The growing use of beet red color for numerous applications in different industries, for instance, food and beverage, cosmetic, and pharmaceutical has been predicted to create revenue generation opportunities in the beet red color market in the foreseeable years. The food and beverage industry has been serving as one of the prominent end-user industries in the market owing to the rising use of these products in the industry.
The use of synthetic colors instead of natural colors is likely to cause harm to an individual’s health. In order to tackle this aspect, various burger makers are using beet red color. So, the factor is expected to bolster sales opportunities in the beet red color market in the coming years.
The sudden outbreak in the cases of COVID-19 is likely to impact growth avenues in the beet red color market owing to disruption in the supply chain along with shutting down of the end-use industries because of lockdown restrictions. However, fewer hospitalization numbers and mass vaccination drives are likely to contribute to growth avenues in the market.
Asia Pacific Anticipated to Lead in Beet Red Color Market
The Asia Pacific, among other regional areas, has been expected to grow at a rapid pace in the beet red color market in the forthcoming years. These growth impetuses in the regional market are attributed to the increasing presence of the food and beverage industry that is bringing promising sales avenues to the market.
The increasing count of domestic as well as international players is vying for the larger consumer base. These players are also involved in numerous R & D activities along with some strategic collaboration. Along with this, they also contribute to the expanded growth trajectory of the market. Some of the key players serving in the beet red color market include Roha, Kalsec, Chr. Hansen, Nigay, and Sensient.