Market Overview
Global COVID-19 Pandemic Impact on Organic Sugar Market is estimated to register a CAGR of 7.50% and reach USD 24,527.3 Million by 2026.
The primary drivers for organic sugar market growth include rising demand for organic products, as well as government initiatives to promote organic products. Consumer awareness is growing regarding the adverse health effects of chemicals. This growing awareness has made them health conscious, which is why they prefer products with minimal or no chemical substances. Increasing health awareness and consumer inclination to healthy and nutritional food products drive demand for organic food. Consumers are also concerned about the environmental and health impacts of chemicals, which lead to a shift to organically grown and processed products.
Consumers are willing to pay much higher prices for healthy food products, propelling the food industry to adopt organic sugar. During the growing stage, sugarcane crops are increasingly sprayed with harmful pesticides and chemicals to protect crops from diverse pests and weeds. These pesticides can cause serious consumer health problems. But organic sugarcane farming eliminates the risk of harmful pesticides being used. Another crucial factor that spikes demand for organic sugar is therefore the lack of pesticides.
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This shift in consumption patterns has influenced food producers to adopt ingredients that are both natural and organic. The number of organic food processors has increased meaningfully. In addition, the vast global confectionery market is driving the growth of the organic sugar market, as sugar is a key ingredient in pastry products.
However, the high price of organic sugar is expected to hamper the growth of the organic sugar industry globally, along with stringent regulations for organic products. However, the increasing adoption of organic farming practises in emerging economies and increased demand for organic brown sugar promise lucrative opportunities on the global organic sugar market.
Competitive Dashboard
The eminent Players in the Global COVID-19 Pandemic Impact on Organic Sugar Market include Pronatec AG (Switzerland), Tereos S.A. (France), Jalles Machado S / A (Brazil), Cosan Ltd. (Brazil), Bunge Limited (US), Nordzucker AG (Germany), Südzucker AG (Germany), Lexem India Pvt. Ltd. (India), LOC Industries, Inc. (US), and Azucarera La Felsina S.A. (Paraguay).
Segment Analysis
Global COVID-19 Pandemic Impact on Organic Sugar Market has been segmented based on the Source, Application, and Region. By source, the global organic sugar market has been divided into sugarcane, sugar beet, and others. The sugarcane segment accounted for the highest market share of 80.29% in 2019 and is expected to dominate the market over the review period.
Based on application, the global organic sugar market has been classified into bakery & confectionery, beverages, dairy & frozen desserts, sweet & savory snacks, and others. Bakery & confectionery finds massive application in the global organic sugar market.
Regional Analysis
Geographically, the Worldwide demand for organic sugar has been listed as North America, Europe, Asia-Pacific and the rest of the world.
Europe led the industry according to the MRFR report, accounting for the majority share in 2019. The organic sugar market in North America accounted for second-largest market share in 2020.
Asia-Pacific is expected to post the highest CAGR over the projected era. Changing consumer purchasing habits, increasing consumer worries about health, the climate and animal welfare, along with their ability to pay higher prices for nutritious food, are fueling demand in the Asia-Pacific market for organic food and beverages.
Latin America will continue to hold the highest market share of the Global Organic Sugar Industry, which is estimated to see the fastest growth rate over the forecast period. Moreover, increasing the popularity of organic sugar due to their impending applications in food industries, along with pharmaceutical industries, is supporting their market growth on the global level. Rising health awareness and amassed disposable income have been playing a vital role in organic sugar growth from the past few years.
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