Beetroot Powder Market to Reach $830.30 Million by 2031 Fueled by Health and Wellness Trends and Expanding Food and Beverage Applications

"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 offers several biological benefits, including enhancing immune function, promoting skin health, and supporting the maintenance of strong and healthy bones. It is also used to help regulate blood pressure, improve liver function, and support weight management. The market for beetroot powder is expected to experience substantial growth over the forecast period, driven by increasing consumer interest in health and wellness, rising demand for organic food products, and growing awareness of ethical and environmental considerations.

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.

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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.

Beetroot Powder Market Dynamics
Market Drivers: Increasing Demand for Natural Ingredients
The global beetroot powder market is relatively consolidated, with intense competition among numerous market participants. Many suppliers are focusing on improving the quality of their products to strengthen their competitive position. Additionally, several companies are adopting innovative and attractive packaging strategies to expand their customer base and increase market penetration.

Challenges: High Cost of Beetroots
The rising costs associated with beetroot cultivation and production are expected to hinder the growth of the beetroot powder market. The high price of products containing beetroot powder may limit accessibility for consumers in developing and underdeveloped regions, thereby restricting market expansion over the forecast period. Consequently, this cost barrier is anticipated to present a significant challenge to market growth.

Regional Trends: North America Expected to Register the Highest CAGR During the Forecast Period
The North American beetroot powder market is projected to achieve a substantial revenue share and grow at a robust compound annual growth rate (CAGR) in the coming years. The increasing popularity of food and beverage products, coupled with rising consumer demand for natural food colorings, is expected to drive market growth. Beetroot powder is widely used as a natural coloring agent in various food products, including curries, smoothies, gravies, ketchup, pancakes, and red velvet cakes. This growing trend toward natural ingredients is expected to contribute positively to market expansion and support local economies.

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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

About Us:
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 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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This release was published on openPR.