Beetroot Powder Market Growth & Upcoming Opportunity, 2024-2032
Beetroot Powder Market Growth & Upcoming Opportunity, 2024-2032

Beetroot Powder Market Share, Size, Trends, Industry Analysis Report, By Type (Organic, Conventional); By Application (Curries and Gravies, Food Color, Soups and Coatings); By Distribution Channel; By Packaging; By Region; Segment Forecast, 2024 - 2032

  • Published Date:Jan-2024
  • Pages: 114
  • Format: PDF
  • Report ID: PM3824
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global beetroot powder market was valued at USD 470.83 million in 2023 and is expected to grow at a CAGR of 4.70% during the forecast period.

Beetroot is a root vegetable with a distinct, vibrant red color and various health benefits. This is widely used in the food and beverage industry to add a healthy touch to food items. Beetroot powder is made from dried beetroot by grinding it into a powder. It acts as a natural food color and can be used as a flavor agent.

Beetroot Powder Market Size

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According to the study published in the Multidisciplinary Digital Publishing Institute (MDPI) in 2023, biscuits with beetroot powder are found to be nutritious with improved functional and antioxidant potential during storage compared to biscuits with spelt flour. This demonstrates the benefits of beetroot powder to the consumer's health while cooking with food items. Further research on the usage of beetroot powder in various disciplines will fuel the demand for the product in the coming years.

Industry Dynamics

Growth Drivers

Increased awareness of the health benefits of beetroot

Powdered beetroot offers convenience and increases the shelf life of beetroot, enabling its use in soups, beverages, and spices. Earlier, manufacturers used beetroot powder only as a food additive. The emergence of research activities on beetroot powder revealed its ability to improve athletes’ performance. A research report published in 2021 suggests the presence of nitrates in beetroot powder enhances athletes' performance and reduces muscle cramps after certain exercises.

Beetroot Powder Market Size

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Growing health consciousness among consumers is driving them to use beetroot powder in pizza and pasta as a coloring agent with nutritional value. The high iron and vitamins driving its usage in beauty care, along with its antioxidant properties, assist anti-ageing products. The powder form of beetroot enables its usage in skin care like brightening lips, hydrating dry skin, preventing wrinkles, and many more, driving the growth of the global beetroot powder market in the study period.

Report Segmentation

The market is primarily segmented based on type, application, distribution channel, packaging and region.

By Type

By Application

By Distribution Channel

By Packaging

By Region

  • Organic
  • Conventional
  • Curries and Gravies
  • Food Colour
  • Soups and Coatings

 

 

  • Online Sales
  • Retail Shops
  • Departmental Stores
  • Supermarket/Hypermarket

 

 

  • Cans
  • Bottles
  • Bags
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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By Type Analysis

Organic segment has garnered the fastest growth over the forecast period

Organic segment is registered to have faster growth in the beetroot powder market. Growing health consciousness among people is motivating them to try organic and natural products in their food. This is driving the use of beetroot powder as a natural flavor and coloring agent with nutritional content. Beetroot powder has a higher nutritional content with vitamins, minerals, and antioxidants, which encourages health-conscious consumers to adopt this powder in their food intake. Organic farming of beetroot is associated with economically friendly fruits without pesticides and chemicals. Increasing consumer interest in organic farming is driving demand for beetroot powder in the coming years. 

By Application Analysis

Food Colour segment accounted for the largest market share in 2022

Food color segment held the largest market share for the market in the study period. Food color plays a dominant role in attracting consumers attention during food consumption. There is a growing preference for natural ingredients in products. This made manufacturers focus on producing natural food colors by creating alternatives to synthetic food colors. Beetroot powder fulfils this need due to the presence of betacyanin, a natural food agent that supports this shift. Furthermore, the versatility of beetroot powder as a food color is driving usage in applications like bakery foods, soups and coatings, curries, and gravies. Its ability to produce a vibrant red color will drive the largest share in the global market in the coming years.

By Distribution Channel Analysis

Online Sales segment is expected to hold the largest revenue share

Online Sales segment is projected to witness a larger revenue share in the coming years. This sales channel allows consumers to access the product from home. It offers convenience by providing a wide range of products and brands in their comfort zone without the need for transportation to retail shops. Access to information about products and prices helps customers make purchase decisions instantly. This distribution channel reduced the asymmetry of information, building trust among consumers. Furthermore, it provides access to niche products like organic beetroot powder, which is harder to find in physical stores.

