Beetroot Powder Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Beetroot Powder Market grew at a CAGR of 5.2% between 2017-2021 and is estimated to be US$ 412.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.5% and is expected to reach a valuation of US$ 704.3 Mn by 2032 end.
The most potential area of the industry is the market for beet powder. Due to its widespread use in sectors like food, medicine, and cosmetics, it has gradually grown. Beetroot powder is often made from the taproot of beet plants, such as garden beets, table beets, red beets, and golden beets. To make beetroot powder, the taproot is first dried and then ground.
ChemView Consulting has analyzed that the growing popularity of utilizing beetroot powder to flavor pizza and hamburgers is one of the factors driving the worldwide beet industry. Beetroot powder is booming in the beauty business worldwide thanks to the rising use of beetroot powder in cosmetics due to its higher antioxidant content. Beetroot powder has a somewhat fragmented market across the world.
The organic beetroot powder product type is anticipated to have a sufficiently high opportunity during the forecast period. During the forecast period, the market for organic beetroot powder is expected to increase at a CAGR of 6.1%. The conventional beetroot powder market is anticipated to grow in volume at a CAGR of 5.6% throughout the forecast period.
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Segments Covered in Report
- Packed food
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Beetroot Powder Market
- Based on the type, the organic beetroot powder product type is anticipated to have a sufficiently high opportunity during the forecast period. During the forecast period, the market for organic beetroot powder is expected to increase at a CAGR of 6.1%. The conventional beetroot powder market is anticipated to grow in volume at a CAGR of 5.6% throughout the forecast period.
- Based on the region, with a market share of 36.1%, China, Japan, and India are projected to rule the current Asia Pacific powder market. By 2032, this market share is expected to rise significantly. Key factors in regional product growth include raising consumer perceptions of a healthy lifestyle and increasing sports participation to enhance sports performance.
Key companies covered in the market study are 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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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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