WASHINGTON, March 23, 2023 (GLOBE NEWSWIRE) -- Global Beet Sugar Market is valued at USD 4.1 Billion in 2022 and is projected to reach USD 5.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.3% over the forecast period 2023-2030.
Market Overview
The global demand for sugar beet pulp is anticipated to grow as health and fitness awareness rises during the forecast period. In addition, rising sugar beet production and its use in ethanol production are anticipated to fuel market expansion. Consumer health and health awareness are significant market drivers for beet pulp.
We forecast that the beverage category in Beet Sugar Market sales will account for more by 2030. Betaine, a naturally occurring and prospective source of nutrients utilized in energy drinks for athletes and fitness enthusiasts, is present in beetroot juice.
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Market Dynamics
Demand for Natural Sweeteners in Health and Fitness will Support Market Expansion
Demand for natural sweeteners is expected to rise as consumer awareness of maintaining a healthy lifestyle and eating habits rises. In place of unhealthy artificial sweeteners, use beetroot molasses. Betaine, a natural and viable source of nutrients in energy beverages for athletes and fitness enthusiasts, is present in beetroot juice extract.
Increased Demand for Sugar Substitutes in Beet Sugar Market Industry to Drive Market Growth
Growth is anticipated to be driven by rising demand for sugar alternatives due to weather variations that impact sugar output. The growth of artisan beets using a minimal amount of pesticides and fertilizers was made possible by the advancement of technology. This beet's sugar acts as a superior substitute for extract sweeteners. The rising popularity of prepared foods drives the demand for sugar beet juice extract. The extract is a natural sweetener, colorant, and flavor in many convenience foods.
Top Players in the Global Beet Sugar Market
- Renuka Beet Sugar (India)
- Michugan Sugar Company (U.S.)
- Syngenta, Spreckals Sugar Company (Switzerland)
- Sidney Sugars Incorporated (U.S.)
- Amalgamated Sugar Company (U.S.)
- American Crystal Sugar (U.S.)
- The Western Sugar Cooperative (U.S.)
- Southern Minnesota Beet Sugar Cooperative. (U.S.)
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Top Report Findings
- The Beverage category controls most of the Beet Sugar market's revenue based on the Applications. Due to its low cost, high sweetness level, and simple solubility, Beet Sugar is a common sweetener in the beverage business. Beet Sugar use in the beverage sector has increased due to rising customer demand for natural sweeteners and growing health awareness among consumers. Beverages, including soft drinks, energy drinks, and sports drinks, all employ Beet Sugar as a sweetener. The demand for Beet Sugar in the beverage industry is also anticipated to rise as consumers desire more functional drinks like energy and sports drinks that are enhanced with extra nutrients, vitamins, and minerals.
- Based on the Functions, most of the Beet Sugar market's revenue is controlled by Medical Conditions. The increasing use of Beet Sugar for health advantages such as reducing inflammation, raising athletic performance, and lowering blood pressure.
- Based on the Organizational Structure, most of the Beet Sugar market's revenue is controlled by Organized Market categories. In the Beet Sugar sector, the organized market segment is expected to dominate the market. These markets can better manage the quality and price of their products because they own their sugar beet farms and manufacturing facilities. These markets can also benefit from economies of scale, lowering the cost of producing Beet Sugar. These businesses also have a significant market presence and a diversified product line, which enables them to serve a broad spectrum of clients.
Top Trends in Global Beet Sugar Market
- One trend that Vantage Market Research (VMR) expects to see in the Beet Sugar industry is the advancement of technology. New advancements, such as the yield and quality of Beet Sugar, are anticipated to increase with new seed varieties with high sucrose content and enhanced disease resistance. New seed types are being created using biotechnology methods like genetic engineering and gene editing to increase features like disease resistance and higher sucrose content. The productivity and quality of Beet Sugar are anticipated to improve with the growing adoption of precision farming practices, including precision irrigation and planting. New seed types are being created using biotechnology methods like genetic engineering and gene editing to increase features like disease resistance and higher sucrose content.
