New York, Dec. 13, 2021 (GLOBE NEWSWIRE) -- The International Sugar Organization (ISO), in one of its statistics, stated that by the end of 2018, the consumption of sugar touched 172.441 Million tonnes, up from 123.454 Million tonnes in 2001. Moreover, the statistics also stated that every year, the average trade of sugar globally is recorded to 64 Million tonnes. On the other hand, according to the statistics by the Food and Agricultural Organization (FAO), Brazil is recorded to be the top country around the world in terms of sugar cane harvesting. The total area where sugar cane was harvested in the country increased from 4804511 hectares in the year 2000 to 10081170 hectares in the year 2019. India held the second-largest area for sugar cane harvesting by recording a total area of 5061090 hectares in the year 2019, up from 4219700 hectares in the year 2000.
Research Nester has recently added a report on “Global and Asia Pacific Cane Sugar Market” which is studied for the forecast period, i.e., 2021-2030. The report includes a detailed analysis of the key market players operating in the market, along with the latest developments in these organizations. Moreover, the report also includes the key market numbers and brief analysis of the segments.
The demand for sugar around the globe is surging at a massive pace. As a result, the need for increasing the production of sugarcane is also increasing. According to the statistics by the Directorate of Economics and Statistics, Department of Agriculture and Farmers Welfare of the Ministry of Agriculture and Farmers Welfare of the Government of India, production of sugarcane as a commercial crop in India grew from 281.172 Million tonnes in the year 2005-06 to 370.5 Million tonnes in the year 2019-20. Sugar is used widely for manufacturing different food products in the food & beverage industry, as well as for manufacturing different other products in the pharmaceutical and cosmetic industries. The global cane sugar market is estimated to garner a revenue of USD 252764.11 Million by the end of 2030, up from a revenue of USD 211788.91 Million in 2017.
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The growth of the market can also be attributed to the rising imports of sugar worldwide. According to the statistics by the International Trade Center, the imports of sugar around the globe in the year 2020 touched USD 25427510 Thousand, up from USD 22055095 Thousand in 2019. In addition to this, the United States registered to be the largest importer of sugar around the globe, by registering an import value of USD 2091587 Thousand in the year 2020, up from USD 1660111 Thousand in the year 2018. On the other hand, in other statistics by the International Sugar Organization (ISO), Brazil was recorded to be the largest exporter of sugar worldwide in the year 2019 by recording an export volume of 17.89 Million metric tonnes. Thailand and India took the second and third position respectively by registering a volume of 10.41 Million metric tonnes and 4.02 Million metric tonnes respectively in the same year.
In Asia Pacific (excluding South East Asia), the cane sugar market is projected to garner a revenue of USD 88303.00 Million by the end of 2030, by growing with a CAGR of 1.96% during the forecast period. Moreover, in the year 2017, the market in the region registered a revenue of USD 68037.91 Million. The market in the region is further segmented by countries into China, India, Japan, Pakistan, Australia, and the Rest of Asia Pacific. Out of the market in these countries, the market in China registered the largest market revenue of USD 37130.50 Million by the end of 2017 and is further projected to garner a revenue of USD 43968.31 Million by the end of 2030, by growing with a CAGR of 1.45% during the forecast period. Alternatively, the market in India is projected to grow with the highest CAGR of 3.06% during the forecast period.
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In South East Asia, the cane sugar market is anticipated to garner a revenue of USD 21869.36 Million by the end of 2030, up from a revenue of USD 15271.83 Million in the year 2017. The market in the region is further projected to grow with a CAGR of 2.86% during the forecast period. The South East Asia cane sugar market is segmented by countries into Indonesia, Thailand, Vietnam, the Philippines, and the Rest of South East Asia. Out of the market in these countries, the market in Indonesia is anticipated to garner the largest market revenue of USD 8704.24 Million by the end of 2030 by growing with a CAGR of 3.06% during the forecast period.
The global and Asia Pacific cane sugar market is segmented on the basis of type into crystallized sugar and non-crystallized sugar. Amongst these segments, the crystallized sugar segment registered the highest market share in the year 2017 and is projected to hold this position throughout the forecast period. The segment is further anticipated to garner a revenue of USD 205671.13 Million by the end of 2021 and further grow with the highest CAGR of 1.32% during the forecast period. The segment is further divided into single and double crystallized sugar, out of which, the double crystallized sugar segment is anticipated to hold the highest market share during the forecast period. Alternatively, the single crystallized sugar segment is expected to attain the fastest growth of 1.28x during the forecast period. In Asia Pacific (excluding South East Asia), the crystallized segment is anticipated to grow with the highest CAGR of 2.04% during the forecast period. Further, the single crystallized sugar segment is anticipated to attain the fastest growth of 1.39x during the forecast period. Moreover, amongst the countries in the region, the crystallized segment in China cane sugar market is projected to garner the largest revenue of USD 35270.07 Million by the end of 2021.
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On the other hand, in South East Asia, the non-crystallized sugar segment is projected to grow with a CAGR of 1.79% during the forecast period, while the crystallized sugar segment is anticipated to hold the highest market share during the forecast period. The single crystallized sugar segment, under the crystallized sugar segment, is further projected to attain the fastest growth of 1.50x over the forecast period. Amongst the countries in the region, the crystallized segment in Indonesia cane sugar market is anticipated to grow with the highest CAGR of 3.14% during the forecast period, while in Thailand, the non-crystallized sugar segment is projected to grow with a CAGR of 1.78% during the forecast period.
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Some of the prominent industry leaders in the global and Asia Pacific cane sugar market that are included in our report are Bajaj Hindusthan Sugar Ltd., Guangxi Yangpu Nanhua Sugar Industry Group Co., Ltd., Samora Group Indonesia, Wilmar International Ltd., Mackay Sugar Limited, Kaset Thai International Sugar Corp Public Company Limited, Mitr Phol Group, Perkebunan Nusantara IX, Khon Kaen Sugar Industry PCL, Roxas Holdings, Inc., and others.
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