According to a new report, published by KBV research, The Global Beetroot Powder Market size is expected to reach $786.9 million by 2031, rising at a market growth of 9.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 5,577.7 tonnes experiencing a growth of 11.6% (2020-2023).
Beetroot powder is a dietary supplement made by drying and grinding whole beetroots into a fine powder. Beetroots, the root portion of the beet plant (scientifically known as Beta vulgaris), are rich in essential nutrients like vitamins, minerals, antioxidants, and dietary nitrates. These nutrients remain intact during the dehydration and grinding, making beetroot powder a convenient and nutrient-dense alternative to fresh beets.
The Conventional segment is registering a CAGR of 8.7% during the forecast period. This can be attributed to the wider availability of conventionally grown beetroot and the relatively lower cost of production compared to organic alternatives. Conventional beetroot powder remains popular for consumers looking for a cost-effective, nutrient-dense product, particularly in markets where price sensitivity is a key factor.
The Food & Beverage segment led the Global Beetroot Powder Market by Application in 2023; thereby, achieving a market value of $289.2 Million by 2031. The growing demand for natural food colorants, functional ingredients, and health-conscious products drives the segment's growth. The rising trend of clean-label products, where consumers seek natural and free ingredients from artificial additives, has significantly boosted the incorporation of beetroot powder into various food items.
The Supermarkets/Hypermarkets segment is growing at a CAGR of 8.5 % during the forecast period. This can be attributed to the abundance and accessibility of beetroot powder in these large retail outlets, which provide a diverse array of health and wellness products. The presence of well-established supply chains and the ability of supermarkets and hypermarkets to reach a diverse consumer base have made them a dominant distribution channel for beetroot powder.
Full Report: https://www.kbvresearch.com/beetroot-powder-market/
The North America region dominated the Global Beetroot Powder Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $287.4 Million by 2031. The Europe region is anticipated to grow at a CAGR of 8.9% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 9.7% during (2024 - 2031).
By Product (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Million, 2020-2031)
By Geography (Volume, Tonnes, USD Million, 2020-2031)
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