- Another trend that VMR predicts will continue in the Beet Sugar industry is its growing adoption of precision farming techniques. Precision irrigation delivers the precise amount of water needed for the crop using sensors and technology to track soil moisture levels. This increases the output while also reducing water waste and conserving water. Planting the Beet Sugar crop with precision farming equipment achieves the best depth, spacing, and seed rate. This aids in enhancing crop stand and boosting output. The market growth in the Beet Sugar industry is anticipated to be fueled by the increasing adoption of precision farming practices like precision irrigation and planting. These practices are likely to increase the output and quality of Beet Sugar.
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Recent Developments in the Global Beet Sugar Market
- 2018: Salzgitter Maschinenbau AG and BMA Braunschweigische Maaschinenbauanstalt AG amalgamated into a single company. This merger aims to establish a new company with a more stable and varied product offering portfolio.
Beverage Category in Beet Sugar Market to Generate Significant Revenue Share in Forecast Period
For better understanding, based on the Applications, the Beet Sugar Market is divided into the Beverage, Dairy Industry, Bakery, and Confectionery.
The Food and Beverages segment is expected to be the fastest-growing market for Beet Sugar. This is due to the increasing demand for processed and packaged foods and the growing use of Beet Sugar as a sweetener in various food and beverage products. These factors are expected to drive the growth of the Beet Sugar market in the food and beverages segment.
On the other hand, the dairy industry is anticipated to be the largest growing category in the Beet Sugar market. This is due to the increasing demand for dairy products such as milk, yogurt, and cheese and the growing use of Beet Sugar as a sweetener in dairy-based products. Beet Sugar is commonly used to produce flavored dairy products due to its high sweetness and ability to enhance the taste of dairy products. These factors are expected to drive the growth of the Beet Sugar market in the dairy industry.
Asia Pacific Region in Beet Sugar Market to Generate Maximum Revenue
Asia Pacific dominates the market throughout the projection period. In India, China, and other developing nations, the Asia Pacific Beet Sugar industry is anticipated to offer sizable growth potential for new industries, including food and spirits. Bangladesh has embraced western lifestyles and culture. It is assumed that the rising demand for packaged, ready-to-eat food and convenient cooking coincides with the expansion of neighborhood markets.
Due to several factors, Asia Pacific is expected to be the fastest-growing region in the Beet Sugar market. Some of the key drivers of growth in the region include a rapidly growing population, a growing economy, increasing demand for processed food, and government initiatives.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Beet Sugar Market Forecast Report (2023-2030).
Global Beet Sugar Market segmentation
By Applications
- Bakery
- Confectionery
- Diary Industry
- Beverage
- Other Applications
By Functions
- Regular Conditions
- Medical Conditions
By Organizational Structure
- Organized market
- Unorganized market
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 4.1 Billion |
| Revenue Forecast by 2030 | USD 5.8 Billion |
| CAGR | 5.3% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Renuka Beet Sugar, Michugan Sugar Company, Syngenta, Spreckals Sugar Company, Sidney Sugars Incorporated, Amalgamated Sugar Company, American Crystal Sugar, The Western Sugar Cooperative, Southern Minnesota Beet Sugar Cooperative |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Key Questions Answered in the Beet Sugar Market Report are:
- What is the current state of the beet sugar market, and what factors are driving its growth or decline?
- What are the key trends and opportunities in the beet sugar market, and how are they likely to evolve in the future?
- Who are the major players in the beet sugar industry, and what are their market shares and strategies?
- What are the various product segments and their respective market sizes in the beet sugar market?
- What are the major geographic regions for the beet sugar market, and what are the market sizes and growth rates for each region?
- What are the key challenges and obstacles facing the beet sugar industry, and how are they being addressed by the players in the market?
- What are the regulatory and environmental factors affecting the beet sugar industry, and how are they likely to impact the market in the future?
- What are the major technological developments and innovations in the beet sugar industry, and how are they impacting the market dynamics?
- What are the major opportunities and threats in the beet sugar market, and how can players in the market leverage or mitigate them?
- What are the growth prospects and projections for the beet sugar industry, and what are the key factors driving these projections?
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