Rising cases of chronic ailments have been encouraging consumers to adopt healthy eating. There is higher focus towards preventive healthcare, which is expected to fuel the demand for plant-based ingredients such as beet pulp. According to a study by Future Market Insights (FMI), the beet pulp sales are poised to surge considerably in the coming years. The market is expected to surpass US$ 2.5 Bn valuation in 2021.
The demand for dried pulp is expected to be the highest. It is likely to account for over 70% of beet pulps sold. East in transportation and lesser threat of damage or contamination will continue fuelling demand in this category.
Beet pulp is not only rich in nutrients, minerals, and vitamins but is also rich in unique phyto-constituents, which have numerous medicinal properties. It is anti-oxidant, anti-microbial, anti-depressant, anti-fungal, diuretic, anti- inflammatory, expectorant, and carminative, making it “superfood” for today’s generation.
Beet pulp also is a rich source of nitrates and sugar content making it an energy dispenser for consumers. The increasing health and wellness consciousness among the customers is drastically leading to an increasing penetration of beet pulp in end user applications.
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Key Takeaways from Beet Pulp Market Report
- The demand for beet pulp is expected to rise consistently, enabling the market register 5.9% CAGR between 2021 and 2031
- Popularity of plant-based ingredients will drive sales in U.S., enabling it to account for over 88% of beet pulp sold in North America in 2021
- The U.K. market will register a steady 2.5% y-o-y growth in 2021
- Increasing veganism trend will support growth in France and Germany
- Government initiatives undertaken to boost public health will support growth in China, followed by Japan and South Korea
“Livestock owners nowadays have become well aware about the livestock feeds they buy and the nutritional benefits it offers. Nutrition is an important factor in recent times and sales of products failing to qualify consumer expectation often get negatively affected. Thus, the manufacturers of livestock feed have started incorporating high nutritional value in their products. For this purpose, they have started deriving nutrition from sources such as plants to increase the nutritional content of livestock feed, this will boost the beet pulp market” said a lead analyst at FMI
Rise in Livestock Ownership Drives the Beet Pulp Market
The primary driver of the beet pulp market is the increasing number of livestock ownership. The increasing adoption of cows and horses as companion for families is driving the beet pulp market.
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Suppertime is the happiest time for livestock, and every livestock owner strives to feed their animals a healthy, flavourful meal. Social comfort, protection, and companionship that animals provide are key factors encouraging them to raise animals. As a result the growing number of livestock owners, in turn fuelling the demand for livestock feed.
Furthermore, a number of businesses are focusing on developing new flavours for their products. The majority of animal feeds contain wheat, corn, and soy, which are combined with animal fats to give it a meaty flavour. Furthermore, safety regulations placed on livestock feed could contribute to an increase in demand for beet pulp market during the forecast period.
Who is winning?
Some of the key players operating in beet pulp market Amalgamated Sugar, Michigan Sugar, Midwest Agri, Tereos, British Sugar, Nordzucker, Ontario Dehy Inc., American Crystal Sugar, Delta Sugar Company and many others. Key players of beet pulp are building strategies that will make their production line more efficient in order to get more output.
- For instance, Delta sugar company, which is leading manufacturer of in beet pulp market, has focused on effective and efficient production process that produces ±140.000 tons of beet pulp. This Company exports to markets in Europe and in the domestic market.
Get Valuable Insights into Beet Pulp Market
Future Market Insights, in its new report, presents an unbiased analysis of the global beet pulp market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights into growth witnessed in the market. Based on the beet pulp market on basis of Product Type, has been classified as wet pulp, pressed pulp, dried pulp, ensiled pulp. Based on Sales Channel beet pulp market are classified as Direct Sales, Modern Trade, Specialty Store, Departmental Store, Convenience Store, Online Retailers, Other Retail Formats. Based on category type beet pulp market is classified as Molassed, Unmolassed. Based on livestock type beet pulp market is classified as Cow, Horse, Sheep, Goat, Pig, Buffaloes, Mules, Asses. Regionally, beet pulp covers North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA.