I suppose the corn lobby (producing high fructose corn sugar) would love to see the sugar industry collapse.
The corn lobby has personal interest in seeing the small US cane producers and crappy beet producers succeed. It gives them cover. HFCS is inferior in every way to cane sugar in processing. Invert corn sugars have some uses, but as a sweetener and in processing corn syrup sucks compared to either and for many uses the beet sugar is vastly inferior too.
With more than 50 million MT of production of cane sugar, Brazil leads global production. They have the climate for it. We don’t. Beets are inefficient and yield an inferior end product. HFCS is expensive to produce. Sucks in industrial food processing. Fructose has major blood sugar impacts beyond that of sucrose.
The sugar industry will not collapse. It should not be an industry in the US is all. Comparative advantage. Basic economics. If the US sugar industry collapsed, it would not have national security implications. Same for the massive HFCS plants. Same for ethanol production. All are inefficient resource allocation.