Global Beetroot Powder Market: Snapshot
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.
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Global Beetroot Powder Market: Growth Dynamics
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.
Global Beetroot Powder Market: Competitive Analysis
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:
- Nature’s Way
- Yesraj Agro Exports
- Super Sprout
- Cultivator Natural Products
- Natures Aid
- Venkatesh Naturals
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Global Beetroot Powder Market: Regional Assessment
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.