The size of the Europe beet sugar market is expected to be worth USD 1.45 billion in 2024 and grow at a CAGR of 4.89% from 2024 to 2029 to achieve USD 1.84 billion by 2029.
Sugar is the most widely used sweetener in the world and the closest substitute is high fructose corn syrup (HFCS). Tropical sugar beet sugar is a biennial sugar that produces tuber crops grown in temperate countries. It represents approximately 30% of total world production and is distributed in more than 45 countries. Sugar beets efficiently convert solar energy into a form that can be used by animals and humans. Beet sugar is an industrial crop which is majorly used for food processing and used in the production of biogas and ethanol. In tropical countries, sugar beet crops provide a valuable alternative to sugar cane. In terms of production and consumption, the growth of the beet sugar market has been on the rise over the past few years and is expected to strengthen at a rapid pace during the forecast period. Manufacturers around the region are involved in the production of sugar with the production of beet sugar which also uses in the process of by-products of dried sugar beet pulp. Dried beet pulp is also available in a variety of forms, such as dry, granulated, and general dried molasses, and is also used as livestock feed. The augmented usage of sugar beets has increased the usage in confectionery, bakery, and beverage products, supporting growth in the European market.
Increasing population and disposable personal income are expected to drive growth in the Europe Beet Sugar market. In addition to this, lifestyle changes coupled with urbanization and increased health-related deteriorations as consumption increases are supposed to drive the Europe Beet Sugar market over the outlook period. It is also a decent alternative to sugar cane. These factors have led to a tremendous increase in production, boosting the European market. The emergence of new customer grades and the entry of several new global players are expected to strengthen the growth of the Europe Beet Sugar market during the foreseen period. In addition, by-products of sugar beet, such as dried molasses, sugar cane, yeast and sugar beet pulp, are used in various industries. They are used as road de-icing agents and also as feed for livestock. All those factors are contributing significant growth in the Europe Beet sugar market. It has also accelerated the Europe Beet Sugar market growth through the extensive use of sugar beet by-products in pharmaceutical and alcohol production. The Europe Beet Sugar market has seen significant growth as interest in health and nutrition awareness grows regionally. Furthermore, the growing interest in sugar beet agriculture and the widespread application of Beet Sugar in various end-use industries is another factor that is estimates to increase the utilization of the product. The emergence of new customer grades and the entry of several new Europe Beet Sugar players are expected to strengthen the growth of the Europe Beet Sugar market during the conjecture period. Nevertheless, the government is likely to provide growth opportunities for the Europe Beet Sugar market by implementing various policies to reduce environmental problems and promote the growth of these crops.
There are several constraints that can hamper the growth of the Europe Beet Sugar market. One of the main deterrents is the adverse effects of pollution on the production of sugar beet crops. The extraction of sugar from these unhealthy crops can impede the Europe Beet Sugar market growth by reducing the quality of the final product. However, strict government regulations regarding environmental controls can mitigate the effects of restrictions.
The coronavirus pandemic is affecting societies and economies around the Europe. The impact of this pandemic is not only affecting the supply chain, but also increasing day by day. The COVID-19 crisis is creating uncertainty in the stock market, a massive slowdown in the supply chain, a decline in business credibility, and increased panic among customer segments. Trade barriers are further holding back the supply and demand outlook. The entire production process is negatively affected as the governments of various regions have already announced full closures and temporary closures of the industry. Therefore, it disrupts the Beet Sugar market around the region.
In the coming years, the beverage sector is expected to gain the greatest market appeal in the global sugar beet market by 2025.
Medical conditions are supposed to be higher during the forecast period.
Europe is likely to emerge as the largest region in the Beet Sugar market. Most beets are grown in Northern Europe due to the climate suitable for growing sugar beets. The countries that contribute to Europe Beet Sugar production are the United Kingdom, Germany, France and Poland. Furthermore, to support sugar beet production and farmers, almost in 11 EU countries have agreed to support sugar beet growers. The European Food Safety Authority (EFSA) has approved the use of genetically modified sugars for the importation of food, processing and feed. This has greatly strengthened the growth of the Europe Beet Sugar market. Regulatory bodies in other countries are also promoting the use of sugar beets, as they find multiple applications in the pharmaceutical and chemical industries. It is also used in the production of biofuels, opening up new growth opportunities for the Europe Beet Sugar market.
Major Key Players in the Europe beet sugar market are Michigan Sugar Company, Agrana Zucker Gmbh, Southern Minnesota Beet Sugar Cooperative, Amalgamated Sugar Company, LLC, Tereos, Rana Sugar Ltd, British Sugar Plc, Nippon Beet Sugar Manufacturing Co. Ltd, Nordic Sugar A/S, and American Crystal Sugar Company
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