Sugar rose to 14.79 USd/Lbs on December 2, 2025, up 0.37% from the previous day. Over the past month, Sugar's price has risen 0.99%, but it is still 30.67% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Sugar - values, historical data, forecasts and news - updated on December of 2025.

The Global Cane Sugar Market Report Segments the Industry Into Ingredient Type (White Cane Sugar, and More); Category (Organic and Conventional); Form (Crystallized Sugar and Liquid Syrup); Application (Bakery & Confectionery, Dairy, Beverages, Savory Snacks, and More); and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

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Raw Sugar Market Size 2025-2029

The raw sugar market size is valued to increase USD 152.7 million, at a CAGR of 2.3% from 2024 to 2029. Rise in demand for raw sugar in food and beverage applications will drive the raw sugar market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 45% growth during the forecast period.
By Product - Liquid sugar segment was valued at USD 765.70 million in 2023
By Type - Conventional segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 14.37 million
Market Future Opportunities: USD 152.70 million
CAGR : 2.3%
APAC: Largest market in 2023

Market Summary

The market encompasses the production, distribution, and consumption of raw sugar, a fundamental sweetener in various industries. Key applications include food and beverage manufacturing, where raw sugar's distinctive taste and properties contribute to the production of a wide range of products. A significant market driver is the rising demand for raw sugar in this sector, particularly due to increasing consumer preferences for natural and organic food items. Another influential factor is the emergence of e-commerce platforms, enabling easier access to raw sugar for businesses and consumers alike.
However, the market faces challenges, such as high production costs, which can impact profitability. According to recent reports, raw sugar accounts for approximately 70% of the global sugar market share. This dynamic market continues to unfold, with ongoing trends and patterns shaping its future.

What will be the Size of the Raw Sugar Market during the forecast period?

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How is the Raw Sugar Market Segmented and what are the key trends of market segmentation?

The raw sugar industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Liquid sugar
  Crystallized sugar


Type

  Conventional
  Organic


Base

  Sugarcane-based
  Beet-based


Application

  Food & Beverage Industry
  Biofuel Production
  Pharmaceuticals
  Animal Feed
  Chemicals


End-use Industry

  Food Processing
  Beverage Production
  Ethanol Production
  Pharmaceutical & Personal Care
  Chemical Manufacturing


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

The liquid sugar segment is estimated to witness significant growth during the forecast period.

Raw sugar undergoes a transformation into liquid sugar through the addition of water, resulting in a viscous syrup that offers convenience and versatility for manufacturers. This form of sugar is extensively utilized in various industries, particularly in the production of beverages like carbonated soft drinks, sports drinks, and juices. Its quick and even dissolution properties make it an indispensable ingredient, ensuring consistent product texture and flavor. In the baking sector, liquid sugar is employed for creating cakes, cookies, and pastries. Its stability is a significant advantage, allowing manufacturers to maintain precise control over their products' characteristics. According to recent studies, the adoption of liquid sugar in the food and beverage industry has experienced a notable increase of around 18%, underscoring its growing popularity.

Moreover, advancements in sensor technologies and sugar refining processes have led to improvements in reducing sugars content, resulting in higher sugar purity. Centrifugal separation and byproduct valorization techniques have been instrumental in optimizing sugarcane processing efficiency. Wastewater treatment and polarization degree measurement are essential components of quality control systems, ensuring the production of superior sugar. Data Analytics applications, such as process control algorithms, have enabled predictive modeling and energy efficiency improvements, contributing to the sugar industry's ongoing evolution. Automation technologies and process optimization strategies have also played a crucial role in enhancing productivity and reducing costs. The production of molasses, a byproduct of sugar refining, has gained significant attention due to its potential applications in various industries.

Turbidity measurement and color removal techniques are essential for maintaining the desired clarity in sugarcane juice clarification. Crystallization process advancements, including crystal size distribution and predictive modeling, have led to more

The global liquid sugar market is forecast to grow from USD 81.1 million in 2025 to USD 142.3 million by 2035, registering a CAGR of 5.8% over the forecast period.

Attributes	Description
Estimated Global Liquid Sugar Industry Size (2025E)	USD 81.1 million
Projected Global Liquid Sugar Industry Value (2035F)	USD 142.3 million
Value-based CAGR (2025 to 2035)	5.8%

Semi-annual Market Update for Liquid Sugar Market

Particular	Value CAGR
H1	5.4 % (2024 to 2034)
H2	5.5 % (2024 to 2034)
H1	5.7 % (2025 to 2035)
H2	5.8 % (2025 to 2035)

Country-Wise Insights

Country	CAGR, 2025 to 2035
USA	5.4%
Germany	4.9%
China	6.5%
Japan	5.2%
India	7.1%

The sugar market size 175.86 MMT in 2024. The industry is expected to grow at a CAGR of 1.30% during the forecast period of 2025-2034. By 2034, the market is expected to reach a volume of 200.11 MMT.

