Sugar Beet Juice Extract Global Market Report 2023

New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Sugar Beet Juice Extract Global Market Report 2023' -
The global sugar beet juice extract market grew from $4.73 billion in 2022 to $5.05 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The sugar beet juice extract market is expected to grow to $6.59 billion in 2027 at a CAGR of 6.9%.
The sugar beet juice extract market consists of sales of organic sugarcane juice and conventional sugarcane juice.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Sugar beet juice extract is the juice that is extracted from the root of sugar beet. Sugar beet is a plant whose roots contain a high concentration of sucrose.
North America was the largest region in the sugar beet juice extract market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the sugar beet juice market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sugar beet juice extract are organic and conventional.Organic methods involve limited or no use of chemical fertilizers.
Conventional methods involve the use of chemical fertilisers for cultivation and extraction of sugar beet juice extract.Major applications of sugar beet juice extracts are food and beverages, animal feed, biofuels, cosmetics and personal care, and others.
By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, and online.
The growing demand for sugarcane substitutes is expected to promote the growth of the sugar beet juice extract market.Since cultivation of sugarcane requires heavy water irrigation, alternatives such as sugar beet are being focused on that do not require as much water for cultivation.
According to the United States Department of Agriculture, since the mid-2000s, sugar beets accounted for 55 to 60% of sugar production in the USA, while sugarcane accounted for 40 to 45%. So, the growing demand for sugarcane substitutes will drive the sugar beet juice extract market.
New product launches are a key trend in the sugar beet juice extract market.For instance, in 2021, Just Juice It, an Ireland-based food company, launched a new line of cold-pressed organic juice shots, which includes a beet juice shot.
The beet juice extract is targeted towards sports nutrition applications due to the benefits of beet juice in increasing endurance.
The countries covered in the Sugar Beet Juice Extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sugar beet juice research report is one of a series of new reports that provides sugar beet juice statistics, including sugar beet juice industry global market size, regional shares, competitors with sugar beet juice shares, detailed sugar beet juice segments, market trends and opportunities, and any further data you may need to thrive in the sugar beet juice industry. This sugar beet juice research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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