Home » Food & Beverage » Beta Carotene Market

Beta Carotene Market By Type (Natural & Synthetic) by End Use (Food & Beverages, Supplement, Cosmetic Industry, Animal Feed, Pharmaceutical & Dietary Supplements) by Geography – Growth, Share, Opportunities & Competitive Analysis, 2018 – 2028

Published: | Report ID: 2846 | Report Format : PDF

Market Overview

The beta-carotene market is experiencing robust expansion globally, driven primarily by heightened health consciousness and the recognized significance of beta-carotene intake. Additionally, a trend towards all-natural ingredients is propelling market growth. However, it’s crucial to highlight that overconsumption of beta-carotene may yield adverse effects on the human body; thus, it’s advisable to adhere to recommended dosages. Notwithstanding, burgeoning demand from developing economies and increased preference for algae-based carotene in functional and health foods present substantial opportunities for market expansion. While the market comprises numerous large, medium, and small manufacturers and private label players, only a select few command a significant share of the market. Other notable players in this industry include Allied Biotech Corp. Ltd., Naturex SA, Chr. Hansen, and Zhejiang NHU Co., Ltd., among others.

Beta-carotene is a crucial nutrient for overall health, and it has gained significant attention in recent years due to its numerous benefits. As a result, the beta-carotene market is expected to continue its growth trajectory in the coming years. The increasing prevalence of chronic diseases and aging populations worldwide have led to a surge in demand for beta-carotene as a dietary supplement. Moreover, beta-carotene’s role in promoting healthy vision and skin has also contributed to its rising popularity.

Market Trends and Drivers

Processed Food Industry and Malnutrition:

The global beta-carotene market is driven significantly by the augmented production and consumption of processed food, a $2 trillion industry comprising around 400,000 enterprises, often using beta-carotene as a colorant. The increasing global population experiencing malnutrition and severe food insecurity, estimated by UNICEF to be 11.7% of the world population, is also likely to enhance market growth.

Importance in Vision and Healthcare:

Beta-carotene’s role as a precursor to vitamin A is crucial due to the rising instances of preventable or unaddressed vision impairment affecting approximately 2.2 billion people worldwide, according to the World Health Organization. This role is essential in addressing various health conditions, including vision problems.

Cosmetic Industry Demand:

The growth of the cosmetic industry, where beta-carotene is frequently used in products like aftershave lotions and makeup, is further fueling market demand. For instance, leading makeup brand Sephora reported around $6 billion in sales in the beauty and personal care categories in 2019 and 2020.

Rise in Dietary Supplement Consumption:

There is heightened consumption of beta-carotene-containing dietary supplements, especially during the pandemic, with people aiming to boost their body’s health and immune system. The rising consumer interest in clean-label products, demanding ingredient transparency, is significant in this trend.

Preference for Natural Colorants:

The global consumer concern regarding the impact of synthetic colors on health is spurring a preference for natural colorants like beta-carotene in foods and beverages. The willingness of about 88% of consumers to pay a premium for products with naturally sourced ingredients underlines this trend. For example, BASF SE introduced a 10% beta-carotene powder in 2017 to replace azo dyes in various products, responding to this consumer preference.

Design Element 2

Access crucial information at unmatched prices!

Request your free sample report today & start making informed decisions powered by Credence Research!

Download Free Sample
CTA Design Element 3

Market Challenges

The metabolic transformation of beta-carotene into vitamin A is a vital process for maintaining key facets of human health, including clear vision, robust immune function, and the integrity of skin and mucous membranes. However, it’s crucial to understand that an excessive intake of vitamin A can lead to adverse health consequences. Despite this, beta-carotene presents a safe avenue for obtaining the necessary amounts of vitamin A. Particularly for smokers, elevated consumption of beta-carotene can pose potential risks. Additionally, the premium pricing and limited availability of natural beta-carotene products present notable challenges in the market. As a result, manufacturers are investing in research and development efforts to improve the extraction and production processes for natural beta-carotene.

Recent industry developments

  • GacLife launches the world’s first line of Gac-based wellness products. Gac fruit is a fruit found in some areas of Southeast Asia and consists of high concentrations of carotenoids, antioxidants, and other nutrients. The GacLife products are designed to support vision and skin health.
  • DSM acquires Vitatene, a beta-carotene producer, from primary fermentation. This acquisition strengthens DSM’s position as a leading producer of beta-carotene and other carotenoids.

Regional Analysis

Market share and growth in Europe and North America

In 2022, Europe and North America dominated the beta-carotene market, collectively holding over 70% of the total market share in both volume and revenue. Europe is poised for the second-highest growth rate in volume from 2024 to 2028. The United States, the largest global market for beta-carotene, is expected to exhibit a 3.5% annual growth rate in revenue over the next six years. Beta-carotene (95% pure) is approved in the United States for use as a colorant and a pro-vitamin A nutritional supplement under specific regulations. Over 60% of Americans prefer beta-carotene and other carotenoids and vitamins as dietary components. Several ready-to-drink products featuring beta-carotene have been introduced in the beverage manufacturing industry, with Vitatine entering into an exclusive contract with B & D Nutritional Ingredient to supply natural beta-carotene in the United States.

