Africa and Middle East Sugarcane Syrup Market by Territory (Malawi, Southern African Development Community (SADC) and Common Market for Eastern and Southern Africa (COMESA), West Africa, and Middle East) - Opportunity Analysis and Industry Forecast, 2017-2023
The Africa and Middle East sugarcane syrup market size is expected to be reach $2,074 million by 2023. Sugarcane syrup is a thick concentrated syrup formed as an intermediate product of the sugar-making process and used as a natural sweetener. Sugarcane syrup is dark golden brown in color, with a slight molasses flavor. It is made by evaporating sugar cane juice for several hours, which converts sucrose contained in sugarcane to an equimolar mixture of glucose, sucrose, and fructose by the process of hydrolysis. As a result a thick concentrated syrup, which is sweeter than sugar is formed. This process is repeated several times, and each time a different type of sugarcane syrup such as liquid sucrose, invert sugar to refiners syrups, are produced depending upon the specific functional requirements of the final products. The syrup is majorly used as a natural sweetener by bakery, dairy, beverages, confectionaries, processed foods, and other industries. It is used to prepare variety of bakery and beverage products such as donuts, biscuits, chocolate, pancakes, cookies, and health drinks & sweetened beverages. They are used as natural preservatives to reduce water activity and also employed in medicines for improving their taste.
Sugarcane syrup contains higher amount of sucrose, which makes it sweeter than sugar. It has been widely and extensively utilized by the food industry owing to its inherent advantages over sugar. It is widely used in the preparation of various bakery products such as waffles, cakes, pancakes, bread rolls, and French toast. It is also used for flavoring a wide range of food products such as hot cereal, ice cream, sausages, fruit juices, corn fritters, baked beans, fresh donuts, and baked apples. Sugarcane syrup is also used as a basic sweetener in the production of sweetened beverages such as cocktails, mixed drinks, and beers. It is also used as an alternative to honey. Thus, increase in number of food & beverages industry along with rise in use of sugarcane syrup in bakery and confectionery products drive the Africa and Middle East sugarcane syrup market.
Furthermore, the health benefits associated with cane syrup also increase its demand among households, thus boosting the market growth. In addition, growth of the agricultural industry, results in the high production of cane sugar is expected to have a positive impact on the industry. However, changes in consumer dietary habits, along with rise in awareness regarding the health hazards associated with high sugar consumption is expected to impact the demand for sugarcane syrup during the forecast period. Other factors, such as the high transportation and distribution cost of sugarcane syrup and increase in demand for alternate sweeteners also restrict the growth of the market. In addition, rise in concerns over the economic and ecological impact of huge scale sugar crop farming is projected to hinder the growth of the sugarcane syrup market. The sugarcane syrup production is an economical process that consumes less energy, water, and other resources as compared to sugar, hence reducing overall cost of operation and offering several benefits to manufacturers. Further, ease of processing, convenience in use, and batch-wise consistency that improves the production process, increases its demand among food processors. These factors fuel the growth of the sugarcane syrup in the upcoming years. In addition, changes in taste preferences, increase in health consciousness, and desire to live healthy life surge the demand for organic sugarcane syrup among consumers. These factors are anticipated to provide lucrative opportunities for market growth.
The report segments the sugarcane syrup market based on territory. The report analyzes the production and consumption of sugarcane syrup in all the states of Southern Africa Development Community (SADC), Common Market for Eastern and Southern Africa (COMESA), Middle East, West Africa, and Malawi. In addition, the report briefs about market size, key market trends, growth factors, and opportunities for sugarcane syrup in these territories.
Key players profiled in the report include ILLOVO SUGAR (PTY) LTD, Super Syrups, Tongaat Hulett, Atlanta Sugar SA (Pty) Ltd, Sunshine Sugar, FROZY EGYPT, Kenana Sugar Company, White Nile Sugar Company (WNSC) Co. Ltd, GM Sugar Uganda Limited, and Kinyara Sugar Works Ltd.
The report provides an extensive analysis of the current & emerging market trends and opportunities in the Africa and Middle East sugarcane syrup industry.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists to evaluate the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
Southern African Development Community (SADC)
Common Market for Eastern and Southern Africa (COMESA)
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