Icing Sugar Market Outlook
Icing sugar, also known as powdered sugar is mainly used in the baking and confectionery applications. The composition of the icing sugar is powdered sugar, starch, and anti-caking agent. The anti-caking agent in the icing sugar is important especially for the intricate designs made by the foodservice providers. The icing sugar is used to provide texture to a variety of bakery items and confectioneries and thus they are available in various types depending on the application of the icing sugar. The icing sugar has to be used within a short period of time as the risk of the icing sugar getting caked persists even if there is a presence of anti-caking agents. Also, the source of starch varies in the type of icing sugar manufactured. But, the main sugar source in all the icing sugar is cane sugar.
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Growth in the Bakery Market in the Developing Regions to Bolster the Growth for the Icing Sugar Market
The changing lifestyles of people have changed the food habits in the developing regions such as in APAC and MEA. This has resulted in the bakery industry to grow in these regions. The bakery industry is well developed and advanced in the European countries. But the consumer-shift in the APAC and MEA regions has led to the presence of the foodservice increasing. This has propelled the demand for icing sugar that has good quality in the bakery industry to cater to the demands of the consumers. But there is less number of icing sugar manufacturers in these regions. Thus, it provides a white space for all the manufacturers in these regions. Also, the seasonal demand affects the sales of the icing sugar globally.
Icing Sugar Market Segmentation
The global icing sugar market can be segmented on the basis of type, nature, starch source, end use, packaging and distribution channel.
On the basis of type, the global icing sugar market can be segmented as –
- Coarse grained
- Finely Ground
- Ultra Refined
On the basis of nature, the global icing sugar market can be segmented as –
On the basis of starch source, the global icing sugar market can be segmented as –
On the basis of end use, the global icing sugar market can be segmented as –
- Food Processing Industry Bakery Products Confectionery Desserts
On the basis of packaging, the global icing sugar market can be segmented as –
- Retail Canisters Packets Boxes
On the basis of distribution channel, the global icing sugar market can be segmented as –
- Indirect/B2C Hypermarkets/Supermarkets Modern Grocery Stores Specialty Stores Online Retail
Icing Sugar Market: Regional Analysis
The requirement for the icing sugar is mainly dominated by their requirement in the foodservice industry. Out of the total icing sugar being used, around 12% is used in the retail sector and the remaining in the foodservice and the food processing industry. The demand for the icing sugar is high in the European countries due to a large number of cafes, restaurants, and hotels in this region. The rise of the bakery market in the regions of APAC and MEA will likely increase the demand of the icing sugar. Mitr Phol Group, along with KCG Corporation, in 2018, launched an international standard icing sugar called the ‘Imperial Mitra Phol’ for use in the foodservice or the food processing industry.
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Icing Sugar Market: Key Participants
Some of the market participants in the global icing sugar market are:
- Tate & Lyle PLC
- AB Sugar Company
- Couplet Sugars
- Simbhaoli Sugars Ltd.
- Crusty International
- Dhampure Speciality Sugar Ltd.
- MSM Prai Berhad
- Blue Bird Foods India Pvt.
- SBEC Sugar Ltd.
- Patco Industries Limited
- Thai Flour Co. Ltd.
- American Crystal Sugar Company
- United Sugar Company
- NZ Sugar Company Ltd.