Global Beta Carotene Market was valued at US$ 442.1 Mn in 2018 and is expected to reach US$ 701.5 Mn by 2026, at a CAGR of 5.94 % during a forecast period.
Global beta carotene market is witnessing growth on the back of increasing health concerns and the increased importance of intake of beta carotene. Additionally, the shift in trends towards natural ingredients is another factor driving towards market growth. But, because of excessive intake of beta carotene can cause various effects on the human body, therefore, it is recommended to consume in prescribed quantities only.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
However, growing demand from emerging economies and increasing demand for algae-based carotene in functional and health food provide huge market opportunities.
Food and beverages segment is expected to dominating the market during the forecast period. Growth is projected to be highest from the supplements segment which is projected to grow at highest CAGR in terms of volume from 2019 to 2026 owing to increasing health concerns, growing awareness about the benefits of beta carotene and busy lifestyle.
Europe held the largest market share of nearly 38% in 2018. Increasing food and beverage, pharmaceutical, and personal care industries have resulted in the expansion of the regional beta carotene market. The APAC is expected to register the fastest CAGR of 4.8% in terms of consumption over the forecast period. Expansion of food and beverages, pharmaceutical, and animal feed among other end-use industries in developing economies such as China and India is contributing to the increase in regional demand for beta carotene.
A recent development in the global market for beta carotene: In November 2017, Chr. Hansen had extended its patented encapsulation technology to raise the stability of beta carotene color pigments for its application in beverage products. The technology aided beverage manufacturers to use the ingredient in smaller quantity so cost-effective measure with maximized brightness.
Several major players are operating in this market. BASF is the leading player in the market. BASF took over Cogniz, a prominent algae-derived producer in 2010. DSM acquired Vitatene, which was a main fermentation-derived beta carotene producer. This helped further support the companies’ market position.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Beta Carotene Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Beta Carotene Market.
Scope of the Global Beta Carotene Market
Global Beta Carotene Market, By Source
• Algae
• Fungi
• Palm oil
• Synthetic
• Others
Global Beta Carotene Market, By Application
• Food & Beverage
• Animal Feed
• Dietary Supplements
• Pharmaceuticals
• Others
Global Beta Carotene Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Beta Carotene Market
• Royal DSM
• Sensient Technologies
• Chr. Hansen
• BASF
• FMC Corporation
• Foodchem International
• D.D. Williamson & Co., Inc.
• Merck & Company, Inc.,
• Lycored Corp.
• Flavorchem Corporation,
• BioExtract
• Nutralliance
• Zhejiang Medicine Co., Ltd
• Parry Nutraceuticals.
• Overseal Natural Ingredients Ltd.,
• Pharmline Inc.,
• Mera Pharmaceuticals Inc.
• Valensa International LLC
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