rise in demand for raw sugar in food and beverage applications is driving the Industrial Sugar Market
Technavio analyzes that the Industrial Sugar Market is expected to grow at a CAGR of 4.91% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 12.46 billion.There are various factors that contribute to the growth of the market. The industrial sugar market is experiencing significant growth due to the increasing demand for raw sugar in various food and beverage applications. Raw sugar is widely used in the production of soft drinks, confectionery, baked goods, and other processed foods. The rising trend of consuming healthier alternatives, such as sugar-free and low-calorie products, is also fueling the market's expansion. Furthermore, the growing population and increasing disposable income in developing countries are contributing to the surge in demand for sugar in the food industry.
In the global industrial sugar market, sugar cane plays a pivotal role as a primary raw material. This tall tropical grass, predominantly cultivated in regions with favorable climates, such as Latin America, the Caribbean, Asia-Pacific, and parts of Africa, is rich in sucrose content. After maturation, sugar cane is harvested by cutting the mature stalks close to the ground. The harvested cane is transported to sugar mills for processing, where it undergoes crushing to extract the juice. This juice is then purified, filtered, and concentrated to produce syrup or crystallized sugar. The entire process ensures the production of high-quality sugar for various industries.
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Industrial Sugar Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The industrial sugar market encompasses a range of white crystalline sweeteners, including sucrose, glucose, fructose, honey, lactose, and galactose, used for various technological functions in foods. These sweeteners provide texture, bulk, color, and serve as preservative agents in fruits, vegetables, milk, dairy products, and cereals. Sugars derived from sugar cane and beet are purified, filtered, concentrated, and transformed into syrup, crystallized, dried, and cooled forms for diverse applications.
The industrial sugar market is a significant segment of the global packaged foods and meats industry, which falls under the food products sector of the food, beverage, and tobacco market. This market encompasses manufacturers and food processing vendors engaged in food processing to ensure food safety and prolong shelf life. Technavio's market analysis calculates the market size based on the consolidated revenue of the participating vendors. It is essential to note that this market excludes equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. White crystals serve multiple functions in this industry, such as sweeteners, texture enhancers, bulk agents, colorants, and preservative agents, particularly in the production of fruits and various food products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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