Sugar beet is a plant, from which sugar in large proportions are obtained. This apparently implies that, the content of sucrose in sugar beet plant is very high and is commercialized for sugar production. As of 2013, Russia, France, the United States, Germany and Turkey were the highest producers of sugar beet. However, there have been constant fluctuations in the production market due to various climatic and geographical modifications. This has relatively, reduced the market growth in specific regions; however the overall market growth rate has not dwindled to a great extent whatsoever. And evidently, twenty percent of worlds total sugar production in 2009 was actually contributed by sugar beet factories worldwide. Russia, has dominated the sugar beet production market for quite a long period. Sugar beets have been utilized for various other purposes as well.
Market value of beet sugar:
The Global Market Value Of Sugar Beet Market has increased manifold in the recent years. This is heavily driven by the increased number of sugar beet factories in the market worldwide. Market analysts have revealed that the revenue yield is reportedly said to reach a new peripheral, by the end of 2022 with a high Cumulative Average Growth Rate (CAGR) percent. The usage of sugar in various food recipes has a high drive potential for the production of sugar beets. The cost efficiency factor of sugar beets has put them in the lead position amongst other sources of sugar production; however due to varying atmospheric conditions, the cultivation rate has fallen off and hence the reduction in production and market value. In countries like Czech Republic and Slovakia, sugar beets are used for the production of a rum variety called tuzemak. The desugared molasses procured from sugar beets have been employed in anti-icing products. It is also used to treat the salt spreads on the roads. Sugar beets can also be used to convert solar energy to a usable form. The major restraint in the market includes the agricultural background. Sugar beet plants are prone to a condition called rhizomania that could render them economically not processable. It is also vulnerable to beat leaf curl virus, that effectively causes crumple to the leaves.The various sectors involved in the sugar beet market include cereal, bakery, ice-cream, confectionery, beverage and dairy industry; however market analysts have predicted the dominance of beverage industry in the impending years.
The increasing population rate, urbanization, issues pertaining to health, new competitors in the market and increase in disposable income could heavily drive the market growth rate and alter the market trend.
The overall growth for the sugar beet market is a curve of definite forward fashion and could potentially grow to a great extent in the upcoming years.