Sugar Beet Juice Extract Global Market Report 2022

Sugar Beet Juice Extract Global Market Report 2022

  • May 2022 •
  • 175 pages •
  • Report ID: 6282398 •
  • Format: PDF
Major players in the sugar beet juice extract market are BMA AG, Agrana Zucker GmbH, Nippon Beet Sugar Manufacturing Co. Ltd., NutriScience Innovations LLC, Amalgamated Sugar Company, Nordzucker AG, CropEnergies AG, The Southern Minnesota Beet Sugar Cooperative, Südzucker AG, and British Sugar Plc.

The global sugar beet juice extract market is expected to grow from $4.44 billion in 2021 to $4.69 billion in 2022 at a compound annual growth rate (CAGR) of 5.74%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.02 billion in 2026 at a CAGR of 6.45%.

The sugar beet juice extract market consists of sales of sugar beet juice extract by entities (organizations, sole traders, and partnerships) which is extracted from the root of sugar beet. Sugar beet is a plant whose roots contain high concentration of sucrose.

The main types of sugar beet juice extract are Organic and Conventional.Organic methods involve limited or no use of chemical fertilizers.

Conventional methods involve use of chemical fertilizers for cultivation and extraction of sugar beet juice extract.Major applications of sugar beet juice extracts are Food and beverages, Animal Feed, Biofuels, Cosmetic and personal care, and Others.

By distribution channel, the market is segmented into Supermarkets/hypermarkets, Convenience stores, and Online.

North America was the largest region in the sugar beet juice extract market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing demand for sugarcane substitutes is expected to proper the growth of sugar beet juice extract market.Since cultivation of sugarcane requires heavy water irrigation, alternatives such as sugar beet are being focused on that do not require as much water for cultivation.

According to the United States Department of Agriculture, since the mid-2000s, sugar beets accounted for 55 to 60% of sugar production in the USA, while sugarcane accounted for 40 to 45%. So, the growing demand for sugarcane substitutes will drive the sugar beet juice extract market.

New product launches is a key trend in the sugar beet juice extract market.For instance, in 2021, Just Juice It, an Ireland based food company, launched a new line of cold pressed organic juice shots which includes a beet juice shot.

The beet juice extract is targeted towards sports nutrition applications due to the benefits of beet juice in increasing endurance.

The countries covered in the Sugar Beet Juice Extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.