The demand for refined cane sugar is gaining traction across the globe. Its application as an additive to sweeten a vast range of food and beverage products is increasing, owing to its high refinement. Consumption of refined cane sugar is surging in both developed and emerging countries. This is largely owing to the increasing consumer preference for healthier and pure food ingredients. Moreover, refined cane sugar is available in several texture variants and also a prominent source of essential nutrients.
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However, this extensive refining process can sometimes reduce its fiber and nutritional content. At the same time, the additional steps involved in processing of refined cane sugar incurs higher costing, which invariably makes it more expensive as compared to standard variants. Countries such as China, India, Vietnam, Thailand and Indonesia are major producers of refined cane sugar. Since sugarcane is one of the most commonly irrigated crops in these countries, the production of various types of sugar is also considerably high. Fact.MR’s latest report reveals that the global refined cane market will reach a valuation of US$ 54,830 Mn by 2022, reflecting a steady CAGR during the forecast period (2017-2022).
Similar to the standard variety, production of refined cane sugar starts from extraction of sugarcane juice, which is then filtered and processed to create sugar crystals. For the standard variety, this is the final stage of production, but refined cane sugar undergoes few additional refinement procedures before being sold in the market. Refined cane sugar is further treated to eliminate any non-sugar content. In the final stage, the sugar crystals are transformed into finer granules. Refined cane sugar has its own unique properties that differentiate it in terms of appearance, use and taste.
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On the basis of product type, the liquid sugar segment is expected to retain is top spot over 2022. In terms of revenue, the segment currently accounts for close to 23% share of the market. Between 2017 and 2022, the liquid sugar segment is expected to witness a CAGR of 5% to surpass a valuation of US$ 12,740 Mn.
Among regions, Asia-Pacific excluding Japan (APEJ) will continue to be the most attractive market for refined cane sugar throughout the forecast period. The market in the region is expected to reflect a moderate CAGR over 2022. Meanwhile, the market in the Middle East and Africa (MEA) is also expected to witness a healthy growth over the assessment period.
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