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.
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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.
In terms of the geography, the
global market for brown sugar has been segmented into North America, Asia
Pacific, Latin America, the Middle East and Africa, and Europe in this research
study. Asia Pacific has been leading the global market and is anticipated to
remain on the top over the next few years, states the research report.
“The rising demand for bakery
products in urban areas is likely to be a major driver for the global brown sugar market,” states an analyst
at TMR. The bakery products industry is the most prominent consumer of the
powdered, granulated, and syrup brown sugar and is expected to remain a key
contributor to the global market in the near future, owing to the increase in
the demand for Western bakery products in developing economies.
The rise in the indigenous
bakery products industry in developing markets, such as Asia Pacific and Latin
America, is expected to emerge as a prominent factors, boosting the growth of
this market in the years to come, thanks to the augmenting popularity of bakery
items in urban areas in these regions. The household manufacturing of bakery
products is also projected to increase significantly in emerging economies due to
the rising interest of consumers, leading to a healthy rise in the demand for
brown sugar in the near future, reports the market study.
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
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