Northern America: Sugar Beet Market 2024

Sugar Beet Market Size in Northern America

In 2022, after two years of growth, there was decline in the North American sugar beet market, when its value decreased by X% to $X. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Sugar Beet Production in Northern America

In value terms, sugar beet production expanded notably to $X in 2022 estimated in export price. Overall, production recorded a slight decline. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The country with the largest volume of sugar beet production was the United States (X tons), comprising approx. X% of total volume. Moreover, sugar beet production in the United States exceeded the figures recorded by the second-largest producer, Canada (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States was relatively modest.

The average sugar beet yield shrank to X tons per ha in 2022, with a decrease of X% against the previous year's figure. Over the period under review, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. The level of yield peaked at X tons per ha in 2021, and then shrank in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sugar beet harvested area rose slightly to X ha in 2022, surging by X% against the previous year. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Sugar Beet Exports

Exports in Northern America

After two years of growth, overseas shipments of sugar beet decreased by X% to X tons in 2022. In general, exports saw a sharp setback. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sugar beet exports expanded markedly to $X in 2022. Over the period under review, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States represented the main exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by Canada (X tons), constituting a X% share of total exports.

The United States was also the fastest-growing in terms of the sugar beet exports, with a CAGR of X% from 2012 to 2022. Canada (X%) illustrated a downward trend over the same period. The United States (X p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Canada ($X) remains the largest sugar beet supplier in Northern America, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Canada totaled X%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 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 Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Sugar Beet Imports

Imports in Northern America

In 2022, the amount of sugar beet imported in Northern America dropped sharply to X tons, reducing by X% on the previous year. In general, imports continue to indicate a dramatic curtailment. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar beet imports shrank rapidly to $X in 2022. Overall, imports saw a significant curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United States dominates imports structure, amounting to X tons, which was near X% of total imports in 2022. Canada (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sugar beet imports into the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Canada increased by X percentage points.

In value terms, Canada ($X) constitutes the largest market for imported sugar beet in Northern America, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

In Canada, sugar beet imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, increasing by X% against the previous year. Overall, the import price, however, faced a abrupt downturn. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

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