Brown Sugar Market Expected to Expand at a Steady CAGR through 2022

The global brown sugar market is likely to exhibit robust growth in the coming years on the back of rising demand from the food and beverage industry. Brown sugar is a type of refined sugar containing molasses, which also imparts the brown color. Production of molasses is a part of the production process of ordinary refined sugar, but can also be added to refined sugar afterwards to turn it into brown sugar. Brown sugar is a staple in the production of various commercially important food and beverage products such as bakery products and sweetened beverages. The global brown sugar market is thus likely to exhibit steady growth in the coming years due to the steady growth trajectory expected from the food and beverage industry.

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According to Transparency Market Research, the global brown sugar market was valued at US$18.3 bn in 2017 and is likely to rise to US$26.5 bn over the 2017-2022 forecast period at a solid CAGR of 7.7%.

Rising demand for bakery products in urban areas is likely to be a major driver for the global brown sugar market. The bakery products industry is a key consumer of powdered, granulated, as well as syrup brown sugar and is likely to remain a major contributor to the global brown sugar market due to the increasing awareness of Western bakery products in emerging markets. The rising indigenous bakery products industry in emerging regions such as Latin America and Asia Pacific is likely to remain a significant contributor to the global brown sugar market in the coming years due to the rising popularity of bakery items in urban areas in these regions. Household production of bakery products is also likely to increase in emerging regions due to the increasing interest in cooking bakery products, leading to a steady rise in the demand from the brown sugar market.

The beverage industry is likely to be a major contributor to the global brown sugar market in the coming years. Aerated and fruit-based beverages have become widely popular across the world due to the instant appeal and demand for brown sugar in beverage production is thus likely to benefit massively over the coming years. The rising popularity of local beverage manufacturers, who can compete with international players due to the cheaper regulatory expenses, is likely to remain a major driver for the global brown sugar market in the coming years, particularly in emerging regions such as Southeast Asia and Latin America. The dairy industry is also likely to contribute significantly to the brown sugar market across the world due to the rising awareness about the utility of dairy products as a healthier alternative to conventional sweetened and aerated beverages.

Geographically, Asia Pacific except Japan is likely to remain the leading contributor to the global brown sugar market over the coming years. The region accounted for more than 33% of the global brown sugar market in 2017 and is likely to remain relevant to the global brown sugar market figures over the coming years in spite of a fall in market share. North America is likely to become increasingly relevant to the global brown sugar market in the coming years due to the growing demand from the packaged food and beverage industry. The longstanding popularity of bakery products in North America has been a major driver for the brown sugar market in the region. The North America market for brown sugar is expected to grow from US$2.5 bn to US$3.8 bn over the 2017-2022 forecast period at a robust 8.7% CAGR.

Europe is also likely to remain a dominant contributor to the global brown sugar market thanks to the widespread presence of traditional bakery practices, which often make use of molasses more than modern operations. The Europe brown sugar market is expected to be valued at more than US$4.7 bn by 2022, with the region likely to exhibit a 7.7% CAGR over the 2017-2022 forecast period.

The global brown sugar market is highly competitive due to the presence of several players looking to claim a major share in global figures. Leading players in the global brown sugar market include AkzoNobel NV, Masco Corporation, Hempel A/S, Jotun A/S, The Valspar Corporation, Axalta Coating Systems Ltd., Nippon Paint Holding Co. Ltd., BASF SE, and PPG Industries Inc. Moreover, new entrants could join the brown sugar market over the coming years due to the increasing commercial prospects of the food and beverage industry in the urbanized modern world.

For more Information: https://globenewswire.com/news-release/2017/09/21/1125737/0/en/Global-Brown-Sugar-Market-to-hit-US-26-5-Billion-by-2022-TMR.html