Beetroot Powder Market Size, Share, Growth, and Industry Analysis, By Type (Organic, & Conventional), By Application (Food & Beverages, & Industrial), Regional Insights and Forecast to 2031

Updated On: 29 April 2024

BEETROOT POWDER MARKET REPORT OVERVIEW

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The global beetroot powder market size was USD 12090 million in 2019 and the market is projected to touch USD 15160million by 2026, exhibiting a CAGR of 3.2% during the forecast period.

The beetroot powder market is currently experiencing notable growth, driven by an increasing consumer focus on health and wellness. As people seek natural and functional food products, beetroot powder has gained popularity for its nutritional benefits and versatile applications. The market's expansion is fueled by heightened awareness and a growing preference for products that promote overall well-being.

Simultaneously, the market for plant-based alternatives is witnessing significant momentum, propelled by the rising demand for sustainable and cruelty-free options. With consumers increasingly adopting plant-based diets, the plant-based alternatives market is experiencing steady growth. The expansion is attributed to a shift in consumer preferences towards ethical and environmentally friendly choices, driving innovation and diversification in plant-based product offerings.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Lockdown Restrictions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has significantly affected the beetroot powder market, leading to a predominantly negative impact. Disruptions in the global supply chain, logistical challenges, and decreased consumer spending on non-essential items have hindered the production and distribution of beetroot powder. Additionally, the closure of restaurants, gyms, and other fitness-related businesses has reduced the demand for health and wellness products like beetroot powder. The overall economic uncertainty and changes in consumer behavior have created a challenging environment for the beetroot powder market, resulting in a negative impact on its growth and profitability.

LATEST TRENDS

"Rising Culinary Creativity to Reshape the Market"

In a recent trend, beetroot powder has gained popularity as a versatile and vibrant natural food coloring agent. Beyond its traditional uses in health-focused products, the market is witnessing a surge in demand for beetroot powder in culinary applications. Food enthusiasts and chefs are increasingly incorporating this natural ingredient into various dishes, leveraging its rich color profile to enhance visual appeal and introduce a health-conscious element to their creations. This trend reflects a growing consumer interest in plant-based alternatives and the exploration of beetroot powder as a visually appealing and health-enhancing addition to a wide range of culinary delights.

BEETROOT POWDER MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorised into Organic, & Conventional.

Organic: This type of beetroot powder is sourced from beets grown without the use of synthetic pesticides, herbicides, or genetically modified organisms (GMOs). It appeals to consumers seeking natural and environmentally friendly products.

Conventional: This type of beetroot powder is produced through conventional farming methods, which may involve the use of pesticides and other conventional agricultural practices. Both categories cater to diverse consumer preferences, with Organic options targeting those prioritizing sustainability and health-conscious choices, while Conventional options provide a more conventional and widely available choice in the market.

• By Application

Based on application the global market can be categorised into Food & Beverages, & Industrial.

Food & Beverages: In this sector, beetroot powder is utilized for its vibrant color and nutritional properties, making it a popular ingredient in various culinary applications. It is incorporated into food products, beverages, and health-focused supplements, appealing to consumers seeking natural and functional additions to their diets.

Industrial: In this category, beetroot powder finds application in non-food sectors such as textiles and cosmetics. Its natural colorant properties make it a valuable ingredient in industrial processes, providing a sustainable and plant-based alternative for coloring various products.

DRIVING FACTORS

"Growing Health Consciousness to Fuel the Market Growth"

One significant driving factor for the beetroot powder market growth is the increasing global emphasis on health and wellness. As consumers become more health-conscious, there is a rising demand for natural and functional food products. Beetroot powder, known for its rich nutritional profile and potential health benefits, aligns with this trend. Its inclusion in various food and beverage products, as well as dietary supplements, is driven by the desire of consumers to make nutritious choices that contribute to overall well-being. This health-focused approach is a key driver propelling the growth of the beetroot powder market.

"Expanding Culinary Innovation to Drive Demand in the Market"

Another driving force behind the beetroot powder market is the growing trend of culinary creativity and experimentation. Chefs, food enthusiasts, and product developers are increasingly recognizing the versatility of beetroot powder as a natural food coloring agent. Its vibrant hue and earthy flavor make it an attractive addition to a wide range of culinary creations, including dishes, beverages, and desserts. The rising popularity of plant-based and visually appealing foods has led to the incorporation of beetroot powder as a key ingredient, driving innovation in the culinary space and contributing to the expansion of the beetroot powder market.

RESTRAINING FACTORS

"Supply Chain Disruptions to Impede the Market Expansion"

A notable restraining factor for the beetroot powder market is the vulnerability to supply chain disruptions. Factors such as adverse weather conditions, fluctuations in beetroot crop yields, and logistical challenges can impact the consistent availability of raw materials for beetroot powder production. These uncertainties in the supply chain may lead to fluctuations in product availability and pricing, posing challenges for manufacturers and hindering the seamless growth of the market. Addressing and mitigating these supply chain risks becomes crucial for sustaining the momentum of the beetroot powder market.

BEETROOT POWDER MARKET REGIONAL INSIGHTS

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"The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa."

"North America to Lead the Market owing to Robust Healthcare Sector"

North America stands as the most dominant region in the beetroot powder market share, capturing a substantial share. This dominance can be attributed to the region's heightened awareness of health and wellness, driving the demand for natural and nutrient-rich products. The increasing adoption of beetroot powder in various food and beverage applications, coupled with a strong trend towards plant-based alternatives, has propelled North America to the forefront of the market. Additionally, a well-established food and beverage industry, coupled with a growing preference for clean-label and organic products, further solidifies the region's position as a key contributor to the overall market share of beetroot powder.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The beetroot powder market is influenced significantly by key industry players who play a pivotal role in shaping its trajectory. Leading companies are among the prominent players contributing to the market's expansion. These industry leaders are driving innovation, investing in research and development, and expanding their product portfolios to meet the increasing demand for beetroot powder. Their strategic initiatives, market collaborations, and focus on sustainable practices have a profound impact on market dynamics, influencing trends, and contributing to the overall growth and competitiveness of the beetroot powder market.

List of Market Players Profiled

• Windmill Organics (U.K.)

• Lush Retail Limited (U.K.)

• STADA Arzneimittel AG (Germany)

• Mountain Rose Herbs (U.S.)

• Changsha Vigorous Tech (China)

• Z Natural Foods (U.S.)

• Indigo Herbs (U.K.)

INDUSTRIAL DEVELOPMENT

August 2023: Microencapsulation has been one of the several latest innovations in the market. Encapsulating beetroot powder particles in a protective coating (e.g., fats, carbohydrates) improves stability, prevents flavor loss, and facilitates controlled release of bioactive compounds during digestion. This enhances the powder's shelf life, functionality, and potential health benefits.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.