The global beet pulp pellets market was valued at USD 142.0 million in 2020 and is projected to increase from USD 146.6 million in 2021 to USD 185.8 million by 2028, reflecting a compound annual growth rate (CAGR) of 3.4% over the forecast period. In 2020, Asia Pacific led the market with a 38% share.
The market is benefiting from the growing consumption of beet pulp pellets by end-users and a steady rise in sugar beet production across several regions. However, the market witnessed a slower growth rate of 3.24% in 2020 compared to the average annual growth observed between 2017 and 2019.
What Are Beet Pulp Pellets?
Beet pulp is the fibrous residue remaining after extracting sugar and moisture from sugar beets. This residue is mechanically pressed, dried, and processed into pellets with a standard diameter of 5/16 inches (8mm). These pellets are widely recognized as a healthy and efficient animal feed option and are produced and marketed by several companies across the globe.
Information Source: https://www.fortunebusinessinsights.com/beet-pulp-pellets-market-102256
Market Segmentation
Molasses-Based Pellets to Dominate Due to Nutritional Benefits
By form, the market is segmented into plain and molasses-based beet pulp pellets. Among these, molasses-based variants are expected to hold the largest market share. Their widespread application in dairy, equine, and general animal feed, combined with their higher nutritional content, makes them a preferred choice for livestock nutrition.
Report Scope
Our research offers a thorough examination of the beet pulp pellets industry, delivering deep insights into market trends, developments, and potential growth areas. The report includes detailed primary and secondary research, regulatory updates, competitive analysis, and actionable strategies to help stakeholders boost product sales and stay ahead in the market.
Market Drivers and Challenges
Growing Use in Livestock Diets to Support Market Expansion
The livestock and animal husbandry industries are the primary consumers of beet pulp pellets, particularly for feeding horses and cattle. These pellets are rich in fiber, vitamins, and proteins, making them an essential addition to daily animal diets. However, improper storage can result in mold contamination, which may limit product shelf life and impact market growth over time.
Regional Insights
Asia Pacific Leading the Market; Europe to Follow
Asia Pacific generated USD 53.96 million in revenue in 2020 and remained the top regional market. The region's leadership is attributed to increasing demand for beet pulp pellets in livestock feed and equine applications, particularly in emerging economies like India and China, where the dairy industry is expanding rapidly.
Europe is projected to secure the second-largest share in the near future. This is driven by a growing trend among cattle farmers in countries such as France, Germany, Spain, and Italy to adopt beet pulp pellets as a feed option.
Competitive Landscape
Regulatory Compliance and Network Expansion Key Focus for Market Players
A limited number of players operate in the global beet pulp pellets market, and competition is intensifying as these companies aim to strengthen their market presence. Many are working to align their operations with evolving government regulations, while others are expanding distribution capabilities to reach wider markets.
Key Companies in the Global Beet Pulp Pellets Market:
- Nordik Sugar (Copenhagen, Denmark)
- Trouw Nutrition Canada Inc. (Okotoks, Canada)
- Midwest-Agri-Commodities (California, U.S.)
- LaBudde Group Inc. (Cedarburg, U.S.)
- Jelle de Vries BV (Friesland, Netherlands)
- InterFeed BV (Etten-Leur, Netherlands)
- Pestel Nutrition (Ontario, Canada)
- Michigan Sugar Company (Michigan, U.S.)
- Sucden (Paris, France)
- Amalgamated Sugar Company (Idaho, U.S.)
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Recent Development:
- January 2021: The European Union imposed a 25% tariff on the Irish feed industry due to the ongoing Boeing-Airbus trade dispute. This measure directly affected the import of beet pulp and molasses products from the United States, impacting market dynamics in the region.
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