Beetroot Powder Market Size, Share, Price 2030

Industry Prospective:

The global beetroot powder market size was worth around USD 450 Million in 2022 and is predicted to grow to around USD 691 Million by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030. The report analyzes the global beetroot powder market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the beetroot powder industry.             

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Beetroot Powder Market: Overview

The names red beet, golden beet, table beet, and garden beet are also used to refer to beetroot. Due to its higher sugar content than other vegetables, beetroot is used as a sweetening agent. Beetroot powder is created when the dehydrated beets are milled or ground. Several food items benefit from the flavor and color the beetroot powder brings. The beetroot powder contains betaine, a phytochemical that aids in the kidney and liver's processing of amino acids as well as the cardiovascular system's correct operation. Phosphorus, iodine, magnesium, copper, riboflavin, fiber, potassium, chlorine, iron, calcium, sodium, thiamine, and minerals are all found in beetroot powder.

Key Insights

• As per the analysis shared by our research analyst, the global beetroot powder market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030).
• In terms of revenue, the global beetroot powder market size was valued at around USD 450 million in 2022 and is projected to reach USD 691 million, by 2030.
• The increasing prevalence of chronic diseases such as CVD and diabetes is expected to drive beetroot powder market growth over the forecast period.
• Based on the product type, the organic beetroot powder is expected to grow at the highest CAGR during the forecast period.
• Based on the packaging, the bottle segment is expected to account for the largest market share during the forecast period.
• Based on the application, the pharmaceutical segment is expected to grow at a rapid rate over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Beetroot Powder Market: Growth Drivers

The increasing prevalence of cardiovascular disease across the globe drives the market growth

One of the diet's richest forms of nitrates, which enhance blood flow and heart health, is beetroot juice. As a result, individuals with heart failure may benefit from improved blood flow and exercise capacity due to the nitrates in the extract of beets. Thus, the growing prevalence of cardiovascular disease across the globe is expected to drive the growth of the global beetroot powder  market during the forecast period. For instance, according to the American Heart Association, Around 19.1 million deaths worldwide in 2020 were ascribed to CVD.

The mortality rate, adjusted for age, was 239.8 per 100,000 people. The prevalence rate, addressed for age, was 7354.1 per 100,000. Eastern Europe and Central Asia had the greatest CVD-related mortality rates in 2020, with higher rates also observed in Oceania, North Africa, the Middle East, Central Europe, sub-Saharan Africa, and South and Southeast Asia. Locations in high-income Asia Pacific, North America, Latin America, Western Europe, and Australasia had the lowest rates. Thus, this fact supports the market growth over the forecast period.

Beetroot Powder Market: Restraints

The increasing price of beetroot hinders the industry from growing  

Over the anticipated period, the beetroot powder industry development is anticipated to be hampered by the rising cost of beetroot and production. Due to their expensive prices, consumers in developing and underdeveloped nations may find it challenging to use products that contain some beetroot powder. Therefore, it is anticipated that this will slow market expansion.

Beetroot Powder Market: Opportunities

The growing use of beetroot powder in cosmetics provides a lucrative opportunity

Beetroot, a highly pigmented vegetable with a long list of health advantages, is an excellent method to increase one's energy and blood purity. It is rich in powerful nutrients like folate, vitamin C, fiber, potassium, antioxidants, vitamin B6, and others. Because beetroot powder successfully treats acne without leaving a scar, it is a popular natural ingredient for face masks. On an oily complexion, it is fantastic. The powder aids in blood circulation and is excellent for skin detoxification. Thereby, driving the global beetroot powder market growth over the forecast period.

Beetroot Powder Market: Challenges

Adverse side effect impedes market expansion

Oxalates are abundant in beetroot, and consuming too much of them can cause kidney stones. Although it is extremely uncommon, some people may develop allergies to beetroot. Rashes, hives, itching, as well as chills and fever, are just a few of the allergic responses that may occur. Thus, these side effects pose a major challenge to market growth during the forecast period.

Beetroot Powder Market: Segmentation

The global beetroot powder industry is segmented based on product type, packaging, application, and region.

Based on the product type, the global market is bifurcated into organic beetroot powder and conventional beetroot powder. The organic beetroot powder is expected to grow at the highest CAGR during the forecast period. The shift in lifestyles and increased consumption of nutritious foods have been responsible for the segment's development. According to the US National Institutes of Health (NIH), consuming beetroot has advantageous physiological effects that may result in improved clinical outcomes for a variety of pathologies like hypertension, atherosclerosis, and dementia.

On the other hand, the conventional beetroot powder segment is expected to capture the largest market share over the forecast period. The growth in these segments is owing to the growing demand from the food & beverages and cosmetic industry.

Based on the packaging, the beetroot powder market is segmented into cans, bottles, and bags. The bottle segment is expected to account for the largest market share during the forecast period. The prolonged use of beetroot powder in a household, which necessitates a sturdy and long-lasting container to preserve the quality, is responsible for the segment's development. Because they have a higher standard of living and more money to spend on high-quality goods, developed nations are more likely to use counterfeit goods.

Besides, the bags segment is expected to grow significantly over the forecast period. Because the bags are recyclable and less expensive to produce, beetroot powder prices could drop and product demand may rise in the years to come. Thus, driving the segment growth over the forecast period.

Based on the application, the market is divided into food & beverages, pharmaceuticals, and cosmetics. The pharmaceutical segment is expected to grow at a rapid rate over the forecast period as it is predominantly used in the production of medicines. The increasing research and development on the benefits of beetroot powder are increasing its usage in the development of several organic medicines. Thus, this is expected to drive segment growth over the forecast period.

Recent Developments:

• In May 2022, UpBiet, a product from the UK-based Sibelius Natural Products, targets fatigue, cerebral blood flow, and stamina using a clinically validated source of beetroot juice crystals. Numerous forms, including drinks, gels, powders, jellies, and shot pots, are compatible with UpBiet.
• In November 2021, to increase production to satisfy the rising demand for Parkinson's disease treatments, Bioglan and Stada signed a contract.

Beetroot Powder Market: Report Scope

Beetroot Powder Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the global beetroot powder market over the forecast period. The growth in the region is attributed to the growing health consciousness and the increasing knowledge of the benefits of organic products. The results of the 2021 Organic Survey, which was released by the National Agricultural Statistics Service (NASS) of the U.S. Department of Agriculture, indicate that organic product sales totaled $11.2 billion, up $1.28 billion (13%), from 2019. A 5% rise from 2019 saw 17,445 certified organic farms. With $3.55 billion in certified organic sales—32% of the total in the United States—California maintained its advantage over the rest of the country. With 3,061 certified fields and 813,710 certified acres, it also ranked first among all states.

The top five states for its worth of organic sales are Washington ($1.14 billion), Pennsylvania ($1.09 billion), Texas ($572 million), and Oregon ($386 million). Moreover, the growing prevalence of diabetes in the region is expected to drive market growth. Beetroot is a useful organic product that is used for the treatment of diabetes. For instance, according to the Diabetes Research Institute Foundation, 11.3% of Americans, or 37.3 million individuals, have diabetes. Around 28.5% of the population, or an estimated 28.7 million individuals, had diabetes. There are approximately 8.5 million diabetics who have not yet received a diagnosis (2022). Thus, these facts support the market growth in the region during the forecast period.

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Europe is expected to grow at a significant rate over the forecast period owing to the prevalence of cardiovascular disease. As per the European Society of Cardiology, in Europe, cardiovascular diseases (CVD) continue to be the primary cause of morbidity and mortality. Statistics, however, show that CVD mortality is now declining in almost all European nations, including those in Central and Eastern Europe, which experienced significant rises up until the start of the twenty-first century. In the EU and across all of Europe, there are currently more than 6 million new instances of CVD each year.

Beetroot Powder Market: Competitive Analysis

The global beetroot powder market is dominated by players like:

• Vinayak Corporation
• VedaOils.com
• Drytech Industries
• Farmvilla Food Industries Private Limited
• Venus Dehydrates
• Greenjeeva
• Garon Dehydrates Private Limited
• 3D Masale
• Z-COMPANY
• Himrishi Herbal
• Cosmo Foods
• BakeRite
• GRIFFITH OVERSEAS PVT. LTD.
• Herbal Creative
• Jeeva Organic Pvt. Ltd.
• ROYAL NUT COMPANY

The global beetroot powder market is segmented as follows:

By Product Type

• Organic Beetroot Powder
• Conventional Beetroot Powder

By Packaging

• Cans
• Bottle
• Bags

By Application

• Food & Beverages
• Pharmaceuticals
• Cosmetics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa