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The Global Beetroot Powder Market Size is valued at 483.79 million in 2023 and is predicted to reach 830.30 million by the year 2031 at an 7.23% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the report:
- Related to spinach and Swiss chard, beetroots are used to manufacture the dietary supplement known as beetroot powder. Beetroot has been used for millennia in herbal treatments and is often used as a red meat alternative due to its high vitamin content.
- The growing health and wellness trends fueled by nutrient-rich beetroot is expected to drive industry growth.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- One of the significant concerns restraining industry growth is the sensitivity to processing conditions impacting color stability.
Beetroots, which are related to spinach and Swiss chard, are used to make beetroot powder, a dietary supplement. Because of its high nutrient content, beetroot is frequently used as a red meat substitute and has been utilized in herbal medicines for millennia. The expansion can be ascribed to the rise in interest in natural food products that don't include artificial pesticides or fertilizers.
Organic beetroot consumption has increased as a result of rising health consciousness around the world. The usage of beetroot powder in numerous industrial products, including paints, dyes, chemicals used in paper production, etc., will increase the market's size over the coming years. Beetroot powder is increasingly utilized in numerous industrial applications due to the rising demand for food products free of artificial chemicals. Nitrates, abundant in beetroot, have been demonstrated to lower blood pressure and enhance the performance of the blood arteries that provide oxygen to the muscles during exercise.
Additionally, beetroots are a good dietary fiber, copper, manganese, potassium, and folate source. Due to their easy availability at lower prices than other vegetables, such as potatoes, which are currently experiencing stagnant production levels, the global market for beetroot powders is projected to witness major growth with increasing consumption rates in countries like India and China.
Recent Developments:
- In November 2020, AS-IT-IS introduced its brand-new product, beetroot powder. It has no chemicals and is entirely natural. Immunity, memory, and vitality are all improved.
Competitive Landscape:
Some major key players in the beetroot powder market are:
- Nature's Way
- Bioglan
- Yesraj Agro Exports
- Super Sprout
- Cultivator Natural Products
- Natures Aid
- Venkatesh Naturals
- NutraMarks
- Go Superfood
- Botanical Ingredients Ltd
Market Segmentation:
The beetroot powder market is segmented on the type, distribution channel, application and end-use industry. Based on type, the market is segmented into conventional and organic. Based on the distribution channel, beetroot powder market is segmented into online sale, retail shops, departmental stores and supermarket/hypermarkets. Based on application, beetroot powder market is segmented into curries & gravies, food color, soups and coatings. Based on end-use industry, the beetroot powder market is segmented into food and beverage.
Based on type, the conventional segment is accounted as a major contributor to the beetroot powder market
The conventional category grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time attributable to the beetroot's varied uses in a variety of booming industries, including the food and beverage and cosmetics sectors. The largest market for beetroot powder is the food and beverage industry. Traditional beetroot powder can preserve food color or create vivid red hues for culinary applications. Additionally, many products, including ice cream, confectionery, and beverages, use this kind of substance as a coloring component.
The food segment witnessed growth at a rapid rate
The food category is anticipated to grow significantly over the forecast period. The market is anticipated to rise as a result of the usage of beetroot powder in a number of organic meals as well as in the flavoring of pizza and hamburgers. Beetroot powder is also a natural colorant and flavor enhancer in the culinary industry. Over the projected period, beetroot powder acceptance in the food market will rise due to the post-pandemic shift toward healthy foods. Due to the additional vitamin C boost that beetroot powder offers, it has recently been spotted in numerous chocolate bars marketed for youngsters. The percentage of utilization for this product varies depending on the type and size of the organization. Still, because of its excellent compatibility with other goods, we believe that it will continue to increase over time.
The North America beetroot powder market holds a significant revenue share in the region
The North America beetroot powder market is expected to register the highest market share in revenue in the near future due to rising demand for organic products, growing health consciousness, and spending on a healthy lifestyle. The market for food and beverages is expanding, which might speed up product growth as interest in synthetic colors grows along with the demand for natural food colors. In order to give meals like curries, smoothies, gravy, ketchup, pancakes, and red velvet cakes a red hue and help the local market flourish, beet powder is frequently utilized as a natural food coloring. In addition, the Asia Pacific is projected to grow at a rapid rate in the global beetroot powder market attributed to rising consumer demand for organic products and an increase in the number of organic food producers; for example, the Research Institute of Organic Agriculture FiBL reports that India continues to have the highest production, with 835200 producers. In addition, some sources claim that beetroot powder helps raise hemoglobin, which is crucial for sickle cell patients. Due to the high prevalence of sickle cell disease and other hemoglobin deficiencies in India, beetroot powder will be used more frequently in natural medicines throughout the course of the forecast period.
Beetroot Powder Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 484.79 million |
|
Revenue forecast in 2031 |
USD 830.30 million |
|
Growth rate CAGR |
CAGR of 7.23% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Type, Distribution Channel, Application And End-Use Industry |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Nature's Way, Bioglan, Yesraj Agro Exports, Super Sprout, Cultivator Natural Products, Natures Aid, Venkatesh Naturals, NutraMarks, Go Superfood and Botanical Ingredients Ltd. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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