The global beetroot powder market is expected to reach a value of more than US$ 25 Bn expanding at a CAGR of 5.0% over the forecast period, i.e. 2017–2027.
Albany, NY -- (SBWIRE) -- 12/12/2017 -- According to a new research report added to the comprehensive repository of Market Research Hub (MRH), the global beetroot powder market is likely to grow at a CAGR of nearly 4.7% through 2027-end in terms of volume. The projected production of beetroot powder is likely to reach 1.13 million tons by the end of 2027-end. These insights are according to a new research report "Beetroot Powder Market: Food & Beverages End User Segment Expected to Gain 80 Basis Points over the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)".
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According to the report, beetroot powder is yet to gain widespread popularity, and continues to be at a nascent stage. The demand for beetroot powder has been growing on account of its application in beetroot juice, which in turn is riding on the coattails of the health and wellness trend. In the recent past, there has been an increase in awareness on the ingredients, with consumers, especially in developed countries, carefully scouring the label and packs of products to check for clean-label and organic. This has led manufacturers to broaden their range of organic and healthy offerings, which has led to increase in production of beetroot juice. This in turn has created significant opportunities for beetroot powder manufacturers.
In addition to the broader health and wellness trend, the demand for beetroot powder is likely to remain significant on account of its wide ranging applications in the manufacture of other products. Beetroot powder is widely used as an ingredient in the manufacture of mixed fruit drinks and low-calorie diet products. Among the two widely available varieties of beetroot, demand for organic beetroot is significantly higher than conventional beetroot. Consumer preference for organic beetroot is a key factor that is driving the demand.
Demand for beetroot powder remains significant in the US and Europe on account of high awareness among consumers about its benefits. Sensing the evolution in demand, beetroot powder manufacturers are tying up with food and beverage manufacturers and strengthening their supply chains to tap into the emerging opportunities in this field.
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Use of beetroot powder is significant in two end-use sectors – food & beverages and industrial sector. Demand for beetroot powder in industrial segment is likely to increase at a CAGR of 4.7% in terms of value during the forecast period. Some of the leading companies in the beetroot powder include Changsha Vigorous Tech Co., Ltd, Indigo Herbs, STADA Arzneimittel AG, Lush Retail Limited, Z Natural Foods, LLC, Windmill Organics Ltd., Mountain Rose Herbs, MARUDHAR FOODS PRIVATE LIMITED, Ecuadorian Rainforest, LLC, and Organic Herb Inc.
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