Allied Market Research

2024

Caster Sugar Market

Caster Sugar Market Size, Share, Competitive Landscape and Trend Analysis Report by Category (Organic, Conventional), by End User (Food Retail, Food Service, Food Processing) : Global Opportunity Analysis and Industry Forecast, 2022-2032

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Author's: | Roshan Deshmukh
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Caster sugar, also known as superfine sugar or baker's sugar, is a type of granulated sugar that is finer in texture than regular granulated sugar. Caster sugar is often used in baking and cooking because its fine texture dissolves quickly and distributes more evenly in recipes, resulting in a smoother texture and more consistent results. Caster sugar is made by grinding granulated sugar into smaller particles and is commonly used in recipes for cakes, cookies, and other baked goods, as well as in meringues and other desserts. In addition, sugar is often used in the process of fermentation to feed yeast and promote growth. As yeast can consume different types of sugars, including glucose, fructose, and sucrose, which is what caster sugar is made of. A growing number of bakeries and cafés and the quick development of the hospitality sector driven by economic and global tourism trends are predicted to promote market growth. The primary factors supporting the growth of the globally this market during the forecast period include increased use of the product in the food processing industry and brand awareness advertising by manufacturers.
Caster sugar is typically driven by demand from the food and beverage industry and individual consumers who use it for home baking and cooking. As The COVID-19 pandemic has led to a surge in home baking and cooking, as people spend more time at home and look for ways to stay entertained and feed their families. This has led to increased demand for baking ingredients, including caster sugar. Moreover, as more people have become interested in cooking and baking, the demand for high-quality, premium ingredients like caster sugar grows. It is frequently used in more upscale or gourmet recipes, which are gaining popularity among food enthusiasts. Furthermore, as people have become more health conscious and concerned about the environment, there has been an increase in demand for organic, all-natural, delicious, healthful, and clean-label ingredients. Due to FDA updated clean label regulations that show serving in bold font and serving size 7 daily value is updated, a majority of customers around the global now want clean label foods. The average life expectancy in many Sub-Saharan African countries is less than 60 years, compared to more than 80 years in Europe and Japan, owing to healthy food consumption, which is expected to boost caster sugar sales and contribute to market growth over the forecast period. Overall, the demand for caster sugar is being driven by a combination of convenience, consumer trends, and changing tastes and preferences.
Although, the increasing number of diabetics patients around the global is hindering the market growth of the caster sugar market. This is a source of carbohydrates and can raise blood sugar levels when consumed in excess. According to the World Health Organization, the number of people living with diabetes has been increasing over the past few decades. As of 2021, it is estimated that 422 million adults (age 18 years and older) are living with diabetes globally. This represents approximately 6% of the global adult population. Furthermore, Sugar consumption has been linked to various health problems, such as obesity, diabetes, and cardiovascular disease. As such, there is growing consumer concern about the health impacts of sugar consumption, which could impact demand for caster sugar. In addition, supply chain disruption due to weather events, transport disruptions, crop failures, and fluctuating sugar prices due to weather conditions, government policies, and global supply and demand are the factors that can impact the market growth of this market. Moreover, the growing trend towards reducing sugar consumption, which has led to the creation of sugar-free and low-sugar versions of popular recipes. This has led to a decrease in demand for traditional caster sugar and an increase in demand for alternative sweeteners.
The caster sugar market is expected to experience healthy growth in the future, with companies focusing on product innovation and new product launches to capture a larger share of the market. In addition, with the increasing trend towards sustainability and ethical sourcing, companies are expected to focus on producing environmentally friendly and ethically sourced caster sugar, which could further fuel growth in the market.
New development in the caster sugar market.
In February 2021, Raizen, the joint venture of Cosan SA and Royal Dutch Shell plc, acquired Biosev SA in a deal worth $670.3 million. The purchase was made by paying Biosev shareholders with 3.5% of Raizen's preferred shares and an additional 1.49% of redeemable shares. Biosev SA is a major player in Brazil's sugar and ethanol industry, with a total of 35 mills and a sugar cane crushing capacity of 105 million tons per year. The acquisition of Biosev will significantly expand Raizen's production and distribution capabilities in the biofuels sector, further consolidating its position as one of the largest sugar and ethanol producers in the global.
In February 2021, ASR Group (American Sugar Refining Inc), the largest cane sugar refining company in the global, invested Bonumose, a food technology company. The investment was made to help produce commercial low-cost, plant-based alternative sweeteners, specifically tagatose and allulose, to meet a wide range of consumer needs. Bonumose has developed and patented a production process for high-purity rare sugars, including tagatose and allulose, which are extracted from low-cost, abundant, plant-based starches. These alternative sweeteners have fewer calories than traditional sugars and a negligible glycemic index impact, making them a healthier choice for consumers who are seeking to reduce their sugar intake.
In November 2020, Louis Dreyfus Company Holdings B. V. (LDCH) signed an agreement to sell its indirect 45% equity stake in Louis Dreyfus Company B.V. (LDC) to Application Driven Quality of Service (ADQ), a state-owned holding company based in Abu Dhabi, United Arab Emirates. As part of the transaction, LDCH and ADQ also signed a long-term commercial supply agreement for the sale of agri-commodities to the United Arab Emirates.
Segment Overview: 
By category: the caster sugar market is divided into organic and conventional. The demand for organic caster sugar has been increasing in recent years, as more consumers are looking for organic and natural products. Organic caster sugar is produced using organic methods, without the use of synthetic pesticides, fertilizers, or other chemicals. This makes it more environmentally friendly and healthier for consumers. However, organic caster sugar is generally more expensive than conventionally produced caster sugar, so the demand for organic caster sugar may be more limited to consumers who prioritize organic and natural products and are willing to pay a premium for them.
However, conventional caster sugar is the most commonly available type of caster sugar, and it is produced using conventional methods that may involve the use of synthetic pesticides, fertilizers, or other chemicals. It is a highly refined sugar with a fine texture, often used in baking and desserts. Conventional caster sugar is generally less expensive than organic caster sugar, and it is widely used in the food industry due to its availability and low cost. However, some consumers may prefer organic caster sugar over conventional caster sugar due to concerns about the use of synthetic chemicals in conventional farming and food production.
By end-user: the caster sugar market is segmented into food retail, food services and food processing. Food retail is categorized into supermarkets and hypermarkets, convenience stores, online, and others. Food processing is also distributed into bakeries and confectionery, beverages and others. The food processing segment is expected to hold a large share. Caster sugar is primarily used as a preservative in a variety of food and beverage products, such as confectioneries and bakery goods, to prevent the growth of microorganisms. It is also used to prevent the formation of large ice crystals in frozen foods such as ice cream. In contrast, sugar promotes fermentation in yeast-based products. It's also used to keep moisture in baked goods and prevent staleness. It's an instant-dissolving sugar deal for meringues. It can also be found in baking, desserts, cocktails, and drinks.
By region: North America is dominating the market share over the forecast period. Caster sugar is widely used in North America for a variety of food and beverage applications, including baking, confectionery, and beverage sweetening. The U.S. and Canada are the primary markets for caster sugar in North America, with many leading sugar producers and distributors operating in these countries. Some of the leading companies in the caster sugar market in North America include Domino sugar, C&H sugar, and Imperial sugar. These companies offer a range of caster sugar products that cater to different customer needs and preferences, including organic and sustainably-sourced options.
Europe is expected to be the fastest-growing region in the upcoming years. Europe is widely used for baking and sweetening purposes. Many popular European desserts and baked goods call for caster sugar as an ingredient, such as macarons, meringues, and sponge cakes. In addition, some European countries have a strong tea-drinking culture, which also contributes to the demand for caster sugar.
 
