U.S.: Sugars Market 2024

Sugars Market Size in the U.S.

After five years of growth, the U.S. sugars market decreased by -14.6% to $X in 2021. Over the period under review, consumption, however, continues to indicate prominent growth. Sugars consumption peaked at $X in 2020, and then fell in the following year.

Sugars Production in the U.S.

In value terms, sugars production contracted markedly to $X in 2021. Overall, production, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 101%. Sugars production peaked at $X in 2020, and then dropped dramatically in the following year.

Sugars Exports

Exports from the U.S.

In 2021, after two years of decline, there was significant growth in shipments abroad of sugars, sugar ethers and salts, when their volume increased by 28% to X tons. The total export volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked 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. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +46.7% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 21% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Mexico (X tons), Canada (X tons) and South Korea (X tons) were the main destinations of sugars exports from the United States, with a combined 47% share of total exports. Japan, the Netherlands, Germany, India, China, Colombia, France, the UK, Brazil and Belgium lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +16.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and China ($X) constituted the largest markets for sugars exported from the United States worldwide, together accounting for 34% of total exports.

China, with a CAGR of +28.7%, saw the highest growth rate of the value of exports, among 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

In 2021, the average sugars export price amounted to $X per ton, dropping by -8% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.9% 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 +22.9% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 34%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sugars Imports

Imports into the U.S.

In 2021, approx. X tons of sugars, sugar ethers and salts were imported into the United States; increasing by 5.4% against the previous year. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 18%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sugars imports rose rapidly to $X in 2021. In general, imports recorded resilient growth. The growth pace was the most rapid in 2020 when imports increased by 45% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Canada (X tons) were the main suppliers of sugars imports to the United States, together accounting for 55% of total imports. These countries were followed by Austria, Thailand, the Netherlands, Japan and Denmark, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +46.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sugars suppliers to the United States were China ($X), Germany ($X) and Denmark ($X), together comprising 37% of total imports. These countries were followed by Japan, Canada, Austria, the Netherlands and Thailand, which together accounted for a further 20%.

In terms of the main suppliers, Austria, with a CAGR of +34.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugars import price stood at $X per ton in 2021, remaining stable against the previous year. In general, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.6% 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 +69.3% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 67%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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