“Global Beetroot Powder Market to reach a market value of USD 786.9 Million by 2031 growing at a CAGR of 9.1%”
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).
The growth in Asia Pacific region is fueled by several factors, including the rising awareness of natural health supplements, expanding middle-class populations, and increasing consumer interest in superfoods. Countries such as China, Japan, and India have witnessed a surge in demand for plant-based supplements and functional foods, driven by the shift toward healthier lifestyles and dietary habits. Also, the Indian market would utilize 115.05 tonnes of this powder in Cosmetics & Personal Care applications by 2031. Consequently, the Asia Pacific region would acquire nearly 30% of the total market share by 2031.
Beetroot powder, renowned for its high content of essential vitamins, minerals, and antioxidants, has captivated the attention of health-conscious individuals. Moreover, a prominent study conducted by Queen Mary University of London in 2010 demonstrated that regular consumption of beetroot juice or powder could significantly reduce blood pressure, offering a natural solution for those at risk of hypertension. Hence, these developments are driving the growth of the market.
Additionally, Functional foods and beverages have experienced a significant increase in demand as consumers seek out foods that offer health benefits that surpass fundamental nutrition. Beyond beverages, this powder is increasingly added to energy bars, snacks, and dietary supplements. Thus, these factors will aid in the expansion of the market.
However, the production of this powder is highly dependent on the availability and pricing of fresh beetroots, which are susceptible to various external factors that can impact their supply. Price volatility is also significantly influenced by supply chain disruptions. Transportation delays, fuel price hikes, and logistical issues can complicate getting fresh beets from farms to production facilities. Hence, the inability to maintain consistent and affordable pricing can stifle consumer demand, limit market penetration, and slow the growth of the market.
Based on product, the market is bifurcated into conventional and organic. The organic segment procured 46% revenue share in the market in 2023. In terms of volume, the segment registered2,313.1 tonnes in 2023. The growing consumer preference for clean-label and pesticide-free products has driven the demand for organic powder.
On the basis of application, the market is classified into food & beverage, nutraceuticals & dietary supplements, cosmetics & personal care, and others. The nutraceuticals & dietary supplements segment recorded 29% revenue share in the market in 2023. Nutraceuticals, which integrate the nutritional advantages of food with the potential therapeutic effects of pharmaceuticals, have experienced significant growth in prominence in recent years.
By distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, online, and others. The convenience stores segment garnered 27% revenue share in the market in 2023. In terms of volume, the segment recorded 1,505.7 tonnes in 2023. Convenience stores cater to consumers seeking quick and easy access to health products in local, often urban settings.
Free Valuable Insights: Global Beetroot Powder Market size to reach USD 786.9 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured 38% revenue share in the market in 2023. The region's widespread adoption of functional foods and dietary supplements, the strong consumer emphasis on health and wellness, and the region's increased demand for natural constituents in the food and beverage industry are all contributing factors to this dominance.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 407.7 Million |
| Market size forecast in 2031 | USD 786.9 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 9.1% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2020 to 2031 |
| Number of Pages | 337 |
| Number of Tables | 710 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Distribution Channel, Application, Region |
| Country scope |
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| Companies Included | Biofinest LLC, Supergarden, Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), PharmaCare (New Zealand) Ltd., GO Superfoods Ltd., Natures Aid, Botanical Ingredients Ltd., Terrasoul Superfoods, Yesraj Agro Exports Pvt. Ltd. and Cultivator Natural Products Pvt. Ltd. |
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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![LAMEA Beetroot Powder Market Size, Share, Report [2031]](https://www.kbvresearch.com/upload/cover/lamea-beetroot-powder-market.jpg "LAMEA Beetroot Powder Market Size, Share, Report [2031]")
![Europe Beetroot Powder Market Size, Share, Report [2031]](https://www.kbvresearch.com/upload/cover/europe-beetroot-powder-market.jpg "Europe Beetroot Powder Market Size, Share, Report [2031]")
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