My diet:
Comparison

Allura Red AC vs Beetroot Red

The short answer
Beetroot red is the clear pick for safety: it's a vegetable extract with no warning label. Red 40 is cheaper, brighter and survives heat and light, which is why it's still common in candy and drinks.
Side by sideAllura Red AC (Red 40)Beetroot Red (Betanin)
Safety score35/100 Best to avoid92/100 Generally safe
Made fromPetroleum-based synthesisBeet juice ✓ Better
EU warning labelRequiredNot required ✓ Better
ShadeBright cherry redPink to purplish red
Heat and light stabilityVery stable ✓ BetterFades with heat, light and time
PriceLow ✓ BetterHigher
Safety score3592 ✓ Better

Swapping one for the other

At home, beet powder or a few drops of beet juice color frosting, smoothies and pink pancakes. It fades in long, hot baking, so expect a duller red in cakes.

Common questions

Does beetroot red taste like beets?

At coloring amounts, barely. In large amounts it can add a slight earthy note.