Sugar Beet Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026
Albany, NY -- (SBWIRE) -- 12/14/2017 -- Sugar beet is primarily used for the production of sucrose, which is considered as a high energy food. Manufacturers are using sugar beet for the production of raw sugar, brown sugar, refined sugar, etc. Moreover, in order to improve sugar beet processing, manufacturers are coming up with new technologies to make the process efficient and cost-effective. Other than in the production of sugar, manufacturers are using sugar beet to produce different products. For instance, unrefined syrup made using sugar beet is used as a sandwich spread and as a sweetener for other food. The by-product of sugar beet is used as a food for livestock. Sugar beets are also being used to produce biobutanol.
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However, there is a direct competition between sugar beet and sugar cane. As the sugar beet producing countries are recovering their losses on the export of sugar from large domestic markets. Moreover, with increasing number of countries entering in the sugar beet production, innovative technologies are being developed for harvesting sugar beet.
Leading market players in the global sugar beet market are American Crystal Sugar Company, Nippon Beet Sugar Manufacturing Co. Ltd., British Sugar Plc., Nordic Sugar A/S, Rana Sugar Ltd, Tereos, Southern Minnesota Beet Sugar Cooperative, Michigan Sugar Company, Agrana Zucker Gmbh, and Amalgamated Sugar Company, LLC.
Global Sugar Beet Market is to Witness Robust Growth Rate during the Forecast Period 2017-2026
The research report by Transparency Market Research (TMR) expects the global sugar beet market to experience significant growth during the forecast period. The market is also estimated to increase to 6.5% CAGR from 2017 to 2026. By the end of 2026, the global sugar beet market is estimated to bring in US$ 50,420.1 million revenue.
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The global sugar beet market is segmented on the basis of end use industry and end products. Based on end products, the segment consists of raw sugar, direct use, brown sugar, refined sugar, and others (molasses, bagasse, beet pulp, pressmud). Other end products consisting of molasses, bagasse, beet pulp, and pressmud are expected to witness healthy growth. By the end of 2026, other end products consisting of molasses, bagasse, beet pulp, and pressmud are estimated to reach nearly US$ 31,500 million revenue.
Based on the end use industry, the segments include transportation fuel, beet processing, and other end-use industries. Beet processing industry is expected to account for maximum revenue share. By the end of 2026, beet processing industry is estimated to reach close to 21,600 million revenue.
Europe to Dominate the Global Sugar Beet Market
Geographically, the market is segmented into Europe, Asia Pacific Excluding Japan (APEJ), Japan, North America, Latin America, and the Middle East and Africa. Among these, Europe is expected to dominate the global sugar beet market throughout the forecast period 2017-2026.
Production of the sugar beet is highest in Germany, France, Poland, Czech Republic, and U.K. As per the European Commission, Europe is the leading producer of sugar beet, accounting for around 50%. Also, as per the EU (European Union) sugar policy, EU countries can grant a support to the sectors facing difficulty. Hence, eleven countries in Europe have decided to grant a support to the sugar beet producers. Moreover, Germany is set to increase its sugar production as farmers have increased sugar beet sowings. The sugar beet industry in the U.K. is subsidized, providing stability to the domestic industry.