Thailand Liquid Sugar Market Report and Forecast 2024-2032

Thailand Liquid Sugar Market Outlook

The Thailand liquid sugar market size is projected to grow at a CAGR of 3.5% between 2024 and 2032.The major drivers of the market include expansion of the foodservice sector in the country and rising awareness about the various health benefits associated with the utilisation of liquid sugar.

Key Trends in the Market

Liquid sugar refers to water-based sucrose solution derived from natural raw cane sugar or refined sugar that is used in preparation of various products due to its highly adaptable nature. This sugar type also aids in initial fermentation processes in cider and beer and is also used for coating cereal bars.

• The expansion of the foodservice sector in the country has increased the Thailand liquid sugar market demand. Due to the ability of liquid sugar to dissolve instantly in hot and cold beverages while offering the same sweetness as granulated sugar its utilisation in hotels, restaurants, and cafeterias is rising.

• The growing popularity of frozen desserts and ice cream is aiding the market expansion in Thailand as usage of liquid sugar in ice creams inhibits sugar recrystallisation, allowing the production of smooth textured ice cream. Liquid sugar also provides stability and creaminess to the ice cream.

• The increased availability of liquid sugar across various sales channels in Thailand including business-to-business and business-to-customer channels is offering lucrative growth opportunities to the market. Additionally, rising investments in modern agriculture and sugar processing are aiding in enhancement of liquid sugar manufacturing processes.

Thailand Liquid Sugar Market Analysis

On the basis of source, the market is divided into sugar cane, beet sugar, and corn sugar, among others. Based on end use, the market is classified into household, HoReCa, and industrial. On the basis of sales channel, the Thailand liquid sugar market segmentation includes B2B and B2C, with B2C subdivided by type into general trade (GT), modern trade (MT), and e-commerce.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Roquette Frères 

• Archer Daniels Midland Company 

• Tate & Lyle Plc 

• Cargill, Incorporated 

• TTC Sugar 

• Mitr Phol Sugar Company Limited 

• Thai Roong Ruang Sugar Group 

• Thai Sugar Group Co.,Ltd. 

• Thai Wah Public Company Limited 

• Others

Market Share by Source

Sugar cane is anticipated to account for a significant Thailand liquid sugar market share. The sugar derived from sugar cane helps in boosting the energy as the it is broken into two simpler sugars namely, glucose and fructose. The cells then carry glucose molecules and convert them into energy. It also elevates the mood by releasing serotonin, which also helps in regulation of digestive functions including appetite and bowel movements. Liquid sugar obtained from sugar cane is also preferred by mixologists as it easily dissolves in both cold and hot drinks as well as non-alcoholic and alcoholic beverages alike.

Market Share by Sales Channel

The B2B segment comprising of general trade, modern trade, and e-commerce is anticipated to witness significant growth over the forecast period. E-commerce platforms for a wide range of products and brands to their customers as well as have easy turn, refund, and exchange policies in place. Whereas general and modern trade stores offer the balance between price and quality, supporting the Thailand liquid sugar market growth.

Competitive Landscape

Roquette Frères is a leading manufacturer of agricultural products and processes vegetables including wheat, corn, peas, and potato into cereal sugars, starch, polyols, fibres, and proteins, among others. The company was founded in 1933 and is headquartered in Lestrem, France.

Archer Daniels Midland Company is a commodity trading and food processing company that was founded in 1902. Their cutting-edge innovations are leading the way for plant-based industrial and consumer solutions for replacing petroleum-based products.

Tate & Lyle Plc is known for providing food and beverage solutions to their customers around the globe. The company was founded in 1859 and produces speciality fibres and sweeteners wo help reduce the intake of calories and sugar.

Other Thailand liquid sugar market key players include Cargill, Incorporated, TTC Sugar, Mitr Phol Sugar Company Limited, Thai Roong Ruang Sugar Group, Thai Sugar Group Co.,Ltd., and Thai Wah Public Company Limited, among others.

Key Highlights of the Report