Global Granulated Sugar Market – Overview
Granulated sugar is a great source of carbohydrates that are highly soluble. The sugar can be derived from numerous sources such as sugar beet, sorghum, date palm, sugar maple, and sugarcane among others. Sugarcane is the most commonly used raw material for the production of sugar across the globe. The number of companies in the granulated sugar market is constantly growing due to its increasing demand and applications. This growth of demand and subsequent growth in the number of players in the market is directly pointing towards a highly competitive vendor landscape in the global granulated sugar market.
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Global Granulated Sugar Market – Notable Developments
Some of the key developments in the global granulated sugar market are listed below:
- In August 2017, Wilmar International Ltd., acquired 50% equity shares in Aalst Chocolate Pte. Ltd., a home-grown chocolate producer in Singapore. This deal was done through KOG Investments Pte. Ltd. (a completely owned subsidiary of Wilmar) acquiring the aforementioned equity shares in Aalst Chocolate. The aim of the deal was to help Aalst to use the vast production and distribution network of Wilmar in Asia and to further penetrate in the growing chocolate market in new geographies, especially China.
- In June 2018, Wilmar set up a new joint research lab in association with the National University of Singapore. The motive behind this move was to conduct highly advanced synthetic and nutritional biology research so as develop healthier food products and develop new green production technologies for industrial biochemicals and enzymes.
- In June 2019, Nordzucker AG announced that they have now shifted their focus on producing sugar from beet and cane. This was the key focus agenda of their annual general meeting on the backdrop of huge cut down in prices due to overproduction and changing political environment across the globe.
Some of the other players in the granulated sugar market include names such as Sudzucker, C&H Sugar, Archer Daniels Midland Company, Illovo Sugar Ltd, Cargill, Nordic Sugar A/S, Wilmar International Ltd, Mitr Phol Sugar Corp, and Cosan SA among others.
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Global Granulated Sugar Market – Drivers and Restraints
Some of the key driving factors for the growth of global granulated sugar market are listed below:
- Growing demand from various sectors: Granulated sugar has applications across variety of sectors in the food and beverages industry. It is used for creating products such as biscuits, pastry, cookies, marmalades, and jams among others. It is also used in the production of chocolates and ice creams. Granulated sugar is the fundamental ingredient in the creation of these products and thus, rising demand for these products helps in boosting the growth of the market.
- Application in the beverage industry: Granulated sugar is also used in the production of both alcoholic and non-alcoholic beverages. As their sales are increasing rapidly, it is fuelling the growth of the global granulated sugar market.
Global Granulated Sugar Market – Regional Outlook
The global granulated sugar market can be segmented into key regions such as Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Among these regions, the Asia Pacific segment is leading the market in terms of overall production and is expected to continue to do so in the coming years of the forecast period. This dominance of Asia Pacific is largely due to the presence of emerging economies such as India, China, and Indonesia that have large production facilities and large-scale sugarcane plantations. On the other hand, Europe is the leading the global market in terms of beet sugar production.
Segmentation of Global Granular Sugar Market
- By Source
- Sugar beet
- Date palm
- Sugar maple
- By Product
- Soft sugar
- Crystal sugar
- By End-Use
- Bakery Industry
- Beverage Industry
- Confectionery & Ice-Cream Industry
- Pharmaceutical Industry
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