Businesses and working professionals did not have time to go to physical stores, online sales enable access to health products like beetroot powder without time constraints. Moreover, rising digital awareness among the younger generation is creating a shift towards online shopping. In the coming years, this generation will move into the working population, which enables them to have purchasing power, which in turn drives the growth of online sales. These factors are all contributing to the demand for beetroot powder through online sales channels in the years to come.

By Packaging Analysis

Bags segment is dominating the global market with higher growth

Bags segment is expected to witness higher growth in the market. Bags offer convenience to manufacturers as well as consumers. Its features, like being easier to store and resealable, allow customers to use beetroot powder when they are in need. Bags grab consumer attention and brand awareness due to their rigorous graphics and branding, motivating manufacturers to adopt bags for the packaging of beetroot powder. Furthermore, it provides consumers with flexibility when consuming bulk quantities. It is a cost-effective option compared to cans and bottles, driving adoption of beetroot powder packaging by manufacturers

Regional Insights

Europe dominated the global market with highest growth rate

Europe garnered a higher growth rate in the study period. Manufacturers are exploring the uses of various ingredients by investing in research and development activities to produce effective Products for consumers. Blue Farm, a Germany based company, unveiled its beetroot oat latte in powdered form for the first time in 2023. This is done in relation to the increased popularity of powdered oat milk. The Powdered form of beetroot provides convenience to consumers and increases access to the product all the time without shelf life being an issue.

Furthermore, the growing incorporation of beetroot powder in a wide range of products like smoothies, healthy drinks, and energy bars by manufacturers creates new growth opportunities for beetroot powder in this region. As manufacturers further continue the research activities on potential uses of beetroot powder in health care, food and beverage, and skin care products, this will drive demand for the product in the future.

North America witnessed a larger revenue share in the forecast time frame

North America is projected to receive a larger revenue share of the market. Rising preference for organic food is driving demand in this region, which in turn drives revenue in the global market. Beetroot powder is made from freshly picked beets by drying and grinding the fruit. Farmers are producing fruits without chemicals due to the awareness of organic food and the consumers’ willingness to spend a bit more for organic products than conventional food.

According to the Organic Trade Association Report, Organic food sales in the United States reached USD 60 billion in 2022 for the first time. In 2023, organic sales, including non-food products, totaled USD 67.6 Billion. This suggests growth in consumer preferences towards organic food items, creating demand for beetroot powder in the region. Moreover, the presence of large health-conscious influencers in the region is creating awareness about healthy and organic products like beetroot powder, fueling demand for the product in the coming years.

Key Players & Competitive Insight

Key players in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share

Some of the major players operating in the global market include

  • Beet It
  • Biofinest
  • BulkSupplements
  • Dynamic Health
  • Nature's Way
  • Pure Synergy
  • Starwest Botanicals
  • Terrasoul Superfoods

Recent Developments

  • In May 2023, POSSIBLE introduced Strawberry Beet Pre-Workout Powder to its portfolio to transform the fitness industry. This product fosters mental attention and energy levels. The packaging of the product is convenient, with single serving stick packs.
  • In October 2022, ASYSTEM, a supplement brand, introduced PRE-WORKOUT+ under a partnership with Warner Bros. It is the second product in their partnership. The primary ingredient used in this supplement to improve energy levels is beetroot powder.

Beetroot Powder Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 491.88 million

Revenue forecast in 2032

USD 710.01 million

CAGR

4.70% from 2024 - 2032

Base year

2023

Historical data

2019 - 2022

Forecast period

2024 - 2032

Quantitative units

Revenue in USD million and CAGR from 2024 to 2032

Segments covered

By Type, By Application, By Distribution Channel, By Packaging, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization    

Report customization as per your requirements with respect to countries, region and segmentation.

FAQ's

key companies in beetroot powder market are Nature's Way, Terrasoul Superfoods, BulkSupplements, Biofinest, Starwest Botanicals.

The global beetroot powder market is expected to grow at a CAGR of 4.7% during the forecast period.

The beetroot powder market report covering key segments are type, application, distribution channel, packaging and region.

key driving factors in industrial beetroot powder market are increased awareness of the health benefits of beetroot.

The global beetroot powder market size is expected to reach USD 710.01 million by 2032.