The new market report “Beetroot Powder Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” by Future Sights predicts that the market for beetroot powder will experience stable growth of 5 percent over the next few years. This is partly due to the growing global demand for vegan and gluten-free products.
One of the main reasons for the market growth of beetroot powder is the growing popularity of beetroot juice. This is a very popular product for many people who rely on vegan or gluten-free food, and it is also known for its positive health properties. Beetroot powder is gaining popularity among athletes due to its purifying properties and longer shelf life. Furthermore, more and more natural raw materials such as beetroot powder are being used in the cosmetics industry, which is further boosting industry growth.
Facts & Figures
The report divides the beetroot powder market into seven regions: North America, Latin America, Eastern Europe, Western Europe, Middle East, Asia-Pacific and Japan. A growth rate of around 5.1 percent is forecast for North America. The North American market value is estimated at 4,906.5 million USD by 2027. On the other side of the globe, the market for beetroot powder in Western Europe is estimated at 5,166.1 million USD by the end of 2027 – a growth rate of 5.3 percent within the forecast period.
Two main forms of beetroot powder are generally used. The first is conventional beetroot powder, with an expected market value of 4.310.60 million USD by 2027, and the second is organically grown beetroot powder, whose market value is estimated at 13.7 billion USD by 2027. A significantly higher value is therefore expected for the latter.
With regards to the end consumer, the report is divided into two sections: “Food & Beverages” and “Industrial”. In the “Industrial” category, which is further divided into sectors such as cosmetics, textiles, chemicals and pharmaceuticals, the report forecasts a growth rate of 4.7 percent by 2027.
The report includes the following companies: Windmill Organics Ltd, Lush Retail Limited, STADA Arzneimittel AG, Mountain Rose Herbs, Changsha Vigorous Tech Co.Ltd, Z Natural Foods, LLC, Indigo Herbs, MARUDHAR FOODS PRIVATE LIMITED, Ecuadorian Rainforest, LLC, and Organic Herb Inc.