“Beetroot Powder Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017–2027)” is the new report published by Future Market Insights. According to this report, the beetroot powder market has been experiencing significant growth; however, it is still at a growing stage compared to other products in the market. Growing popularity of beetroot juice is one of the significant reasons for the growth of the global beetroot market. The global beetroot powder market is expected to exhibit a robust CAGR of 5.0% in terms of value, over the forecast period. In terms of volume, the global beetroot powder market stood at 6, 90,000 Tons in 2016, and is expected to reach 1,138,232 Tons by 2027 end, at a CAGR of 4.7%.
Global Beetroot Powder Market: Drivers
- Growing preference of beet root powder by athletes
- Growing preference for organic beet root powder products
- Longer shelf life eases usage and transportation
- Versatility of applications of the beetroot powder
- Increasing demand for gluten free and vegan products
- Increasing demand for cosmetics made with natural ingredients
- Increasing demand for vibrancy in appearance of food products
- Increasing demand for ingredients with detoxification properties
- Increasing demand for ingredients with detoxification properties
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Global Beetroot Powder Market: Forecast by Region
This report has covered seven regions such as, North America, Latin America, Eastern Europe, Western Europe, APAC, Japan and MEA. North America beetroot powder market is expected to exhibit a decent CAGR of 5.2% and 5.1% in terms of value and volume respectively. North America beetroot powder market is estimated to be valued at US$ 4,906.5 Mn by the end of 2027. On the other hand Western Europe beetroot powder market is estimated to be valued at US$ 5,166.1 Mn by the end of 2027 and is expected to expand at a CAGR of 5.3% over the forecast period.
Global Beetroot Powder Market: Forecast by Product Type
There are two segments namely organic and conventional. The organic beet root powder product type is expected to show a high absolute $ opportunity of US$ Mn 5,149.97 over the forecast period. Organic beetroot powder market is estimated to be valued at US$ 13.70 Bn by the end of 2027 and is expected to expand at a CAGR of 5.1% over the forecast period. Conventional beetroot powder market is expected to exhibit a CAGR of 4.5% in terms of volume over the forecast period, and is also expected to witness an absolute $ opportunity of US$ 4,310.60 Mn.
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Global Beetroot Powder Market: Forecast by End Use
On the basis of end use segment the global beetroot powder segment is mainly categorized in to food & beverages and industrial segments. Food & beverages segment is further sub-segmented into bakery, confectionary, food colorants, sweeteners and Others. On the other hand, industrial segment is further sub-segmented into chemicals, nutraceuticals, pharmaceuticals, cosmetics, and textiles. Industrial segment beetroot powder market is estimated to be valued at US$ 8,573.4 Mn by the end of 2027 and is expected to expand at a CAGR of 4.7% over the forecast period.
Global Beetroot Powder Market: Key Players
The key players operating in the global beetroot powder market are as follows-
Windmill Organics Ltd., Lush Retail Limited, STADA Arzneimittel AG, Mountain Rose Herbs, Changsha Vigorous Tech Co., Ltd, Z Natural Foods, LLC, Indigo Herbs, MARUDHAR FOODS PRIVATE LIMITED, Ecuadorian Rainforest, LLC, and Organic Herb Inc.