Beet Sugar Sales Likely to Total US$ 7.8 Billion by 2034 Amid Rising Demand for Cane Sugar Alternatives and Changing Dietary Patterns | Future Market Insights, Inc.

Future Market Insights Global and Consulting Pvt. Ltd.
Future Market Insights Global and Consulting Pvt. Ltd.

The United States beet sugar market size is expected to reach US$ 2.7 billion by 2034. Over the forecast period, sales of beet sugar in the United States are projected to expand at 4.2% CAGR. Growing demand for sugar will drive the growth of the world market for sugar beet juice extract during the forecast period.

NEWARK, Del, Jan. 11, 2024 (GLOBE NEWSWIRE) -- As per the latest analysis, the global beet sugar market value is expected to total US$ 4.6 billion in 2024. Overall, beet sugar demand is projected to increase at 5.5% CAGR throughout the forecast period. Accordingly, the total market valuation is set to reach US$ 7.8 billion by 2034.

Demand in the market remains exceptionally high for granulated beet sugar. The target segment is anticipated to account for a revenue share of 45.6% in 2024. This can be attributed to growing usage of granulated sugar for different applications due to its versatility.

Several factors are expected to drive growth of the beet sugar industry during the assessment period. These include high sugar demand, expanding food & beverage industry, and rising preference for cane sugar alternatives.

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In recent years, there has been a dramatic rise in sugar demand, including beet sugar, and the trend is expected to continue through 2034. This is due to factors like population explosion, urbanization, and changing dietary patterns.

The food and beverage industry is becoming a leading consumer of beet sugar. Top food and beverage companies are incorporating beet sugar into a wide range of products. This is expected to boost the global beet sugar market during the forecast period.

The versatility of beet sugar, coupled with its natural origin, has made it a sought-after ingredient in the food industry. Hence, rising production and consumption of food products like confectioneries, bakery items, and beverages will likely uplift beet sugar demand.

Another key factor expected to foster market growth is the rising demand for natural sugar alternatives. Similarly, the trend of clean-label products will benefit the global beet sugar industry.

Top players are focusing on increasing their production capacities to meet growing consumer demand. They are also making substantial investments in new processing equipment and acreage expansion.

Key Takeaways from the Report-

  • The global market for beet sugar is expected to reach a valuation of US$ 7.8 billion by 2034.

  • By applications, the bakery products segment is set to hold a market share of 25.5% in 2034

  • Based on form, the granulated sugar segment is projected to account for a value share of 45.6% in 2024.

  • By nature, the conventional beet sugar segment is estimated to hold a market share of 70.0% in 2024.

  • India is expected to register a CAGR of 6.2% from 2024 to 2034.

  • Sales in the United States are projected to total US$ 2.7 billion by 2034.