The global sugar market is experiencing rapid growth due to rising consumption in emerging economies. Population growth, urbanization, and increasing disposable incomes in Asia and Africa are key contributors. According to industry reports, the global consumption of sugar was estimated to reach 182.867 million tonnes in 2024-25. India and China are also leading this surge, with growing middle classes consuming more processed foods and sugary beverages.

Government biofuel mandates and evolving energy market trends are shaping decisions in the sugar industry, particularly in countries where sugarcane is a key feedstock for ethanol production. Brazil and India are largely implementing ethanol blending programs. In October 2024, India accelerated its ethanol blending targets with a 20% ethanol-petrol blending by 2025. These policies are incentivizing producers to divert sugarcane from sugar production to ethanol when fuel prices are high or blending mandates are increased.

Packaging innovations are boosting the sugar market dynamics for improving product freshness, convenience, and sustainability. Advanced packaging materials and recyclable plastics are limiting environmental impacts, appealing to eco-conscious consumers. In June 2024, prominent French sugar brand Cristalco transitioned its 500g Daddy Sugar icing sugar container from plastic to a fully recyclable Sonoco cardboard design. These innovations are enhancing brand differentiation and shelf appeal, allowing companies to attract new customers and enter niche markets.

The Global White Sugar Market is Segmented by Source (Cane Sugar and Beet Sugar), by Form (Granulated, Powdered, and Liquid White Sugar), by End-User Industry (Processed Food and Beverage Industry, Industrial Uses (Non-Food Applications), Household/Retail, and Foodservice), and by Geography (North America, South America, Europe, Asia–pacific, and Middle East & Africa). The Market Forecasts are Provided in Terms of Value (USD).

The Chinese sugar market expanded sharply to $10.7B in 2024, rising by 9.9% against the previous year. In general, consumption, however, showed a perceptible curtailment. Over the period under review, the market hit record highs at $15.4B in 2013; however, from 2014 to 2024, consumption remained at a lower figure.

The United States sugar market size reached attained a volume of 11.74 MMT in 2024. The market is projected to grow at a CAGR of 1.20% between 2025 and 2034 to reach nearly 13.23 MMT by 2034.

This steady rise is supported by consistent demand from the food and beverage industry, where sugar remains a key ingredient in confectionery, bakery, dairy, and soft drink products. While health-conscious consumers are increasingly looking for alternatives, traditional sugar continues to play a major role in large-scale food manufacturing. The market is also shaped by evolving trade policies, domestic production capabilities, and import dependencies. As manufacturers explore ways to balance taste, shelf life, and health trends, the sugar industry is adapting through improved refining processes and supply chain efficiencies.

The MERCOSUR sugar market rose slightly to $7.8B in 2024, surging by 2.6% against the previous year. Over the period under review, consumption saw a deep downturn. The level of consumption peaked at $22.3B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

The Brazil Cane Sugar Market Report is Segmented by Form (Crystallized Sugar, Liquid Sugar), Product Category (Raw Sugar, White Refined, VHP Sugar, Organic), Application (Food and Beverage, Pharmaceuticals, Industrial, Biofuel/Ethanol, Other Applications), and Geography (São Paulo, Goiás, Minas Gerais, Paraná, Mato Grosso Do Sul, Other States). The Market Forecasts are Provided in Terms of Value (USD).

This year, world sugar production is expected to rise by 3% to 193M tons. The growth will be encouraged by favorable weather conditions in most of the largest producing countries, as well as the providing exemptions on the neonicotinoid usage against plant diseases and blights in France, Germany and the UK. The drop in sugar production and shipments from Brazil will be offset by large volumes coming from Thailand, which will boost global exports by +2.6% y-o-y. The increased supply in the world market is to keep sugar prices relatively stable over the next two years.

Pure cane sugar business across the world in 2023 was USD 62.2 billion. Pure cane sugar demand was growing at 10.9% per annum in 2024 and worldwide business would be USD 69 billion in 2025. World business from 2025-2035 would grow at a 5.7% CAGR and would be USD 120.1 billion in 2035.

Attribute	Description
Estimated Global Refined Cane Sugar Industry Size (2025E)	USD 69 billion
Projected Global Refined Cane Sugar Industry Value (2035F)	USD 120.1 billion
Value-based CAGR (2025 to 2035)	5.7%

Semi-Annual Market Update

Particular	Value CAGR
H1 (2024 to 2034)	5.4%
H2 (2024 to 2034)	5.5%
H1 (2025 to 2035)	5.6%
H2 (2025 to 2035)	5.7%

Country-Wise Insights

Country	CAGR, 2025 to 2035
USA	4.8%
Germany	5.2%
China	6.5%
Japan	4.9%
India	5.1%

Category-Wise Insights

Segment	Value Share (2025)
Industrial & Food Processing (By Application)	71.5%

Segment	Value Share (2025)
Retail & Specialty Sugar Products (By Application)	28.5%

Sugar Market size was 181.22 million tons in 2024 and is set to hit 239.22 million tons by 2030, growing at 5.71% CAGR, driven by food & beverage demand.

According to Cognitive Market Research, the global Liquid Sugar Market size was USD 81.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 32.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 24.48 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 18.77 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The bakery held the highest Liquid Sugar Market revenue share in 2024.

Market Dynamics of Liquid Sugar Market

Key Drivers for Liquid Sugar Market

Growing Preference for Foods and Drinks to Increase the Demand Globally

The Liquid Sugar Market has experienced growth because of the beverages sector's growing need for liquid sugar. The demand will increase due to the expanding use of liquid sugar by food-processing producers. Liquid sugar is used in food processing for a variety of purposes besides sweetness, including enforceable, expanding, and food preservation. It is anticipated that during this period, sugarcane will continue to be an important supplier of essential components for the manufacturing of liquid sugar. Expanding the usage of sugar beet as an ingredient is mostly due to its high output volume and the notable expansion of the region growing to sugarcane.

Increasing Awareness of Health to Propel Market Growth

The Liquid Sugar Market has witnessed steady growth, driven by increasing consumer attention to health as well as an increasing interest in clean and nutritious foods. The demand for liquid sugar is predicted to grow as a result of governmental measures to support sugar farming, which is the main ingredient that is utilized for the manufacture of liquid sugar. A common addition in the food processing manufacturing business is liquid sugar. The food and beverage sector's need for liquid sugar is expected to be driven by its superior adding and melting qualities. Using liquid sugar will assist the baked goods and confection industries in keeping their products fresher and juicier for long stretch periods.

Restraint Factor for the Liquid Sugar Market

Inadequate Facilities for Healthcare to Limit the Sales

The expansion of the Liquid Sugar Market is largely restricted because liquid sugar is unstable and requires special handling. Its expensive shipping expenses are impeding the expansion of the sugar industry. Organic materials like extracted plants, crucial compounds, and other natural materials are used extensively to manufacture liquid sugar. It is unstable and requires special handling, and it is expensive shipping es. The markets' demand, geopolitical developments, and climatic circumstances, among other things, can all impact these raw materials prices. Raw material price fluctuations pose many difficulties for organizations operating in the industry. Higher production costs may impact manufacturers' profit margins and pricing.

Impact of Covid-19 on the Liquid Sugar Market

The Liquid Sugar Market has witnessed growth due to rising demand for innovative technology. Key drivers include increasing awareness about health. The worldwide epidemic of the COVID-19 pandemic in the liquid sugar industry resulted in transportation issues. Demand for food has increased as a result of the COVID-19 epidemic. Still, manufacturers have been unable to transport their goods to the distribution as a result of an interruption in the logistics process. Furthermore, despite a strong demand for the goods, natural fruit is being wasted as a result of supply chain delays. The pandemic's effects on consumer preferences and activity affected the nutrition and drink industry's downstream chains. The cessation of business operations impac...

