The Sugar Beet Juice Extract Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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In accordance with The Business Research Company’s Sugar Beet Juice Extract Global Market Report for 2024, the market has experienced robust growth in recent years, surging from $5.06 billion in 2023 to an estimated $5.42 billion in 2024, reflecting a noteworthy compound annual growth rate (CAGR) of 7.3%. The historical expansion is attributable to its traditional utilization in the food and beverage sector, the widespread availability and cultivation of sugar beets, cost-effectiveness in production, heightened demand for natural sweeteners, regulatory endorsements, and its established acceptance as a food ingredient.
Forecasts project a robust trajectory for the sugar beet juice extract market, envisioning its size reaching $7.03 billion by 2028, boasting a CAGR of 6.7%. This anticipated growth is underpinned by the burgeoning consumer inclination towards clean label ingredients, a heightened awareness of health benefits such as antioxidants and vitamins, a rising preference for plant-based and natural constituents, expanding markets in developing countries, and a mounting demand for sustainable sourcing and production practices.
The growing demand for sugarcane substitutes is expected to promote the growth of the sugar beet juice extract market. Since cultivation of sugarcane requires heavy water irrigation, alternatives such as sugar beet are being focused on that do not require as much water for cultivation. According to the United States Department of Agriculture, since the mid-2000s, sugar beets accounted for 55 to 60% of sugar production in the USA, while sugarcane accounted for 40 to 45%. So, the growing demand for sugarcane substitutes will drive the sugar beet juice extract market.
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The sugar beet juice extract market covered in this report is segmented –
1) By Product Type: Organic, Conventional
2) By Application: Food and Beverages, Animal Feed, Bio Fuels, Cosmetic and Personal Care, Other Applications
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenienve Stores, Online
Top 5 Major Players:
- BMA AG
- Agrana Zucker GmbH
- Nippon Beet Sugar Manufacturing Co. Ltd
- NutriScience Innovations LLC
- Amalgamated Sugar Company LLC
Key trends shaping the industry landscape in the forecast period encompass technological advancements in extraction processes, the integration of functional and nutraceutical applications, fortification and enrichment strategies, collaborative ventures and partnerships, as well as an emphasis on traceability and transparency.
Notably, a pivotal trend within the sugar beet juice extract market revolves around the introduction of innovative products. Illustratively, in 2021, Just Juice It, a prominent Ireland-based food company, unveiled a cutting-edge line of cold-pressed organic juice shots, featuring a specially crafted beet juice shot. This particular beet juice extract caters to the sports nutrition segment, leveraging the inherent benefits of beet juice in enhancing endurance and performance. This paradigm shift underscores the industry’s commitment to staying at the forefront of nutritional innovation and meeting the evolving preferences of consumers.
The sugar beet juice extract market report table of contents includes:
1. Executive Summary
2. Sugar Beet Juice Extract Market Characteristics
3. Sugar Beet Juice Extract Market Trends And Strategies
4. Sugar Beet Juice Extract Market – Macro Economic Scenario
5. Global Sugar Beet Juice Extract Market Size and Growth
….
31. Global Sugar Beet Juice Extract Market Competitive Benchmarking
32. Global Sugar Beet Juice Extract Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sugar Beet Juice Extract Market
34. Sugar Beet Juice Extract Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ BillionTable 3: Global Sugar Beet Juice Extract Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Sugar Beet Juice Extract Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Sugar Beet Juice Extract Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…
Table 74: BMA AG Financial Performance
Table 75: Agrana Zucker GmbH Financial Performance
Table 76: Nippon Beet Sugar Manufacturing Co. Ltd. Financial Performance
Table 77: NutriScience Innovations LLC Financial Performance
Table 78: Amalgamated Sugar Company LLC Financial Performance
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