Global Sugar Crop Market 2024

Sugar Crop Market Size

The global sugar crop market declined to $X.3B in 2022, stabilizing at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, the global market attained the maximum level at $X.3B in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Sugar Crop Production

In value terms, sugar crop production shrank to $X.9B in 2022 estimated in export price. Overall, production continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X.5B. From 2014 to 2022, global production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were Brazil (X tons), India (X tons) and China (X tons), together comprising X% of global production. Pakistan, Thailand, the United States, Mexico, Russia and France lagged somewhat behind, together comprising a further X%.

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

In 2022, the global average sugar crop yield was estimated at X tons per ha, flattening at 2021. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the yield increased by X%. Over the period under review, the average sugar crop yield hit record highs at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the global sugar crop harvested area fell modestly to X ha, remaining constant against 2021 figures. Over the period under review, the harvested area showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. The global harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area stood at a somewhat lower figure.

Sugar Crop Exports

Exports

In 2022, after two years of growth, there was significant decline in overseas shipments of sugar crops, when their volume decreased by X% to X tons. In general, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2014 indices. The growth pace was the most rapid in 2014 with an increase of X%. The global exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, sugar crop exports reduced rapidly to $X in 2022. Overall, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

Germany was the largest exporter of sugar crops in the world, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. Myanmar (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (X%), Slovakia (X%) and Hungary (X%). The following exporters - the Netherlands (X tons) and Lao People's Democratic Republic (X tons) - each reached a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X) remains the largest sugar crop supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Germany ($X), with a X% share of global exports. It was followed by Myanmar, with a X% share.

In Lao People's Democratic Republic, sugar crop exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (X% per year) and Myanmar (X% per year).

Export Prices by Country

The average sugar crop export price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The growth pace was 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 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Germany ($X per ton) was amongst the lowest.

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

Sugar Crop Imports

Imports

In 2022, overseas purchases of sugar crops increased by X% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, sugar crop imports skyrocketed to $X in 2022. Overall, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the largest importer of sugar crops, comprising X% of total imports. Switzerland (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (X%). Croatia (X tons), Lithuania (X tons) and Belgium (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Lithuania (X%), Switzerland (X%), Belgium (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Croatia (X%) illustrated a downward trend over the same period. China (X p.p.), Switzerland (X p.p.) and Lithuania (X p.p.) significantly strengthened its position in terms of the global imports, while Croatia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Switzerland ($X) and the Czech Republic ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of global imports. Belgium, Croatia and Lithuania lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Lithuania, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average sugar crop import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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