Northern America: Sugars Market 2024

Sugars Market Size in Northern America

After five years of growth, the North American sugars market decreased by -14.1% to $X in 2021. Over the period under review, consumption, however, continues to indicate a strong increase. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Sugars Production in Northern America

In value terms, sugars production reduced to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a significant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 87% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Sugars Exports

Exports in Northern America

Sugars exports skyrocketed to X tons in 2021, picking up by 20% on 2020. The total export volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, sugars exports soared to $X in 2021. The total export value increased at an average annual rate of +6.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 20%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

The United States represented the major exporting country with an export of around X tons, which amounted to 73% of total exports. It was distantly followed by Canada (X tons), generating a 27% share of total exports.

Exports from the United States increased at an average annual rate of +1.7% from 2012 to 2021. At the same time, Canada (+2.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +2.1% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest sugars supplier in Northern America, comprising 91% of total exports. The second position in the ranking was taken by Canada ($X), with an 8.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +7.6%.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, which is down by -2.8% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars export price increased by +47.0% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 34%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.9%).

Sugars Imports

Imports in Northern America

In 2021, approx. X tons of sugars, sugar ethers and salts were imported in Northern America; increasing by 4% on the year before. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 20%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, sugars imports stood at $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.1% against 2016 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 37%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

The United States represented the major importing country with an import of about X tons, which resulted at 83% of total imports. It was distantly followed by Canada (X tons), generating a 17% share of total imports.

The United States was also the fastest-growing in terms of the sugars, sugar ethers and salts imports, with a CAGR of +1.2% from 2012 to 2021. Canada experienced a relatively flat trend pattern. The United States (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -2.5% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported sugars, sugar ethers and salts in Northern America, comprising 91% of total imports. The second position in the ranking was held by Canada ($X), with a 9.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States stood at +7.8%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, rising by 1.6% against the previous year. Import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars import price increased by +60.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 58% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.6%).

Source: IndexBox Platform

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