LONDON–Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Sugar Market Procurement Research – Market Trends and Spend Analysis Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of sugar and acts as an all-inclusive guide for making smart purchasing decisions.
“The global demand for sugar is driven by the rise in its per capita consumption due to factors such as high spending on junk foods and growth in fast food chains across regions,” says SpendEdge procurement analyst A Kowshik. “To cater to the growing demand the supply market is focusing on improving their yield on raw materials by following necessary agricultural practices,” says SpendEdge procurement analyst A Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Sugar Market:
- The rise in preference and adoption of brown sugar in bakery products.
- Rise in use of intense blended sweeteners.
- Increasing health awareness which has resulted in the shift toward natural sweeteners.
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The rise in preference and adoption of brown sugar in bakery products:
The demand for brown sugar in bakery products and confectionaries has increased tremendously due to the growing demand for bakery products in urban areas. The bakery products segment is likely to remain a significant contributor to the global brown sugar market. This market trend will help the buyers to focus more on the bakery products segment and develop new offerings for the consumers; this will assist them in reaching out to the large customer base thereby increasing revenue.
The rise in the use of intense blended sweeteners:
The suppliers in the global sugar market prefer and focus on providing intense blended sweeteners instead of the regular sweeteners. Intense sweeteners offer the benefits of low cost, longer shelf life, and are highly stable even under the low pH conditions. Also, the essential benefits of using blending sweeteners include enhanced potency, flavor-masking, and sweetener synergy.
Increasing health awareness which has resulted in the shift toward natural sweeteners:
The increase in health problems such as obesity and diabetes along with the sugar taxes imposed by governments have led to a rise in health awareness among the growing population. This has prompted people to use natural sweeteners like stevia, maple syrup, coconut sugar, brown rice syrup, and honey. Moreover, the buyers focus on coming up with new products made of natural sweeteners to attract customers.
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