Beet Pulp Pellets Market Growth, Size, Share, Demand, Trends and Forecasts to 2028
The global beet pulp pellets market is set to gain impetus from the surging demand for shredded pulp from the horse feed industry and pet owners. This is happening because the addition of molasses shreds makes it more desirable and sweeter to older or active horses. It also helps in keeping their weight under control. This information is published by Fortune Business Insights™ in a report, titled, “Beet Pulp Pellets Market, 2021 – 2028.” As per the report, the market size stood at USD 142.0 million in 2020. It is projected to grow from USD 146.6 million in 2021 to USD 185.8 million by 2028 at a CAGR of 3.4% during the forecast period.
COVID-19 Pandemic: Travel Restrictions Have Delayed Imports of Animal Feed
The COVID-19 pandemic has affected a wide range of industries globally. Most of the companies have either shut down their manufacturing facilities or have reduced workforces to prevent transmission of the coronavirus. Some of the others are facing supply chain disruptions and transportation issues. The Australian government’s Department of Agriculture, Water, and the Environment, for instance, declared in March 2020 that the pandemic-induced travel restrictions have resulted in delays associated with the import permit functions of plant-based stock feed. This includes sugar beet pulp pellets, corn gluten meal, soybean meal, alfalfa meal, sunflower meal, potato starch, and others.
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List of renowned manufacturers of beet pulp pellets operating in the global market:
- Nordik Sugar (Copenhagen, Denmark)
- Trouw Nutrition Canada Inc (Okotoks, Canada)
- Midwest-Agri-Commodities (California, US)
- LaBudde Group Inc. (Cedarburg, US)
- Jelle de Vries BV (Friesland, Netherlands)
- InterFeed BV (Etten-Leur, Netherlands)
- Pestel Nutrition (Ontario, Canada)
- Michigan Sugar Company (Michigan, United States)
- Sucden (Paris, France)
- Amalgamated Sugar Company (Idaho, United States)
Molasses-based Segment to Hold Largest Share Backed by High Nutritious Value
By form, the market is bifurcated into plain and molasses-based beet pulp pellets. Out of these, the molasses-based segment is anticipated to generate the largest beet pulp pellets market share in the near future. They are extensively used as an alternative in dairy, equine, and animal feed. Also, they have high nutritious value.
Our detailed research reports offer comprehensive coverage of the focus industry, ensuring a deep and holistic understanding of the market. It also provides granular and actionable data. We strive to ensure that you receive the best strategies for increasing sales of these pulp pellets. Our key mission is service orientation. We also conduct extensive primary and secondary research to help you track the latest innovations, regulatory developments, and competitive landscape.
Drivers & Restraints-
Increasing Demand from Animal Husbandry Sector to Bolster Growth
The animal husbandry sector is the largest user of beet pulp pellets as they are used in feeding various animals, especially horses. These pellets are often mixed with other food items or are given directly to animals. They are rich in vitamins and proteins. They are used on the animals’ daily diet by livestock owners. However, if stored improperly, these pellets can get contaminated as they are prone to mold infections. This factor may hamper the beet pulp pellets market growth in the upcoming years.
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Asia Pacific Stood at USD 53.96 Million in 2020: Fortune Business Insights™
In 2020, Asia Pacific procured USD 53.96 million in terms of revenue. It remained at the forefront the same year because of the increasing usage of these pellets in equine and animal feed. In developing countries, such as India and China, the expansion of the dairy sector is set to aid growth. On the other hand, Europe is likely to hold the second-largest share in the forthcoming years on account of the rising shift of cattle owners towards beet pulp pellets in Spain, Italy, France, and Germany.
Key Players Focus on Keeping up with Government Norms to Intensify Competition
The global market houses a few companies that are presently striving to gain a competitive edge by keeping up with all the norms implemented by regulatory bodies. A few others are participating in expanding their distribution networks to compete in this market.
Below is one of the latest industry developments:
- January 2021: The European Union imposed 25% tariffs on the Irish feed industry and undermined its profitability. The longstanding Boeing-Airbus dispute has made the EU take thisdecision for the U.S. beet pulp and molasses sector.
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