Beta Carotene Market Trends

Growth Drivers

• Growing Production & Consumption of Processed Food-The processed food that contains a lots of artificial colors, are usually extracted from beta carotenes. Around 400,000 enterprises make up the processed food industry, that valued over USD 2 trillion dollars.
• Rising Population of Malnutrition People – People suffering from malnutrition severely lack an adequate amount of vitamins, minerals, fats, carbohydrates, and proteins. Therefore, it is anticipated to increase the growth of the global beta carotene market. According to UNICEF, with 11.7% of the world's population experiencing severe levels of food insecurity, severe food insecurity has become more common. A healthy diet is now out of reach for about 3.1 billion people worldwide, an increase of 112 million.
• Growing Incidences of Vision Impairment – A precursor to vitamin A, beta-carotene plays a key role in numerous biological processes, including eyesight. According to the World Health Organization, at least 2.2 billion people worldwide suffer from near- or distance vision impairment. About half of these cases, or at least 1 billion, involved vision damage that either might have been avoided or is still unaddressed.
• Rising Sales of Cosmetic Products– The formulation of aftershave lotions, makeup, bath products, shampoos, and others all contain beta-carotene. In the years 2020 and 2019, respectively, the top makeup brand Sephora produced sales of approximately 6 billion dollars from its offerings in the beauty and personal care categories.
• Rising Consumption of Dietary Supplements – There are various dietary supplements containing beta carotene in the market. People consume them to overcome the deficiency of the required nutrition. In Lithuania around 63% and 67% of people consumed dietary supplements for improving their body and immune system respectively. Moreover, consumption significantly increased during a pandemic.

Challenges

• Side Effects of Beta Carotene - The conversion of beta-carotene into vitamin A. For clear eyesight and healthy eyes, a robust immune system, and healthy skin and mucous membranes, require vitamin A. However, vitamin A overdoses can be harmful. Vitamin A can be obtained safely via beta-carotene. For smokers, meanwhile, consuming too much beta-carotene can be harmful.
• Higher Prices of Beta Carotene Products
• Lack of Availability of Natural Beta Carotene