The consumption of sugar products in the world is growing, what is it now, and after 4 years?

Published 2024년 4월 15일

Tridge summary

Global sugar product consumption is anticipated to rise by 10.6% to 69.7 million tons by 2028, with its value expected to reach $657.2 billion, marking an average annual financial growth rate of 4.4%. As of 2023, consumption was at 63 million tons valued at $509.2 billion, with projections for 2024 indicating a 2.1% increase in volume to 64.3 million tons and a 5.4% increase in value to $536.4 billion. Mondelez International, a key player in the sugar product industry, reported a 60% net profit increase in 2023, totaling $950 million for the last quarter, and a 12% sales increase in Europe. The company, which owns popular brands like Oreo and Cadbury, operates in over 160 countries. Additionally, the waffle manufacturer 'Heli' is investing in an 18 million BGN plant in Vratsa, expected to be operational within 12 months, further indicating the industry's growth trajectory.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The volume of global consumption of sugar products in physical terms by 2028, i.e. for the next 4 years, it may grow by 10.6% compared to 2023 and reach 69.7 million tons. This was stated in the presentation of the deputy director of the Russian federal center "Agroexport" Yevgeny Zaitsev, during an international conference. According to research and analysis, the volume of consumption in the world as a whole of confectionery is growing at an average of 4.4% per year in financial terms. By 2028, it is projected to reach $657.2 billion in value terms, with physical consumption of 69.7 million tons. As for the past year 2023, the world consumption of sugar products stands at $509.2 billion in value terms. And in physical terms, confectionery consumption reaches 63 million tons worldwide. For the current year 2024, forecasts indicate an increase in the consumption of confectionery products compared to last year, both in physical terms and in financial terms, but to a different ...

Source: Money