Beetroot Powder Market Size to Surpass $691 Million by 2030, Growing at a CAGR of 5.5% | Zion Market Research

NEW YORK, United States, June 22, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Beetroot Powder Market 2023 – 2030” in its research database. According to the latest research study, the global beetroot powder market size was worth at USD 450 million in 2022 and it is expected to surpass USD 691 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.5% during the forecast period 2023 to 2030.

What is Beetroot Powder? How big is the Beetroot Powder Industry?

Report Overview:

Beetroot can also be referred to as red beetroot, golden beetroot, table beetroot and garden beetroot. All of these names pertain to the same vegetable. As a sweetening agent, beetroot is utilised due to its higher sugar concentration in comparison to that of other vegetables. When beets that have been dehydrated are milled or ground, the resulting powder is called beetroot powder. There are a few different kinds of cuisine that can benefit from the flavour and colour that the beetroot powder provides. The beetroot powder contains betaine, which is a phytochemical that assists in the processing of amino acids by the kidneys and liver. It also contributes to the healthy operation of the circulatory system. Beetroot powder contains a wide variety of nutrients, including phosphorus, iodine, magnesium, copper, riboflavin, fibre, potassium, chlorine, iron, calcium, salt, thiamine, and minerals.

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Growth Drivers

• Global cardiovascular disease prevalence fuels market expansion.

Beetroot juice is rich in nitrates, which improve blood flow and heart health. Beetroot nitrates may enhance blood flow and exercise capacity in heart failure patients. Thus, global cardiovascular disease prevalence is likely to boost beetroot powder market expansion during the forecast years. The American Heart Association reported 19.1 million CVD deaths in 2020.

Age-adjusted mortality was 239.8 per 100,000. Age-adjusted prevalence was 7354.1/100,000. Oceania, North Africa, the Middle East, Central Europe, sub-Saharan Africa, South and Southeast Asia, and Eastern Europe had the highest CVD-related mortality rates in 2020. High-income Asia Pacific, North America, Latin America, Western Europe, and Australasia had the lowest rates. This fosters market growth over the forecast.

Restraints

• Beetroot prices are rising, preventing industry growth

Rising beetroot and production costs are expected to slow beetroot powder business growth. In developing and underdeveloped countries, beetroot powder goods may be too pricey. Thus, market growth should slow.

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Report Scope

Beetroot Powder Market: Segmentation Analysis

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.

The global Beetroot Powder market is segmented as follows:

By Product Type

• Organic Beetroot Powder
• Conventional Beetroot Powder

By Packaging

By Application

• Food & Beverages
• Pharmaceuticals
• Cosmetics

Browse the full “Beetroot Powder Market By Product Type (Organic Beetroot Powder And Conventional Beetroot Powder), By Packaging (Cans, Bottle, And Bags), By Application (Food & Beverages, Pharmaceuticals, And Cosmetics), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030″ Report At- https://www.zionmarketresearch.com/report/beetroot-powder-market

Competitive Landscape

Some of the main competitors dominating the global Beetroot Powder market include – 

• 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

 Key Insights from Primary Research:

• According to the analysis shared by our research analyst, the Beetroot Powder market is likely to expand at a CAGR of around 5.5% during the forecast period (2023-2030).
• In terms of revenue, the Beetroot Powder market size was valued at around US$ 450 million in 2022 and is projected to reach US$ 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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Key questions answered in this report:

• What is the market size and growth rate forecast for Beetroot Powder industry?
• What are the main driving factors propelling the Beetroot Powder Market forward?
• What are the leading companies in the Beetroot Powder Industry?
• What segments does the Beetroot Powder Market cover?
• How can I receive a free copy of the Beetroot Powder Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product Type, By Packaging, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is projected to lead the global beetroot powder market. Health consciousness and organic product expertise are driving growth in the region. The National Agricultural Statistics Service (NASS) of the U.S. Department of Agriculture’s 2021 Organic Survey found that organic product sales reached $11.2 billion, up $1.28 billion (13%) from 2019. 17,445 certified organic farms increased 5% from 2019. California maintained its lead with $3.55 billion in certified organic sales—32% of the US total. It led all states with 3,061 certified fields and 813,710 acres.

Washington ($1.14 billion), Pennsylvania ($1.09 billion), Texas ($572 million), and Oregon ($386 million) lead organic sales. Market expansion is also projected due to rising diabetes rates. Beetroot treats diabetes naturally. 11.3% of Americans—37.3 million—have diabetes, according to the Diabetes Research Institute Foundation. 28.5%, or 28.7 million people, had diabetes. 8.5 million diabetics are undiagnosed (2022). These characteristics encourage regional market expansion during the projection period.

Europe is expected to grow at a significant rate over the forecast period due to the high prevalence of cardiovascular disease. According to the European Society of Cardiology, cardiovascular diseases (CVD) remain the leading cause of morbidity and mortality in Europe. However, CVD mortality is now dropping in most European countries, including Central and Eastern Europe, which saw large increases until the 21st century. Over 6 million CVD cases occur annually in the EU and Europe.

By Region

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

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.

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