Albany, NY -- (SBWIRE) -- 02/04/2019 -- Sugar whether produced from sugar beets or sugar cane grown using any method i.e. organic, biotech, or conventional results in the same natural and pure sugar for consumption. Sugar beet is a member of Amaranthaceae family. Sugar beet grows underground and is harvested and processed differently. Sugar beets are eaten raw and even in the cooked form, however, sugar manufacturers are using sugar beet to produce refined sugar, brown sugar and other products such as molasses, pressmud, etc.

Sugar beet is being used both as a source of sugar and the plant residue is also being used as a fuel. The by-products that are obtained from processing the beets into sugar (molasses and pulp) are used on a large scale as fiber-rich supplemental feed for livestock.

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As per TMR, the global sugar beet market will expand at a 6.5% CAGR from 2017 to 2026 and be worth US$50.42.1 mn revenue by 2026. On the basis of geography, the market is anticipated to be led by Europe due to high production of sugar, thanks to the favourable climate for the production of sugar. The U.K., France, Germany, and Poland are at the forefront of the sugar beet market in Europe. North America is also anticipated to witness high growth in the market.

Europe to Lead in Market for Sugar Beet

As per an expert TMR analyst, "in the tropical regions, sugar beet has emerged as a great substitute to sugar cane." Market players are focusing on product innovation, which will also propel the growth of the market. The demand for a variety of sugars is growing on account of the efforts taken by market players in terms of product innovation. Europe has boosted its sugar production capacity by significantly and this is helping countries such as Poland, Germany, Czech Republic, and France to collect huge amount of sugar from sugar beet sources.

Use in Low Fat and Low Calorie Diet Driving Demand

Sugar beet is extremely rich in nutrients and is generally used for producing sugar and this is one of the primary factors feeling the growth of the global sugar beet market. Since sugar beet is low in fat as well as have reduced calories, it is used for reduced fat diet and low calorie diet. The dried beet pulp which is left after sugar has been extracted from sugar beet, is used by companies involved in the production of sugar. This dried beet pulp is used in the form of pellet, molasses, and other forms such as clean or dried. Manufacturers are supplying this by-product of beet sugar to farmers for livestock feed. Molasses are also being supplied to the chemical and pharmaceutical sectors for the production of yeast, chemicals and other drugs.

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Sugar Beet to Now be Considered for Use in Biofuel

With the recent approval of the European Food Safety Authority (EFSA) clearing the path of genetically modified sugar beet to be utilized for food, feed imports, processing, and for food containing ingredients produced from sugar beet, this market has received a significant impetus. While sugar beet is used extensively in the pharmaceutical sector, chemical sector, and food sector, it is now being considered for the production of biofuel as well and this is expected to create several growth opportunities within the market in the next few years.