Sugar has been the most widely used sweetener in the world, with its closest substitute being high-fructose corn syrup (HFCS). Tropical beet sugar is a biennial sugar producing tuber crop developed in temperate countries. It constitutes around 30% of the total world production as well as distributed in more than 45 countries. Sugar beet is efficient converter of solar energy to a form that can be used by animals and men. The top ten sugar beet producing countries include Russia, France, U.S., Germany, Ukraine, Turkey, Poland, China, U.K. and Egypt. Beet sugar is an industrial crop utilized in food processing as well as in production of ethanol and biogas. In tropical countries, the sugar beet crop offers precious alternative to sugarcane. The beet sugar market growth in terms of production and consumption has showcased an upliftment over the past few years and is likely to intensify at a rapid pace during the forecast period.
Global Beet Sugar: Market Segmentation
The Global Beet Sugar market is segmented on the basis of consumption in industry such as cereal, bakery, ice-cream, confectionery, beverage and dairy industry. Over the next few years, beverage segment is anticipated to grab highest market attractiveness in the global beet sugar market till 2026. The global beet sugar market is also segmented on the basis of function such as regular and medical conditions. The global beet sugar market is also segmented on the basis of organizational structure such as unorganized and organized market. The share of former is anticipated to be more over the forecast period.
Global Beet Sugar Market: Growth Drivers
Rising population and personal disposable income is anticipated to bolster the growth of global Beet Sugar market. Apart from this, changing lifestyle along with urbanization and increasing health related disorders are expected to drive the global Beet Sugar market during the forecast period as the consumption will rise. The advent of new class of customers as well as the entry of various new global players is expected to intensify the growth of Beet Sugar market all across the globe during the forecast period.
Global Beet Sugar Market: Regional Outlook
Geographically, the Global Beet Sugar industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. North America contributed the highest share in the global Beet Sugar market in 2015. The size of America has been doubled over the past few years in production of beet sugar. For growers in Western and Central Europe, it is already a high value crop. But in Eastern Europe, while acreage and volumes are maximum, there is significant scope to increase quality of seed. Over the next few years, Asia Pacific is expected to expand at a higher pace during the forecast period. India is expected to be the world’s fastest growing market, driven by increasing standard of living. Apart from this, gains in developing regions such as Middle-east and Africa will also be strengthened by changing standard of living. Advances in Western Europe is expected to benefit from strong incline in number of new housing units.
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Global Beet Sugar Market: Players
Some of the key vendors identified across the value chain of the global Beet Sugar market include syngenta, Renuka beet sugar, Spreckals Sugar Company, Michigan Sugar Company, Amalgamated Sugar Company. Various players are anticipated to appear in the industry with the manufacturing of new and innovative products in the industry. The companies are anticipated to invest in research and development in order to expand the business and to maintain the market share in the global beet sugar market.