U.S.: Sugar Market 2024

Sugar Market Size in the U.S.

The U.S. sugar market totaled $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the market value increased by X%. Sugar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sugar Production in the U.S.

In value terms, sugar production amounted to $X in 2022. Over the period under review, production, however, showed a slight decrease. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of sugar in the United States was estimated at less than X kg per ha in 2022, remaining constant against the previous year. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of sugar were harvested in the United States; approximately equating 2021 figures. Overall, the harvested area continues to indicate a relatively flat trend pattern.

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Sugar Exports

Exports from the U.S.

After four years of decline, shipments abroad of sugar increased by X% to X tons in 2022. In general, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sugar exports surged to $X in 2022. Overall, exports, however, saw a dramatic decrease. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for sugar exports from the United States, with a X% share of total exports. Moreover, sugar exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), eightfold. South Korea (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 amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and South Korea (X% per year).

In value terms, Canada ($X) remains the key foreign market for sugar exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average sugar export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a mild curtailment. The growth pace was the most rapid in 2019 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per ton) and Indonesia ($X per ton), while the average price for exports to South Korea ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced mixed trend patterns.

Sugar Imports

Imports into the U.S.

In 2022, approx. X tons of sugar were imported into the United States; increasing by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, sugar imports soared to $X in 2022. Overall, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Mexico (X tons) constituted the largest sugar supplier to the United States, with a X% share of total imports. Moreover, sugar imports from Mexico exceeded the figures recorded by the second-largest supplier, the Dominican Republic (X tons), fourfold. Guatemala (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Dominican Republic (X% per year) and Guatemala (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of sugar to the United States, comprising X% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Mexico stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Dominican Republic (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average sugar import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Nicaragua ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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