Press release
Beetroot Powder Market Reviews Analysis Report 2024
"Beetroot Powder Market" in terms of revenue was estimated to be worth $483.79 Mn in 2023 and is poised to reach $830.30 Mn by 2031, growing at a CAGR of 7.23% from 2024 to 2031 according to a new report by InsightAce Analytic.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Beetroot Powder market are:
• Growing Health and Wellness Trends Fueled by Nutrient-Rich Beetroot
• Expanding Applications in Food and Beverage Industry
• Increased Consumer Demand for Natural Food Colorants
The following are the primary obstacles to the Beetroot Powder market's expansion:
• Growing Health and Wellness Trends Fueled by Nutrient-Rich Beetroot
• Expanding Applications in Food and Beverage Industry
• Increased Consumer Demand for Natural Food Colorants
Future expansion opportunities for the global Beetroot Powder market include:
• Innovation in Processing Technologies for Improved Color Retention
• Expansion in Functional Food and Nutraceutical Sectors
• Growing Preference for Plant-Based and Clean Label Products
Market Analysis:
Beetroot powder has many biological advantages, including strengthening and enhancing the immune system, promoting skin health, and assisting in the maintenance of healthy bones. It's also taken to keep blood pressure stable, improve liver function, and lose weight. The market for beetroot powder is anticipated to grow significantly over the projected period as a result of growing interest in healthy lifestyles, rising demand for organic food, and ethical and environmental concerns.
List of Prominent Players in the Beetroot Powder Market:
• Nature's Way
• Bioglan
• Yesraj Agro Exports
• Super Sprout
• Cultivator Natural Products
• Natures Aid
• Venkatesh Naturals
• NutraMarks
• Go Superfood
• Botanical Ingredients Ltd.
Beetroot Powder Market Report Scope:
Report Attribute Specifications
Market size value in 2023 USD 483.79 Mn
Revenue forecast in 2031 USD 830.30 Mn
Growth rate CAGR CAGR of 7.23% from 2024 to 2031
Quantitative units Representation of revenue in US$ 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 By Type, Distribution Channel, Application And End-Use Industry
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Recent Developments:
• In May 2022, UpBiet is a product of Sibelius Natural Products, a UK-based company, that uses a professionally validated source of beetroot juice crystals to target fatigue, cerebral blood flow, and stamina. UpBiet works with a variety of forms, such as beverages, gels, powders, jellies, and shot pots.
• In November 2021, Stada and Bioglan inked a contract to increase production capacity in response to the growing demand for Parkinson's disease treatments.
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Beetroot Powder Market Dynamics:
Market Drivers: Increasing Use of Natural Ingredients
The beetroot powder market is not very fragmented worldwide. Because there are so many competitors in the beetroot powder market, there is fierce competition. Increasing the quality of their offerings is the aim of many suppliers in this sector. Furthermore, a lot of players are working harder to increase the number of customers they serve by offering eye-catching product packaging.
Challenges: High Cost of Beetroots
The growing cost of beetroot and production is expected to impede the development of the beetroot powder sector. Customers in impoverished and underdeveloped countries could find it difficult to use items that contain beetroot powder because of their high costs. Due to their high cost, products containing some beetroot powder may be difficult for people in developing and undeveloped nations to use, which might limit the market's growth over the course of the projected period. As a result, it is expected that this will hinder market growth.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period
The North America Beetroot Powder Market is likely to register a significant revenue share and to develop at a rapid CAGR in the near future. Food and beverage products are becoming more and more popular, which could lead to a faster rate of product growth as consumer demand for natural food colors increases and interest in synthetic colors rises. Beet powder is widely used as a natural food coloring to add color to dishes like curries, smoothies, gravy, ketchup, pancakes, and red velvet cakes, as well as to support the local economy.
Segmentation of Beetroot Powder Market-
By Type-
• Conventional
• Organic
By Distribution Channel-
• Online Sale
• Retail Shops
• Departmental Stores
• supermarket/hypermarkets
By Application-
• Curries & Gravies
• Food Color
• Soups
• Coatings
By End-User-
• Food
• Beverage
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions.
Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses.
We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products.
Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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