Brown Sugar Market is projected to witness US$26.5 bn by 2022
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.
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.
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Asia Pacific to Dominate Global Brown Sugar Market
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.
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Increasing Demand for Bakery Products to Benefits Global Brown Sugar Market
“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.