The specialty sugars market has observed significant growth due to the evolution of restaurants and the packaged food industry. Moreover, drinks such as mocktail and cocktail see demand from the approaching younger generation. A rise in individuals' economic level provides huge market chances for the key players in the market. However, variation in prices of raw materials used for creating specialty sugars is likely to obstruct the specialty sugars market's complete development. With a rise in individuals' economic level, individuals now possess higher buying power than yesteryears, and they do not hesitate to buy or try anything new, which can give them a new taste or a feeling. Health welfares in specialty sugars also have fortified its consumption amid certain age groups. Seeing the factors above, it can be concluded these few factors have the sole competence to drive the market of specialty sugars.
When added to jams, coulis, and cakes, sugar acts as a conserving agent and helps the products last longer. It helps in starting yeast during the fermentation method when dissolved in warm water. The yeast is nurtured using sugar to speed up the process and help yeast activate better.
Global Specialty Sugar Market trends and overview
Extensive use of specialty sweeteners across industries
The market is mainly determined by the vast application spectrum of specialty sweeteners across various end-user sectors. The growing health alarms and negative consumer views about sugar and other high calories have carried high-intensity natural sweeteners and polyols on a center-stage. This trend is probable to remain healthy during the estimated period.
Increasing cases of diabetic patients
Another primary driver is the rising population of overheavy, obese, and diabetic patients, after this category's growth. India is now disreputably referred to as the diabetic capital of the world. Sugar disease is posing many health problems in the country. India has seen an alarming rise in the occurrence of diabetes, according to the International Journal of Diabetes in Developing Countries.
The high price of sugars, climatic turmoil and interference in sugar cane cultivation, trade obstacles amid nations, control on export, and import of sugar are rare, likely factors that can limit the growth of the specialty sugars market.
Impact of COVID-19 in industry
The Indian sugar industry, an essential player in the national economy, has faced many trials in its journey. The risk posed by the rising pandemic novel coronavirus (COVID-19) has been the freshest one. It is moving sugar industry stakeholders and its united industries, not only in India but also worldwide. The whole value chain of the Indian sugar industry, viz., sugarcane, sugar, molasses, ethanol, and their subsequent marketing and export, has been unfavorably pretentious from the spillover impacts.
Global Specialty Sugar Market: Segmentation
Breakdown by Type, Specialty Sugars market has been segmented into Cinnamon Sugar, Baked Sugar, Black Onyx Sugar, Pure Maple Sugar, Breakfast Sugar, Castor Sugar, Others, etc.
Breakdown by Distribution Channel, Specialty Sugars has been segmented into Hypermarket/Supermarket, Departmental Stores, Convenience Stores, Others, etc.
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