The Morocco sugar market was valued at US$347.680 million in 2020 and is expected to grow at a CAGR of 4.24% over the forecast period to reach a total market size of US$464.846 million in 2027.
Due to people consuming more food and beverages with added sugar these days the usage and demand for sugar have increased which is will play a role in the growth of the market. Also, these days people are preferring brown sugar over white sugar, which will bolster the demand for brown sugar and fuel the market growth further. Although some people are shifting to artificial sweeteners or low-calorie sugar which can restrain the market, Additionally, increasing investment and product innovation by major players coupled with new product launches may further bolster the growth of the market.
Trade in the Market
According to data by OEC, in 2020, Morocco exported a value worth USD 295 million in raw sugar, making it the 15th largest exporter of raw sugar globally. In the same year, raw sugar was the 19th most exported product in the country. The primary countries that received the exports of raw sugar from Morocco in 2020 were the US, Turkey, and Lebanon.
Further, according to OEC, in 2020, the country imported a value worth USD 405 million in raw sugar, making it the 6th largest importer of global importer of raw sugar. In the same year, raw sugar was the 5th most imported product in the country. The major countries from where Morocco imports its raw sugar included Brazil, Australia, and Algeria.
Online channels to grow substantially
E-commerce has been a booming industry in Morocco. According to e-commerceDB, with an increase of 21%, the Moroccan eCommerce market contributed to a worldwide growth rate of 15% in 2021. Further, estimated to witness a yearly growth rate of 8% between 2021 and 2025, Morocco is expected to outperform the global average of 6%, as estimated by ecommerceDB. according to a report by Quartz Africa, as people were forced to stay at home, online ordering of food, clothing, and electronics flourished, which resulted in the creation of 300 new e-commerce businesses at the height of the COVID-induced economic crisis. This trend brought the number of e-commerce businesses operating in 2020 to over 1,000 websites. Thus, this growing flourishment of e-commerce in the country is expected to boost the online channels of the distribution segment of the market.
Further, according to DataReportal, there were about 31.59 million internet users in Morocco in January 2022, showing an increase of 1.2% between 2021 and 2022. Further, according to the data, internet penetration in the country stood at 84.1% in January 2022, with the number of mobile connections at a staggering 129.3% of the total population. Thus, this growing internet population in the country is further projected to drive the online channel of distribution of the market in the projection period.
Restraints
People in the country have been experiencing a shift in their eating habits and growing diet consciousness, thus decreasing their sugar intake. This factor is expected to constrain the growth of the market.
COVID-19 Insights
The outbreak of the COVID-19 pandemic affected the market negatively. The pandemic resulted in the implementation of nationwide lockdowns and social distancing measures in the country, which affected the production, as well as the distribution of the crops to obtain sugar. Further, the lockdowns also mandated the shutdown of offline retail stores in the country, which are still a major source of distribution, thus making the market dip even further.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2020 | US$347.680 million |
| Market Size Value in 2027 | US$464.846 million |
| Growth Rate | CAGR of 4.24% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Form, Source, Use, And Distribution Channel |
| Companies Covered | Cosumar Group, Wilmar International Ltd, Südzucker Group |
| Customization Scope | Free report customization with purchase |
Segmentation: