The beet pulp market is anticipated to rise at a healthy rate of nearly 6% CAGR for the forecast period ranging from 2021 to 2031. The demand for beet pulp has been largely driven by widening scope of applications in multiple end use industries. Composite production, feedstock generation, ethanol production and food and beverage processing are key factors supporting the demand for beet pulp globally.
"High rates of sugar production as essential commodities in a number of countries globally is key to rising demand for beet pulp. An optimal nutrient profile including phosphorus, calcium, proteins, and roughage will support the profitability of the beet pulp industry in the long term," says the FMI study.
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Beet Pulp Market - Leading Takeaways
Molassed beet pulp will hold leading market share owing to high digestibility and health benefits suitable for ruminants.
Dried beet pulp reflects faster growth owing to longer shelf life, and convenience in storage suitable for multiple applications
France and UK are emerging as key markets for beet pulp owing to the rise of vegan populations in the European countries.
China reflects major growth opportunities backed by government efforts aimed towards reducing meat consumption within the country.
Beet Pulp Market - Growth Factors
High concentration of sugar volumes comparable to cane bolsters commercial viability of beet pulp sustaining market growth.
Health benefits from beet pulp consumption including kidney, liver, muscles, nerves, and pancreas support adoption in the pharmaceutical sector.
High energy concentration and effectiveness against colic is a key factor supporting use of beet pulp for equine nutrition feedstock.
Beet Pulp Market - Constraints
Lack of awareness about beet pulp as a viable animal nutrition source is a key factor limiting adoption in the sector.
High commodity costs of beet and availability of alternatives for sugar and feedstock production hurts market prospects.
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Expected Impact on Market by Coronavirus Outbreak
The impact of the coronavirus pandemic on the global beet pulp market has been largely negative. Lockdown restrictions on the movement of people have created issues in terms of manpower for beet cultivation and processing applications.
Recovery of the industry is expected to be gradual through 2021 and beyond as governments take efforts to restart economies, and relax strict regulatory requirements. Further, applications in paper, fuel, feedstock and food industries will aid in generating opportunities for revenue in the near future.
Major producers taking part in the beet pulp market include but are not limited to Delta Sugar Company, Amalgamated Sugar, American Crystal Sugar, Michigan Sugar, Ontario Dehy Inc., Midwest Agri, Nordzucker, Tereos, and British Sugar.
Leading players in the beet pulp market are investing in research and development initiatives in an effort to widen their portfolio with a wider range of applications in end use products and industries for long term revenue streams.
In October 2020, Crown Van Gelder announced its plan for large-scale paper production using sugar beet fibers, with sales starting in early 2021, aimed towards eco-friendly paper production processes. Researchers from the USDA have revealed biodegradable plastic sourced from biodegradable beet pulp for the production of food containers. Nutrena also launched an industry-exclusive equine performance Proforce and Rebound recovery feed technology aimed towards nutrition for active older horses, improving gastric and cardiac health.
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More on the Report
FMI's provides in-depth insights on the beet pulp market. The market is segmented in terms of product type (wet pulp, pressed pulp, dried pulp, and ensiled pulp), livestock type (cow, horse, sheep, goat, pig, buffaloes, mules, and asses), category type (molassed and unmolassed) and sales channel (direct sales, modern trade, specialty store, departmental store, convenience store, online retailers, and other retail formats) across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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Name: Abhishek Budholiya
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Organization: Future Market Insights
Release ID: 89003564