Rapid Market Expansion in Asia Pacific and Untapped Opportunities

The Asia-Pacific region is forecast to experience the fastest growth rate in terms of both volume and revenue. While Japan currently holds the largest market share in this region, India and China are projected to witness the highest growth. Meanwhile, the rest of the world is expected to see moderate growth, with economies like Brazil, Turkey, and Saudi Arabia offering significant untapped market opportunities in the beta-carotene sector.

Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!

Market Segmentations

Diving into the categories of product types, the global beta-carotene market is bifurcated into two segments, namely synthetic and natural beta-carotene. In 2022, the market was largely dominated by the synthetic beta-carotene segment in terms of volume and revenue, owing to its cost-effectiveness and less labor-intensive production compared to its natural counterpart. However, it is anticipated that the natural beta-carotene segment will witness rapid growth. This upsurge is primarily due to increased consumer health consciousness, leading to heightened demand for natural products.

Analyzing the market by application type, the lion’s share of the market, accounting for 40% in terms of volume and revenue in 2021, belonged to the food and beverages segment, which is expected to maintain its leading position throughout the forecast period. The segment projected to experience the highest growth is the supplement sector, with an estimated CAGR of 3.1% in terms of volume during the forecast period. This growth is attributed to escalating health concerns, growing awareness of the health benefits of beta-carotene, and fast-paced lifestyle trends. Additionally, the cosmetics sector is another key application area expected to see significant growth in the coming years.

Based on geography, the global carotenoids market is segmented into the following regions:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africz

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Market Segmentation
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Approach Adopted
1.3.5 Key Points

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Beta Carotene Market

Chapter 3 Introduction
3.1 Introduction
3.2 Classification
3.3 Production Techniques
3.4 Pricing Analysis
3.5 Intake Recommendations
3.6 Guidelines according to FDA (U.S Food and Drug Administration)
3.7 Global Market Trend
3.7.1 Health benefiting role of beta carotene
3.7.2 Rising Demand from end user applications
3.7.3 Beta-Carotene markets are the mega trend of natural colorants
3.8 Market Restraint
3.8.1 Toxic effects of excessive intake of beta carotene
3.9 Opportunity
3.9.1 Demand for natural functional food and health food drives use of algae derived beta carotene
3.9.2 Increasing purchasing power of emerging economies
3.10 Supply Chain
3.11 Porter’s five force analysis
3.11.1 Bargaining power of suppliers
3.11.2 Bargaining power of buyers
3.11.3 Threat of new entrants
3.11.4 Threat of substitutes
3.11.5 Degree of competition

Chapter 4 Global Beta Carotene Market, By Product Type
4.1 By Product Type
4.1.1 Synthetic Beta Carotene
4.1.2 Natural Beta Carotene

Chapter 5 Global Beta Carotene Market, By Application Type
5.1 Food & Beverages
5.1.1 Global demand of beta carotene from the food & beverages application, (USD Million), (Ton)
5.2 Supplements
5.2.1 Global demand of beta carotene from the supplements application, (USD Million), (Ton)
5.3 Animal Feed
5.3.1 Global demand of beta carotene from the animal feed application, (USD Million), (Ton)
5.4 Cosmetics
5.4.1 Global demand of beta carotene from the cosmetics application, (USD Million), (Ton)

Chapter 6 Global Beta Carotene Market, Regional Analysis
6.1 Global Beta Carotene Market, regional analysis
6.2 North America
6.3 Europe
6.4 Asia Pacific
6.5 RoW

Chapter 7 Competitive Analysis
7.1 BASF
7.2 DSM
7.3 Kemin Industries
7.4 Cyanotech Corporation
7.5 LycoRed
7.6 Sensient Technologies
7.7 Allied Biotech Corp. Ltd
7.8 Divis Laboratories
7.9 Zhejiang NHU Co.,Ltd
7.10 D.D.Williamson & Co

7.11 Food RGB

7.12 Nutralliance

7.13 Otsuka Pharmaceutical Co., Ltd.

7.14 Reliance Private Label Supplements

7.15 San-Ei Gen F.F.I., Inc.

7.16 Vinayak Corp.

Chapter 8 Conclusion

 

List Of Table :

