Beetroot is a PE exclusive food item added in Update 0.8.0. It is obtainable by planting Beetroot Seeds on hoed soil or grass. Beetroot is used to make Rose Red dye on the Crafting Table, and Beetroot Soup by crafting it with 1 bowl and 6 beetroot. It restores one half heart alone and heals 4 half hearts in soup form. Making plain beetroot worth 1/2 of what it is worth in soup form. Beetroot has a 1/15 chance of being farmed.
Beetroots can be used to breed Pigs, however Pigs won't follow you while you're holding them. They will be attracted towards Carrots however. This is a pocket edition exclusive feature since Beetroots aren't in PC or the console versions.