Beta Carotene Market size to exceed $780mn by 2027
Published Date: May 25, 2021 Authors: Kunal Ahuja, Amit Rawat
Beta Carotene Market size is set to surpass USD 780 Million by 2027, according to a new research report by Global Market Insights Inc.
Growing demand for low-cost vitamin A ingredients for food fortification and supplementation purpose by the food processing companies and dietary supplement manufacturers is anticipated to augment the synthetic beta carotene demand. Synthetic beta carotene industry is gaining traction owing to numerous key benefits which includes faster production methods, low raw material, and production costs. Thus, it is has widely accepted amongst consumers, as the consumers find it convenient and affordable to purchase such products.
Synthetic beta carotene is also used as artificial colors in many of the food such as soup powder, ice -cream, custard, lemonade margarine, yogurt and many other products. Moreover, constant product innovation has also fueling the beta carotene market demand. Consumer’s preferences are always changing over the time, and the market demand change according to changing preferences. Inability to obtain such products leads to consumer switching brands. Thus, manufacturers, focus to innovate their products according to consumer’s demand. However, negative publicity of synthetic food is preventing market growth of synthetic beta carotene. There have been a lot of speculation regarding synthetic beta carotene, and considerable research has been carried out on the safety of synthetic beta carotene consumption for human. However, synthetic food has been listed by the Food and Drug Administration as “generally recognized as safe” as proved by many studies and more being conducted.
Increasing usage of beta carotene as additive should stimulate the market demand from animal feed application
Beta carotene market from animal feed application is projected to register over 5% CAGR over the forecast period. Increasing demand for carotene in animal feed processing industry as a color additive and nutritional supplements, in order to enhance the product penetration rate is supporting the market expansion. As beta carotene contains adequate amount of pro-vitamins and vitamin A which helps in improving immunity in poultry dairy cattle, and other farm animals. Moreover, it also helps to improve fertility rate in animals, thus supporting the beta carotene market statistics. Strong growth in the animal feed industry is likely to trigger the demand for beta carotene.
Browse key industry insights spread across 310 pages with 319 market data tables and 38 figures & charts from the report, “Global Beta Carotene Market Statistics By Source (Fruits & Vegetables, Algae, Synthetic, Yeast, Fungi, Bacteria), Application (Food & Beverages, Pharmaceuticals, Cosmetics, Animal Feed, Dietary Supplements), Product (Synthetic Beta Carotene, Natural Beta Carotene), Form (Powder, Liquid), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Technology advancement and rising demand for convenient food is soaring demand for beta carotene sourced from yeast
Global beta carotene market from yeast source is anticipated to witness significant CAGR of over 6% through 2027. Yeast has a substantial content of beta carotene owing to its production as an intermediate during the astaxanthin biosynthesis process which makes them ideal raw materials for biotechnological production. The rising demand for baked products owing to growing consumer preference for ready-to-eat, convenient food should drive the yeast industry and trigger beta carotene industry landscape. Yeast carotenoid also produce β -carotene which is one of the main sources of pro-vitamin A, which is used in the treatment of medical diseases, and used as food colorant. Yeast β-carotene has significant impact on human health such as antioxidants it is used in arteriosclerosis, cataracts, multiple sclerosis, cancer and tumor-inhibiting activity.
“Beta carotene market from yeast segment is stipulated to surpass USD 1 Million by 2027, owing to increasing its usage in pharmaceutical industry”
Asia Pacific Market is gaining traction owing to increasing demand for functional food
The Asia Pacific beta carton market is driven by the rising prevalence of dietary products and functional food among consumers and anticipated to witness over 6.5% CAGR through 2027. Gradually, consumers are inclining to products, which are rich in nutrients & vitamins and protect them from diseases. Beta carotene helps to prevent several diseases such as cancer, cataracts, and others; hence, its demand is increasing among consumers. In addition to these, the rising demand for functional food & beverage is supporting the market expansion.
"Asia Pacific beta carotene market exceeded USD 185 million in 2020 owing to rising proportion of ageing population coupled with growing demand for nutrition rich products”
Key manufacturers in beta carotene market are also investing in several activities like research & development as its finds wider array of application in animal feed, pharmaceutical, food & beverage, dietary supplements, cosmetic and others. Some of the key players operating in the market are DD Williamson & Co., Divis Laboratories, Sensient Cosmetic Technologies, Foodchem International, Bioextract, INC, Lycored, Zhejiang Medicine Co., Ltd., Nutralliance, Parry Nutraceuticals, Allied Biotech Corp. Ltd, Zmc-UsaLlc, Dynadis SARL.
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