Beetroot powder find application in various industries such as food & beverage, pharmaceuticals, and cosmetic industry, attributed to its nutritional and medicinal benefits. It is rich source of vitamins and minerals which overcome the health problems such as blood pressure, skin problems, deficiency of red blood corpuscles, obesity, and liver disease.
Growing popularity of organic and natural products is expected to accelerate the demand for beetroot powder during forecast period 2019–2026. The global organic retail sales for organic food was valued at USD 85.54 and Fairtrade retail sale was USD 8.25 billion in 2015. Said by Fairtrade Foundation.
Additionally, growing food and beverage industry is anticipated to accelerate the demand for global beetroot powder. As stated by, Ministry of Food Processing Industries (Government of India), the total consumption of the food and beverage segment in India was valued at USD 369 billion in 2016 which is projected to reach USD 1.142 trillion by 2025, in addition to that food processing sector is expected to increase USD 958 billion for the same period.
North America is expected to gain major traction in global beetroot market owing to increasing attention for the healthy life style and growing demand for organic and natural products for healthy life. For instance, according to Organic Eprints Organization, the organic market in United States was valued at USD 40.45 billion in 2015.
Europe is likely to witness substantial growth for beetroot powder market during forecast period. This is attributed to growing adoption of beetroot powder in the cosmetic and personal care products inlcuding hair care, facial masks.
Asia Pacific is expected to dominate global beetroot powder market during the forecast period owing to changing lifestyle andincreasing spending on healthcare products., For instance, according to International Trade Administration, China is second largest pharmaceutical market in the world. In 2015, the china's pharmaceutical market value was USD 108 billion, and it is projected to grow at USD 167 billion by 2020, representing an annual growth rate of 9.1%.
Conventional Beetroot Powder is expected to gain significant demand during forecast period, attributed to its versatile applications in food and beverage industry.
Pharmaceutical sector is major consumer of the beetroot powder owing to its nutritional and medicinal benefits. Growing Pharmaceutical market is expected to fuel the growth of the global beetroot powder market. For instance, according to India Brand Equity Foundation, Pharmaceutical industry in India is one of the fastest growing industry which expected to expand at CAGR of 12.89% over 2015-20 to reach USD 55 billion and USD 100 billion by 2025.
Beetroot Powder Market Segmentation
By Product Type
By End-use Industry
By Distribution Channel
By Packaging Type