The sugar and sweeteners markets demonstrated significant downward price trends in 2024, marking a stark contrast to the record highs of 2023. Both natural and artificial sweetener categories saw notable declines, though with varying dynamics across product segments.

White sugar prices dropped significantly, declining 17% globally and 34% across Europe, driven by improved production fundamentals. European sugar production increased to 16.9 MMT in 2024/25, supported by a 7% increase in beet planting. Record export volumes – the highest in five years – helped alleviate regional oversupply, though late-year crop diseases affecting sucrose content provided some price support.

Raw sugar markets followed a similar trajectory but showed greater volatility, with prices declining 10% year-over-year. Early concerns over reduced production in Center-South Brazil eased as the season progressed, though Indian export restrictions and Thai production challenges created periodic market tension.

The alternative sweeteners segment saw broad-based declines, with natural sweeteners dropping 4% on average and artificial sweeteners falling 7%. Notably, aspartame prices decreased 15% amid shifting consumer preferences and increased competition from natural alternatives. High fructose corn syrup and other glucose products benefited from production expansion in China and India, creating favorable conditions for industrial users.

in 2025 The industry faces changing dynamics as current low sugar prices may influence European farmers’ planting decisions, potentially leading to reduced beet area in favor of more profitable crops. Brazil’s sugar output is expected to remain strong, while Thai production is forecast to rise 18%. However, manufacturer demand patterns may shift as consumer preferences continue to evolve, particularly in developed markets where health consciousness is driving interest in alternative sweetening solutions.

What’s inside this report

For a deeper dive into the trends that defined 2024 and the forces shaping 2025, our full report provides detailed insights into:

  • White Sugar
  • Raw Sugar
  • Glucose & Syrup
  • Alternative Sweeteners
  • Energy Markets

Each section offers comprehensive data and analysis, helping you navigate the complexities of the dairy market and make informed decisions for the year ahead.

Download the full report now to stay ahead of the curve and uncover actionable insights for 2025: https://vespertool.com/downloads/downloads-eoy-report-sugar-2024/