Sugar Beet Market

The global sugar beet market is expected to experience growth in consumption and value terms from 2022 to 2030, with a forecasted CAGR of +1.9% and +3.3% respectively. Consumption peaked in 2017 at 297M tons but declined to 254M tons in 2022. Production also saw a decline, reducing to 254M tons in 2022. Countries like Russia, France, and the United States dominate consumption and production. Imports and exports are also on the rise, with Germany being the main exporter and Switzerland leading in imports. Overall, the market is expected to see growth, albeit with fluctuations in prices and trade volumes.

Market Forecast

Driven by rising demand for sugar beet worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 295M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $849.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sugar Beet

Global sugar beet consumption declined slightly to 254M tons in 2022, with a decrease of -3.3% compared with the previous year's figure. Overall, consumption continues to indicate a relatively flat trend pattern. Global consumption peaked at 297M tons in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

The global sugar beet market size stood at $655B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a abrupt decline. As a result, consumption reached the peak level of $1,295.5B. From 2019 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (49M tons), France (31M tons) and the United States (30M tons), with a combined 43% share of global consumption. Germany, Turkey, Poland, Egypt, Ukraine, China, the UK, Iran, Belgium and the Czech Republic lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +4.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($255.5B) led the market, alone. The second position in the ranking was held by Ukraine ($64.2B). It was followed by Turkey.

In Russia, the sugar beet market remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ukraine (-6.1% per year) and Turkey (+2.2% per year).

The countries with the highest levels of sugar beet per capita consumption in 2022 were France (465 kg per person), the Czech Republic (408 kg per person) and Belgium (399 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Egypt (with a CAGR of +1.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sugar Beet

Global sugar beet production reduced slightly to 254M tons in 2022, waning by -3.4% against 2021 figures. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 15% against the previous year. Global production peaked at 297M tons in 2017; however, from 2018 to 2022, production remained at a lower figure. The general negative trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and slight growth in yield figures.

In value terms, sugar beet production soared to $139.4B in 2022 estimated in export price. Overall, production continues to indicate a dramatic decline. The pace of growth was the most pronounced in 2015 when the production volume increased by 271%. Over the period under review, global production reached the peak level at $2,824B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Russia (49M tons), France (31M tons) and the United States (30M tons), together comprising 43% of global production. Germany, Turkey, Poland, Egypt, Ukraine, China, the UK, Iran, Belgium and Belarus lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Egypt (with a CAGR of +4.0%), while production for the other global leaders experienced more modest paces of growth.

Yield

The global average sugar beet yield reached 60 tons per ha in 2022, leveling off at the previous year. Over the period under review, the yield showed a mild increase. The most prominent rate of growth was recorded in 2016 with an increase of 8.7%. The global yield peaked at 61 tons per ha in 2017; however, from 2018 to 2022, the yield remained at a lower figure.

Harvested Area

In 2022, approx. 4.2M ha of sugar beet were harvested worldwide; falling by -4.8% against 2021. Overall, the harvested area showed a slight shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 7.7% against the previous year. As a result, the harvested area reached the peak level of 4.9M ha. From 2018 to 2022, the growth of the global sugar beet harvested area remained at a somewhat lower figure.

Imports

World Imports of Sugar Beet

For the fifth year in a row, the global market recorded growth in purchases abroad of sugar beet, which increased by 12% to 956K tons in 2022. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.0% against 2015 indices. The pace of growth appeared the most rapid in 2014 with an increase of 45%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, sugar beet imports totaled $77M in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 23% against the previous year. Global imports peaked at $84M in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

Switzerland (361K tons) and the Czech Republic (322K tons) dominates imports structure, together generating 71% of total imports. It was distantly followed by Croatia (81K tons) and Germany (65K tons), together comprising a 15% share of total imports. Lithuania (38K tons), Denmark (32K tons) and Hungary (29K tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +204.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Switzerland ($26M), the Czech Republic ($14M) and Denmark ($10M) constituted the countries with the highest levels of imports in 2022, together accounting for 65% of global imports.

Among the main importing countries, Denmark, with a CAGR of +133.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average sugar beet import price stood at $80 per ton in 2022, falling by -1.8% against the previous year. Over the period under review, the import price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 14%. Over the period under review, average import prices hit record highs at $116 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Denmark ($314 per ton), while Germany ($29 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (-4.3%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Sugar Beet

In 2022, overseas shipments of sugar beet decreased by -16.2% to 819K tons for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 36%. Over the period under review, the global exports reached the maximum at 977K tons in 2021, and then dropped markedly in the following year.

In value terms, sugar beet exports skyrocketed to $70M in 2022. Over the period under review, exports saw a relatively flat trend pattern. The global exports peaked at $77M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, Germany (418K tons) represented the main exporter of sugar beet, committing 51% of total exports. It was distantly followed by Belgium (119K tons), Slovakia (107K tons) and Hungary (75K tons), together achieving a 37% share of total exports. Poland (27K tons), the Netherlands (20K tons) and Lithuania (18K tons) followed a long way behind the leaders.

Exports from Germany increased at an average annual rate of +24.6% from 2012 to 2022. At the same time, Poland (+78.3%), Lithuania (+63.5%), Slovakia (+12.2%) and Belgium (+10.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +78.3% from 2012-2022. By contrast, Hungary (-4.2%) and the Netherlands (-14.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Germany, Belgium, Slovakia, Poland and Lithuania increased by +45, +8.8, +8.6, +3.3 and +2.2 percentage points, respectively.

In value terms, Germany ($22M) remains the largest sugar beet supplier worldwide, comprising 31% of global exports. The second position in the ranking was held by Slovakia ($6.9M), with a 9.8% share of global exports. It was followed by Belgium, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at +19.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Slovakia (+14.9% per year) and Belgium (+10.9% per year).

Export Prices By Country

In 2022, the average sugar beet export price amounted to $86 per ton, jumping by 57% against the previous year. Overall, the export price, however, saw a mild setback. The global export price peaked at $100 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($282 per ton), while Hungary ($35 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform