5-Pointer Forecast on Refined Beet Market for the Period 2017-2022
Published : 09 Aug 2017 Industry: Food & Beverage
High quality sugars procured from beetroots are continually transforming sugar industries across the globe. In the view of rising demand for refined sugars, owners of sugar factories are shifting their focus from sugarcanes to sugar beets in terms of sourcing refined sugar. In addition to this, artificial sweeteners are finding applications across various verticals in the food & beverage industry. These sweeteners can be feasibly manufactured from refined beet, which is turning into a key driver for growth of the global refined beet market.
According to a recent report published by Fact.MR, the global market for refined beet will witness a steadfast expansion during the forecast period, 2017-2022. By registering a steady CAGR, the global refined beet market is projected to bring in more than US$ 14 Bn in revenues by the end of 2022. Following projections offer an outlook on future prospects of global refined beet market.
Key Insights on Future of Global Refined Beet Market
- Through 2022, the Asia-Pacific excluding Japan (APEJ) region will be the largest market for refined beet. Procuring highest share on global revenues, the APEJ refined beet market is poised to reflect a steady growth at 5.2% CAGR.
- North America and Europe will also be at the forefront of global expansion of refined beet market. By the end of 2022, these two regions will collectively contribute nearly US$ 2.2 Bn in revenues to the global refined beet market.
- By 2022-end, more than one-third of global refined beet market value will be contributed by global sales of liquid sugars. While liquid sugars will be observed as top-selling products in the global refined beet market, global sales of powdered sugar products will also incur considerable traction towards the latter half of the forecast period.
- Food processing is poised to remain the largest and most attractive end-use of refined beet sugars in the global market. By 2022, more than US$ 6 Bn worth of refined beet sugars will be consumed in food processing applications across the globe, particularly for their effective role in production of artificial sweeteners.
- During the forecast period, the retail end-use of refined beet sugars is expected to gain traction. In 2017 and beyond, more than one-fourth share of global revenues procured in the global market will arise from the use of refined beet in retailers segment. The demand for refined beet sugars in industrial uses will also gain traction.
The report has also profiled prominent players in the global market for refined beet sugars. Companies such as Nordzucker Gmbh & Co KG, Cosan SA Industria and Commercio, Tereos international limited, Suedzucker AG, Associated British Foods Plc., Louis Dreyfus Company, Shree Renuka Sugars Limited, Wilmar International Limited, and American Crystal Sugar Company are expected to remain active in the expansion of global refined beet market through 2022. A majority of these players are expected to focus on bridging the gap between farmers cultivating sugar beets, and owners of sugar refineries & factories.