Aug 08, 2019 (Heraldkeepers) -- Key Players Analysis:
Some of the vital operatives in the global industrial sugar market are Sudzucker Group (Germany), British Sugar (U.K.), Tereos (France), Cargill (U.S.), Rogers Sugar Inc (Canada), Michigan Sugar (U.S.), Imperial Sugar Company (U.S.), Guangxi Guitang Group Co., Ltd (China), Rizhao Lingyunhai Sugar Group (China), COFCO Tunhe Co., Ltd. (China), Guangxi Fengtang Biochemistry Co., Ltd. (China), Guangxi Funan East Asia Sugar Co., Ltd (China), Bannari Amman Sugars Limited (India), Rajshree Sugars (India), Rana Sugars (India), Shree Renuka Sugars (India), Upper Ganges Sugar & Industries (India), Bajaj Hindustan Limited (India), Guangxi Guitang Group Co., Ltd (U.S.).
Latest Industry Updates
To expand their production capacity, Rogers Sugar Inc. acquired L.B. Maple Treat Corporation which is one of the leading players in the private label maple syrup bottling and distribution.
I.D. Parry (India) Limited; one of the leading players in sugar market of India has announced to expand their sugar production capacity in order to meet the global rising demand for sugars.
In order to expand their sugar business, Suedzucker AG which is one of the leading players in the industrial sugar market acquired 25% stake in ED&F Man, for USD 91.8 million. The company follows the strategy of acquisition in order to expand their geographical presence as well as to increase their production capacity.
To suffice the rising demand for specialty products and organic sugars, Michigan Sugar Co. acquired AmCane Sugar LLC; a key manufacturer of specialty sugar. AmCane is involved in the production of liquid sucrose, VLC liquid sugar, evaporated cane juice, large/coarse grain sugar and boiled brown sugar.
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The global industrial sugar market is gaining traction owing to its growing foothold in multi-purpose applications. According to Market Research Future reports, the global industrial sugar market is touted to grow at a CAGR of 4.5% during the forecast period till 2022.
Industrial sugar is defined to be as a form of carbohydrate, which is has a nature of easy solubility. It is obtained from various raw materials such as sugarcane, sugar beet, and more. However, most of the industrial sugar is extracted from sugar cane, which is found to be dominant on various sugar processing industries as well As sugar provides energy in terms of calorie to the body after its break down, it is considered as one of the significant components of the diet.
Global Industrial Sugar Market: Drivers & Trends
Apart from multi-purpose applications, the potential applications of industrial sugar are also observed in bakery, confectionary, breweries, and pharmaceutical industries are triggering the market prospect. The report further includes that the global industrial sugar market is also driven by more applications of industrial sugar in the production of cereals, chocolates, cakes, chewing gums, and in dairy products.
However, it has been observed that there has been an exponential surge in consumer demand for sweetened drinks, canned fruit products, chocolates, cakes, jams and marmalades among people, which is projected to catapult the market on an upward trajectory for the approaching years. Furthermore, the global industrial sugar market is also driven by factors such as the expansion of sugar production, growth in the industrial beet sugar market, consumption of packed food & beverage items, and considerable usage of sugar in healthy products such as low-calorie bakery and confectionary products.
On top of it, innovations introduced by the market leaders to the use of sugar in products marketed as health products can also certainly benefit the industrial sugar market remarkably during the assessment period. Due to this, the market leads can capitalize on the growth opportunities in the global industrial sugar market for the years to come.
Region-specific analysis of the global Industrial Sugar Market includes North America, Europe, Asia Pacific, and the rest of the world (ROW).
Europe is having the major market share followed by Asia-Pacific region as increasing demand of canned fruits and sweetened food products in these regions is recorded to be high among the people, which is triggering the market remarkably.