The global beetroot powder market size reached a valuation of USD 474.7 million in 2023. The expanding nutritional value and wide range of applications are projected to be the market's primary growth drivers. The overall sales of beetroot powder products are projected to grow at a robust CAGR of 4.6% between 2023 and 2033, totaling around USD 741.7 million by the end of 2033.
| Attributes | Details |
|---|---|
| Beetroot Powder Market Size (2023) | USD 474.7 million |
| Beetroot Powder Market Revenue Forecast (2033) | USD 741.7 million |
| Beetroot Powder Market Growth Rate (2023 to 2033) | 4.6% CAGR |
| North America Market Share | 33.6% |
Beetroot, also renowned as the table beet, red beet, garden beet, or golden beet, is a taproot of the beet plant. Because beetroot encompasses more sugar than other vegetables, it can be used as a sweetening alternative. Beetroot powder is obtained by grinding or milling dried beetroots. Beetroot powder is used to flavor and color a wide variety of products.
Beetroot formula includes betaine phytochemical, which is vital for cardiovascular system well-being and aids the liver and kidney in processing amino acids. Potassium, phosphorus, chlorine, iodine, iron, magnesium, calcium, copper, sodium, Riboflavin, Thiamine, fiber, and vitamins are all found in beetroot powder. Beetroot powder is used as a supplement because it is high in antioxidants.
Beetroot powder contains high levels of nitrates, potentially increasing the blood's oxygen concentration and relaxing veins. Beetroot powder has applications in the food industry because it can be used in pasta sauce, smoothies, muffins, juice, salad dressings, and so on.
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As per Future Market Insights, the global demand for Beetroot Powders is poised to expand at a healthy CAGR of 5.7% during the forecast period between 2022 and 2032, in comparison to the 3.9% CAGR registered from 2016 to 2021. Food industries are intensifying their consumption of beetroot powder since one tablespoon of beetroot powder contains the same nutrients as one beetroot. Its usage in the food industry as a flavoring agent and taste enhancer is becoming increasingly popular among young people as a consequence of increasing health concerns.
One of the global beetroot market drivers is the trend of using beetroot powder to flavor burgers and pizzas. The increased utilization of beetroot powder in cosmetics owing to its higher antioxidant content is cruising beetroot powder in the cosmetic industry globally. The global market for beetroot powder is modestly fragmented.
The presence of multiple active players indicates that the competitive landscape of the market for beetroot powder is incredibly intense. Several market vendors are striving to enhance the quality of their products. In addition, there is a notable increase in demand for beetroot powder from cosmetics and personal care products. This factor promotes market expansion. As a result, these factors are expected to propel the market.
The high cost of the beetroot powder may restrict the market growth over the forecast period.
Principal Consultant
The North American beetroot powder market is forecast to expand at a healthy 5.5% CAGR. North America is accounting for a market share of 33.6% of the global Beetroot Powder market.
North America, inevitably led by the beet powder industry sizes in Canada, Mexico, and the USA, are assumed to increase substantially over the forecast period. Product growth may be accelerated by increased demand for natural food colors and interest in synthetic colors in the food and beverage market.
Beet powder is extensively used as a natural food coloring in a wide range of foods such as curries, smoothies, gravy, ketchup, pancakes, and red velvet cakes, imparting a red color to develop domestic sales growth.
On the other hand, Western Europe's beetroot powder market is anticipated to accelerate at a CAGR of 5.7% during the forecast period. Europe is accounting for a market share of 27.2% of the global Beetroot Powder market.
The beetroot powder market size in Europe will keep expanding significantly by 2033, led by the United Kingdom, France, and Germany. As the phenomenon of personal care grows, so will the clamor for personal care products, resulting in a wider regional market. Beetroot powder sustains skin elasticity and firmness, creating a popular anti-aging cream and lotion with amazing antioxidant properties that drive local product demand in the European market.
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China, Japan, and India are likely to dominate the modern Asia-Pacific powder market, which is predicted to increase substantially by 2033. Increasing customer perception of a healthy lifestyle and increased sports activity to improve sports performance are key attributes in product regional growth.
One of the major market drivers for the market is Asia Pacific's vastly increased urbanization and disposable income growth. As a result, there is a greater demand for fast foods, which fuels market growth. Because of the high nutritional value of beetroot powder, more people are opting for it. Its usage in the cosmetic industry has grown in recent years due to its antioxidant properties in this region.
Over the forecast period, the organic beetroot powder product type is expected to show a sufficiently high opportunity. The organic beetroot powder market is anticipated to expand at a CAGR of 4.6% during the forecast period. In terms of volume, the conventional beetroot powder market is projected to increase at a CAGR of 4.48% during the forecast period.
The market for beetroot powder is divided into two segments: ingredient and packaged food. Beetroot powder is employed in the food industry to make soups, curries and gravies, coatings, and as a food color in a wide range of foods. Beetroot powder is in high demand in the industry because it is a natural source for use in the food industry.
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
Some of the leading Beetroot Powder device manufacturers include 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., AS-IT-IS, Botanical Ingredients Ltd.
These key Beetroot Powder providers are adopting various strategies, such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc., to increase their sales and gain a competitive edge in the global Beetroot Powder market.
For instance:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.6% from 2023 to 2033 |
| Market Value in 2023 | USD 474.7 million |
| Market Value in 2033 | USD 741.7 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, China, Japan, South Korea, India, Singapore, Indonesia, Thailand, Australia, New Zealand, GCC Countries, South Africa |
| Key Companies Profiled | 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 United States, the United Kingdom and France dominate the global market.
The market is forecast to register a CAGR of 4.6% through 2033.
From 2018 to 2022, the market registered a CAGR of 3.9%.
Rising health concerns disrupts the current market trends.
The global market size is to reach USD 741.7 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Organic 5.2. Conventional 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Ingredient 6.2. Packed food 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Yesraj Agro Exports Pvt. Ltd 17.2. Bioglan 17.3. Nature's Way Products LLC 17.4. Super Sprout LLC & Juices International Pty Ltd. 17.5. NutraMarks Inc. 17.6. Radiance Ltd. 17.7. Go Superfood 17.8. Natures Aid Ltd. 17.9. Botanical Ingredients Ltd 17.10. Indigo Herbs Radiance Ltd 18. Assumptions & Acronyms Used 19. Research Methodology
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Beetroot Powder Market
