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Sugarcane Market Overview:
According to the International Sugar Organisation, nearly 130 countries in the world participate in sugarcane and sugar beet production and have been providing the world with four major products including cane tops, bagasse, filter muds, and molasses.Being one of the easiest crops to grow, it has been providing countries with a sizable revenue, which has acted as a major growth driver for the global market. Since granulated sugar and liquid sugar are used in nearly all cuisines and in high amounts because of the rapid urbanization, the demand for sugarcane is expected to increase. In 2018, the global sugarcane market size stood at $23.60 billion. During the forecast period 2019–2025, the sugarcane market is deemed to grow at a compound annual growth rate (CAGR) of 1.80%.
The Asia-Pacific (APAC) region has been c producing the most amount of sugar in the world, with its countries such as India, China, Bangladesh, Pakistan, Vietnam, Myanmar, and Indonesia collectively taking steps to increase sugarcane production. This has helped the APAC region to lead the global sugarcane market geographically. The region accounted for 44.60% share of the global market in 2018.
Sugarcane Market Outlook:
Sugarcane, in its true form, is an extremely tall grass and is a major source for sugar production in the world. It finds major applications in the food and beverage industry where sucrose obtained from it is utilized as a raw material. Any beverage produced in its original form utilizes sugar. The domestic consumption of sugar made out of sugarcane has been a prominent application segment and is expected to grow at a compound annual growth rate (CAGR) of 1.56%.
Sugarcane Market Growth Drivers:
1. Sugarcane for Production of Ethanol
Sugarcane is extensively used for the production of ethanol, which is a definitive way to cut down on global warming, which is a widely increasing threat to the world. Starch-based ethanol has become a common substitute for fossil fuel based ethanol and has been widely credited for reducing toxic gases in the atmosphere. This will drive the sugarcane market in the upcoming years.
2. Ease of Farming
Sugarcane, according to farmers, is one of the easiest crops to grow and harvest. Moreover, sugarcane helps in the growth of other crops by acting as a barrier or a windbreak to farms, and protecting the inner crops from being damaged by animals or natural disasters. Farmers around the world have been soliciting the plantation of sugarcane along with vegetables in order to secure the vegetables from getting damaged and to increase yield.
Sugarcane Market Challenges:
A prominent challenge faced by key market players in the sugarcane market is the complexity of sugarcane harvest. There needs to be proper level of synchronization amongst planters, harvesters, and crushers, as sugarcane is generally produced on a large scale. Key market players are trying to combat this challenge by introducing sensor technologies that are able to tell in advance if a particular step is bound to go awry.
Sugarcane Market Key Players Perspective:
Key market players operating in the sugarcane market are Sao Martinho S.A., Cosan Limited, Acucar Guarani, Agro Betel, and Cevasia.
Brazil is a key producer of sugarcane in the world, accounting for around 25% of the world’s sugarcane production. A lot of key market players in Brazil have been focusing on increasing ethanol production since starch-based ethanol is in high demand. They have been consistently investing time and resources on producing some important sugarcane types including Saccharum, Andropogoneae, and Poaceae.
Sugarcane Market Trends:
Disruptive trends in the sugarcane market are mostly based on production techniques and technologies.
1. Enhanced Logistics
With the advent of sensor technology in nearly every field, crop yield forecasting has become easy. Sugarcane cultivation is now being optimized using remote sensing to comprehend the supplication of the product and forecast the right times to harvest. This is a disruptive trend that is being adopted by a multitude of industries including insurance companies, sugarcane refineries, ethanol factories, and others.
2. Genetic Refinement
In order to boost sugarcane production, scientists in Brazil are using genetics to modify the cellular structure of sugarcane in order to enhance its natural sucrose production. This is set to prolong harvesting and help in identification of those types of sugarcane that do not respond to a positive hormonal injection.
Sugarcane Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Sugarcane Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of segments in the Sugarcane Market, and their specific applications in different areas.
Sugarcane Market Report: Industry Coverage
The sugarcane market can be segmented on the basis of type, product type, and end user industry. Based on type, the market can be divided into crystallized sugar and non-crystallized sugar. By product type, the market can be fragmented into raw, refined, brown, and others. And on the basis of end user industry, the market can be segmented into sweetener, bakery product, confectionery, beverages, packaged foods, and pharmaceuticals.
The Sugarcane Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia