In 2023, the global beetroot powder market size was valued at USD 474.7 million. Growth in nutritional benefits and versatile applications is expected to drive market expansion. Sales of beetroot powder products are forecasted to grow significantly, with a compound annual growth rate (CAGR) of 4.6% from 2023 to 2033. By 2033, the market is anticipated to reach approximately USD 741.7 million.
Beetroot powder’s attraction is heightened by knowledge of its health advantages. The personal care and cosmetics sector offers a substantial potential for growth. Nevertheless, the high price, availability of replacements, and low awareness are obstacles. Threats include navigating governmental restrictions and staying ahead of rivals’ product advances. Overall, leveraging market drivers, grabbing opportunities, managing limitations, and adjusting to changing environments is key to the market’s success.
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Key Takeaways
- The Astonishing Growth of India: India has a remarkable 15.9% economic growth rate, reflecting its strong and thriving economy.
- The United States and Japanese Performance Resilient Economies of the United States and Japan are highlighted by their consistent growth rates of 8.5% and 8.0%, respectively.
- Germany’s Consistent Growth: Germany continues to develop at a strong 4.1% annual rate, underscoring its resilience and dominance in the European market.
- China’s Moderate Expansion: China has been expanding at a moderate pace, with a 3.4% growth rate reflecting a conscious effort to achieve sustainable development rather than quick growth.
- Moderate Growth in Australia and the UK: With moderate growth rates of 3.0% and 2.5%, respectively, Australia and the United Kingdom are showing consistent economic performance.
Competitive Landscape
The world market for beetroot powder is slightly fragmented. The market for beetroot powder is highly competitive, as evidenced by the large number of active manufacturers. Many suppliers in this sector aim to raise the caliber of their offerings. In addition to this, many businesses are stepping up their attempts to expand their consumer base by providing appealing packaging for their goods. Thus, an increase in M&A activity, joint ventures, and other forms of collaboration fuel the market for beetroot powder.
Super Sprout LLC & Juices International Pty Ltd.
A well-known provider of beetroot powder on the international market is Super Sprout LLC & Juices International Pty Ltd. Beetroot powder goods from the brand come in a variety of varieties, including organic, non-GMO, and vegan alternatives. In recent years, Super Sprout LLC & Juices International Pty Ltd. has introduced a number of new beetroot powder products. The company is also renowned for its inventive product creation.
Indigo Herbs Radiance Ltd.
The UK-based business Indigo Herbs Radiance Ltd. specializes in the creation of organic health products. Beetroot powder products are available from the company in a range of forms, including powders, capsules, and liquids. The company Indigo Herbs Radiance Ltd. is renowned for its premium goods and dedication to sustainability.
Yesraj Agro Exports
India’s Yesraj Agro Exports is a well-known provider of beetroot powder to the international market. Beetroot powder goods from the brand come in a variety of varieties, including organic, non-GMO, and vegan alternatives. Yesraj Agro Exports is renowned for both its dedication to quality and its affordable costs.
Nature’s Way
A leading provider of dietary supplements is a US-based business called Nature’s Way Products. Beetroot powder products are available from the company in a range of forms, including powders, capsules, and liquids. Nature’s Way Products’ reputation is based on its dedication to scientific research and its high-quality products.
Key Strategies of Market Players
Innovative Product Development: Consumers now have a variety of ways to include beetroot powder in their routines, including capsules, smoothies, and energy drinks.
Research-Driven Awareness: Ongoing studies exploring the health advantages of beetroot powder are increasing consumer demand for the substance and fostering consumer awareness.
Global Market Expansion: To meet the rising demand for organic and healthy food products, beetroot powder producers are entering new markets, particularly in Asia and South America.
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Key Segments of Beetroot Powder Industry Survey
By Type:
- Organic
- Conventional
By End Use:
- Ingredient
- Packed food
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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