Beetroot Powder Market

Beetroot Powder Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Beetroot Powder Market grew at a CAGR of 5.2% between 2017-2021 and is estimated to be US$ 412.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.5% and is expected to reach a valuation of US$ 704.3 Mn by 2032 end.

The taproot of the beet plant is known as beetroot and goes by several names, including table beet, red beet, garden beet, and golden beet. Beetroot can be used as a sweetening substitute because it contains more sugar than other vegetables. Dried beetroots are ground or milled to create beetroot powder. Many different goods both flavor and are colored with beetroot powder.

The betaine phytochemical found in beetroot is essential for the health of the cardiovascular system and helps the liver and kidneys digest amino acids. Beetroot powder contains various nutrients, including potassium, phosphorus, chlorine, iodine, iron, magnesium, calcium, copper, sodium, riboflavin, thiamine, fiber, and vitamins. Because it contains a lot of antioxidants, beetroot powder is used as a supplement.

Market Dynamic

TREND OF USING BEETROOT POWDER TO FLAVOR BURGERS AND PIZZAS WILL DRIVE THE MARKET

The growing popularity of utilizing beetroot powder to flavor pizza and hamburgers is one of the factors driving the worldwide beet industry. Beetroot powder is booming in the beauty business worldwide thanks to the rising use of beetroot powder in cosmetics due to its higher antioxidant content. Beetroot powder has a somewhat fragmented market across the world.

The fact that there are numerous active players demonstrates how fiercely competitive the beetroot powder business is. Several market vendors are working to improve the caliber of their wares. Beetroot powder demand is also rising significantly due to its use in cosmetics and personal care products. This element encourages market growth. These elements are therefore anticipated to drive the market.

HIGH COST OF THE BEETROOT POWDER HAMPER THE MARKET

The high cost of beetroot powder may restrict the market growth over the forecast period.

Covid-19 Impact

Global food systems, livelihoods, and diets have all been significantly disrupted in the wake of the coronavirus epidemic. Customer satisfaction has decreased over the past several months due to the temporary closure of supermarkets and other retail establishments to stop the spread of disease. According to statistics from the American Customer Happiness Index, customer satisfaction has decreased at over 75% of major merchants in supermarkets and other markets, which has recently hampered the sales of goods containing beetroot powder.

However, the advantages of beetroot smoothie for vasodilation, blood flow, and optimum oxygenation of the lungs are becoming more widely known. It has a strong anti-inflammatory effect and can naturally lower blood pressure in beverages. The COVID-19 epidemic places a high priority on maintaining customers’ heart and lung health. Therefore, the beetroot powder market is projected to gain ground over the following years gradually.

Market Segments Covered in Report

By Type:

• Organic
• Conventional

By End-Use:

• Ingredient
• Packed food

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which segments dominate the global beetroot powder market?

The organic beetroot powder product type is anticipated to have a sufficiently high opportunity during the forecast period. During the forecast period, the market for organic beetroot powder is expected to increase at a CAGR of 6.1%.  The conventional beetroot powder market is anticipated to grow in volume at a CAGR of 5.6% throughout the forecast period.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of 36.1%, China, Japan, and India are projected to rule the current Asia Pacific powder market. By 2032, this market share is expected to rise significantly. Key factors in regional product growth include raising consumer perceptions of a healthy lifestyle and increasing sports participation to enhance sports performance.
• One of the attractive regions with significant demand potential in the market for beetroot powder in North America. Natural food coloring ants have been increasingly in demand in the region from the food and beverage industry in recent years.

Competition Analysis

To gauge the interest of potential customers and build a larger clientele, manufacturers are utilizing various marketing methods, including new product releases, geographic growth, mergers and acquisitions, partnerships, and collaboration.

Some of the key developments that have taken place in the Beetroot Powder Market include the following:

• In June 2013, Pune, Maharashtra, where Yesraj Agro Exports Private Limited was established. Dehydrated beetroot powder has just recently been released on this market.

A list of some of the key suppliers present in the market are:

• Yesraj Agro Exports Pvt. Ltd
• Bioglan
• Nature’s Way Products LLC
• Super Sprout LLC & Juices International Pty Ltd.
• NutraMarks Inc.
• Radiance Ltd.
• Go Superfood
• Natures Aid Ltd.
• Botanical Ingredients Ltd

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.