IndexBox has just published a new report: ‘World – Sugar Beet – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global sugar beet market stood at $657.6B in 2019, with an increase of 2.1% against the previous year. World consumption indicated a notable expansion from 2009 to 2019: its value increased at an average annual rate of +2.1% over the last decade. The trend line, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2011 when the market value increased by 52% y-o-y. Over the period under review, the global market reached a maximum level of $805.2B in 2017; however, from 2018 to 2019, consumption failed to regain the momentum. Based on 2019 figures, consumption decreased by -18.3% against 2017 indices.

Consumption by Country

The countries with the highest volumes of sugar beet consumption in 2019 were Russia (44M tonnes), France (40M tonnes), and the U.S. (30M tonnes), with a combined 42% share of global consumption. These countries were followed by Germany, Turkey, Poland, Ukraine, China, Egypt, the Netherlands, Belgium, and Belarus, which together accounted for a further 42%.

From 2009 to 2019, the biggest increases were in Egypt, while sugar beet consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($340.4B) led the market, alone. The second position in the ranking was occupied by the U.S. ($151.2B). It was followed by Turkey.

The countries with the highest levels of sugar beet per capita consumption in 2019 were France (612 kg per person), Belarus (521 kg per person), and Belgium (432 kg per person).

Market Forecast to 2030

Driven by increasing demand for sugar beet worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2019 to 2030, which is projected to bring the market volume to 332M tonnes by the end of 2030.

Sugar Beet Production

In 2019, global production of sugar beet totaled 271M tonnes, approximately equating 2018. The total output volume increased at an average annual rate of +2.2% over the period from 2009 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2011 with an increase of 22% against the previous year. Over the period under review, global production attained the maximum volume at 299M tonnes in 2017; however, from 2018 to 2019, production stood at a somewhat lower figure. The generally positive trend in terms output was largely conditioned by a pronounced increase of the harvested area and modest growth in yield figures.

Production by Country

The countries with the highest volumes of sugar beet production in 2019 were Russia (44M tonnes), France (40M tonnes), and the U.S. (30M tonnes), with a combined 42% share of global production. These countries were followed by Germany, Turkey, Poland, Ukraine, China, Egypt, the Netherlands, Belgium, and Belarus, which together accounted for a further 42%.

From 2009 to 2019, the biggest increases were in Egypt, while sugar beet production for the other global leaders experienced more modest paces of growth.

Harvested Area

In 2019, the global harvested area of sugar beet shrank slightly to 4.7M ha, standing approx. at 2018 figures. The harvested area increased at an average annual rate of +1.2% from 2009 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2010 with an increase of 9.5% y-o-y. The global harvested area peaked at 5M ha in 2011; however, from 2012 to 2019, the harvested area stood at a somewhat lower figure.

Yield

In 2019, the global average yield of sugar beet stood at 58 tonnes per ha, picking up by 1.6% against the previous year’s figure. In general, the yield saw a mild increase. The growth pace was the most rapid in 2011 with an increase of 12% year-to-year. Over the period under review, the average sugar beet yield hit record highs at 62 tonne per ha in 2017; however, from 2018 to 2019, the yield stood at a somewhat lower figure.

Exports

For the fourth year in a row, the global market recorded growth in overseas shipments of sugar beet, which increased by 42% to 503K tonnes in 2019.

In value terms, sugar beet exports rose sharply to $50M (IndexBox estimates) in 2019. Over the period under review, exports saw a noticeable shrinkage. The growth pace was the most rapid in 2011 with an increase of 34% against the previous year. Global exports peaked at $91M in 2012; however, from 2013 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Germany ($16M) remains the largest sugar beet supplier worldwide, comprising 32% of global exports. The second position in the ranking was occupied by the Netherlands ($6.9M), with a 14% share of global exports. It was followed by Belgium, with a 6.3% share.

In Germany, sugar beet exports expanded at an average annual rate of +12.8% over the period from 2009-2019. In other countries, the average annual rates were as follows: the Netherlands (-7.1% per year) and Belgium (+106.1% per year).

Source: IndexBox AI Platform