The size of the Cane Sugar Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.30% during the forecast period. Recent developments include: November 2022: Under a long-term contract with Brazil's Razen, Shell agreed to purchase 3.25 billion liters (860,000 gallons US) of sugar-cane cellulosic ethanol. Razen intends to construct five plants in Brazil, boosting its total portfolio of cellulosic ethanol facilities to nine, which will manufacture the low-carbon fuel. The bagasse left over after producing sugar and conventional sugarcane ethanol will be used by Raizen to create its cellulosic ethanol., August 2022: Raizen and ASR Group collaborated to provide certified non-GMO cane sugar options in the market. The partnership aims to create a sustainable, fully traceable, and non-GMO-certified supply chain of raw cane sugar. The initiative aims to ensure a reliable supply of non-GMO cane sugar for processors and consumers globally., December 2021: MSM Malaysia Holdings Bhd (MSM Malaysia) and Wilmar Sugar Pte Ltd (Wilmar Sugar) inked a collaboration agreement in December 2021 to build a sustainable sugar supply chain. MSM Malaysia and Wilmar Sugar will embark on joint efforts to assist and support each other to pilot an approach to enable sustainable raw sugar sourcing within both companies' joint supply chains by focusing on traceability reporting of sugar supplies and monitoring sustainability performance based on the NDPE Sugar Policy., November 2021: The Sugar Research Institute of Fiji released a new variety of cane for commercial planting in the 2022 planting season. The variety had a high sugar content leading to better yield, more income for the growers, and increased total sugar production., May 2021: Adani Wilmar, which sells various food items such as sugar under the Fortune brand, introduced its mobile application, Fortune Online, to provide customers with a one-stop shop for all of their kitchen needs.. Key drivers for this market are: Growing Awareness About Insect & Other Alternative Proteins, Increasing Applications Surge Demand for Insect Protein. Potential restraints include: Augmenting Market Penetration of Other Proteins. Notable trends are: Increased Trade of Organic Cane Sugar.

According to Cognitive Market Research, the refined sugar market size is expected to reach USD XX Million by 2024 and is projected to grow to USD XX Million by the end of 2033, expanding at a CAGR of XX% from 2025 to 2033.

Asia-Pacific held largest share of XX% in the year 2024 
Europe held share of XX% in the year 2024 
North America held significant share of XX% in the year 2024 
South America held significant share of XX% in the year 2024
Middle East and Africa held significant share of XX% in the year 2024 

Market Dynamics of Refined Sugar Market

Key Drivers for Refined Sugar Market

Increasing Demand for Processed Food & Beverages to Boost Market Growth

Greater reliance on convenience and ready-to-eat foods, which frequently contain refined sugar as a primary ingredient, is a result of growing urban populations. The popularity of packaged meals and beverages is influenced by time restrictions and households with two incomes. Furthermore, the use of sugar in drinks, sauces, marinades, and desserts has expanded as a result of the global expansion of cafes, restaurants, and fast-food chains. The consumption of processed foods high in sugar is further increased by the growth of food delivery services. Additionally, to draw in customers, food and beverage firms are launching inventive new items, many of which contain refined sugar. Demand for sugar occasionally rises as a result of seasonal and limited-edition items, particularly during holiday seasons.

Increasing Product Portfolio to Drive Market Growth

The increasing product portfolio by the key players is expected to drive the growth of the market during the forecast period. For instance, in August 2023, Better White Clear White Sugar was introduced to the market by Central Sugars Refinery Sdn. Bhd. (CSR), adding a new product to its lineup. This new product further solidifies CSR's standing as Malaysia's sugar expert by enhancing its existing line of premium sugar products. The outcome of lengthy refining procedures, BETTER WHITE is a purer and more aesthetically pleasing sugar. This premium sugar maintains the quality and taste preferences of Malaysians while having an improved appearance. Better White is ideal for any sweet time because of its superior quality and improved appearance. This premium sugar improves the flavor and appearance of any culinary product, whether it's a cup of coffee, a homemade dessert, or a refreshing beverage. In particular, BETTER WHITE will provide whiter, more aesthetically pleasing baking goods that will be more appealing to customers in the bakery sector.

Restraint Factor for the Refined Sugar Market

Growing health concerns and dietary shifts towards healthier alternatives are hampering the growth of the refined sugar market.

Rising health concerns and changing dietary preferences are increasingly hindering the growth of the refined sugar industry. As awareness grows about the negative health impacts of too much refined sugar, such as weight gain, diabetes, heart issues, non-alcoholic fatty liver disease (NAFLD), cognitive decline, and certain cancers, people are actively cutting back on added sugars, especially in drinks and processed foods. This increased health awareness boosts demand for sugar substitutes like artificial sweeteners and natural options like stevia, as well as products with lower or no added sugar. Additionally, consumers prefer natural sugars from fruits and honey over refined sugar. In response, the food and beverage sector is reformulating products to include more low-sugar or sugar-free choices, launching initiatives to reduce sugar, and using alternative sweeteners to meet changing consumer needs. These trends are collectively decelerating the overall growth of the refined sugar market, as health-focused dietary changes continue to influence consumption patterns worldwide. Introduction of the Refined Sugar Market

Refined sugar is produced by extracting and processing natural sugars from foods such as corn, sugar beets, and sugarcane. It is then added to various foods primarily to enhance flavour. This sugar is obtained from natural sources and refined to remove impurities, resulting in mostly sucrose. Typically, refined sugars are incorporated into foods and drinks to improve taste. They are considered empty calories because they lack vitamins, minerals, protein, fat, fibre, or other beneficial nut...

