The global beetroot powder market is predicted to gather highest amount in revenues during the forecast period of 2020 to 2030. The market is growing on the back of growing use of beetroot powder in various industries including cosmetics, pharmaceutical, and food. Generally, the taproot portion of a beet plant (including garden beet, table beet, red beet, and golden beet) is used to obtain beetroot powder. The taproot is dried and then grinded or milled to form beetroot powder.
An upcoming research report from TMR on the beetroot powder market is an extensive study of key elements such as opportunities, challenges, drivers, and restraints of this market. Apart from this, the report offers reliable data and statistics on revenues, volume, and shares of the market for beetroot powder. Thus, the report works as a valuable guide of the global beetroot powder market for the forecast period of 2020 to 2030.
The global beetroot powder market is segmented on the basis of application and region. Based on application, the market for beetroot powder is classified into pharmaceuticals and nutraceuticals, cosmetics, food coloring, and others.
In recent period, major population from all across the world is inclined toward the use of products manufactured using natural ingredients. Key reason for this shift is rising awareness about the harmful effect of chemical or synthetic ingredients in various products. As a result, there is remarkable growth in demand for beetroot powder from cosmetics and personal care products. This factor is working as a big positive for the growth of the global beetroot powder market.
Beetroot powder is gaining traction in food industry owing to a wide range of health benefits beetroot offers. It is rich in calcium, dietary fiber, potassium, antioxidants, manganese, iron, and other nutrients. Apart from this, beetroot powder is gaining popularity as a natural food coloring agent. Beetroot powder offers natural red color to food products without changing the taste of that food item. As a result, beetroot powder is increasingly used in diverse food products including cupcakes, red velvet cake, sauces, gravies, and soups. The aforementioned factors are suggestive of the inflow of increased revenues into the global beetroot powder market in the years to follow.
The global beetroot powder market is moderately fragmented in nature. Presence of many active players denotes that the competitive landscape of the market for beetroot powder is highly intense. Several vendors working in this market are focused on improving the product quality. Apart from this, many players are growing efforts to attract new customer base by offering attractive packaging of their products. This aside, the growing number of mergers, acquisitions, partnerships, and collaborations indicates that the global beetroot powder market is expanding at rapid pace.
The list of key players in the global beetroot powder market includes:
The global beetroot powder market is spread across five key regions, namely, North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of them, North America is one of the lucrative regions offering noteworthy demand avenues in the market for beetroot powder. In recent period, the region is witnessing upward graph of demand for natural food coloring agents from food and beverages market. This aside, increased awareness about the side effects of synthetic food colors is fueling the growth of the beetroot powder market in this region.