The Jordan sugar market was valued at US$249.550 million in 2020 and is expected to grow at a CAGR of 5.28% over the forecast period to reach a total market size of US$357.792 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, Jordan exported a value worth USD 124,000 in raw sugar, making it the 128th largest exporter of raw sugar globally. In the same year, raw sugar was the 578th most exported product in the country. The primary countries that received the exports of raw sugar from Jordan in 2020 were UAE, Palestine and Saudi Arabia.
Further, according to OEC, in 2020, the country imported a value worth USD 177 million in raw sugar, making it the 37th largest importer of global importer of raw sugar. In the same year, raw sugar was the 12th most imported product in the country. The major countries from where Uruguay imports its raw sugar included Algeria, India, and UAE.
Online retail to grow substantially
When it comes to e-commerce, Jordan is considered one of the more advanced countries in the region in this field. According to the ITA, E-commerce facilities have been developed by various service providers like Amazon. Jordan also started to introduce electronic commerce legislation back in 2016, though there has yet to emerge a clear set of regulations covering e-commerce transactions. Legislation that allows for and regulates electronic signatures is still necessary. In 2021, the Jordanian Customs Department issued a new amendment to the law regarding the clearance of online orders for personal use introducing new tariffs; shipments under 200 Jordanian Dinars would be subject to customs fees with an amount of 10% of the shipment value with a minimum of 5 Jordanian Dinars. Further, anyone buying from an online store should have their national number for Jordanians and residency number for non-Jordanians on their shipment to be processed by the Jordanian Customs Department. All these regulations by the government are thus expected to facilitate the ease of e-commerce transactions, thus aiding the online channels of distribution.
Additionally, according to DataReportal, there were 6.87 million internet users in Jordan in January 2022, making the internet penetration in the country stand at 66.8% of the total population. This was a 0.5% growth from the proportion of Internet users in 2021. Thus, this growing internet population in the country is further expected to boost the market segment in the Jordan sugar market.
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. Adding to that, the country is also scarce in water resources, which poses a problem in agriculture and the production of sugar, thus acting as a restraint towards market growth.
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$249.550 million |
| Market Size Value in 2027 | US$357.792 million |
| Growth Rate | CAGR of 5.28% 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 | Halawani Industrial Company, Murad Group, Abu Odeh Bros Co. Ltd. |
| Customization Scope | Free report customization with purchase |
Segmentation