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.
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.
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 Region and Country:
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
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:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, End-Use, Region, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
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In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.5%.
One of the drivers of the global beetroot market is the trend of using beetroot powder to flavor burgers and pizzas
Major global Beetroot Powder Market players 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
The high cost of the beetroot powder may restrict the market growth over the forecast period
Asia Pacific Region is expected to account for the largest market revenue share in the Global Beetroot Powder market.
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