Global Sugar Beet Juice Extract Market demand is anticipated to be valued at USD 5.09 in 2022, forecast to grow at a CAGR of 5.6% to be valued at USD 8.8 Billion from 2022 to 2032. Growth is attributed to the rising prevalence of lifestyle diseases such as obesity, diabetes, high blood pressure, and other cardiovascular diseases.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 4.82 Billion |
| Expected Market Value (2022) | USD 5.09 Billion |
| Anticipated Forecast Value (2032) | USD 8.8 Billion |
| Projected Growth Rate (2022 to 2032) | 5.6% CAGR |
Traditionally, Sugar beet (Beta vulgaris L.), a plant root belonging to the amaranth family, is cultivated in temperate regions and is rich in the concentration of sucrose. Sugar beet is cultivated in many countries such as the USA, Russia, African countries, South America, and the Middle East, mainly for the sugar beet juice extract.
The juice extracted from the sugar beet plant is used as a natural sweetener in many food & beverage products. Sugar beet juice extract is extracted from diced sugar beets by the solid-liquid extraction method using water. Sugar beet juice extract is used mainly for the production of processed sugar which is one of the largest manufactured ingredients in the world.
North America is considered to be a highly lucrative market for the sugar beet juice extract market and its different products, driven primarily by its utilization across the food industry, sugar industry, and sports nutrition. The thick sugar beet juice extract can also be used for the production of bioethanol. For the production of bioethanol, the thick juice can be fermented directly with the aid of yeasts.
Simultaneously, the harvesting process for sugar beet extract and the high prices of processing equipment will pose a major challenge to the growth of the market. Hence, manufacturers are striving to develop more user-friendly alternatives. This is expected to restrain market growth to a significant extent.
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The food and beverage industry is expected to accrue significant benefits to the global sugar beet juice extract market. The sugar beet juice extract market is expected to witness significant growth in the near future. This is attributed to the increasing availability of these products across online stores and specialty stores.
Technological development in processing methods and new techniques are being developed to extract biofuel and bioproducts from sugar beet juice extract. This will increase the demand for the market through forecasting years. Due to the increasing population, the demand for the sugar industry is high in the Pharmaceutical and cosmetics industries.
Although the sugar beet juice extract market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The availability of other low-cost alternatives may hinder the growth of the sugar beet juice extract market. With increasingly complex rules and regulations, sugar beet juice extract manufacturing companies are focusing on producing creative and innovative products.
The high cost associated with the research and development activities and the availability of alternatives is anticipated to act as a significant growth barrier to the sugar beet juice extract market in forthcoming years.
North America was the largest market for sugar beet juice extract market and the trend is expected to continue into the forecast period owing to the high production of sugar beet in the region. Growing demand for natural sweeteners is expected to augment the sugar beet juice extract market. The region is forecast to surge at over 5.2% CAGR from 2022 to 2032.
About half of the sugar produced in the USA is from sugar beet juice extract which is likely to increase in the future owing to the increased pharmaceutical industry. Also, sucrose from sugar beet is widely used as a food or food additive and is among some of the most prominent growth drivers for the North American region.
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the sugar beet juice extract Market, with Germany expected to steer the bulk of all regional markets as research in the production of bioethanol is increasing in the country.
Sugar beet is a good crop for bioethanol production, thus increasing the demand for sugar beet juice extract in the region. Sugar beet juice extract is a good source of fiber, vitamin C, iron, and calcium. Sugar beet juice extract also contains silica, which is very good for skin health and scalp health. Thus the demand Is high in the cosmetic and personal care industry.
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Some of the key participants present in the global sugar beet juice extract market include NutriScience Innovations LLC., BMA BraunschweigischeMaschinenbauanstalt AG, Nordzucker AG, Amalgamated Sugar Company, Crop Energies AG, Siemens AG, and Agrana Zucker GmbH among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as NutriScience Innovations LLC., and BMA BraunschweigischeMaschinenbauanstalt AG, account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Nature, End-use, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | NutriScience Innovations Llc; BMA AG; Nordzucker AG; Amalgamated Sugar Company; Crop Energies AG; Siemens AG; Agrana Zucker GmbH
|
| Customization | Available Upon Request |
FMI projects the global sugar beet juice extract market to expand at a 5.6% value CAGR by 2032
North America is expected to be the most opportunistic mussel oils market, expanding at a 5.2% CAGR
Nutriscience Innovations LLC., BMA BreunschweigischeMschinenbauanstalt AG, Nordzucker AG, Amalgamated Sugar Company, Crop Energies AG, Siemens AG, and Agrana Zucker GmbH Limited are some prominent sugar beet juice extract manufacturers
| Market Size (2023E) | US$ 13.6 billion |
|---|---|
| Market Projected Size (2033F) | US$ 23.3 billion |
| Value CAGR (2023 to 2033) | 5.5% |
| Market size value in 2023 | USD 14,668.30 Million |
|---|---|
| Market forecast value in 2033 | USD 27,021.6 Million |
| Growth rate (2023 to 2033) | 6.30% |
| Market Size Value in 2022 | USD 788.0 Million |
|---|---|
| Market Forecast Value in 2032 | USD 1,438.1 Million |
| CAGR (2022 to 2032) | 6.2% |
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