U.S.: Sugars Market 2024

Sugars Market Size in the U.S.

In 2023, the U.S. sugars market decreased by X% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, recorded a strong expansion. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Sugars Production in the U.S.

In value terms, sugars production amounted to $X in 2023. Overall, production recorded significant growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Sugars production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

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Sugars Exports

Exports from the U.S.

In 2023, after two years of growth, there was significant decline in overseas shipments of sugars, sugar ethers and salts, when their volume decreased by X% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, sugars exports contracted sharply to $X in 2023. Overall, total exports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then declined dramatically in the following year.

Exports by Country

Mexico (X tons), Canada (X tons) and India (X tons) were the main destinations of sugars exports from the United States, with a combined X% share of total exports. The Netherlands, Japan, South Korea, China, Singapore, Germany, France, the UK, Belgium and Colombia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Singapore (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Germany ($X) and China ($X) constituted the largest markets for sugars exported from the United States worldwide, together accounting for X% of total exports.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sugars export price stood at $X per ton in 2023, almost unchanged from the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sugars export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sugars Imports

Imports into the U.S.

In 2023, after two years of growth, there was significant decline in supplies from abroad of sugars, sugar ethers and salts, when their volume decreased by X% to X tons. In general, imports showed a slight slump. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, sugars imports dropped notably to $X in 2023. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then fell significantly in the following year.

Imports by Country

China (X tons), Germany (X tons) and Canada (X tons) were the main suppliers of sugars imports to the United States, together comprising X% of total imports. The Netherlands, Thailand, Italy, Austria and Denmark lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sugars suppliers to the United States were China ($X), Germany ($X) and Italy ($X), together comprising X% of total imports. Canada, the Netherlands, Denmark, Thailand and Austria lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Austria, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average sugars import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price showed a buoyant increase. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform