COVID-19 Impact Analysis on Global Liquid Sugar Market
The COVID-19 pandemic has hit a majority of the fortune companies, out of which many food and beverage companies were hit due to severe disruption in the supply chain. The outbreak of COVID in the liquid sugar market caused distribution since it spread across the globe. Due to the COVID-19 pandemic, the demand for food has been rising but, due to the supply chain disruption, it stopped producers from supplying their products to the market. Moreover, the disruptions in the supply chains are causing wastage of fresh produce, even though there is a high demand for products. The changes in consumer behavior and demand during the pandemic impacted on the value chain in the food and beverage industry. The shutdown of economic activities affected all the sector. Furthermore, due to transportation barriers, liquid sugar market demand is reduced. The export of products has been reduced due to emerging concerns about the spread of the COVID-19 pandemic. All these factors impacted negatively on the liquid sugar market.
Market Overview- Global Liquid Sugar Market
Market Drivers
The growing demand for low-calorie sugar is a major factor driving the liquid sugar market. The increasing use of liquid sugar in the food and beverage industry boosts the liquid sugar market demand. The growing application of liquid sugar in processed food manufacturing further drives the global liquid sugar market growth. Liquid sugar is mostly preferred in restaurants to baked products or cakes. Besides, liquid sugar aids in the regulation of sugar crystallization in sweets and the prevention of ice crystal formation in frozen desserts, fueling its growth in the bakery industry. The increasing government initiatives to increase sugar cultivation, which is used as a major raw material for the production of liquid sugar, is fueling the global liquid market growth. The liquid sugar saves the labor cost and also saves the time taken for the filtration of normal sugar, which fuels the demand of the liquid sugar market.
Market Restraints
The high raw material, transportation and distribution costs are a major factor restraining liquid sugar market growth. Also, rising obesity, diabetes and heart disease due to food that content high level of sugar is another factor hindering market growth.
Market Opportunities
Due to liquid sugar ease in the consistency in production processes, such as dissolving, filtering and other processes, it is difficult to achieve by using the granular or powder form. Besides, increasing demand for low-calorie sugar will create a major opportunity for the liquid sugar market.
Market Growth Challenges
Growing obesity, diabetes, and heart disease increasing demand for sugar-free products is a major challenge faced by the liquid sugar market.
Cumulative Growth Analysis
The report provides in-depth analysis of global liquid sugar market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The growing application of liquid sugar in processed food manufacturing are further drive the global liquid sugar market growth which is a key factor rising liquid sugar demand is expected to witness the liquid sugar Market growth at a specific CAGR from 2022-2028.
Market Segmental Overview
The global liquid sugar market comprises of different market segment like form, source application, and geography.
Liquid Sugar Market by Form
The forms studied in the global liquid sugar market are organic sugar and conventional sugar. The organic sugar is an alternative to regular sugar with high calories. The growing trend of a healthier lifestyle in the population has increased demand for organic liquid sugar. The government policies supporting the production and sale of organic products and promoting the production of natural, organic products in small-scale industries boost segment growth. The increase in demand for natural food and beverages provides a major opportunity for the organic liquid sugar market.
Liquid Sugar Market by Source
The sources studied in the global liquid sugar market are cane and beet. The cane segment accounted for the largest share in the liquid sugar market. Due to the quantity of sugarcane and other features such as caramelization and flavour, sugarcane sugar is always better than beet sugar. Sugarcane liquid sugar is easily available and it comes with multiple price options, which is pushing the growth of sugarcane liquid sugar.
Liquid Sugar Market by Application
Liquid Sugar finds its application in confectionery, bakeries, beverages and others. The bakery goods segment accounts for the largest share in the liquid sugar market. Liquid sugar has properties which are good for baked goods, such as holding moisture and maintaining freshness, unique flavour, and pasteurization. Therefore, the bakery sector is growing in the usage of liquid sugar owing to is properties. Bakery products are in high demand due to their convenience and affordability. The growing demand for liquid sugar in the bakery sector along with its adoption in restaurants and food outlets owing to its faster solubility are fuelling the liquid sugar market. Furthermore, the bakery industry is constantly expanding with the launch of innovative products. Therefore, the demand for liquid sugar is growing.
Liquid Sugar Market by Geography
On the basis of geography, the liquid sugar market is segmented into, North America, Asia-pacific, Europe, and the rest of the world. The Asia-Pacific region segment commanded the largest share in the liquid sugar market. The region is dominating owing to massive demand in countries like China and India. India is the world’s second-largest sugarcane producer and it is generating a lot of revenue. Furthermore, the growth in the food sector in Asian countries and increasing government favourable policies and regulatory frameworks drive the market growth. The easy availability of the raw material drives the liquid sugar market demand in the Asia-Pacific region. Increasing disposable income and growing demand for sweet bakery products boost the liquid sugar growth in the region.
Competitive Landscape Analysis
The competitive landscape analysis of the global liquid sugar market is certainly based on the range of market players operating in the packaging industry. The liquid sugar market is highly competitive due to the presence of a large number of players in the market. The demand for the liquid sugar market has increased due to the growing application of liquid sugar in processed food manufacturing are and the key players are working hard to increase their market value to raise their company presence globally. The key player offers a wide range of liquid sugar based on form and source. The market has major competitive analysis based on the new product, eco-friendly products, quality, and price.
The key players studied in the market are, Boettger Gruppe, Tate & Lyle PLC, Sugar Australia Company Ltd, Zukán S.L.U., Banah, Südzucker, Maui Brand Sugars, Natural Raw Liquid Sugar, Eye kandy, Da vinci gourmet and Monin, Cargill Incorporated, Archer Daniel Midland, Raizen SA, Sucroliq S.A.P.I DE C.V, Toyo Sugar Refining Co. Ltd, Galam Group, CSC Sugar LLC, Wilmar International, Raffinerie Tirlemontoiseâ, Imperial Sugar Company and among others.
