A recent report published by Infinium Global Research on the sugar beet juice extract market provides an in-depth analysis of segments and sub-segments in the global as well as regional sugar beet juice extract market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional sugar beet juice extract market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global sugar beet juice extract market. According to the report, the global sugar beet juice extract market is projected to grow at a CAGR of 5.5% over the forecast period of 2021-2027, growing from nearly USD 5.11 billion in 2020 to about USD 7.39 billion in 2027.

Market Insight

Sugar beet is a plant root that is traditionally found in temperate regions to make for its juice, which is high in sucrose. The crop is native to the Mediterranean region, but nowadays it is widely cultivated across various regions including the Americas, Africa, and the Middle East. Sugar beet is used for the commercial production of sugar, as it contains a high level of sucrose. The root is mashed and squeezed to extract its juice which is further used to make processed sugar, as well as, used as sweetener, and flavoring, and coloring agent. Moreover, the sugar beet juice extract is also used for the production of bioethanol. The juice fermented with the help of yeast produces ethanol, which can be used in biofuels. Furthermore, the market players are focusing on developing innovative genetically modified crops and production technologies to improve the sucrose levels in the roots.

The sugar beet juice extract market was affected fairly positively by the COVID-19 outbreak. Several countries implemented lockdown restrictions and asked civilians to stay inside their homes. These lockdowns and concerns over the contracting infection led to panic buying. People bought essential products such as food & beverage, and personal care products in large quantities in order to prepare for long quarantine. This increased sale of food & beverage, and personal care products, which, in turn, augmented the demand for sugar beet juice extract, which is used in these products. However, the demand for fuel declined rapidly over the period of a pandemic. The government restrictions and concern among the population dropped the usage of vehicles. Furthermore. As the demand for fuel dropped due to the reduced use of vehicles, the sale of sugar beet juice extract used for biofuel application decreased during the pandemic. Nevertheless, the demand for biofuel is coming back to its normal state as the crisis subside.

The growing demand for sugarcane substitutes is majorly driving the growth of the sugar beet juice extract market. Sugarcane cultivation is a capital-intensive process and requires constant supervision. The fluctuations in the climatic conditions make sugarcane cultivation even more difficult. While sugar beet is comparatively easy to cultivate, making it a suitable substitute for sugarcane. Moreover, the increasing demand for biofuel and ethanol-blended fuel is supporting the use of sugar beet juice extract to make ethanol. Ethanol in fuel help reducing the greenhouse gas emission as well as improves fuel economy, and prolongs the engine life. Such benefits of ethanol-blended fuel are driving the production of ethanol for fuel, which, in turn, augments the growth of the sugar beet juice extract market. However, sugar beet harvesting is a labor-intensive process, which is anticipated to hamper the market growth. Nevertheless, the development of innovative harvesting technologies and genetically modified sugar beets are expected to boost the market growth over the forecast.

The global sugar beet juice extract market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among the regions, Europe accounted for the highest revenue in the global sugar beet juice extract market and is expected to dominate the market through the forecast period. The European sugar beet juice extract market is majorly driven by the higher production of sugar beet, and the availability of premium and high yield seeds in the region. The demand for sugar beet from the food, and personal care industry is higher in this region. As sugar beet is easily available in the region compared to sugarcane, the sugar beet juice extract is widely used to make food and personal care products. On the other hand, the Asia Pacific region is expected to grow at a rapid rate in the global sugar beet juice extract market. The higher consumption of packaged food and cosmetics in the region is mainly attributed to high market growth in the Asia Pacific region for sugar beet juice extract.

Segment Covered

The report on global sugar beet juice extract market covers segments such as product type, application, and distribution channels. On the basis of product type, the sub-markets include organic, and conventional. On the basis of application, the sub-markets include food & beverages, animal feed, cosmetics & personal care, bio fuel, and others. On the basis of distribution channels, the sub-markets include B2B, and B2C.

Companies Profiled:

The report provides profiles of the companies in the market such as 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.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the sugar beet juice extract market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.