“Global Powdered Sugar Market to reach a market value of USD 10.2 Billion by 2030 growing at a CAGR of 5.7%”
The Global Powdered Sugar Market size is expected to reach $10.2 billion by 2030, rising at a market growth of 5.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,853.8 kilo tonnes, experiencing a growth of 4.9% (2019-2022).
North America has a strong baking culture, with a long tradition of home baking, artisanal bakeries, and commercial bakeries. Thus, the North America region witnessed 34.6% share in the market in 2022. Also, North America would utilize 1,899.3 kilo tonnes of powdered sugar by 2030.The increasing e-commerce sector in Mexico is reshaping the market by offering new distribution channels, enhancing accessibility, providing convenience to consumers, and creating opportunities for manufacturers to adapt to changing consumer preferences and behavior.
Convenience foods such as baking mixes, pre-packaged desserts, and ready-to-eat baked goods often require it as a key ingredient for sweetening, frosting, and decorating. Consumers who choose convenience foods appreciate the ease and simplicity of preparing or consuming baked goods without extensive cooking or baking from scratch.
Additionally, real-term (constant 2019 prices) figures from the South African government show that the food and beverage industry's total income climbed by 14,9% in February 2023 compared to February 2022. Positive annual growth rates were recorded for bar sales (35,5%) and food sales (13,8%).
However, High sugar consumption has been strongly linked to the global obesity epidemic. Sugary foods and beverages, including those made with it, are often calorie-dense and provide little to no nutritional value. Excessive calorie intake from sugar can contribute to weight gain and obesity, which are risk factors for various chronic health conditions such as type 2 diabetes, heart disease, and certain cancers. Therefore, the above health concerns are impeding the growth of the market.
On the basis of application, the market is segmented into bakery, dairy, confectionery, and others. The bakery segment recorded 35.6% revenue share in the market in 2022. The expansion of the bakery sector leads to a diversification of product offerings, with bakeries introducing new and innovative baked goods to cater to evolving consumer preferences.
Based on product, the market is bifurcated into conventional and organic. The organic segment procured 235% revenue share in the market in 2022. In terms of volume, the organic segment would register 498.7 kilo tonnes in 2022. Increasing consumer awareness of health and wellness has led to a growing demand for organic food products perceived as healthier and more natural alternatives.
Free Valuable Insights: Global Powdered Sugar Market size to reach USD 10.2 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 28.4% revenue share in the market. Many countries in the Asia Pacific region have rich culinary traditions and cultural celebrations that involve the consumption of sweet treats and desserts.
Report Attribute | Details |
---|---|
Market size value in 2022 | USD 6.6 Billion |
Market size forecast in 2030 | USD 10.2 Billion |
Base Year | 2022 |
Historical Period | 2019 to 2021 |
Forecast Period | 2023 to 2030 |
Revenue Growth Rate | CAGR of 5.7% from 2023 to 2030 |
Number of Pages | 237 |
Number of Table | 510 |
Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
Segments covered | Product, Application, Region |
Country scope |
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Companies Included | Südzucker AG, Tate & Lyle Plc., Louis Dreyfus Company B.V., Cargill, Incorporated, Nordzucker AG (Nordzucker Holding AG), COFCO Corporation, Associated British Foods PLC (Wittington Investments Limited), weikfield foods pvt. Ltd., American Crystal Sugar Company, Whole Earth Brands, Inc. |
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD 10.2 billion by 2030.
Increasing consumption of convenience foods are driving the Market in coming years, however, Increasing health concerns related to sugar restraints the growth of the Market.
Südzucker AG, Tate & Lyle Plc., Louis Dreyfus Company B.V., Cargill, Incorporated, Nordzucker AG (Nordzucker Holding AG), COFCO Corporation, Associated British Foods PLC (Wittington Investments Limited), weikfield foods pvt. Ltd., American Crystal Sugar Company, Whole Earth Brands, Inc.
In the year 2022, the market attained a volume of 3,853.8 kilo tonnes, experiencing a growth of 4.9% (2019-2022).
The Conventional segment is leading the Market by Product in 2022; there by, achieving a market value of $7.6 billion by 2030.
The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $3.3 billion by 2030.
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