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Beetroot Powder Market Size
Beetroot Powder Market was valued at USD 476.24 million in 2023 and is estimated to expand at a CAGR of over 4.8% between 2024 and 2032. Increased awareness about health and wellness among consumers has led to a demand for natural and functional ingredients. Beetroot powder is rich in antioxidants, vitamins, minerals, and dietary nitrates, which are associated with various health benefits, including improved cardiovascular health, reduced blood pressure, and enhanced exercise performance.
Beetroot powder is used as a natural colorant in food and beverage products. As consumers seek natural alternatives to synthetic colorants, beetroot powder provides an attractive option for creating visually appealing and healthier products.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 476.2 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.8% |
| 2032 Value Projection: | USD 720.6 Million |
| Historical Data for: | 2018 to 2023 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 191 |
| Segments covered: | Type, Application, Distribution Channel, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The production of beetroot powder is dependent on a steady supply of quality raw beetroots. Maintaining consistent quality and color in beetroot powder can be challenging due to variations in beetroot crops and processing methods. Fluctuations in the prices of raw beetroots and other production inputs can impact the cost of producing beetroot powder.
COVID-19 Impact
Changes in consumer behavior, uncertainty about the future, and economic challenges might have influenced consumer spending patterns. This could have led to fluctuations in the demand for products containing beetroot powder, such as food, beverages, and supplements. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is set to drive the market growth.
Beetroot Powder Market Trends
Consumers are increasingly seeking functional foods and ingredients that offer health benefits. Beetroot powder's natural richness in antioxidants, vitamins, and minerals, as well as its potential to support cardiovascular health and exercise performance, aligns well with this trend. The demand for natural colorants in food and beverages is driving the use of beetroot powder as a coloring agent. As consumers prioritize clean labels and seek out products with recognizable ingredients, the use of beetroot powder as a natural colorant is on the rise.
Beetroot Powder Market Analysis
The beetroot powder market from organic segment dominated around USD 251.3 million revenue in 2022. Organic beetroot powder appeals to health-conscious consumers who prioritize products free from synthetic pesticides and chemicals.
Food and Beverage segment accounted for 36% of the beetroot powder market share in 2022. The demand for natural and clean label colorants in food and beverages drives the use of beetroot powder to impart vibrant red hues without relying on synthetic dyes.
The beetroot powder market from online retail segment is anticipated to grow at 4.5% CAGR through 2032. Online retail provides consumers with the convenience of purchasing beetroot powder from the comfort of their homes, contributing to its popularity.
U.S. beetroot powder market size held over USD 92.8 million in 2022. The emphasis on health and wellness in North America drives the demand for functional foods and ingredients like beetroot powder, known for its potential cardiovascular benefits and nutrient content.
Beetroot Powder Market Share
Some of the major companies operating in the beetroot powder industry are
- Nature's Way Products LLC
- NutriCargo LLC
- Super Sprout LLC
- BioNutra Ingredients LLC
- Organic Herb Inc.
- Pure Naturals
- Radiant Whole Food
- Earth Notions Inc.
- Diana Food
- Aryan International
- Marudhar Foods Private Limited
- BioGin Biochemicals Co., Ltd.
- SaludViva
- Vital Health Foods
- Food to Live
These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Beetroot Powder Industry News:
- In 2023, Nature's Way introduced Beet Root Powder in February, which supports antioxidant pathways and free radical scavenging activity.
This beetroot powder market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:
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Market, By Type
- Organic
- Conventional
Market, By Application
- Food and Beverage
- Nutraceuticals and Dietary Supplements
- Cosmetics and Personal Care
- Others
Market, By Distribution Channel
- Online Retail
- Supermarkets/Hypermarkets
- Specialty Stores
- Health Food Stores
- Convenience Stores
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
Frequently Asked Questions (FAQ) :