Beetroot Powder Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3977
Beetroot Powder Market size is anticipated to expand at a commendable pace over 2021-2027. This robust market growth is driven by the shifting preference from synthetic nitrates and nitrites to natural beetroot powder and other extracts across the meat industry worldwide. In addition, experts recommend the use of natural ingredients as an alternative to modern cosmetic products, including dry blush, for consumers with sensitive skin and allergies. This factor will push the demand for beetroot powder from skin care and other applications in the cosmetology sector over the upcoming years.
Beet powder refers to a red or bright pink product made from dried, ground beets, which are often marketed as a superfood by natural food retailers. The product can be mixed with water and added to sauces, smoothies, or baked goods owing to its rich nutrient content. Consumers are growing increasingly aware about beetroot powder benefits, resulting in its widespread usage as a natural health-boosting supplement.
With regards to the end-use industry, the food and beverage segment is expected to account for a major share by 2027. This is a result of the growing adoption of beetroot extract powder in place of carmine in producing sausages, owing to its ability to enhance their sensory appearance, flavor, color, and overall acceptance. Furthermore, the accelerating consumption of beetroot juices to maintain a healthy weight, provide glowing skin, and promote heart health, among other benefits will add impetus to segmental expansion over the projected timeframe.
From a regional perspective, the Europe beetroot powder market will exhibit a strong growth rate through 2027. This is attributable to the availability of favorable policies regarding the use of betanin or beetroot red in the region. For example, beetroot extract, designated by the E162 label, has gained the approval of the European Union regulatory agencies for use as a natural colorant of food products.
Prominent beetroot powder market players include Venkatesh Naturals, Cultivator Natural Products, Natures Aid, Yesraj Agro Exports, Super Sprout, Nature’s Way Products (Dr. Willmar Schwabe GmbH), and Bioglan, among others. Strategic mergers and acquisitions and new product launches are among the initiatives being undertaken by these industry players to expand their business portfolio across the global market.
Closure of Supermarkets Amid COVID-19 to Impact Beetroot Powder Market Trends:
In the wake of the coronavirus pandemic, there has been a considerable disruption in food systems, livelihoods, and diets across the globe. Due to the temporary closure of the supermarkets and other retail stores to limit disease transmission, shopper satisfaction fell over the past months. As per the American Customer Satisfaction Index’s statistics, over 75% of the major retailers across supermarkets and other segments witnessed a decline in customer satisfaction, which has created hindrance to the sales of beetroot powder-based products in recent times.
However, there has been rising awareness about the benefits of beetroot smoothie for vasodilation, blood supply, as well as optimal supply of oxygen to the lungs. It can be used as highly anti-inflammatory ingredient in drinks and can naturally reduce blood pressure. Since maintaining heart and lung health is of utmost importance for consumers during the COVID-19 pandemic, the beetroot powder industry is likely to regain gradual traction over the coming years.
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