Sugar Market

Sugar market: get the most recent facts and figures empowered by an Ai-driven BI tool. Info include production, trade, market prices, imports, market size, exports, companies, and consumption. There is a split by region, including Russia, Latin America, the U.S., the Middle East, China, the U.K., Africa, and EU. Market trends and forecast to 2030 are also provided in the snapshots.


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Sugar - World's Largest Markets

RatingCountry
1China
2India
3United States
4Germany
5Russia

In value terms, the largest sugar markets worldwide were China, India and the United States, with a combined 33% share of the global market. Germany, Russia, Thailand, Brazil, Mexico, Indonesia, France, Pakistan, Egypt and Australia lagged somewhat behind, together comprising a further 29%.

Australia (+79.0% per year) saw the highest rates of growth with regard to market size, among the main consuming countries over the period under review, while sugar market for the other global leaders experienced more modest paces of growth.

Sugar Prices

Lowest Prices - FOB - Top Exporters

COUNTRY201920202021CAGR,
2019-2021
USD per ton
South Africa352350293-8.8%
Thailand330293317-2.0%
Guatemala489526346-15.9%
Cuba358354356-0.3%
India3643344055.5%
Brazil3873744062.4%
Swaziland4915205051.4%
Mexico4834915092.7%
Average3843834032.4%

Prices varied noticeably by the country of origin; the country with the highest price was Mexico ($509 per ton), while South Africa ($293 per ton) was amongst the lowest.

From 2019 to 2021, the most notable rate of growth in terms of prices was attained by India, while the other global leaders experienced more modest paces of growth.

Highest Prices - CIF - Top Importers

COUNTRY201920202021CAGR,
2019-2021
USD per ton
United States5174706179.2%
Nigeria5535985802.4%
Japan34437350721.4%
Canada31928545018.8%
Morocco3403623511.6%
Indonesia3323453391.0%
Malaysia3313463391.2%
China3193303250.9%
South Korea3153233190.6%
Saudi Arabia3113143130.3%
Bangladesh2782822800.4%
Algeria283275278-0.9%
Iraq278263269-1.6%
Average3503473743.4%

Prices varied noticeably by the country of destination; the country with the highest price was the United States ($617 per ton), while Iraq ($269 per ton) was amongst the lowest.

From 2019 to 2021, the most notable rate of growth in terms of prices was attained by Japan, while the other global leaders experienced more modest paces of growth.

Sugar - Top Importers

COUNTRY201920202021CAGR,
2019-2021
billion USD
Indonesia1.31.81.69.0%
United States1.21.11.34.4%
China0.91.51.215.2%
Algeria0.60.70.71.4%
Malaysia0.60.70.66.0%

In value terms, the largest sugar importing markets worldwide were Indonesia ($1.6B), the United States ($1.3B) and China ($1.2B), with a combined 29% share of global imports. Algeria, Malaysia, Bangladesh, Nigeria, South Korea, Canada, Japan, Morocco, Saudi Arabia and Iraq lagged somewhat behind, together comprising a further 38%.

In terms of the main importing countries, Canada recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Sugar - Top Exporters

COUNTRY201920202021CAGR,
2019-2021
billion USD
Brazil3.15.77.958.6%
India0.50.61.464.0%
Thailand1.90.91.4-14.2%
Mexico0.40.40.4-7.7%
Swaziland0.40.40.40.6%

In value terms, Brazil ($7.9B) remains the largest sugar supplier worldwide, comprising 57% of global exports. The second position in the ranking was occupied by India ($1.4B), with a 10% share of global exports. It was followed by Thailand, with a 10% share.

From 2019 to 2021, the average annual rate of growth in terms of value in Brazil totaled +58.6%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+64.0% per year) and Thailand (-14.2% per year).

Sugar - Market Forecast

Driven by increasing demand for sugar worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of for the period from 2021 to 2030, which is projected to bring the market volume to by the end of 2030.

Sugar - Product Coverage

  • HS 170111 - Sugars; cane sugar, raw, in solid form, not containing added flavouring or colouring matter
  • HS 170112 - Sugars; beet sugar, raw, in solid form, not containing added flavouring or colouring matter
  • HS 170113 - Sugars; cane sugar, raw, in solid form, as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter
  • HS 170114 - Sugars; cane sugar, raw, in solid form, other than as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter

Source: IndexBox Market Intelligence Platform

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