U.S.: Sugar Crop Market 2024

Sugar Crop Market Size in the U.S.

The U.S. sugar crop market stood at $X in 2022, rising by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Sugar Crop Production in the U.S.

In value terms, sugar crop production rose rapidly to $X in 2022. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

In 2022, the average yield of sugar crops in the United States contracted modestly to X tons per ha, which is down by X% on the year before. In general, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. The sugar crop yield peaked at X tons per ha in 2021, and then declined modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of sugar crops in the United States totaled X ha, leveling off at the previous year's figure. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the harvested area increased by X% against the previous year. The sugar crop harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

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Sugar Crop Exports

Exports from the U.S.

In 2022, sugar crop exports from the United States skyrocketed to X tons, with an increase of X% on 2021. In general, exports enjoyed a mild expansion. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sugar crop exports soared to $X in 2022. Over the period under review, exports saw prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Canada (X tons) was the main destination for sugar crop exports from the United States, with a X% share of total exports. Moreover, sugar crop exports to Canada exceeded the volume sent to the second major destination, South Korea (X tons), twofold. Mexico (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Mexico (X% per year).

In value terms, the largest markets for sugar crop exported from the United States were Canada ($X), Mexico ($X) and Vietnam ($X), together comprising X% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sugar crop export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price saw buoyant growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Crop Imports

Imports into the U.S.

In 2022, overseas purchases of sugar crops decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports faced a precipitous setback. The growth pace was the most rapid in 2015 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar crop imports surged to $X in 2022. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Mexico (X tons) and Spain (X tons) were the main suppliers of sugar crop imports to the United States, with a combined X% share of total imports. Belgium, Costa Rica, India, Brazil and Canada lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Vietnam ($X) and Belgium ($X) constituted the largest sugar crop suppliers to the United States, with a combined X% share of total imports.

Among the main suppliers, Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sugar crop import price amounted to $X per ton, surging by X% against the previous year. In general, the import price continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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