The beta-carotene market size is projected to grow from $1.01 billion in 2023 to $1.67 billion in 10 years. The worldwide beta-carotene market is driven by a variety of end-user applications such as processed beverages, nutritional supplements, etc.
Newark, June 17, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the beta-carotene market will grow from $1.01 billion in 2023 to $1.67 billion by 2033. The market for beta-carotene will developed in response to the increased demand for food coloring agents. Consumer awareness towards pure ingredients is promoting market growth.
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Beta-Carotene Market Key Overview
The Europe region will account for the largest market size during the forecast period.
The Europe region will hold a significant market share due to the rapid growth of end-user industries. This is due to the growing trend of consuming clean label products made from natural sources. Manufacturers of carbonated beverages, bakery and confectionery products, and processed foods prefer to add food coloring agents, which has led to the high use of beta-carotene in countries of the region. Additionally, the nutraceutical industry in the region is booming, which, in turn, offers lucrative opportunities for the beta-carotene market.
The synthetic segment is expected to grow the market during the forecast period.
The resource segment is divided into natural and synthetic. The natural segment further includes yeasts, algae, fruits and vegetables, bacteria and others. The synthetic segment is expected to grow the market during the forecast period. The predominant synthetic beta-carotene component is all-trans-β-carotene, a red crystal or crystalline powder. In addition, there may be trace levels of cis-isomers and additional carotenoids such as β-apo-12′-carotenal, β-apo-10′-carotenal and all-trans-retinal.
The dietary supplements segment is expected to grow the market during the forecast period.
The application segment is divided into food and beverages, pet food, personal care and cosmetics, dietary supplements, pharmaceuticals, and others. The dietary supplements segment is expected to grow the market during the forecast period. Beta-carotene is an antioxidant that helps protect the body from cellular damage. This is as a result of the antioxidant properties of beta-carotene. Therefore, it is used in many dietary supplements to provide the consumer with all the necessary nutrients.
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Market Dynamics
Leader: Growing demand for beta-carotene in pharmaceuticals
In addition to its function as an immunostimulator and antioxidant, beta-carotene is used in the treatment and prevention of leukoplakia, AIDS, heart disease and cancer. Furthermore, essential to human nutrition and health are carotenoids, which provide provitamins with anticancer properties and cardiovascular protection. Beta-carotene is categorized as a provitamin A carotenoid and, like alpha-carotene and beta-cryptoxanthin, can be converted to retinol. Beta-carotene supplements do not increase total vitamin A levels and do not cause toxicity. Many chronic diseases are thought to be prevented and treated by beta-carotene. One of the most important diseases it can treat is stomach cancer.
Limitation: Adverse effects
High doses of beta-carotene supplements have been linked to dangerous adverse effects, including skin staining and yellowing that goes away over time. There may be diarrhea, constipation or stomach upset. The effects can be serious at times, and thus market growth is limited.
Opportunity: Increased demand for clean label products
As consumers are more conscious of what they eat and want clear labels and identifiable ingredients, clean label products are in high demand. Products with a clean label are often thought to be of higher quality and better health. The increased desire for openness in food labeling is contributing to the growth of clean-label products. Consumers are looking for products that are transparent about their ingredients because they want to know exactly what they are putting into their bodies. As a replacement for synthetic shades, beta-carotene helps transition to clean labels. Clean Label Beta Carotene is a natural ingredient used in dairy products, bakery and confectionery, and beverages as a colorant.
Challenges: Price volatility
The main market constraint is the varying prices of the raw materials required for the production of beta-carotene. This affects the production of beta-carotene and its price, which is determined by the needs of different market groups. It also affects the supply chain of beta-carotene going to the requested organization. Thus, the volatility of raw material prices challenges the market.
Some of the key players operating in the Beta-Carotene market are:
• BASF SE
• ADVANSCHEM
• Central House of Medicines
• Divi’s Nutraceuticals
• DDW The colorful house
• DSM
• Foodchem International Corp.
• Licorice
• RGB of food
• Nutralliance
• Reliance Private Label Supplements
• Otsuka Pharmaceutical Co., Ltd.
• Sensient Technologies Corp.
• San-Ei Gen FFI, Inc
• Vinayak Corp
Main segments covered in the market:
From Source:
• Natural
Oh Maya
o Algae
o Fruits and Vegetables
o Bacteria
o Others
• Synthetic
By application:
• Food and Drinks
• Food for animals
• Personal Care and Cosmetics
• Dietary supplements
• Pharmaceutical
• Others
By region
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed in value (Billion USD). All segments are analyzed on a global, regional and local basis. The study includes the analysis of more than 30 countries for each part. The report analyzes the drivers, opportunities, restraints and challenges to gain a critical insight of the market. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitive position network analysis, distribution and marketing channel analysis.
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