Beta Carotene Market Size By Source (Fruits & Vegetables, Algae, Synthetic, Yeast, Fungi, Bacteria), By Application (Food & Beverages, Pharmaceuticals, Cosmetics, Animal Feed, Dietary Supplements), By Product (Synthetic Beta Carotene, Natural Beta Carotene), By Form (Powder, Liquid), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027

Beta Carotene market size exceeded USD 520 Million in 2020 and is estimated to register over 6% CAGR between 2021 and 2027. Significant application in animal nutrition and food & beverage industry should contribute towards the market growth of beta carotene.
 

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Robust demand and strong application in food processing, animal nutrition, and dietary supplements coupled with increasing consumer awareness towards their health is propelling the industry outlook. Increasing demand for natural and healthy products is one of the significant reasons attributing towards the growth of beta carotene market. Rising dietary supplement consumption owing to increasing health problems including nutrient deficiency and obesity should drive the product demand. The substance is also useful for the reduction of damage from free radicals in the body. Moreover, rising consumer awareness and concerns pertaining to addition of synthetic ingredients has surged the demand for natural beta-carotene products. Also, increasing demand for clean label product and food fortification with provitamin A source in processing industries like food & beverage is uplifting the demand for beta carotene industry.
 

Easy storage & longer shelf life of powder beta-carotene should drive the market statistics

Global beta carotene market share from powder form was valued at over USD 470 million in 2020. Powdered products have prominent attributes, which easier storage, transportation, as well as longer shelf life compared to liquid form thus exhibit decreased chance of spoilage. This has turned into enhanced their utilization in several industries like pharmaceutical, cosmetic and others. Thereby, demand for beta carotene from powder form is gaining traction in the market. Powder solutions are widely used in manufacturing additives for food processing, animal feed and dietary supplements owing to reduced chances of spoilage, low cost and ease of manufacturing compared to liquid form. The beta-carotene products in powder form are generally used in food & beverage application such as confectionary, instant powder drinks, candied fruits, chewing gums, biscuits, soup powders, pasta, and fermented milk products. These afore mentioned reasons attributing beta carotene market outlook.
 

“Move to Natural” trend is creating lucrative growth opportunities from natural product

Global beta carotene market size from natural product is projected to surpass 40 million USD by 2027, owing to increasing consumer health inclination towards naturally sourced ingredients and stringent regulations pertaining to disposal of products. Increasing “move to organic” trend along with growing consumer inclination towards natural products are supporting the market expansion. Excess consumption of synthetic beta carotenes may lead to deteriorating effect on the health and environment. Stringent regulations prohibiting the usage of harmful and toxic additives in feed and food industry will fuel the natural carotene segment growth. The synthetic process generates hazardous wastes that can adversely impact nature and aquaculture industry. Since synthetic beta carotene have deteriorating effects on the environment, the demand for natural ingredients in aquafeed has increased in last few years and bringing favourable growth to the beta carotene industry.
 

Growing consumer awareness towards healthy lifestyle is likely to boost market growth from dietary supplements

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Global beta carotene market from dietary supplements application is likely to surpass USD 170 million by 2027. As, growing consumer awareness towards nutritional, vitamin enrichment products and benefits associated with them such as immune modulation. Dietary supplements are obtained from animals, plants, seafood, and microbial strains which are used to enhance nutrients intake in human body. Positive indicators towards sports nutrition on account of change in lifestyle along with increasing awareness towards benefits of beta carotene intake should drive dietary supplements segment growth.
 

Shift in trend towards weight loss and calorie reduction mainly in China, Italy and the U.S. should promote health & wellness, and further drive product demand. Consumer awareness about the dietary supplements benefits in Asia Pacific region and easy access to products are key factors driving the regional market growth. Due to its high bioactivity, beta carotene is also widely used in medicines and pharmaceutical products. In the pharmaceutical industry, beta carotene acts as a colouring agent for tablets. These listed factors are attributing towards the beta carotene market expansion across the globe.
 

Numerous health benefits for eyes & skin and other should propel the market growth from beta carotene sourced from fruits & vegetables

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Global beta carotene market from fruits & vegetables segment is likely to surpass by USD 10 million by 2027 as it has numerous health, eye and skin benefits. Beta-carotene has excellent properties of antioxidant, as it as plant pigment that gives orange, red, yellow, and other vibrant colors. Thus, beta carotene sourced fruits & vegetables such as carrot and other is used as an additive and nutrient in food and beverage industry. Additionally, beta carotene also helps to improve immune system, good vision as it is rich in Vitamin A. Thereby, demand for beta-carotene industry is increasing across the globe. Beta-carotene sourced from fruits & vegetables also protect human cells form damage and lower the risk of cancer and other cardiovascular diseases.
 

Substantial demand for healthy & nutrition rich products is supporting the market statistics in North America region

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North America beta carotene market size should exceed USD 250 Million by 2027 owing to shift in consumer preference toward healthy diet. Also, increasing geriatric population is resulting in an increased demand for dietary supplements and supporting the market share. The demand for natural source synthetic beta carotene, vitamins, and other dietary supplements remains positive in the U.S. Consumers are willing to spend on dietary supplements and vitamins in addition to their regular food materials due to increasing product penetration. Changes in consumer lifestyles and eating habits have led to several diseases such as cardiovascular diseases, diabetes and other; thus, consumers are opting for healthy products. beta carotene plays a vital role in the functioning of immune system, since it has antioxidant properties, which help the cells to fight the infection. These listed factors are stipulating towards regional market demand.
 

Exclusive product launches and continuous research & development activities to be key business strategies Incorporated by key players

Global beta carotene market is fragmented, and key players operating across the industry include DSM, Lycored, Chr Hansen Holding A/S, BASF SE, Food chem International, Allied Biotech Corp., Bioextract and others. Moreover, other manufacturers are also showing keen interest in the market owing to its wide array of application in many of the end use industry such as pharmaceutical, food & beverage, cosmetics, animal feed and dietary supplements.
 

In October 2020, Nutralliance announced a strategic partnership with Globionic, Russia-based supplier specializing in ingredients for the sales and distribution the company’s products in Eastern Europe. This strategy will help the company to expand its sales of beta carotene products in the European countries. Likewise, In July 2018, Lycored announced to launch beta carotene Beta Blasters, an interactive classic arcade game that tells the narrative journey of beta carotene and its effect on the body, at the NBJ summit in the U.S.
 

Beta Carotene Market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Tons) and revenue in USD (Million) from 2016 to 2027 for the following segments:

By Source

• Fruits & Vegetables
• Algae
• Synthetic
• Yeast
• Fungi
• Bacteria
• Others

By Product

• Synthetic
• Natural

By Form

• Powder
• Liquid

The above information has been provided for the following regions:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
  • Vietnam
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa