Beet Pulp Pellets Market Size, Share, and Growth Trends by 2028

The global beet pulp pellets market is poised for growth, driven by rising demand for shredded pulp from the horse feed industry and pet owners. Molasses shreds enhance the appeal of beet pulp by adding sweetness, making it more palatable for older or active horses, while also aiding in weight management. According to Fortune Business Insights™, in the report titled Beet Pulp Pellets Market, 2021 – 2028, the market was valued at USD 142.0 million in 2020 and is anticipated to grow from USD 146.6 million in 2021 to USD 185.8 million by 2028, with a CAGR of 3.4% over the forecast period.

A 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)

Information Source: https://www.fortunebusinessinsights.com/beet-pulp-pellets-market-102256

Segments-

Molasses-based Segment to Hold Largest Share Backed by High Nutritious Value

The market is divided into two forms: plain and molasses-based beet pulp pellets. Among these, the molasses-based segment is expected to hold the largest market share in the near future due to its widespread use as a substitute in dairy, equine, and animal feed. Additionally, molasses-based pellets are favored for their high nutritional value.

Report Coverage-

Our in-depth research reports provide comprehensive coverage of the targeted industry, delivering a thorough and holistic market understanding with granular, actionable data. We are committed to equipping you with effective strategies to boost pulp pellet sales, with a primary mission centered on service excellence. Through extensive primary and secondary research, we help you stay informed about the latest innovations, regulatory changes, and competitive landscape.

Drivers & Restraints-

Increasing Demand from Animal Husbandry Sector to Bolster Growth

The animal husbandry sector is the primary consumer of beet pulp pellets, particularly for feeding horses and other livestock. These pellets are frequently combined with other feed items or provided directly to animals, as they are rich in vitamins and proteins and are an integral part of daily diets for livestock owners. However, improper storage can lead to contamination, as beet pulp pellets are susceptible to mold infections. This issue may hinder the growth of the beet pulp pellets market in the coming years.

Regional Insights-

Asia Pacific Stood at USD 53.96 Million in 2020: Fortune Business Insights™

In 2020, the Asia Pacific region generated USD 53.96 million in revenue, leading the market due to the growing use of beet pulp pellets in equine and animal feed. The expansion of the dairy sector in developing countries like India and China is expected to further drive this growth. Meanwhile, Europe is projected to secure the second-largest market share in the coming years, driven by an increasing trend among cattle owners in Spain, Italy, France, and Germany to adopt beet pulp pellets as a feed option.

Competitive Landscape-

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 this decision for the U.S. beet pulp and molasses sector.