Dublin, Dec. 28, 2023 (GLOBE NEWSWIRE) -- The "Sugar Beet Juice Extract Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The sugar beet juice extract market size has grown strongly in recent years. It will grow from $5.06 in 2023 to $5.42 in 2024 at a compound annual growth rate (CAGR) of 7.3% andis expected to see strong growth in the next few years. It will grow to $7.03 in 2028 at a compound annual growth rate (CAGR) of 6.7%.
The anticipated growth in the forecast period can be attributed to the rising consumer preference for clean label ingredients, increasing awareness of health benefits such as antioxidants and vitamins, the growing adoption of plant-based and natural ingredients, rising demand in emerging markets and developing countries, and the emphasis on sustainable sourcing and production practices. Key trends in the forecast period include technological advancements in extraction processes, the exploration of functional and nutraceutical applications, fortification and enrichment of products, increased collaborations and partnerships within the industry, and a growing focus on traceability and transparency.
The sugar beet juice extract market is anticipated to experience growth due to the increasing demand for alternatives to sugarcane. This demand is fueled by the focus on sugar beet cultivation, which requires less water irrigation compared to sugarcane. According to the United States Department of Agriculture, sugar beets have consistently accounted for 55 to 60% of sugar production in the USA since the mid-2000s, with sugarcane comprising 40 to 45%. The shift toward sugarcane substitutes, driven by water conservation concerns, is expected to drive the growth of the sugar beet juice extract market.
The sugar beet juice extract market is poised for growth with the rising demand for biofuels. Biofuels, derived from organic materials, are considered a renewable alternative to traditional fossil fuels. Sugar Beet Juice Extract Esters serve as a renewable feedstock in biofuel production. The International Energy Agency (IEA) reported in 2021 that global biofuel demand is projected to grow by 41 billion liters or 28% from 2021 to 2026. This growing demand for biofuels is identified as a key driver propelling the sugar beet juice extract market.
A significant trend in the sugar beet juice extract market is the introduction of new products. Just Juice It, an Ireland-based food company, exemplified this trend by launching a line of cold-pressed organic juice shots in 2021, featuring a beet juice shot. This particular beet juice extract is strategically targeted at sports nutrition applications, leveraging the performance-enhancing benefits of beet juice in increasing endurance.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
- Markets Covered:
- By Product Type: Organic; Conventional
- By Application: Food and Beverages; Animal Feed; Bio Fuels; Cosmetic and Personal Care; Other Applications
- By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; Online
- Companies Mentioned: BMA AG; Agrana Zucker GmbH; Nippon Beet Sugar Manufacturing Co. Ltd.; NutriScience Innovations LLC; Amalgamated Sugar Company LLC
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Companies Profiled
- BMA AG
- Agrana Zucker GmbH
- Nippon Beet Sugar Manufacturing Co. Ltd.
- NutriScience Innovations LLC
- Amalgamated Sugar Company LLC
- Nordzucker AG
- CropEnergies AG
- Southern Minnesota Beet Sugar Cooperative
- Sudzucker Polska S.A.
- British Sugar plc
- Snake River Sugar Company
- Agrana Beteiligungs-AG
- Michigan Sugar Company
- Rana Sugar Ltd.
- Tereos Internacional S.A.
- Cosucra Groupe Warcoing SA
- Nordic Sugar A/S
- Spreckels Sugar Company
- Western Sugar Cooperative
- American Crystal Sugar Company
- Minn-Dak Farmers Cooperative
- Sidney Sugars Incorporated
- United Sugars Corporation
- Imperial Sugar Company
- Rogers Sugar Inc.
- Tongaat Hulett Sugar South Africa Ltd.
- Zucarmex S.A. de C.V.
- DuPont Inc.
- Tate and Lyle plc
- Siemens AG
For more information about this report visit https://www.researchandmarkets.com/r/zatyxh
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