The global organic sugar market size can touch USD 1,314.53 million by 2022 exhibiting a CAGR of 15.55%. Rise in health-consciousness among consumers is the primary driver of the market. Stringent food quality regulations combined with labeling guidelines can be ensured for the quality of the end product and induce market demand.
Reduced output of corn in the U.S. can lead to a hike in prices of organic sugar due to demand for ethanol in Latin American countries. In addition, subsidies given to farmers in India has given undue advantage to the region’s farmers which can lead to oversupply of the product and lead to a haircut in profit margins of other countries.
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Prominent names profiled in the Global Organic Sugar Market include
- Dwarikesh Sugar Industries Limited,
- Raizen S.A,
- Shree Renuka Sugars Limited,
- Tereos Internacional, Cosan Ltd.,
- Mitr Phol Group,
- Wangkanai Group
- Bunge Limited
Players are involved in creating a brand for their respective products. They are investing in promotional events, exhibitions, and trade events for ensuring the brand name attains its recognition in global circles. Research and development are prioritized for extending the product portfolio and expanding the range offerings to consumers.
Major applications discussed in the global organic sugar market report include personal care and pharmaceuticals, food & beverages, and others.
Among them, the food & beverages application is expected to dominate till 2022 owing to the need for ready-to-eat organic products. Increasing preference for chemical-free ingredients in foods is likely to hike the demand for organic sugar in the segment.
The personal care segment can command a market demand at 14.22% CAGR over the forecast period. High need for organic sugar in toothpaste, perfumes, lotions, make-up, creams, and mouthwashes is likely to bode well for the global market revenue. The inclination towards products with organic ingredients can create opportunities for the organic sugar market. The segment can experience value growth at 16.85% CAGR till 2022.
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Geographically, the global organic sugar market comprises astute information on three major regions, namely Latin America, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Latin America is purported to dominate the global market by touching a value of USD 838.17 million by 2022. It can account for more than 55% share of the market by the end of the forecast period due to the high numbers of farmers applying for organic certification. Furthermore, government support coupled with promotion of policies in developing and developed economies can boost production of organic sugar. Within the region, Brazil and Paraguay are major producers, with the latter accounting close to 30% market share.
The APAC region is predicted to exhibit an impressive CAGR of 14.66% throughout the forecast timespan due to Thailand and India being major exporters of organic sugar. The region can experience demand growth at 12.77% CAGR over the forecast timespan. Establishment of organic sugar mills can augur well for market growth. For instance, Wangkanai Sugar Group plans to expand its production to cater to the growing demand in Europe and North America. Exports to these regions coupled with adherence to food safety regulations in those regions can bode well in the coming years.
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