IndexBox has just published a new report: ‘World – Sugar – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global sugar market rose to $105.3B in 2019, surging by 1.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, consumption continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2017 with an increase of 6.9% year-to-year. Over the period under review, the global market attained the peak level at $117.5B in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.

Consumption by Country

The countries with the highest volumes of sugar consumption in 2019 were Brazil (26M tonnes), India (25M tonnes) and China (11M tonnes), together accounting for 32% of global consumption.

From 2013 to 2019, the biggest increases were in Brazil, while sugar consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest sugar markets worldwide were India ($11B), Brazil ($8.3B) and China ($7.6B), together accounting for 26% of the global market  (IndexBox estimates). The U.S., Russia, Germany, Thailand, Pakistan, Mexico, France and Indonesia lagged somewhat behind, together comprising a further 30%.

The countries with the highest levels of sugar per capita consumption in 2019 were Thailand (136 kg per person), Brazil (123 kg per person) and France (80 kg per person).

From 2013 to 2019, the most notable rate of growth in terms of sugar per capita consumption, amongst the leading consuming countries, was attained by Brazil, while sugar per capita consumption for the other global leaders experienced more modest paces of growth.

Production By Country

The countries with the highest volumes of sugar production in 2019 were Brazil (42M tonnes), India (24M tonnes) and Thailand (13M tonnes), with a combined 41% share of global production. China, Pakistan, the U.S., Russia, Mexico, France, Germany, Australia and Guatemala lagged somewhat behind, together accounting for a further 30%.

From 2013 to 2019, the most notable rate of growth in terms of sugar production, amongst the main producing countries, was attained by Pakistan, while sugar production for the other global leaders experienced more modest paces of growth.

Global Sugar Exports

In 2019, the amount of sugar exported worldwide shrank to 29M tonnes, which is down by -13.7% against the previous year’s figure. In general, exports continue to indicate a abrupt descent. Global exports peaked at 41M tonnes in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure. In value terms, sugar exports declined to $10.6B (IndexBox estimates) in 2019.

Exports by Country

In 2019, Brazil (16M tonnes) represented the key exporter of sugar, generating 55% of total exports. Thailand (3.8M tonnes) took a 13% share (based on tonnes) of total exports, which put it in second place, followed by Australia (5.7%). The following exporters – Mexico (1,045K tonnes), South Africa (973K tonnes), Swaziland (747K tonnes), the Philippines (538K tonnes) and El Salvador (518K tonnes) – together made up 13% of total exports.

From 2013 to 2019, average annual rates of growth with regard to sugar exports from Brazil stood at -7.1%. At the same time, the Philippines (+34.9%), South Africa (+17.3%), El Salvador (+7.7%), Swaziland (+6.6%) and Thailand (+2.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in the world, with a CAGR of +34.9% from 2013-2019. By contrast, Mexico (-1.6%) and Australia (-7.1%) illustrated a downward trend over the same period.

In value terms, Brazil ($4.5B) remains the largest sugar supplier worldwide, comprising 42% of global exports. The second position in the ranking was occupied by Thailand ($1.7B), with a 16% share of global exports. It was followed by Australia, with a 9.3% share.

Export Prices by Country

The average sugar export price stood at $363 per tonne in 2019, remaining stable against the previous year. In general, the export price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 16% y-o-y. Over the period under review, average export prices attained the maximum at $472 per tonne in 2013; however, from 2014 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Australia ($597 per tonne), while Brazil ($281 per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Australia (+3.8%), while the other global leaders experienced mostly negative trends in the export price figures; only in Mexico and Thailand, the prices practically returned to their outset levels.

Source: IndexBox AI Platform