In 2023, the Beetroot Powder market was estimated to be worth US$ 474.7 million worldwide. The key growth drivers of the market are expected to be its wide range of applications and rising nutritional value. Between 2023 and 2033, beetroot powder product sales are expected to increase at a strong 4.6% CAGR, reaching approximately US$ 741.7 million by the end of that year.
The Beetroot Powder market isseeing rapid expansion as a result of growing consumer knowledge of its many health advantages. Beetroot powder, high in vital minerals and antioxidants, is becoming more and more popular in the food and beverage sector as a natural colouring and nutritional supplement. The demand for it is further fueled by the shift towards clean-label products.
Beetroot powder is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2033. This increase can be attributed to two factors: the popularity of healthy, organic cuisine and the expanding use of beetroot powder as a natural colouring agent. Nitrates, which have been shown to enhance blood flow and athletic performance, may be present in significant quantities in beetroot powder, which is also a rich source of vitamins, minerals, and antioxidants.
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The benefits beetroot powder has for your health make it more appealing. The personal care and cosmetics industry has a lot of room for expansion. The high cost, accessibility of alternatives, and low level of knowledge are hindrances, though. Threats include managing governmental limitations and keeping up with product advancements by competition. In general, the market must succeed by utilising market drivers, seizing opportunities, controlling constraints, and responding to changing conditions.
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.
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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.
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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