Market analysis of end-user industry segment in the global beetroot powder market
The others sub-segment is expected to create the highest market value by the end of the forecast period, owing to the increasing consumption of ready to drink non-alcoholic beverages and beet root juices. The food colorants sub-segment is expected to create the second highest market value by the end of the forecast period, owing to the increasing usage of beetroot powder to enhance the fragrance of kitchen recipes instead of vinegar.
Cosmetics sub-segment is expected to register the highest CAGR in terms of value, owing to the increasing use of beet root powder in the manufacture of natural cosmetic products such as lip-colors and body lotions. Nutraceuticals sub-segment is expected to register a high CAGR in terms of value, owing to the increasing usage of beet root powder as an ingredient because of its anti-oxidant and anti-inflammatory properties due to the presence of phytonutrients called betalains.
Increasing number of health conscious consumers and a growing trend of certifications are driving the growth of the global beetroot powder market
- Beetroot powder is the novel antioxidant ingredient, which is becoming popular amongst health conscious consumers. Beetroot powder is great addition to one’s diet and is one of the healthiest products available today. The increasing application of beetroot powder in various industries are increasing day by day
- Instead of consuming the whole beet, the beets are processed and dried to form a very concentrated powder of pure beetroot juice extract. While a cup of raw beets may have about 58 calories and 13 grams of carbohydrates, a cup of beet juice has 100 calories and 25 grams of carbs because of the high concentration
- Beetroot powder can be used as a super food supplement as it is agood source of iron and folate (naturally occurring folic acid). It also contains nitrates, betaine, magnesium and other antioxidants (notably betacyanin) and helps in boosting the exercise performance and prevent dementia. Beetroot powder is loaded with the same potent vitamins, minerals, and nutrients. Beetroot powder is rich in antioxidants, dietary fiber, calcium, iron, potassium, folate and manganese, along with other nutrients
- The consumers are demanding for the products which are certified as a proxy for product quality, certifications like Organic, Non-GMO project certified, gluten free, kosher and other certifications. Demand for certified powder also rapidly increasing with manufacturers are more focused on certified product introduction
- Globally, consumers are turning towards healthier beverage options. Increasing health consciousness among consumers has shifted the demand from unnatural and high sugar drinks to healthful, better-for-you beverages. For instance, in 2017, Teapigs has launched a new range of feel goods tea which is an energy tea which contains a blend of hibiscus, ginger, green tea and beet root powder as the increasing consumer demands of healthful drinks
The global beetroot powder market is expected to exhibit a healthy CAGR of 5.0% in terms of value over the forecast period
Revenue from global beetroot powder market was valued more than US$ 12 Bn in 2012 and little more than US$ 15 Bn in 2016. The global beetroot powder market is expected to reach a value of more than US$ 25 Bn expanding at a CAGR of 5.0% over the forecast period, i.e. 2017–2027. In terms of volume, the global beetroot powder market stood at 6, 90,000 Tons by 2016 end, and is expected to reach 1,138,232 Tons by 2027 end, at a CAGR of 4.7%.
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By End User
- Food & Beverages
- Food Colorants
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)