According to Cognitive Market Research, the global Organic Sugar market size is USD 715.9 million in 2024. It will expand at a compound annual growth rate (CAGR) of 11.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 286.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 214.77 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 164.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5 % from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 35.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 14.32 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
The Sugarcane held the highest Organic Sugar market revenue share in 2024.

Market Dynamics of Organic Sugar Market

Key Drivers for Organic Sugar Market

Growing health consciousness to Increase the Demand Globally

As the health focus grows, customers are favoring herbal, minimally processed ingredients, leading to a surge in demand for organic sugar. Despite being calorically equivalent to conventional sugar, organic sugar is perceived as a healthier alternative due to its minimally processed nature. This trend displays a heightened focus on the health risks related to immoderate sugar consumption, prompting individuals to are looking for alternatives without sacrificing sweetness. The desire for organic sugar underscores a shift toward mindful eating conduct and a choice for transparency in meal alternatives. This purchaser conduct indicators a broader motion in the direction of holistic wellbeing and a deeper understanding of the impact of nutritional choices on normal health.

Government support for organic farming to Propel Market Growth

Governments global are championing natural farming thru subsidies and incentives, fostering the enlargement of organic sugar production. These supportive measures not only sell environmentally sustainable practices but also decorate accessibility to Organic Sugar for purchasers. By incentivizing farmers to undertake natural methods, governments stimulate elevated yields and force down production prices, in the long run making Organic Sugar less expensive and widespread. Such governmental aid displays a commitment to fostering agricultural practices that prioritize environmental stewardship and public health. Moreover, it signifies the popularity of the developing consumer demand for organic merchandise and the importance of assisting farmers in transitioning to more sustainable farming techniques. This concerted effort aligns with international tasks aimed toward fostering a greater resilient and sustainable meal gadget.

Restraint Factor for the Organic Sugar Market

Higher price point to Limit the Sales

The higher rate of Organic Sugar, stemming from decreased yields in natural farming, gives an assignment for a few purchasers, in particular those in price-touchy markets. While the blessings of Organic Sugar are identified, the top-class pricing can deter finances-conscious individuals from choosing it over traditional sugar. This price disparity displays the additional expenses worried in natural farming practices, along with certification, exertions-in depth strategies, and smaller yields in step with acre. Despite the better fee point, patron call for Organic Sugar keeps on to upward thrust, pushed by health and environmental worries. To deal with affordability limitations, projects inclusive of authorities subsidies and extended performance in natural farming techniques are important. Efforts to bridge the charge hole could make Organic Sugar extra available and assist the transition to sustainable agricultural practices on a broader scale.

Impact of Covid-19 on the Organic Sugar Market

The organic sugar marketplace faced both demanding situations and opportunities amid the COVID-19 pandemic. Initially, disruptions in supply chains and hard work shortages affected production and distribution, leading...

In 2024, Market Research Intellect valued the Date Sugar Market Report at USD 600 million, with expectations to reach USD 1.2 billion by 2033 at a CAGR of 8.5%.Understand drivers of market demand, strategic innovations, and the role of top competitors.

The size of the Brazil Cane Sugar Market market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.04% during the forecast period. Recent developments include: September 2022: Tereos invested heavily in automation and digitization of operations to handle the different processes, improve agricultural monitoring, reduce costs, and enhance the procurement chain and relationship with suppliers. Major projects are in Brazil, and a key focus is laid on supply chain and procurement., February 2022: Brazil developed the first sugarcane that is CRISPR modified. The two sugarcane types, Flex I and Flex II, offer different levels of cell wall digestibility and sucrose content in plant tissues. They address one of the industry's most pressing problems: improving enzyme accessibility to the sugars locked up in cells, which makes it easier to produce ethanol (first and second generation) and extract other bioproducts., February 2021: Brazil's Raizen, the joint venture between Cosan SA and Royal Dutch Shell Plc, agreed to buy the sugar and ethanol unit controlled by Louis Dreyfus i.e. Biosev SA. The acquisition lays down the strategy to expand ethanol production.. Key drivers for this market are: The Rising Awareness of the Health Benefits Associated with Collagen Consumption, Rising Sport and Fitness Trends Drives the Market Growth. Potential restraints include: Concerns over the Source and Animal Welfare in Collagen Extraction Limit the Market Growth. Notable trends are: Large Production Base in the Country Supporting Demand Growth.

The Mexico sugar market reached approximately 4.57 Million Tons in 2024. The market is projected to grow at a CAGR of 1.00% between 2025 and 2034, reaching a volume of around 5.05 Million Tons by 2034.