Beta Carotene Market – Global Industry Analysis and Forecast (2022-2029)

Beta Carotene Market was valued at US$ 252.54 Mn in 2021 and is expected to reach US$ 319.91 Mn by 2029, at a CAGR of 3% during a forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

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Beta Carotene Market Dynamics:
The 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 the market growth. But, because excessive intake of beta carotene can cause various effects on the human body, therefore, it is recommended to consume in prescribed quantities only.

However, growing demand from emerging economies and increasing demand for algae-based carotene in functional and healthy food provide huge market opportunities.
Beta Carotene Market Segment Analysis:
The 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 the highest CAGR in terms of volume from 2022 to 2029 owing to increasing health concerns, growing awareness about the benefits of beta carotene, and a busy lifestyle.
Beta Carotene Market Regional Insights:
Europe contributed the largest market share of nearly 38% in 2021. 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.
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Global Beta Carotene Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 252.54 Mn.


Forecast Period 2022 to 2029 CAGR:
3%
Market Size in 2029:
US $ 319.91 Mn.


 Segments Covered:
by Product
• Synthetic Beta Carotene
• Natural Beta Carotene


by Application
• Food & Beverage
• Animal Feed
• Dietary Supplements
• Pharmaceuticals
• Others


by Source
• Algae
• Fungi
• Palm oil
• Synthetic
• Others


by Form
• Powder
• Liquid



Beta Carotene Market, By Region:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Beta Carotene Market Key Players:
• 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

Frequently Asked Questions:

1. Which region has the largest share in Global Beta Carotene Market?
Ans: Europe region holds the highest share in 2021.

2. What is the growth rate of Global Beta Carotene Market?
Ans: The Global Beta Carotene Market is growing at a CAGR of 3% during forecasting period 2022-2029.

3. What is scope of the Global Beta Carotene market report?
Ans: Global Beta Carotene Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Beta Carotene market?
Ans: The important key players in 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

5. What is the study period of this market?
Ans: The Global Beta Carotene Market is studied from 2021 to 2029.