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The sugar beet market size is estimated to grow by USD 2,667.92 million at a CAGR of 5% between 2022 and 2027.
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The rise in demand in food and beverage applications has a positive impact on the market growth. Due to the increasing popularity of sweetened products and beverages, the demand has been on the rise. Growing preference of consumers for sugary drinks and food items, leading to an increase in demand. Sweetened products such as chocolates, candies, and pastries depend heavily on raw as a primary ingredient. Among children, these products are not so popular but also among adults who seek ways to satisfy their sweet cravings, and food products sweetened with raw are the perfect solution. Companies in the beverage industry are contributing immensely to the demand. Moreover, in the food service industry, fast foods such as burgers, pizzas, and sandwiches also depend on these as a key ingredient. Because of their taste, convenience, and affordability, these foods are popular among consumers. Therefore, these factors are expected to drive the growth of the market during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Growing demand for organic sweeteners is an emerging trend shaping market growth. With increased awareness of the adverse impact on health due to raw products, many informed consumers have been using organic products. Organic is considered to be healthy and is attaining traction in the market. Numerous players are offering organic in the market. Nordzucker offers an organic range made from beet. Also, Sudzucker was one of the first European sweet producers to offer organic products. The consumer base for organic products that contain beet is expected to increase, which, in turn, is expected to fuel the growth of the market in focus during the forecast period.
Fluctuations in weather conditions affecting sugar beet production are an emerging trend shaping market growth. Climatic conditions play a crucial role in the production. The industry heavily relies on favorable weather conditions. In recent times, the entire world has been experiencing increasing temperatures and changes in rainfall patterns, along with extreme weather conditions like droughts, floods, and tornados, triggered primarily by global climate change, which has negatively impacted the overall agriculture sector, resulting in lower production levels and increased prices of raw. Also, uncertain climatic conditions can lead to pest infestations and diseases that can have negative effects on the cultivation industry. Regular changes in climatic conditions can make pests and plant diseases resistant to conventional pesticides and herbicides. Adding to these challenges, extreme weather events such as cyclones, typhoons, and hurricanes, which are becoming more frequent and intense due to global climate change, can damage or destroy crops and have devastating consequences on farmers and processing industries. Therefore, such factors are expected to hinder the growth of the market during the forecast period to some extent.
The raw sugar segment by type dominated the global market in 2022. It is anticipated to retain its dominance during the forecast period. The segment is a dynamic and continually evolving industry. Changing consumer preferences, supply chain management, and government policies for the agriculture industry. are the major driving factors. Nevertheless, the growing popularity of low-calorie and natural sweeteners in the food and beverage industry has led to a decline in demand. Therefore many producers have diversified their product portfolios to include alternative sweeteners, such as muscovado sugar and stevia. such factors impeded the growth of the segment, thus making it essential for producers to desire creative ways to remain competitive. Another important driver of the growth of the segment is supply chain management. The industry is dependent on production and export from Europe. However, trade policies such as import tariffs and restrictions can create market barriers and restrict the growth potential of the segment. Despite these challenges, the segment is projected to grow steadily during the forecast period due to the rising demand for products such as chocolate, confectionery, and bakery goods. The rising population and growing disposable income in emerging markets such as China and India are anticipated to contribute immensely to the segment growth, which, in turn, is expected to boost the growth of the market in focus during the forecast.
The market share growth by the offline segment will be significant during the forecast period. The offline segment by distribution channel dominated the market in focus in 2022.
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The offline segment was valued at USD 6,6167 million in 2017 and continued to grow until 2021. It is anticipated to retain its dominance during the forecast period as well. this segment includes supermarkets and hypermarkets, convenience stores, and specialty stores. Supermarkets and hypermarkets are the most popular and preferred distribution channels for food and beverages, given that they offer the convenience of availing of a wide assortment of products under one roof. The number of convenience stores is growing in developed countries, such as the UK and the US. These stores make products such as food and beverages easily accessible and are very appropriate for on-the-go consumption. This allows these retail outlets to price products at competitive prices by delivering discounts, which competitors may find complicated to match. Such factors will positively influence the growth of the offline segment of the market in focus during the forecast period.
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Europe is estimated to account for 35% of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is North America. This region plays an important role in the global market. The region comprises several countries, including the US, Canada, and Mexico. The US is one of the largest consumers globally. The country produces these domestically and also imports a substantial amount. For instance, the US produces about 9 million tons of sweets per year, with sweets accounting for 55 to 60% of the production. In addition, the North American Free Trade Agreement has played a vital role in facilitating the smooth flow of raw items and refined items among the member countries. This agreement has helped lower trade barriers and tariffs, making it easier for producers and buyers to conduct business across national borders in North America. therefore these factors are expected to drive the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is driven by the high sucrose content in Beta vulgaris sub roots, making them a valuable source for sugar production. Apart from sucrose, sugar beets contain beet pulp, which is rich in carbohydrates, minerals like Manganese and Potassium, and Vitamin C and B vitamins, including folic acid.
These nutrients contribute to the root's antioxidant properties, supporting immunity and potentially reducing the risk of immunodeficiency diseases. These are also used as substitutes and in the production of fertilizers, biofuels, and prepared foods due to their coloring and flavoring components. The market is influenced by the growing trend towards a healthy lifestyle, driving the demand for products like beetroot molasses and energy drinks that contain betaine, known for its health benefits. Additionally, there is a growing health awareness among consumers, leading to an increased focus on animal welfare and the use of these products in livestock feed.
Sugar Beet Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2023-2027 |
USD 2,667.92 million |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
4.55 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 35% |
Key countries |
US, China, Russia, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGRANA BEteilgungs AG, Amalgamated Sugar, American Crystal Sugar Co., Associated British Foods Plc, BMA Braunschweigische Maschinenbauanstalt AG, CropEnergies AG, Michigan Sugar Co., Nippon Beet Sugar Manufacturing Co. Ltd., Nordzucker AG, NutriScience Innovations LLC, Pfeifer and Langen GmbH and Co. KG, Rana Group of Companies, Southern Minnesota Beet Sugar Cooperative, Sudzucker AG, Syngenta Crop Protection AG, TEREOS PARTICIPATIONS, Western Sugar Cooperative, and Wyoming Sugar Co. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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