The worldwide Beta Carotene market size arrived at a valuation of US$ 337.3 Mn in 2022. The extended request for fundamental nutrients with medical advantages is projected to be the market’s essential development driver. The general deals of Beta Carotene items are projected to develop at a powerful CAGR of 6.7% somewhere in the range of 2022 and 2032, adding up to around US$ 644 Mn toward the finish of 2032.
Beta carotene is an organic pigment found mainly in plants, fungi, and fruits. It’s responsible for the red/yellow color seen in fruits and vegetables. Beta carotene is a subset of carotene, a member of terpenoids, which can be obtained either from a natural source or synthesized via biochemical reaction. Beta carotene is a rich source of vitamin A, an essential vitamin with health benefits such as boosting the immune system, correction of eye defects (night blindness), and reproduction.
Beta carotene can also act as an antioxidant that inhibits chemical oxidation leading to cancer. The various health benefits associated with beta-carotene are driving forces fueling the growth of the beta-carotene market. Beta carotene also helps in the treatment of skin diseases caused by the exposure of skin to excessive sunlight.
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Growing demand for beta carotene from various industries like the food industry, cosmetic industry and pharmaceutical industry is anticipated to drive the global beta carotene market forward over the forecast period. Furthermore, the ease in accessing beta carotene is another force pushing the forward since key players don’t need to stress themselves to obtain it.
Beta Carotene Market Driven by Growing Consumers’ Awareness Regarding the Health Benefits of the Product
There are many health benefits associated with the consumption and application of beta carotene products. Beta carotene possesses antioxidant properties which help in the prevention of skin aging, cancer, and other chronic illness. The vitamin A content found in beta carotene also provides some health benefits for the product. Deficiency diseases like night blindness and xerophthalmia can be solved by regular intake of beta carotene products. Beta carotene market is slated to witness a surge over the forecast period due to the growing awareness of the health benefits of beta carotene products.
Increasing Application in Several End User Sector
End-user sectors such as the pharmaceutical industry, food, and beverage industry, cosmetics industry, and many others use beta carotene to produce various products due to the health benefits associated with it. The cosmetic industry often uses beta carotene in skincare products because of its ability to help in the treatment of skin diseases, especially those caused by exposure of the skin to ultraviolet rays from the sun. Besides, the pharmaceutical industry employs beta carotene in the manufacture of dietary supplements.
Beta Carotene Market Restraint
The global beta carotene market is anticipated to witness a decline in demand owing to the rise in awareness regarding the adverse effect of artificial or synthetic products. Beta carotene is produced in large quantities for commercial purposes via chemical synthesis. Manufacturers can’t meet the demand of consumers if they continue sourcing beta carotene through the natural source.
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Beta Carotene Market: Region-wise Analysis
Due to the rise in demand for dietary supplements and skincare products, North America is the largest market for beta carotene. The region is expected to continue at this pace over the forecast period. The United States accounts for the largest share of the total revenue generated in North America. Europe is the second-largest market because of the large number of producers and consumers of beta carotene products. Besides, the innovation of the latest technologies within the region boosts the beta carotene market within the area. Both North America and Europe are expected to remain dominant over the forecast period.
The Asia Pacific and Latin America are a fast-growing market for beta carotene owing to the growing number of manufacturers within the regions. Key players in the industry source their beta carotene raw materials or ingredients from these regions, and this will fuel the growth of the industry there.
Beta Carotene Market: Competitive Landscape
- BASF SE
- Kemin Industries Inc.
- Algatechnologies Ltd.
- Chr. Hansen A/S
- Phytone Limited
- Cyanotech Corporation
- Royal DSM N.V., LycoRed Ltd.
- Overseal Natural Ingredients Ltd.
- Pharmline Inc.
- Sensient Technologies Corporation
- Mera Pharmaceuticals Inc.
- Valensa International LLC
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Report Highlights
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Beta Carotene Market Segment Analysis
The global beta carotene market can be segmented on the following basis:
By Source
- Natural
- Synthetic
By End-Use
- Food and Beverages
- Cosmetic Industry
- Animal Feed
- Pharmaceutical and Dietary
- Supplements
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