Analysis of Betanin market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Betanin or beetroot red, is a red colored pigment used as a food dye, which is obtained from beetroot. The concentration of betanin in red beet could reach up to 300-600 mg/kg. Beetroots are strained, diffused or pressed at a low pH to produce water-soluble betanin. It is widely used as a natural colorant in the food, cosmetics, and paint industries. As color is the most important additive in food items, it is very important to add a color which is conformed to consumer preferences and acceptance. There are different sources of betanin, which include red or yellow beet, prickly peer, colored Swiss chard, grain amaranth, and cactus fruits.
However, red beet betalain is composed of two groups, i.e. red-violet betacyanin (e.g. betanin 25 and isobetanin) and yellow betaxanhin (e.g. vulgaxanthin I and II). Betanin also finds application in the pharmaceutical industry as a medicine for some diseases such as cancer, low blood pressure, and digestive problems. Due to its phytonutrient anti-cancer properties, the demand in the healthcare industry has increased substantially in the last few years. Some of the other applications of betanin are powdered soft drinks, colouring ice cream, additives in sugar confectionary, etc. Betanin has a long shelf life, which is why it is used in frozen products or products in the dry state.
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The demand for betanin is expected to grow substantially with the rise in the consumption of food containing natural colors. Increasing consumer awareness towards the use of organic products is another major factor that may boost the sales of betanin during the forecast period. Also, in the pharmaceutical industry, betanin has emerged as a very effective medicine for some diseases, including cancer. All these factors will contribute to the growth of the global betanin market. Some of the restraints present in the market are easy degradation of betanin in the presence of light, temperature, and pH value. Also, it is slightly costly as compared to its other artificial food colorants. It has been noted that, excess consumption of beetroot could be harmful to a pregnant woman, due to its high detoxifying properties. Increasing consumer inclination towards a healthier lifestyle and organic food products may create enormous opportunities for new entrants and existing manufacturers in the global betanin market. Major food processors are opting for betanin as a natural food colorant for their branded products, rather than using other artificial alternatives.
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The North American and European regions dominate the betanin market in terms of production capacity. The region has large number of manufacturers with high production capacities. Also, new entrants could gain significant market share in North America betanin market through offering innovative product suitable wide range of applications. It is also noticed that emerging economies such as Brazil, India, and Argentina also represent the high growth opportunities in the betanin market. Latin America and Asia-Pacific region has high growth potential due to increasing consumption of different end use products. Companies are investing huge amounts of money in these countries to set up manufacturing and sales facilities so as to boost their sales and increase their market presence. Japan and MEA also offer untapped growth potential in the betanin market.
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The global betanin market was valued at US$ 91 million in 2021
The worldwide sales of betanin are expected to reach US$ 120 million by 2028.
Global demand for betanin is projected to develop at a CAGR of 4.7% during the forecast period.
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