Competitive analysis and profiles of the major players in the caster sugar market are American Crystal Sugar Company, British sugar plc., Cosum Beet Company, Dhanraj sugars Pvt. Ltd, CSR Ltd, Gempack foods, Goodman fielder, India Tree, Louis Dreyfus Company, Mitr Phol Sugar Corporation. Ltd., Nordzucker AG, Sunshine sugar, Tate & Lyle sugars (ASR Group), Thai Roong Ruang Group, and Wilmar International Ltd.

Caster Sugar Market Report Highlights

Aspects Details
Caster Sugar Market By Category
By Category
  • Organic
  • Conventional
Caster Sugar Market By End User
By End User
  • Food Retail
    • Supermarkets and Hypermarkets
    • Convenience Stores
    • Online
    • Others
  • Food Service
  • Food Processing
    • Bakery and Confectionery
    • Beverages
    • Others
Caster Sugar Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

TATE & LYLE SUGARS (ASR GROUP), British Sugar plc, India Tree, Dhanraj Sugars Pvt. Ltd., Gem Pack Foods, Thai Roong Ruang Group, Mitr Phol Sugar Corporation., Ltd., Goodman Fielder, Sunshine Sugar, Cosun Beet Company

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Caster Sugar Market

Global Opportunity Analysis and Industry Forecast, 2022-2032