Asia Pacific Cane Sugar Market - Growth, Trends, and Forecasts (2023 - 2028)

The Asia-Pacific cane sugar market is projected to register a CAGR of 8.6% over the forecast period.

Key Highlights

• The market is mainly growing owing to the abundance of sugarcane availability and other properties, such as better flavor and caramelization, which are superior to beet sugar. Sugar from cane is helpful for blood insulin levels, body protein levels, and hydration. Due to its availability, sweetness, and slightly fruity flavor, it is frequently chosen above other sugars for its use in sweetening baked products and hot beverages.
• Also, innovations in the existing conventional sugar, such as brown cane sugar, which consists of added molasses to enhance flavor and appearance, by the leading global and small domestic players have fueled the market growth.
• The utilization of sugar has also increased, and both domestic production and imports meet the domestic necessities of the nation. According to the Organisation for Economic Co-operation and Development (OECD), the rise in sugar consumption will likely come from developing countries, attributed to rising demand for sugar-rich confectionery products and soft drinks. Across Asia-Pacific, India is expected to lead the growth, followed by Indonesia, China, and Pakistan.

Asia Pacific Cane Sugar Market Trends

Increased Trade of Organic Cane Sugar

• Organic cane sugar is witnessing enhanced demand these days. Organic cane sugar is unrefined sugar that contains a full taste of sugarcane, is less processed, retains a lot of nutrients, and thus excludes cancer-causing and environmentally damaging pesticides in otherwise conventionally grown sugarcane.
• Furthermore, organic cane sugar is high in polyphenols, has powerful phytonutrients with qualities of antioxidants, and is loaded with vitamins and minerals, including magnesium, calcium, manganese, potassium, and iron, coupled with amino-acids that help to burn fat and build muscle.
• The presence of essential amino acids like lysine, histidine, arginine, methionine, pipecolic acid, arginine, etc., is found to lower cholesterol. According to the Trade Map, in 2021, China exported around 107.8 thousand metric tons of sugar. The attributes such as availability, texture, cost, eco-friendliness, nutrition benefits, and rich sugarcane flavor over regular conventional cane sugar, etc., support the demand and consumption of organic cane sugar across the region.

India Holds a Prominent Share in The Market

• India is one of the largest agricultural countries, making it an ideal market to expand due to the growing sugar consumption in the country. With new regulatory policies and amendments in the older ones, there is a greater chance for farmers and millers to increase their efforts toward cane sugar production and processing. India is the largest producer of sugar in the world and is also the largest consumer.
• Additionally, employment is created in several ancillary activities related to transportation, trade servicing of machinery, and supply of agriculture inputs. According to the Ministry of Consumer Affairs data from October 2022, 5000 lakh metric tons of sugar cane were produced in India, of which sugar mills crushed about 3574 lakh metric tons of sugarcane to produce about 394 lakh metric tons of sugar (sucrose).
• India is the world's largest producer and consumer of sugar; hence over the medium term, demand is anticipated to rise. Due to the increase in demand for organic and naturally derived products, demand for organic sugar is also growing in India.
• Additionally, India is known for its ayurvedic medicines, and organic sugar and potions are used in most of them. According to the Agricultural and Processed Food Products Export Development Authority (APEDA) data, India exported 21932.591 MT of organic sugar in 2021-2022.

Asia Pacific Cane Sugar Industry Overview

The Asia-Pacific cane sugar market is fragmented due to large regional and domestic players in different countries. Emphasis is given to the companies' merger, expansion, acquisition, partnership, and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Major players in Asia-Pacific cane sugar production are Global Organics, Ltd., Louis Dreyfus Company BV, Tate & Lyle PLC, American Sugar Refining, Inc., and Wilmar Sugar Australia Holdings Pty Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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