Delivered September 17, 2019. Contributor: Hillary O.
An overview of the sugar beet market, competitive sugar sources, and the marketing challenges of American Sugar Beet Association.
SUGAR BEET MARKET: Global
Companies using sugar beet for production are also making use of sugar beet by-product known as "dried beet pulp which is left when sugar is extracted from the sliced sugar beet. This by-product is being provided in many forms such as molasses dried, pelleted, and plain dried. Manufacturers are supplying this by-product as a livestock feed. Meanwhile, beet molasses is being used for producing chemicals, yeast, and pharmaceuticals."
The global sugar beet market is forecast to reach $50.4 million by 2026 at a compound annual growth rate of 6.5% from 2017 to 2026.
By end use, transportation fuel and the beet processing industries have the largest share.
The surging demand of sugar beet is attributed to its rich nutrients and its popular use in low-calorie diets. It is also a good alternative to sugarcane. In addition, "extensive use of sugar beet by-products in pharmaceuticals and alcohol production has expedited the market’s growth."