Vietnam Liquid Sugar Market Report and Forecast 2024-2032

Vietnam Liquid Sugar Market Outlook

The Vietnam liquid sugar market size is assessed to grow at a CAGR of 3.8% between 2024 and 2032. The market is expected to be driven by the growing demand for sugary beverages and the expansion of the foodservice sector in the country.

Key Trends in the Market

Liquid sugar refers to granulated or cane sugar that is dissolved in water. Due to its liquid form, it is more soluble and easier to use than its granular counterparts. Liquid sugar finds usage in diverse applications, ranging from dairy products and beverages to confectioneries and baked goods.

• The rising consumption of sugar due to surging income levels and rapid urbanisation is one of the significant Vietnam liquid sugar market trends. Sugary beverages and soft drinks enjoy substantial popularity in the country, boosting the demand for liquid sugar as it can be instantaneously dissolved as compared to granular sugar.

• With rising health and environmental concerns, there is an increasing preference for high-quality liquid sugar that does not contain preservatives and harmful chemicals. Moreover, the growing demand for clean-labelled food products is anticipated to bolster the Vietnam liquid sugar market growth in the forecast period.

• Quick-service restaurants and fast-food chains like Baskin Robbins, Lotteria, and Jollibee Foods, among others, are increasingly expanding their presence in Vietnam due to its flourishing foodservice sector and healthy economic growth. This is boosting the usage of liquid sugar in different products, ranging from baked goods to pickles.

Market Analysis

Based on source, the Vietnam liquid sugar market segmentation includes sugar cane, beet sugar, and corn sugar, among others. On the basis of application, the market can be divided into household, HoReCa, and industrial. By sales channel, the market is bifurcated into B2B and B2C. The major regional markets for liquid sugar in Vietnam include North, Central, and South.

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 Vietnam liquid sugar 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

• FGV Holdings Berhad

• Others

Market Share by Source

As per the Vietnam liquid sugar market analysis, sugar cane represents a major market share. The surging health consciousness is fuelling the use of sugar cane in liquid sugar production as it contains antioxidants and is an excellent source of minerals and vitamins. With the surging demand for natural and organic liquid sugar, the use of organically produced and sourced sugar cane is likely to rise in the coming years.

Market Share by Application

The industrial segment accounts for a significant portion of the Vietnam liquid sugar market share. The product finds wide usage in the food and beverage sector as it offers enhanced convenience and ease of usage.

The demand for sugary beverages such as ready-to-drink coffee, soft drinks, and energy drinks, among others, is significantly increasing. This is prompting manufacturers to use liquid sugar to eliminate the high costs associated with crystalline sugar’s processing steps such as dissolution to optimal concentration and filtration with activated carbon. Moreover, the growing focus by beverage manufacturers to enhance their production efficiency is boosting the overall Vietnam liquid sugar market growth.

Competitive Landscape

FGV Holdings Berhad is an agribusiness company that was incorporated in 2007 as a commercial brand of Federal Land Development Authority (FELDA). It operates in different sectors such as logistics, plantation, integrated farming, and sugar, among others. The company is based in Malaysia and aims to drive sustainability in the agricultural sector.

Roquette Frères is a company that operates in the fields of food and nutrition, biopharma, animal nutrition, cosmetics, and pharmaceuticals, among others. It was founded in 1933 and has a wide presence in over 100 countries across the globe. Headquartered in Lestrem, France, the company uses raw materials of natural origin to drive innovations in the food, health, and nutrition sectors.

Tate & Lyle Plc is a leading provider of ingredients for the food and beverage sector. The company is headquartered in London, the United Kingdom, and was founded in 1859. With its expertise in fibre enrichment, texture, stabilisation, and sweetness, the company aims to drive the development of healthy food and beverages.

Other Vietnam liquid sugar market players include Archer Daniels Midland Company, Cargill, Incorporated, and TTC Sugar, among others.

Key Highlights of the Report