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Sugar Industry Market Growth

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The Global Food Sweetener Market is forecasted to reach USD 82.6 billion by 2024, growing at a CAGR of 1.71% during the forecast period (2019 – 2024). The market is dominated by sucrose (table sugar) with 77.2% market share recorded in 2018 and is severely impacted by the decline in prices recorded in 2014. According to FAO, the global sugar market witnessed more than 30% decline in prices. The market experienced slow growth in the next couple of years. However, with the decline of EU raw sugar imports, there was a further drop in global sugar prices in 2017. With the slow but increasing global demand, sugar exports are likely to increase from countries like Australia, the European Union and Thailand, which have all modernized their sugar industry in recent years. Brazil may remain the world’s major producer and exporter nevertheless.

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Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.