Rising Bakery Industry to Boost Demand from Brown Sugar Market over the period from 2017 to 2022
The global brown sugar market is fragmented, thanks to the presence of a massive pool of large, small, and unorganized vendors due low entry barriers, states a new report by Transparency Market Research (TMR). Suem Do Brasil Embadagen Ltda, Thipphawan Sugar, Shree Renuka Sugars Ltd., Copersucar S.A., Billington’s, India Tree Inc., Cargill Inc., and Eliora Internacional Ltda are some of the key vendors of brown sugar across the world. With continual entry of new players, the competition within this market will remain rising over the next few years, states the research report.
According to the research report, the global brown sugar market stood at US$18.30 bn in 2017. Rising at a CAGR of 71.70% over the period from 2017 to 2022, the market is anticipated to reach US$26.5 bn by the end of the period of the forecast. The bakery industry has surfaced as the key application area of brown sugar across the world. Researchers expect this trend to remain so over the next few years, notes the market study.
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Brown sugar is a variant of sugar in which some molasses is still present. In conventional white sugar, molasses is removed completely. However, leaving some molasses in the sugar makes the sugar cheaper as well as more nutritious, as molasses is better for the body than plain sugar. The global brown sugar market has been driven by the steady growth of the food and beverage industry in recent years and is likely to exhibit rapid growth over the coming years. Brown sugar is also known as soft sugar due to the natural hygroscopic property imparted by the presence of molasses. The brown sugar industry has flourished due to the increasing demand from various parts of the food and beverage industry and is thus likely to exhibit steady growth in the coming years.
According to Transparency Market Research, the global brown sugar market was valued at US$18.3 bn in 2017 and is likely to exhibit a robust 7.7% CAGR over the 2017-2022 forecast period. Thus, the brown sugar market is expected to rise to a valuation of US$26.5 bn by 2022.
One of the major drivers for the global brown sugar market is the growth of the food and beverage industry in urban areas in recent years. The demand for beverages in particular has received a shot in the arm due to the rising demand from urban areas, where sweetened beverages are becoming increasingly popular, and is likely to remain a key driver for the brown sugar market in the coming years. The rising demand for energy drinks and fruit-based or fruit-flavored beverages is likely to remain a key driver for the brown sugar market, as the molasses content of brown sugar and its brown color often make it unpopular for regular use in households as table sugar.
Rising Bakery Industry to Boost Demand from Brown Sugar Market
The growing bakery industry is likely to remain a vital consumer for the global brown sugar market in the coming years. Bakery products have become increasingly relevant to the economic dynamics of the food and beverage industry following the rise in the disposable incomes of urban consumers, which has led to a rise in the demand for luxury products such as bakery items. The hygroscopic nature and molasses content of brown sugar also makes it desirable over conventional sugar in the bakery industry, as the unrefined molasses mixes better with bakery ingredients, which is likely to drive demand from the brown sugar market in the coming years.
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