TABLE 1 Market Snapshot: Global Beta Carotene Market
TABLE 2 Beta Carotene used as a colorant
TABLE 3 Natural Sources of beta carotene
TABLE 4 GDP Per capita (USD $),
TABLE 5 North America Beta Carotene Market, Strategic Snapshot
TABLE 6 North America beta carotene market volume by region, (Ton)
TABLE 7 North America beta carotene market revenue by region, (USD Million)
TABLE 8 North America beta carotene market volume by product type, (Tons)
TABLE 9 North America beta carotene market revenue by product type, (USD Million)
TABLE 10 North America beta carotene market volume by application type, (Tons)
TABLE 11 North America beta carotene market revenue by application type, (USD Million)
TABLE 12 Europe Beta Carotene Market, Strategic Snapshot
TABLE 13 Europe beta carotene market volume by region, (Ton)
TABLE 14 Europe beta carotene market revenue by region, (USD Million)
TABLE 15 Europe beta carotene market volume by product type, (Tons)
TABLE 16 Europe beta carotene market revenue by product type, (USD Million)
TABLE 17 Europe beta carotene market volume by application type, (Tons)
TABLE 18 Europe beta carotene market revenue by application type, (USD Million)
TABLE 19 Asia Pacific Beta Carotene Market, Strategic Snapshot
TABLE 20 APAC beta carotene market volume by region, (Ton)
TABLE 21 APAC beta carotene market revenue by region, (USD Million)
TABLE 22 APAC beta carotene market volume by product type, (Tons)
TABLE 23 APAC beta carotene market revenue by product type, (USD Million)
TABLE 24 APAC beta carotene market volume by application type, (Ton)
TABLE 25 APAC beta carotene market revenue by application type, (USD Million)
TABLE 26 RoW Beta Carotene Market, Strategic Snapshot
TABLE 27 RoW beta carotene market volume by region, (Ton)
TABLE 28 RoW beta carotene market revenue by region, (USD Million)
TABLE 29 RoW beta carotene market volume by product type, (Ton)
TABLE 30 RoW beta carotene market revenue by product type, (USD Million)
TABLE 31 RoW beta carotene market volume by application type, (Ton)
TABLE 32 RoW beta carotene market revenue by application type, (USD Million)
TABLE 33 Competitive Analysis

List Of Figure :

FIG. 1 Global carotenoids market share by type,
FIG. 2 Global Market Trend for beta carotene market: Impact analysis
FIG. 3 Global Natural Color Market, (USD Million)
FIG. 4 Global Market restraint for beta carotene market: Impact analysis
FIG. 5 Global Market opportunities for beta carotene market: Impact analysis
FIG. 6 Global synthetic beta carotenoid market by product type, (USD Million), (Tons)
FIG. 7 Global natural beta carotenoid market by product type, (USD Million), (Tons)
FIG. 8 Global Beta Carotene Market, regional analysis,

 

Frequently Asked Questions:

Why is the demand for natural beta-carotene expected to grow in the coming years?

The anticipated growth in demand for natural beta-carotene is mainly attributed to the increased consciousness regarding health among consumers, leading to a heightened demand for products made from natural ingredients.

What is the leading application segment in the beta-carotene market as of 2021?

The food and beverages segment held the majority of the market share, accounting for 40% in terms of volume and revenue in 2021.

Which regions are the major contributors to the global beta-carotene market?

In 2022, Europe and North America collectively held over 70% of the total market share in terms of both volume and revenue. However, the Asia Pacific region is expected to experience the fastest growth rate.

What challenges does the natural beta-carotene market face?

The premium pricing and limited availability of natural beta-carotene products present significant challenges. Manufacturers are investing in research and development efforts to improve the extraction and production processes for natural beta-carotene.

Who are the major players in this market?

Allied Biotech Corp. Ltd, Naturex SA, and Chr. Hansen, and Zhejiang NHU Co., Ltd, among others. are some of the major players in the global market.

Low Calorie Food Market

Published:
Report ID: 12195

Food Preservatives Market

Published:
Report ID: 5660

Dairy Blends Market

Published:
Report ID: 4452

Sodium Benzoate Market

Published:
Report ID: 10462

Ready to Use Therapeutic Food Market

Published:
Report ID: 8866

Sunflower Oil Market

Published:
Report ID: 10108

Specialty Milk Formula Market

Published:
Report ID: 9566

UK Clean Label Starch Market

Published:
Report ID: 35481

Germany Clean Label Starch Market

Published:
Report ID: 35468

U.S. Clean Label Starch Market

Published:
Report ID: 35460

Confectionery Ingredients Market

Published:
Report ID: 4043

Bakery Ingredients Market

Published:
Report ID: 2311

Purchase Options

$2999
Delivery Format: Excel.
$4999
Designed for the individual purchaser.
$6999
Users located at a single corporate site or regional office.
$7999
Allowed for unlimited sharing globally within one company.
Smallform of Sample request

Have a question?

User Profile

Don’t settle for less – trust Mitul to help you find the best solution.

Report delivery within 24 to 48 hours

– Other Info –

What people say?-

User Review

I am very impressed with the information in this report. The author clearly did their research when they came up with this product and it has already given me a lot of ideas.

Jana Schmidt
CEDAR CX Technologies

– Connect with us –

Phone

+91 6232 49 3207


support

24/7 Research Support


sales@credenceresearch.com

– Research Methodology –

Going beyond the basics: advanced techniques in research methodology

– Trusted By –

Pepshi, LG, Nestle
Motorola, Honeywell, Johnson and johnson
LG Chem, SIEMENS, Pfizer
Unilever, Samsonite, QIAGEN