Global Sugar Crop Market 2024

Sugar Crop Market Size

The global sugar crop market fell to $X.2B in 2022, with a decrease of X% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the global market attained the maximum level at $X.9B in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Sugar Crop Production

In value terms, sugar crop production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X.7B. From 2014 to 2022, global production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Brazil (X tons), India (X tons) and China (X tons), together comprising X% of global production. Thailand, Pakistan, the United States, Mexico, Russia and Colombia lagged somewhat behind, together comprising a further X%.

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

In 2022, the global average sugar crop yield expanded modestly to X tons per ha, increasing by X% on 2021 figures. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. The global yield peaked in 2022 and is expected to retain growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global sugar crop harvested area amounted to X ha in 2022, remaining constant against the previous year. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2015 to 2022, the growth of the global sugar crop harvested area remained at a somewhat lower figure.

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Sugar Crop Exports

Exports

In 2022, the amount of sugar crops exported worldwide amounted to X tons, with an increase of X% against 2021. Overall, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, sugar crop exports contracted sharply to $X in 2022. In general, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

In 2022, Lao People's Democratic Republic (X tons), distantly followed by Germany (X tons), Myanmar (X tons), Belgium (X tons) and Slovakia (X tons) were the key exporters of sugar crops, together comprising X% of total exports. The following exporters - Hungary (X tons) and the Netherlands (X tons) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X) remains the largest sugar crop supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Germany ($X), with a X% share of global exports. It was followed by Myanmar, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Lao People's Democratic Republic totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (X% per year) and Myanmar (X% per year).

Export Prices by Country

In 2022, the average sugar crop export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2022: its price 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. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Germany ($X per ton) was amongst the lowest.

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

Sugar Crop Imports

Imports

In 2022, overseas purchases of sugar crops increased by X% to X tons, rising for the sixth year in a row after two years of decline. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume 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 2016 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sugar crop imports surged to $X in 2022. In general, imports enjoyed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the main importing country with an import of about X tons, which recorded X% of total imports. Switzerland (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (X%). Croatia (X tons), Lithuania (X tons) and Belgium (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Lithuania (X%), Switzerland (X%), Belgium (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Croatia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Switzerland and Lithuania increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sugar crop importing markets worldwide were China ($X), Switzerland ($X) and the Czech Republic ($X), with a combined X% share of global imports. Belgium, Croatia and Lithuania lagged somewhat behind, together comprising a further X%.

Lithuania, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sugar crop import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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