The global beetroot powder market was valued at USD 474.7 million in 2023. Growth is expected to be driven primarily by its increasing nutritional benefits and diverse applications. Sales of beetroot powder are projected to rise at a robust CAGR of 4.6% from 2023 to 2033, reaching approximately USD 741.7 million by the end of the forecast period.
Beetroot powder’s rising appeal as a natural coloring additive and the rising demand for organic and nutritious food products are both contributing to this increase. In addition to being a strong source of vitamins, minerals, and antioxidants, beetroot powder is a natural supply of nitrates, which have been found to enhance athletic performance and blood circulation.
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.
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
Key providers in the beetroot powder market are employing a range of strategies to boost sales and enhance their competitive position. These strategies include launching new products, securing approvals, forming partnerships and collaborations, and pursuing acquisitions and mergers.
For instance:
- Nature’s Way introduced Beet Root Powder in February, which supports antioxidant pathways and free radical scavenging activity.
- AS-IT-IS launched its new product, beetroot powder, in November 2020. It is completely natural and free of chemicals. This improves immunity, memory, and energy.
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
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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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