A sugar beet refers to a plant that comes with high sucrose content. It is cultivated for the purpose of commercial production of sugar. Conical in shape, white in color and with a fleshy root, sugar beet plant is grown in the temperate zone. Sugar is made through the process of photosynthesis and finds storage in the root of the leaves. Rising demand for sugar is likely to drive the growth of the global sugar beet juice extract market over the forecast period, from 2019 to 2027.
Application, distribution channel, and region are the three parameters for the segmentation of the global sugar beet juice extract market.
One of the developments that offer a glimpse of the ongoing dynamics of the global sugar beet juice extract market is as mentioned below:
- In 2018, BMA Braunschweigische Maschinenbauanstalt AG and Salzgitter Maschinenbau AG have merged into one single entity. The purpose of this merger is to come up with a new entity that would create a more stable and diverse portfolio of product offerings. It is expected that with this merger, the newly formed company will be able to expand its business activities across various sectors utilizing local production facilities.
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Some well-known organizations in the global sugar beet juice extract market comprise the below-mentioned:
- Agrana Zucker GmbH
- Nippon Beet Sugar Manufacturing Co.
- BMA Braunschweigische Maschinenbauanstalt AG
- Crop Energies AG
- Southern Minnesota Beet Sugar Cooperative
- NutriScience Innovation LLC
The following drivers, opportunities, and restraints characterize the global sugar beet juice extract market over the review period, from 2019 to 2027.
The global sugar beet juice extract market is forecasted to be driven by the growing demand for substitute for sugar. Unstable climatic conditions affected the quality and quantity of sugar production. Furthermore, as more advanced technology makes foray, development of engineered sugar beets with lesser use of fertilizers and pesticides have been developed. Sugar thus produced is a better substitute than artificial sweeteners. In addition to sugar production, the extract also finds use in the production of biofuels. Such diverse utilities of the product is likely to trigger growth of the global sugar beet juice extract market over the tenure of assessment, from 2019 to2027.
Approval from the relevant authorities has facilitated the use of sugar beet juice extract as a favor enhancer. Food producers are focusing on the utilization of healthy and natural products for the purpose of adding flavor and sweetness to food items. This extract fins copious use in bakery products, confectioneries, cereals, and ice creams.
Sugar beet juice extract is rich in energy and nutrient content and this is likely to accentuate its use in the food processing industry. In addition, this extract finds increased use in other industries like cosmetics and pharmaceuticals. It is also utilized as a deicer in road maintenance and repairs due to its non-sticky and anti-icing properties.
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To offer comprehensive view of the global sugar beet juice extract market, TMR experts have split the market on the basis of regions. Latin America, Europe, the Middle East and Africa, North America, and Asia Pacific constitute the major geographies of the market.
From the geographical viewpoint, a large chunk of the global sugar beet juice extract market is likely to be occupied by Europe. Such regional dominance is owing to high intake of alcoholic beverages and presence of a large number of market players in the region. Canada is also estimated to account for a considerable share of the sugar beet juice extract market due to huge production of sugar in the country.