Global Beta Carotene Market by Source (Algae, Fungi, Palm oil, Synthetic, Others), Application (Food & Beverage, Animal Feed, Dietary Supplements, Pharmaceuticals, Others), and Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) is expected to reach US$ 701.5 Mn by 2026, at a CAGR of 5.94 % during a forecast period.
Growing demand for beta carotene from end-use industries, such as food and beverages, cosmetics, dietary supplements, and animal feed is resulting in the development of new products and technologies. In food and beverages, it is usually used as a food coloring. In personal care and cosmetic products, it is used in the invention of bath products, aftershave lotions, cleansing products, suntan products, makeup, hair conditioners, shampoo, skin care products, and shampoos.
Synthetic segment is expected to grow at the highest CAGR during the forecast period.
Synthetic beta carotene segment accounted for more than 70% of the market share in terms of volume as well as revenue. However, growth is projected to highest from the natural segment which is projected to grow at a rate of 4.6% in terms of revenue during the forecast period from 2018-2026.
Europe is anticipated to be the leading region in the global Beta Carotene market during the forecast period.
Europe is projected to grow at a rate of 3.1% in terms of volume from 2018-2026. The U.S is the largest market globally for beta carotene and is estimated to grow at a rate of 3.5% in terms of revenue. The APAC region is projected to witness the fastest growth rate in both, volume and revenue.
Key players operating the Global Beta Carotene Market are 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
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Beta Carotene Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Beta Carotene Market positioning of competitors.
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