Increasing demand for among plastic manufacturers has led to a surge in demand for raw cane sugar in the plastic industry. Attributed to low cholesterol content, raw cane sugar represents substantial demand among the diabetic food manufacturers globally. A recently compiled report reveals that the global market of raw cane sugar is projected to reflect a steady CAGR over the predicted period, 2017 – 2024.
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Factors Fuelling Global Market Growth
Growing prevalence of diabetes has led to an increase in demand for healthy products in the food industry. Raw cane sugar is also used as a healthy and alternate source of sucrose in the food and beverages sector. Attributed to healthy properties such as cholesterol and low sodium content, raw cane sugar is projected to represent significant demand among beverage manufacturers. Such factors will impact growth of the global raw cane sugar market positively during the predicted period.
Apart from food industry, application of raw cane sugar also extends to plastic and cosmetic industry. Surge in demand for wax in the candle, personal care and leather industry is projected to fuel demand for raw cane sugar products. Increasing need for candle production has led to a surge in demand of wax among candle manufacturers. Wax is also used in the personal care industry to maintain cleanliness and hygiene. Bound to these factors, the global market of raw cane sugar is projected to represent a boost in growth throughout 2024.
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Food Processors to Remain a Leading Segment
Food processors is projected to represent a relatively high growth in terms of revenue in the market globally. This segment is projected to represent more than US$ 2,000 Mn in the raw cane sugar market globally by 2017–end. Retailers is projected to represent a significant growth in terms of revenue after food processors in the global market by the end of 2017. Industrial applications and food processors segment is projected to represent an equivalent CAGR throughout 2024. These segments is projected to represent a relatively high CAGR in the global market of raw cane sugar during the predicted period.
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Organic sugar products among other products is projected to reflect the highest growth in terms of revenue through 2024. This segment is projected to represent more than US$ 4,000 Mn in the raw cane sugar market globally by 2024–end. The organic sugar products is projected to reflect a relatively high CAGR as compared to other products in the global market through 2024. Demerara-style sugar is projected to witness significant growth in terms of revenue after organic sugar segment in the global market of raw cane sugar by 2024–end. APEJ is projected to represent a major market for the raw cane sugar products globally.
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Market Players
Key players in the global market of raw cane sugar are Archer Daniels Midland Company, Cargill Inc., Sudzucker AG, Tereos Internacional S.A., Associated British Foods plc, Tongaat Hulett Sugar South Africa Limited, Shree Renuka Sugars Limited, E.I.D.-Parry (India) Limited, Raizen S.A, and Louis Dreyfus Company B.V.
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