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The growing demand for sugarcane to be used as a biofuel has been off-key market help and has driven the market forward.
HYDERABAD, TELANGANA, INDIA, January 2, 2023 /einpresswire.com / -- IndustryARC, in its latest report, predicts that the global sugar cane market size is estimated to reach $221.4 billion by 2027. Furthermore, it is poised to grow at a CAGR of 5.1% over the forecast period of 2022-2027. Sugar cane has been a predominant food crop that has been used to fulfill the demand for refined sugars, by containing sucrose- the naturally occurring sweet compound. Additionally, sugarcane has been extensively used and is being focused on as feedstocks for using it within the biofuels industries. Governments are now focusing on reducing emissions and have standardized a timeline through which a hybrid model of fuels is being used across industries. Additionally, ethanol production has been seeing a robust interest from various private and governmental agencies as it is a clean-affordable and extremely low carbon biofuel. Another key part of the sugar cane is bagasse, which is primarily used in the manufacturing of animal feeds as a source of cellulose. However, the market is facing tremendous heat owing to the presence of alternative sweeteners such as stevia, sorghum, and various other artificial sweeteners.
However, the growing end-user industrial usage of sugar cane as a better flavor provider in comparison to beet sugar along with the growing usage of sugar beet for biofuel production has been noticed as a key driver for the Global Sugar Cane Industry for the projected period of 2022-2027.
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Key takeaways:
This IndustryARC report on the Global Sugar Cane Market highlights the following areas -
1. Geographically, Asia-Pacific's sugar cane market held a dominant market share in the year 2021. The region leads the consumption aspect as well as the production dimension owing to robust demand and off-shore plants and manufacturing capacitors of multinationals in regions such as India, Thailand, and China amongst various others. Moreover, Asia-Pacific is expected to offer lucrative growth opportunities over the forecast period of 2022-2027. It is owing to the heightened demand being observed from dairy and confectionery industries along with soft drinks and other beverages.
2. The growing end-user industrial usage of sugar cane as a better flavor provider in comparison to beet sugar along with the growing usage of sugar beet for biofuel production has been noticed as a key driver for the market. However, a decline in the usage of cane sugar owing to health challenges along with other supply and weather constraints impedes market growth.
3. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Global Sugar Cane Market Report.
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Segmental Analysis:
Global Sugar Cane Market Segmentation Analysis- By Source : The global sugar cane market based on the source can be further segmented into VSS or Voluntary Sustainable Standards and Conventional. Conventional held a dominant market share in the year 2021.
Global Sugar Cane Market Segmentation Analysis- By Application : The global sugar cane market based on the application can be further segmented into Food Manufacturing Industries and Biofuel Industries. Food Manufacturing Industries held a dominant market share in the year 2021.
Global Sugar Cane Market Segmentation Analysis- By Geography : The global sugar cane market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World.
Competitive Landscape:
The top 5 players in the Sugar Cane Industry are -
1. Global Organics
2. DO-IT Food Ingredients
3. Louis Dreyfus Company B.V.
4. Wilmar Sugar Australia
5. ASR Group
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