Global Statistics Representing Beetroot Powder Market Scenario
Beetroot powder is obtained by grinding and milling of dried beetroot. It is also known as red beet, golden beet or garden beer. Beetroot powder is rich sources of vitamins and minerals such as Vitamin C, Vitamin A and it is also a good source of Iron, Potassium, and Magnesium.
Biologically, beetroot powder offers several benefits such as it supports and boosts immune system, improves skin health, and helps to maintain strong bones. It is also consumed to maintain and maintain blood pressure, better liver functioning and weight loss.
Beetroot powder market is expected gaining major traction during forecast period 2019-2026, owing to increasing attention to healthy life style, increasing demand for organic food, and environmental and ethical issues. For instance, according to The Institute of Food Technologists (IFT), the worldwide sales of naturally healthy foods reached USD 253 billion in 2017. Additionally, growing spending on food and beverage is expected to augment the global demand for beetroot powder. For instance, according to United Nations Department of Economic and Social Affairs, in 2016, the total global population was 7.3 billion in 2016 and it is projected to grow at 9.7 billion by 2050 and simultaneously food demand is expected to increase in between 59% to 98%.
Global beetroot powder market is segmented by product type, end-use industry, and distribution channel, and packaging type.
By product type, beetroot powder market is further segmented into organic beetroot and conventional beetroot powder.
Among product type, conventional beetroot powder market is expected to witness considerable growth during forecast period 2019- 2026, attributed to versatile applications of the beetroot in various booming industries such as food and beverage and cosmetics industry. The food and beverage sector is the major consumer of beatroot powder..
Among end use industry, pharmaceutical industry is one of the major drivers for the growth of beetroot power market as it is predominantly used in the production of medicinal owing to For instance, according to Indian Brand Equity Foundation, the pharmaceutical industry in India was valued at USD 33 billion in 2017 and it is projected to reach USD 55 billion with a CAGR of 22.4% rate.
North America is likely to lead global beetroot powder market during forecast period 2019-2026, owing to growing health consciousness, spending for healthy life style and increasing demand for organic products. For instance, as stated by Organic Trade Association (OTA), the sales of organic products, both food and non-food were valued at USD 46.23 billion in 2016 and it grew at 6.4% annually which accounts to UDS 49.4 billion in 2017.
Europe is expected to dominate the global beetroot powder market during forecast period 2019–2026. This is attributed to rising demand for beetroot powder from cosmetics industry, as beetroot powder is becoming essential ingredient in several cosmetic and personal care products. For instance, statistical information given by Cosmetic Europe the personal care association, Europe is largest market for cosmetic and personal care market which was valued USD 87.78 billion in 2017.
Asia Pacific is likely to witness a considerable growth for beetroot market in upcoming years, attributed to increasing demand for organic products and growing producers of the organic food, for instance, according to Research Institute of Organic Agriculture FiBL, India continues to be the highest number of producers i.e. 835200 and in addition to that, according to same sources, China's organic food market was valued at USD 6.67 in 2016.
Some of the key players in the global Beetroot Powder market are NutraMarks, Inc. (United States), Super Sprout LLC (United States), Radiance Ltd., Yesraj Agro Exports Pvt. Ltd. (India), Bioglan (Australia), Ecuadorian Rainforest LLC. (USA), Z Natural Foods (USA), Nature's Way Products LLC. (USA), Botanical Ingredients Ltd. (United States), Marudhar Foods Private Limited (India), Organic Herb Inc. (China), Indigo Herbs (UK), Windmill Organics Ltd. (UK), Radiance Ltd. (United States) and others.
Beetroot Powder Market Segmentation
By Product Type
By end-use Industry
By distribution channel
By packaging type