Powdered Sugar Market

Global Powdered Sugar Market Size, Share & Trends Analysis Report By Product (Conventional and Organic), By Application (Bakery, Dairy, Confectionery and Others), By Regional Outlook and Forecast, 2023 - 2030

Report Id: KBV-21071 Publication Date: March-2024 Number of Pages: 237
2022
USD 6.6 Billion
2030
USD 10.2 Billion
CAGR
5.7%
Historical Data
2019 to 2021

Market Report Description

The Global Powdered Sugar Market size is expected to reach $10.2 billion by 2030, rising at a market growth of 5.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,853.8 kilo tonnes, experiencing a growth of 4.9% (2019-2022).

North America has a strong baking culture, with a long tradition of home baking, artisanal bakeries, and commercial bakeries. Thus, the North America region witnessed 34.6% share in the market in 2022. Also, North America would utilize 1,899.3 kilo tonnes of powdered sugar by 2030.The increasing e-commerce sector in Mexico is reshaping the market by offering new distribution channels, enhancing accessibility, providing convenience to consumers, and creating opportunities for manufacturers to adapt to changing consumer preferences and behavior.

Powdered Sugar Market Size - Global Opportunities and Trends Analysis Report 2019-2030

Convenience foods such as baking mixes, pre-packaged desserts, and ready-to-eat baked goods often require it as a key ingredient for sweetening, frosting, and decorating. Consumers who choose convenience foods appreciate the ease and simplicity of preparing or consuming baked goods without extensive cooking or baking from scratch.

Additionally, real-term (constant 2019 prices) figures from the South African government show that the food and beverage industry's total income climbed by 14,9% in February 2023 compared to February 2022. Positive annual growth rates were recorded for bar sales (35,5%) and food sales (13,8%).

However, High sugar consumption has been strongly linked to the global obesity epidemic. Sugary foods and beverages, including those made with it, are often calorie-dense and provide little to no nutritional value. Excessive calorie intake from sugar can contribute to weight gain and obesity, which are risk factors for various chronic health conditions such as type 2 diabetes, heart disease, and certain cancers. Therefore, the above health concerns are impeding the growth of the market.

Driving and Restraining Factors
Powdered Sugar Market
  • Increasing consumption of convenience foods
  • Rising consumer interest in home baking and cooking
  • Expansion of the global food and beverage industry
  • Increasing health concerns related to sugar.
  • Price volatility of raw materials
  • Increasing application in non-food industries
  • Ongoing innovation in product formulations
  • Growing competition from alternative sweeteners
  • Increasing shift in consumer preferences and changing trends

By Application Analysis

On the basis of application, the market is segmented into bakery, dairy, confectionery, and others. The bakery segment recorded 35.6% revenue share in the market in 2022. The expansion of the bakery sector leads to a diversification of product offerings, with bakeries introducing new and innovative baked goods to cater to evolving consumer preferences.

Powdered Sugar Market Share and Industry Analysis Report 2022

By Product Analysis

Based on product, the market is bifurcated into conventional and organic. The organic segment procured 235% revenue share in the market in 2022. In terms of volume, the organic segment would register 498.7 kilo tonnes in 2022. Increasing consumer awareness of health and wellness has led to a growing demand for organic food products perceived as healthier and more natural alternatives.

Free Valuable Insights: Global Powdered Sugar Market size to reach USD 10.2 Billion by 2030

By Regional Analysis

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 28.4% revenue share in the market. Many countries in the Asia Pacific region have rich culinary traditions and cultural celebrations that involve the consumption of sweet treats and desserts.

Powdered Sugar Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 6.6 Billion
Market size forecast in 2030 USD 10.2 Billion
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2030
Revenue Growth Rate CAGR of 5.7% from 2023 to 2030
Number of Pages 237
Number of Table 510
Quantitative Data Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Product, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Südzucker AG, Tate & Lyle Plc., Louis Dreyfus Company B.V., Cargill, Incorporated, Nordzucker AG (Nordzucker Holding AG), COFCO Corporation, Associated British Foods PLC (Wittington Investments Limited), weikfield foods pvt. Ltd., American Crystal Sugar Company, Whole Earth Brands, Inc.
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List of Key Companies Profiled

  • Südzucker AG
  • Tate & Lyle Plc.
  • Louis Dreyfus Company B.V.
  • Cargill, Incorporated
  • Nordzucker AG (Nordzucker Holding AG)
  • COFCO Corporation
  • Associated British Foods PLC (Wittington Investments Limited)
  • weikfield foods pvt. Ltd.
  • American Crystal Sugar Company
  • Whole Earth Brands, Inc.

Powdered Sugar Market Report Segmentation

By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)

  • Conventional
  • Organic

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

  • Bakery
  • Dairy
  • Confectionery
  • Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

The Market size is projected to reach USD 10.2 billion by 2030.

Increasing consumption of convenience foods are driving the Market in coming years, however, Increasing health concerns related to sugar restraints the growth of the Market.

Südzucker AG, Tate & Lyle Plc., Louis Dreyfus Company B.V., Cargill, Incorporated, Nordzucker AG (Nordzucker Holding AG), COFCO Corporation, Associated British Foods PLC (Wittington Investments Limited), weikfield foods pvt. Ltd., American Crystal Sugar Company, Whole Earth Brands, Inc.

In the year 2022, the market attained a volume of 3,853.8 kilo tonnes, experiencing a growth of 4.9% (2019-2022).

The Conventional segment is leading the Market by Product in 2022; there by, achieving a market value of $7.6 billion by 2030.

The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $3.3 billion by 2030.

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