The sugar industry comprises the production, processing and marketing of sugars. Sugar beets and sugarcanes have the largest percentages of sugar among different types of plants. This is why they are the most preferred choices when it comes to extraction. The global sugar market attained a volume of 193.2 million tons in 2020. This growth is expected to continue with the forecast for 2026 by independent market research firms to be around 202.1 million tons.
The global production of bulk sugar is expected to increase in 2021/22. Increased production of sugar in the EU, India and Thailand will more than make up for the decline of sugar production in Brazil due to recent bad weather conditions. India’s sugar export is forecasted to increase along with export from Thailand in the foreseeable future.
Major sugar exporter and producer:
Brazil is the leader in the global sugar market, with the sugar industry being a significant part of the economy of the country. Brazil produced 29.93 million metric tons of sugar in 2019-20. India took second place producing 28.9 million metric tons of sugar in 2019-20. The favorable climatic conditions of the central-south regions of Brazil make it a major producer. Other major producers of sugar are India, China, Thailand, the United States, Mexico, France and Germany. The top five sugar exporting countries globally during 2020-21 are Brazil, Thailand, India, Australia, and Guatemala.
Major Sugar Importer:
The ten major sugar importing countries in 2020-21 are Indonesia, China, United States, Bangladesh, Algeria, Malaysia, European Union, South Korea, Nigeria and Saudi Arabia.
What is sugar?
Sugar is a simple carbohydrate that everyone knows and loves. It is produced naturally in all plants including nuts, fruits, and also vegetables. This sweet crystalline substance is used in a variety of food and non-food applications. It lends itself to being used as a preservative and can also safeguard the development of microorganisms. Did you know that it can be used to avoid the creation of large crystals in ice creams and other frozen products? Other uses include triggering fermentation in products containing yeast and retaining the moisture and freshness of baked goods.
Factors Driving Global Sugar Market / Import and Export of sugar in India:
Ease of Procurement:
This sweetener is easily available, consumed across socio-economic age groups, and also easy on the pocket. It can be found in departmental stores, convenience stores and supermarkets.
The positive impact of the F&B industry:
The food and beverage industry is immune to economic downturns and this positive impact is being passed on to the sugar sector which has been witnessing constant growth over the last couple of years.
Use of bulk sugar in the skincare and pharmaceutical sector:
The use of this sweetened substance in the skincare and pharmaceutical industry makes it a “much in demand” product and drives the growth of the sugar market. It is used in the creation of cough syrups and antibiotics. The exfoliating effect of sugar is also used in the manufacture of scrubs.
Changes in income in developing countries:
The Global sugar market in developing economies such as India, China and the Middle East is showing promising signs of growth due to an increase in disposable income of the population of these regions. Urbanization and an alteration of food habits in these geographic regions are leading to an increase in the demand for sugar-based products.