Global Sugar Beet Juice Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Global Sugar Beet Juice Market: Overview

“The global Sugar Beet Juice Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Sugar beet is a plant that is used for the production of sugar. Its roots consist of sucrose which is a major substance for sugar production and this is extracted. The juice that is extracted forms a sugar substitute. These extracts have been widely used in bakery and confectionery products as natural sweeteners and coloring agents.

Global Sugar Beet Juice Market: Dynamics

Declining sugar production owing to inconsistent weather conditions and has led to an increasing demand for sugar substitutes. Sugar beet extracts have been preferred as a major sugar substitute and have been used extensively on various food products such as cake, ice creams, and other confectionery products.

Sugar beet cultivators are making use of technologies to grow sugar beets with a lower application of pesticides and fertilizers. The sugar extracted from these beets is used as sweeteners in food and beverage large-scale manufacturing. These extracts are also used for the production of bio-fuel. The multiple-purpose nature of these products is among some of the factors contributing to market growth.

Increasing consumption of food and beverages is leading to a growth in the demand for sugar. The sugar beet extracts are being used as natural sweeteners, flavoring and coloring ingredients in various food products and its increasing applications are impacting demand.

The European Food Safety Authority (EFSA) recently approved of the usage of sugar beets that are modified genetically. Moreover, the rising production of sugar beet and its application in ethanol production is expected to drive the overall market growth.

 Global Sugar Beet Juice Market: Segmentation Analysis

By Application:

The Food and beverage segment is expected to account for a majority revenue share over the forecast period. The sugar beet juice has been extensively incorporated in food and beverages as a coloring and flavoring agent.

These extracts have been approved by the Flavor Extract Manufacturer (FEMA) and Generally Recognized As Safe (GRAS)  as a natural sweetener and flavoring agent for food and beverages. These products offer health benefits owing to which, food manufacturers use it as a flavor enhancer in products such as cereals, confectionery, bakery products, and ice creams.

 By Distribution Channel: 

Supermarkets/hypermarkets segment is expected to register a high Compounded Annual Growth Rate (CAGR) over the next 10 years. Supermarkets as distribution channels have been considered among viable channels by end-users as these stores allow customers a wide variety of product choices.

Global Sugar Beet Juice Market Regional Analysis:

The market in North America is expected to continue to dominate the global market in terms of revenue share, with the market in Canada accounting for the majority revenue of the regional market. This is attributed to the large-scale production of sugar beet juice in Canada. In addition, companies are launching products with extensive incorporation of sugar beet juice.

These are among other major factors that are contributing to positive market growth. Rising consumption of beverages including alcohol content is leading manufacturers to incorporate natural sweeteners to augment the taste of the product and to widen their respective consumer bases.

The market in the Asia Pacific region is projected to register a fast growth rate over the forecast period. Growth in the Asia Pacific market is marked by the transformation in lifestyles and the adoption of western ways of living.

Countries such as India, China, and Bangladesh are major contributors to the revenue of the regional market. Demand for Ready-to-Eat (RTE) and convenience food products are gaining traction in these countries which are leading to regional sugar beet juice market growth.

Global Sugar Beet Juice Market Segmentation: 

By Application

• Food & Beverages
• Animal Feed
• Bio-Fuel
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Store
• Online

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa