Press release
TMR Releases New Report on the Sugar Beet Market 2017-2026
European Food Safety Authority (EFSA) recently cleared genetically modified sugar beet to be used in food, processing, feed imports, and for food containing ingredients produced from it. Although, it has not been authorized for cultivation within the EU. GM sugar beet is also being considered for biofuel production. Meanwhile, regulatory agencies across the world have also concluded that the white sugar whether extracted from conventional sugar beet or from biotech sugar beets is the same, with no difference in nutritional value or composition.
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A new study by Transparency Market Research (TMR) projects the global market for sugar beet to witness strong growth. It also projects the market to register 6.5% CAGR during 2017-2026. The market is estimated to reach US$ 50,420.1 million revenue by 2026 end.
Other End Products Consisting Pressmud, Beet Pulp, Bagasse, and Molasses to Gain Maximum Traction
Among various products made using sugar beet, other end products consisting pressmud, beet pulp, bagasse, and molasses are likely to gain more than half of the revenue share by 2017 end. Meanwhile, raw sugar made using sugar beet is projected to exceed US$ 10,900 million revenue. Sugar beet molasses is being used as a de-icing agent on roads, as it does not corrode. Moreover, sugar beet pulp and molasses are used as a feed for livestock. These by-products from processing sugar beet are also being used in commercial backing, alcohol production and pharmaceuticals. Also, waste lime to increase soil pH levels is being made from sugar beet by-products.
Beet Processing Industry to Gain Maximum Revenue Share
Beat processing industry is likely to emerge as the largest user of the sugar beet. By 2026 end, beat processing industry is projected to surpass US$ 21,500 million revenue. Other than the rise in the production of sugar from sugar beet, there has been a rise in the use of by-product obtained by processing sugar beet. Hence, the beet processing industry is accounting for the increasing using sugar beet.
Europe to Rule the Global Market for Sugar Beet
Europe is likely to emerge as the largest region in the global market for sugar beet. Most of the sugar beet is cultivated in the northern part of the Europe, due to the favorable climate suitable for growing sugar beet. The countries contributing towards the sugar beet production are France, U.K., Germany, and Poland. Moreover, in order to support the sugar beet production and farmers, nearly eleven EU countries have agreed to provide support sugar beet producers. Meanwhile, North America is also likely to witness growth in the sugar beet production in the coming years.
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Competition Tracking
Agrana Zucker Gmbh, Michigan Sugar Company, Amalgamated Sugar Company, LLC, Southern Minnesota Beet Sugar Cooperative, Rana Sugar Ltd, Tereos, Nordic Sugar A/S, Nippon Beet Sugar Manufacturing Co. Ltd., British Sugar Plc, and American Crystal Sugar Company are some of the market players in the global market for sugar beet.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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