South Korea Industrial Sugar Market Statistics, Development and Trends, Growth Rate, Key Companies, Regional Analysis forecast year 2032

0
113

Global Industrial Sugar Market Overview:

Industrial Sugar Market Is Estimated to Reach USD 69,795.3 million By 2032 It Is Projected To Grow at a CAGR Of 6.01% From 2023 to 2032, reveals a research report by Market Research Future (MRFR). Sugar is among one of the most widely consumed and traded commodities, and industrial sugar finds different application in various industry verticals such as the food and beverage, pharmaceuticals, confectionery and others. Industrial sugar is primarily used for a broad range of sweetening solutions, and its diverse application range is one of the primary reasons for the growth of the industrial sugar market.

In South Korea Industrial Sugar Market is experiencing steady growth driven by the country's thriving food and beverage industry. Industrial sugar, which includes granulated sugar, liquid sugar, and specialty sugars, is a fundamental ingredient in a wide range of Korean dishes, snacks, and beverages. With the increasing demand for processed and convenience foods, the consumption of industrial sugar continues to rise, driving market expansion. Moreover, as South Koreans become more health-conscious, there is a growing interest in natural and clean label products, prompting manufacturers to explore alternative sweeteners and sugar reduction strategies. As a result, the South Korean industrial sugar market is evolving to meet changing consumer demands, presenting opportunities for innovation and market development in the dynamic Asian market.

Sugar is the primary ingredient in the baking and a rise in consumption of bakery and confectionery products has led to an increase in the Industrial Sugar Market.  Growth in global retail industry, coupled with an increase in sugarcane production across the globe are major factors which fuel the growth of the market. Moreover, sugar crops serve as excellent feedstock which also adds to the growth of the market. Furthermore, sugarcane extraneous matter is a rich source of renewable biomass. Rising disposable income and technological developments in sugar processing and extraction techniques have also provided an impetus for market growth. Growth in demand for sweeteners, the rise in consumption of packaged food and beverages, rising consumer base of industrial sugar and the recent surge in demand for sugar beet are other factors augmenting the market growth.

The current trend of manufacture of VHP (Very High Pol) and VLC (Very Low Color) Sugar and exports for the overseas market has provided opportunities for the industrial sugar market. Production of these higher quality sugar not only creates additional efficiencies at the new refineries but also requires less fossil fuel energy consumption. Industrialization of operations of local sugar crop farmers also is a crucial driver of the market. However, unlike any other market, the industrial sugar market too faces essential sustainability issues. The relatively low and fluctuating profit margins for sugar, reduction in consumption of sugar due to rising health consciousness and rise in demand for sugar substitutes and alternative sweeteners such as honey, dates, coconut sugar, etc., and drop in sugar prices due to overproduction are factors restraining the market growth. Additionally, sugar crops require a vast amount of water which has the potential to hamper the market growth.

Competitive Landscape:

Sudzucker Group (Germany), Tereos (France), Rogers Sugar Inc (Canada),  Imperial Sugar Company (U.S.), Rizhao Lingyunhai Sugar Group (China), Guangxi Fengtang Biochemistry Co., Ltd. (China), Bannari Amman Sugars Limited (India), Rana Sugars (India), Upper Ganges Sugar & Industries (India), Guangxi Guitang Group Co., Ltd (U.S.), British Sugar (U.K.), Cargill (U.S.), Michigan Sugar (U.S.), COFCO Tunhe Co., Ltd. (China), Guangxi Funan East Asia Sugar Co., Ltd (China), Rajshree Sugars (India), Shree Renuka Sugars (India), Bajaj Hindustan Limited (India) are the Industrial Sugar Industry Companies operating in the market.

Segmentation:

The global industrial sugar market has been segmented based on source, type, form, application, and products. By source, the market has been segmented into sugarcane, sugar beet, date palm, sorghum, sugar maple, and others. By type, the market has been segmented into granulated sugar, icing sugar, brown sugar, liquid sugar, specialty sugars and others. By form, the market has been segmented into granular, powder, solid, liquid, paste and others. By application, the market has been segmented into food, beverage, confectionery, pharmaceuticals, and others. By products, the market has been segmented into molasses, sugar, and bagasse and press mud.

Regional Analysis:

By region, the global industrial sugar market has been segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe accounts for the largest share of the market followed by Asia-Pacific. Increased disposable income and rise in demand for sweetened and confectionery products in developed countries of Europe and North America has helped in the growth of the market. The major exporters of industrial sugar market include U.S., China, Germany, U.K, and Indonesia. The growth in the Asia-Pacific region can be attributed to increased sugarcane farming and presence of large number of small and medium-sized local players in the region. Moreover, China and India have a strong concentration of key players which also aids in the growth of the Asia-Pacific market.

Industry Updates:

In June 2018, around 2000 members of the sugar industry in South Africa led a protest march to highlight the plight of the sugar industry due to excess imports. The protest was an initiative to appeal to the International Trade Administration Commission (Itac) to quicken its decision on the application of South African Sugar Association (Sasa).

Related Reports:

Sugar-Free Chocolate Market Research Report Information by Category (100% Sugar Free, No Added Sugar), by Main Ingredients (Cocoa beans, Sugar Substitute, Cocoa butter, fat & oil, Cocoa liquor and others), by Type (Dark, Milk, White), Distribution Channel (Non-Store Based, Store Based) and by Region - Forecast to 2032

Marktforschungsbericht für vegane Nahrungsergänzungsmittel: Informationen nach Produkttyp (Vitamine, Mineralien, Aminosäuren und Proteine, Mischungen, andere), Form (Tabletten, Kapseln und Weichgele, Pulver, Gummibärchen, andere), Vertriebskanal (im Geschäft, nicht im Geschäft), nach Regionen - Prognose bis 2027

Rapport d'étude de marché sur la viande en conserve : informations par type de viande (porc, volaille, bœuf, fruits de mer, autres), canal de distribution (en magasin, hors magasin), par région - Prévisions jusqu'en 2027

About Market Research Future:

Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.

Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.

Contact Us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com/Industrial Sugar Market

Search
Categories
Read More
Other
Savory Snacks Market Trends, Share, and Forecast 2023 to 2030
The report begins with an outline of the business environment and then explains the commercial...
By Akash Khandre 2024-05-02 12:30:24 0 107
Other
Automotive Electronics Market Size, Emerging Trends, Forecasts, and Analysis 2023-2028
The Automotive Electronics Market is segmented by Application Type (ADAS...
By Ethan Brenn 2024-01-17 09:47:12 0 322
Other
https://www.facebook.com/people/Turbo-Keto-Gummies/100092466347623/
Turbo Keto Gummies CLICK HERE TO VISIT - OFFICIAL WEBSITE 👉FACEBOOK REFERENCES: ðŸ‘‡ðŸ‘‡ðŸ‘‡ðŸ‘‡...
By Kamila Bith 2023-05-12 07:03:23 0 491
Other
Flute for Sale: Discover Your Melodic Journey
Are you ready to embark on a musical adventure? Look no further than the flute for sale, a...
By dxb ernovate 2023-08-13 16:48:40 0 463
Other
What Is the Baggage Allowance for Cathay Pacific Airlines?
Cathay Pacific's baggage allowance depends on the fare class or cabin class of travel and its...
By Business Work 2023-12-21 11:49:47 0 409