LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global sugar market and the market is poised to experience spend growth of more than USD 5 billion between 2018-2023 at a CAGR of over 1% during the forecast period. Request Free Sample Pages.
Medical studies have confirmed the onset of health issues such as heart disease, obesity, and diabetes owing to the consumption of sugar in the long run. This has sounded the alarm amongst the proliferation of health-conscious demography who are shifting their preference towards foods with low or no sugar content. This will have a serious impact on the demand in the sugar market as our analysts predict that the spend momentum of the sugar market will not exceed 2% in the next five years. On the other hand, the steady popularity gained by convenience foods such as ready-to-eat and processed foods will have a positive impact on the spend growth of the sugar market.
In terms of spend growth, North America followed by Europe will lead the global sugar market. Factors such as the extensive usage of sugar as an excipient in the pharmaceutical industry and a high consumption rate of confectionary will drive the demand growth in the sugar market in these regions.
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Insights into the sugar price trends
- The growing demand for biofuels is motivating suppliers from the key production regions to compromise on their sugar production capacity to increase their ethanol production. This will create a supply crunch that will invariably drive the sugar procurement prices across the globe.
- The cost of raw materials such as sugarcane is highly dependent on factors such as weather conditions in crop-growing regions. This will lead to a moderate level of uncertainty in the prices of raw materials for category suppliers that results in volatility in the sugar procurement prices.
Insights into strategies that will help buyers optimize their sugar procurement spend
- It is prudent of buyers to engage with suppliers who have adopted backward integration practices in their supply chain. Such sugar suppliers tend to have a lower dependency on third-party vendors and sub-contractors for raw materials and will have higher capabilities in providing on-time delivery and cost-effectiveness.
- It is imperative for category managers to evaluate the efficiency of sugar suppliers’ logistics and distribution network and the level of dependency on third-party logistics providers. Suppliers who have implemented effective logistics management and network optimization mechanisms can enable longer shelf-life of category products and minimize inventory shrinkage costs.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Sugar Procurement Market Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
To stay on top of latest trends and supply market information, check out SpendEdge’s knowledge center on COVID-19 impact assessment.
The top sugar suppliers enlisted in this report
This sugar procurement market intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- Südzucker AG
- Cosan Ltd.
- Tereos SCA
- Nordzucker AG
- Associated British Foods Plc
- Wilmar International Ltd.
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Some of the key topics covered in this report are:
- Sugar market spend segmentation by region
- Sugar supply market analysis
- Sugar procurement best practices
- Regional spend opportunity for sugar suppliers
- Sugar suppliers cost structure
- Total cost of ownership analysis in the sugar market
- Sugar suppliers pricing models analysis
- Category management objectives to promote an optimized sugar procurement
- Cost saving opportunities in the sugar market
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