Sugar Coated: Unraveling the Sweet Industry
Sugar Industry Overview The global sugar market size was estimated at USD 66.39 billion in 2023 and is projected to grow at a CAGR of 6.5% from 2024 to 2030. The increasing global population leads to a higher demand for sugar as it is a key ingredient in many food and beverage products. Changes in consumer preferences towards sweetened goods and beverages also play a significant role in driving the market growth. Moreover, the food industry heavily relies on sugar for various products like confectionery, baked goods, and processed foods, further boosting demand. Economic development in emerging markets results in higher disposable incomes, leading to increased consumption of sugar-based products. In addition, the use of sugar in biofuel production, government policies, subsidies, and health and wellness trends advocating for reduced sugar consumption all contribute to shaping the market growth. Gather more insights about the market drivers, restrains and growth of the Sugar Market S