Advances in technology and an increasing focus on health are expected to further expand and deepen sucrose applications. The publisher analyzes that sucrose is critical in the global food and beverage industry, where it is extensively used in soft drinks, juices, candies, pastries, ice creams, and other processed foods. In Vietnam, economic growth and rising per capita income are boosting food and beverage consumption, directly driving the growth of Vietnam's sucrose market.
The major global producers of sucrose include Brazil, India, China, Australia, and Thailand, with Brazil leading as the largest producer and exporter due to significant production advantages, followed by India and China. In terms of demand, North America, Europe, and Asia are the major consuming regions, and rising economies in Southeast Asia, including Vietnam, are seeing increasing sucrose market growth.
As a key economy in Southeast Asia, Vietnam's demand for processed foods and beverages continues to grow with economic expansion and increased consumer income. This demand drives Vietnam's sucrose imports. The publisher highlights that Vietnam's favorable labor costs and abundant land resources attract many international brands, such as Pepsi and Coca-Cola, to establish production bases there, indirectly fueling Vietnam's sucrose market. However, due to limited domestic sucrose production, Vietnam relies on imports to meet its market needs.
The data shows that in 2023, Vietnam's sucrose imports reached approximately USD 254 million, with expectations of sustained growth in the coming years. Key sucrose import sources for Vietnam include Australia, Singapore, Thailand, Cambodia, Laos, and Myanmar, with Australia as the largest source. From 2021 to 2024, the primary countries and regions exporting sucrose to Vietnam were Australia, Singapore, and Thailand. Major exporters to Vietnam include companies like Global Mind Agriculture Pte Ltd, Wilmar Sugar Pte Ltd, and Mitr Lao Sugar Co Ltd. Major importers during this period include Thanh Thanh Cong - Bien Hoa Joint Stock Company, Bien Hoa Consumer Joint Stock Company, and BSJC.
Overall, Vietnam's sucrose market shows a steady growth trend. With the development of Vietnam's food and beverage, chemical, and pharmaceutical industries, the sucrose market is expected to continue expanding. However, given the limited capacity for increased local sucrose production, Vietnam would remain dependent on imports to meet its sucrose demand in the years ahead.
Topics covered:
- The Import and Export of Sucrose in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Sucrose in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Sucrose in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Sucrose in Vietnam (2024)
- Total Import Value and Percentage Change of Sucrose in Vietnam (2024)
- Average Import Price of Sucrose in Vietnam (2021-2024)
- Top 10 Sources of Sucrose Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Sucrose in Vietnam and Their Supply Volume
- Top 10 Importers of Sucrose in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Sucrose in Vietnam
- How Foreign Enterprises Enter the Sucrose Market of Vietnam
- Forecast for the Import of Sucrose in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- GLOBAL MIND AGRICULTURE PTE LTD
- WILMAR SUGAR PTE LTD
- MITR LAO SUGAR CO LTD.
- THANH THANH CONG - BIEN HOA JOINT STOCK COMPANY
- BIEN HOA CONSUMER JOINT STOCK COMPANY
- BSJC.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | November 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 260 Million |
| Forecasted Market Value ( USD | $ 376.52 Million |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
