U.S.: Sugar Crop Market 2024

Sugar Crop Market Size in the U.S.

The U.S. sugar crop market reached $X in 2022, increasing by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Sugar Crop Production in the U.S.

In value terms, sugar crop production expanded markedly to $X in 2022. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

In 2022, the average sugar crop yield in the United States fell to X tons per ha, leveling off at the previous year. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the yield increased by X% against the previous year. Over the period under review, the average sugar crop yield reached the peak level at X tons per ha in 2021, and then shrank slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the sugar crop harvested area in the United States amounted to X ha, leveling off at 2021 figures. In general, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to sugar crop production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Sugar Crop Exports

Exports from the U.S.

In 2022, approx. X tons of sugar crops were exported from the United States; with an increase of X% against the year before. In general, exports showed a slight expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, sugar crop exports skyrocketed to $X in 2022. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for sugar crop exports from the United States, with a X% share of total exports. Moreover, sugar crop exports to Canada exceeded the volume sent to the second major destination, South Korea (X tons), twofold. Mexico (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Mexico (X% per year).

In value terms, the largest markets for sugar crop exported from the United States were Canada ($X), Mexico ($X) and Vietnam ($X), together accounting for X% of total exports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sugar crop export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2015 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Crop Imports

Imports into the U.S.

In 2022, purchases abroad of sugar crops decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports continue to indicate a sharp shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar crop imports surged to $X in 2022. Overall, imports faced a deep reduction. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam (X tons), Mexico (X tons) and Spain (X tons) were the main suppliers of sugar crop imports to the United States, with a combined X% share of total imports. Belgium, Costa Rica, India, Brazil and Canada lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Vietnam ($X) and Belgium ($X) constituted the largest sugar crop suppliers to the United States, with a combined X% share of total imports.

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugar crop import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price showed resilient growth. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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