Beta Carotene Market By Application (Food & Beverages, Supplements, Animal Feed, Cosmetics) - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022

The global market for beta carotene is witnessing growth on the back of rising health concerns and increased importance of intake of beta carotene.  Moreover, shift in trends towards natural ingredients is another factor driving towards the market growth. But, due to excessive intake of beta carotene can also causes various effects on the human body therefore it is recommend to consumed in prescribed quantities only. However, rising demand from emerging economies and increasing demand of algae based carotene in functional and heath food provide huge market opportunities.

There are many other larger, medium, and small manufacturers and private label players present in the market but only few accounts for major market share. Some of the other players in this market are Allied Biotech Corp. Ltd, Naturex SA, Chr. Hansen, and Zhejiang NHU Co., Ltd among others.

 Beta Carotene Market

Purpose of the Report

The purpose of this strategic research study titled “Global Beta Carotene Market” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global beta carotene market.

Target Audience

  • Industry investor
  • Raw material suppliers
  • Distributors
  • Manufacturers
  • Retailers

Companies who want to enter the market and companies who want to diversify their product portfolio

USP and Key Offerings

This report analyses the worldwide markets for beta carotene in USD Million and Tons by the following product types – synthetic and natural. The study also market analysis by end user application demand for beta carotene from food & beverages, cosmetics, supplements and animal feed application in terms of volume as well as revenue. The report provides separate comprehensive analytics for the North America, Europe, Asia-Pacific and Rest of World (RoW). Annual estimates and forecasts are provided for the period 2013 through 2022 and market growth rate is calculated from 2015 to 2022. Market data and analytics are derived from primary and secondary research. We have considered demand side approach of the market. Competitive analysis is primarily based on public domain information including company URLs and company annual report.

Other in-depth analyses provided in the report include:

  • Current and future market trends to justify the forthcoming attractive markets within carotenoids market
  • Market drivers, market restraints, and their impact on the market growth
  • In-depth competitive analysis of players present in the market
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global beta carotene market, of growth offering market size and estimates for the period from 2014 to 2022, keeping in mind the above mentioned factors.

Application Segment Analysis
By applications type, food and beverages segment accounted for 40% share of the pie in terms of volume and revenue in 2014 and is projected to maintain their dominance during the forecast period.

 Beta Carotene Market

Growth is projected to be highest from the supplements segment which is projected to grow at a CAGR of 3.1% in terms of volume during forecast period owing to rising health concerns, increasing awareness about the benefits of beta carotene and busy life style. Cosmetics segment is another major application which will witness potential growth during the forecast period.

Geography Segmentation Analysis
On the basis of geography, the global carotenoids market is segmented into following regions,

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • Rest of the World
    • Brazil
    • Rest of RoW

In 2013, by region, Europe and North America together accounted for more than 70% share of the pie in terms of volume and revenue. Europe is projected to grow at a second highest rate in terms of volume from 2014 to 2022. The U.S. is the largest market globally for beta carotene and is projected to grow at a rate of 3.5% in terms of revenue for the next six years.

 Beta Carotene Market

Asia Pacific region is projected to witness fastest growth rate in both, volume and revenue. In, Asia Pacific, Japan accounted for the largest share but growth is projected to highest from India and China.  RoW is also projected to witness moderate growth rate.  Economies such as Brazil, Turkey, Saudi Arabia offers huge untapped market opportunities.

Hismation – Beta Carotene
Carotenoids belong to a class of naturally occurring fat soluble pigments liable for the color range from red to orange and yellow. In nature, More than 500 carotenoids have been acknowledged and characterized, but only up to 45 dietary carotenoids from vegetables and fruits may be absorbed and metabolized by human.

Beta-carotene represents the largest product market supported by extensive use as a coloring agent in various applications including food, cosmeceuticals and pharmaceuticals. Similar to all carotenoids, beta-carotene is an antioxidant. An antioxidant is a substance which inhibits the oxidation of other molecules; and protects the body from free radicals. Beta-carotene is also precursor of vitamin A and also holds various unique properties such as provitamin A and colorants. This flexibility of beta carotene is used across many different segments, which include food, feed, pharmaceuticals, supplements, personal care and cosmetics. As the above mention segment demands different properties and stability of the beta-carotene formulations. Beta carotene is available in three major product groups which include oil suspensions, powders and emulsions.

There are two type of beta carotene; natural beta carotene has more enhanced properties when compared to their synthetic counterparts. Some of the best sources of beta carotene are yellow/orange vegetables such as sweet potatoes, carrots and pumpkins and fruits which include papayas, apricots, and mangoes among others. Beta carotene is also found in green leafy vegetables such as spinach, kale and broccoli.

Beta Carotene is more than just a pretty color and it is also used to improve animal performance. It is an essential nutrient for all farmed stock. As it is only found in plants and cannot be synthesized by livestock, animals’ requirement of this nutrient is fulfilled by their diet. The natural beta carotene content of forages in animal diets varies, and supplementation is the proven way to make sure that diets consistently supply sufficient beta carotene. The global market for animal feed additives is projected to grow at a rate of more than 5% over the next six years.

Due to its orange color it also found its application in cosmetics and personal care products. It is used in the formulation of after bath products, shave lotions, hair conditioners, cleansing products, makeup, shampoos, suntan products and skin care products. It also improves the appearance of damaged or dry skin by reducing restoring and flaking suppleness. The global personal care industry is projected to witness growth at a rate of more than 6% over the next six years. Thus, the growth in the end user application such as animal feed, cosmetics, personal care and food industry and many others is in turn driving the growth for beta carotene market.

The supplements market is projected to be the most promising market for beta carotene over the coming six years. With the aging population, rising health concerns, rising health supplements market, urbanization and busy lifestyle. Such factors are significantly increasing the demand for supplements which in turn has increased the demand for beta carotene.

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Published Date:  Mar 2016
Category:  Food & Beverage
Report ID:   57751
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
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