Global Beta-carotene Market Overview
Beta-carotene is one of the widely used carotenoids in food industry. Carotenoids are natural fat soluble pigments responsible for the red, orange and yellow colours in plants, flowers, fruits, algae and bacteria. Beta-carotene is mainly used in food industry to provide appropriate colour to the products. Human body is fit for the consumption of beta-carotene. In human body, beta-carotene gets transformed to vitamin A nutrients which empower the immune system in human body. Commercial production of beta-carotene is carried out through biotechnological processes using filamentous fungi, yeast, bacteria or microalgae and solid liquid extraction from plants. Beta-carotene is considered as powerful antioxidants. Shielding effects of beta-carotene against disorders such as cancer and heart diseases is intensifying the growth of market in food and beverage industry. In pet feeds, beta-carotene helps animals to maintain optimal health.
By Beta-carotene Type
On the basis of type, the market can be segmented into following categories:-
By Raw Material
Based on in-depth interviews with food companies, report reflects a complete overview of following application segment:-
Global Beta-carotene Market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Carotenoids are important factors in human health. The essential role of beta-carotene and others as the main dietary source of vitamin A has been known for many years. Rising awareness towards the consumption of beta-carotene is anticipated to be the major factor propelling the market growth over the forecast period.
Physical properties of natural beta-carotene have a high edge over the synthetic beta-carotene. Synthetic beta-carotene has lower lip-solubility and antioxidant activity than naturally produced beta-carotene. This outsized shift of industry from synthetic to natural beta-carotene is intensifying the market growth all across the globe.
Beta-carotene holds exceptional properties as a colorant, physiological antioxidant and pro-vitamin A. This means that it is used across many diverse segments such as food, feed, supplements and cosmetics. Each segment demands different properties and stability of the beta-carotene formulations. Wide scope associated with the application of beta-carotene is anticipated to be the major factor driving the market in upcoming 5-6 years.
Excessive intake of beta-carotene can cause multiple disorders in human body, so it should be consumed in prescribed way. The beta-carotene market is an unorganised market, pricing issues with local manufacturers is anticipated to be the major factor restraining market growth over the forecast period i.e. 2016-2023.
Market Size & Forecast
The global beta-carotene market is estimated to reach USD 583 million by the end of 2024 witnessing a compound annual growth rate of 3.1% over the forecast period 2017-2024. The market is mainly driven by increasing demand for beta-carotene from food and beverage industry.
North America region subsidized the highest market share of beta-carotene market followed by Europe in 2015. U.S captured the highest market share in North America region followed by Canada. Increasing awareness associated with the consumption of beta-carotene is anticipated to be the major factor driving the market. Asia Pacific beta-carotene market is anticipated to show a persuasive growth over the forecast period.
Carrot raw material segment is likely to dominate the global market. On the other hand in terms of application, food and beverage industry marked highest share in the beta-carotene market in terms of revenue.
Scope and Context
Overview of the Parent Market
Global Beta-carotene Market has been studied on countries and regions like:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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