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 the increased importance of the intake of beta carotene. Moreover, the shift in trends towards natural ingredients is another factor driving the market growth. But, excessive intake of beta carotene can also cause various effects on the human body. Therefore, it is recommended to be consumed in prescribed quantities only. However, rising demand from emerging economies and increasing demand for algae-based carotene in functional and healthy food provide huge market opportunities.

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

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 to 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.

By Product Types

Based on product type, the global beta carotene market has been segmented into synthetic and natural beta carotene. The synthetic beta carotene segment accounted for the largest share in 2013 in terms of volume and revenue. This segment dominates the market as it is less expensive and requires less labor than natural beta carotene.

However, natural beta carotene is projected to be the fastest-growing segment. Increasing health awareness has led to the increased demand for natural products, which is one of the major factors for driving the natural beta-carotene market.

Application Segment Analysis

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

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

Geography Segmentation Analysis

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 Middle East and Africa

In 2013, 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 the 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.

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

Frequently Asked Questions:

The market for Beta Carotene is expected to reach USD 979.92 million in 2026.

The Beta Carotene market is expected to see significant CAGR growth over the coming years, at 6.3%.

The report is forecasted from 2022-2029

The base year of this report is 2021.

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.

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Published Date:  Mar 2016
Category:  Food & Beverage
Report ID:   57751
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
Delivery Time: 24 Hours to 48 Hours   
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