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Industry Insights, Market Size, CAGR, High-Level Analysis: Powdered Sugar MarketThe global powdered sugar market size was estimated at USD 5.62 billion in 2018. The market is projected to expand further at a CAGR of 4.2% from 2019 to 2025. Increasing consumption of confectionery and bakery food products is the key factor propelling the market growth. Powdered sugar has many applications in bakery products, such as brownies, pound cakes, muffins, cookies, and donuts. Powdered sugar is also known as icing sugar or confectioner’s sugar. It is widely used as an anti-caking agent as it maintains the viscosity and helps in obtaining fine structure and texture in food products. It mostly used for preparing icing and frosting for desserts, baked items, and fruit-flavored sweets. Moreover, innovation in packaging of chocolates and confectioneries have resulted in an increased consumption of these products. This, in turn, is estimated to augment the demand for powdered sugar. On the other hand, rising awareness about the adverse health effects of high consumption of sugar, such as high risk of diabetes and increased cholesterol, acts as a major constraint for the market growth. Therefore, manufacturers are focusing on introducing alternative products, such as organic and natural sugar with less fat and more energy. This will also have a negative impact on the market expansion. North America was the dominant regional market in 2018 and is projected to expand further at a steady CAGR from 2019 to 2025. However, Asia Pacific will register the fastest CAGR during the forecast period.
Application Insights of Powdered Sugar MarketBased on application, the market has been segmented into bakery, confectionery, dairy, and others. Bakery was the largest product segment in 2018 and accounted for more than 33% of the total market share. The segment will retain its dominant position throughout the forecast years due to high product demand in the preparation of various bakery products, such as cakes, pastries, cookies, pies, and muffins, as it helps maintain the food texture and structure. Dairy application is expected to be the fastest-growing segment from 2019 to 2025 due to extensive usage of powdered sugar in dairy products, such as cheese, milk shakes, sweets, ice creams, and whipped creams. Rising demand for milk and milk-based beverages on account of increased awareness about the benefits of protein consumption is also expected to boost segment growth.
Product Insights of Powdered Sugar MarketBased on product, the powdered sugar market has been divided into conventional and organic. Conventional product is projected to be the largest segment over the years to come. Conventional product is produced from sugarcane or sugar beets. Thus, easy production process and relatively low prices are estimated to drive their demand, thereby supporting segment growth. In addition, bakery and confectionery manufacturers mostly prefer conventional powdered sugar to maintain proper color and texture of the food products. Organic product segment is projected to witness the fastest CAGR of 4.7% from 2019 to 2025 owing to increasing demand for natural and organic foods. Organic powdered sugar is produced from organic sugarcane and contains amino acids, minerals, vitamins, and antioxidants. Thus, increasing demand for natural and organic foods owing to their natural benefits is also boosting the segment growth.
Regional Insights of Powdered Sugar MarketNorth America was the largest regional market in 2018 and will expand further at a steady CAGR from 2019 to 2025. Government policies and frameworks in U.S. have positively affected the sugar industry. For instance, according to the North American Free Trade Agreement, Mexico was favored with unlimited quantity of export of sugar to U.S. Asia Pacific is estimated to be the fastest-growing market during the forecast years on account of the presence of some of the largest sugar-producing countries, such as India and China, in the region. Furthermore, increased consumption of bakery and dairy foods has increased the product demand.
Market Share Insights of Powdered Sugar MarketKey companies in the market include Südzucker United Kingdom Ltd.; Tate & Lyle Sugars; Cargill, Inc.; Imperial Sugar; Nordic Sugar A/S; American Crystal Sugar Company; Domino Foods, Inc.; Taikoo Sugar Ltd.; Wholesome Sweeteners, Inc.; Nanning Sugar Industry Co., Ltd.; and COFCO International. These companies focus more on product innovation to gain a greater market share.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Powdered Sugar Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global powdered sugar market report on the basis of product, application, and region: Product Outlook (Revenue, USD Million, 2019 - 2030) Conventional Organic Application Outlook (Revenue, USD Million, 2019 - 2030) Bakery Confectionery Dairy Others
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1. | read more...