Global Beta Carotene Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3200/- USD | Published Date: September 10, 2020 |

The global beta carotene market has been projected to grow at the CAGR of around 4% market during 2020-2027. In 2019, the market has generated a revenue of around $ 310 billion and is expected to reach up to $ 380 million in terms of revenue by 2025. The global market for beta carotene is witnessing growth on the back of rising health concerns and the increased importance of intake of beta carotene. Moreover, a shift in trends towards natural ingredients is another factor driving towards market growth. However, due to health hazards related to excessive intake of beta carotene, it is recommended to be consumed in prescribed quantities only. Rising demand from emerging economies and increasing demand for algae-based carotene in functional and health foods provide huge market opportunities.

Market Insights:

The industry is expected to witness significant growth over the next eight years. A significant increase in the beta-carotene consumption in food & beverages, dietary supplements, personal care & cosmetics, and animal feed industries such is expected to have a positive impact on the overall growth. The rising demand for natural-source carotene products is expected to increase global industry growth. Beta-carotene is a part of the carotenoids family and is an antioxidant, derived from natural and synthetic sources. The synthetic source has several disadvantages over natural sources. To overcome all these disadvantages key companies are now developing carotene products from natural sources.

Market Segment Insights:

On the basis of 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 2019 in terms of volume and revenue. This segment dominates the market as it is less expensive and requires lesser labor as compared to natural beta carotene. Natural beta carotene segment 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. By applications, the food and beverage segment accounted for 40% share of the pie in terms of volume and revenue in 2019 and is projected to maintain their dominance during the forecast period.

Global Beta Carotene Market Segmentation:

By Product, 2018–2027 ($ Millon)

  • Synthetic
  • Natural Beta Carotene

By Application, 2018–2027 ($ Millon)

By Geography, 2018-2027 ($ Millon)

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

Regional Insights:

In 2019, by region, Europe and North America together accounted for more than 70% market share. Europe is projected to grow at a second-highest rate in terms of volume from 2020 to 2027. 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. The Asia Pacific is projected to witness the fastest growth rate in both, volume and revenue. In the Asia Pacific, Japan accounted for the largest share, yet growth is projected to be the highest from India and China. Economies such as Brazil, Turkey, Saudi Arabia offers huge untapped market opportunities.

Market Competition Assessment:

The major players currently operating in the global beta carotene market include Allied Biotech Corp. Ltd, BASF, Cyanotech Corporation, D.D.Williamson & Co, Divis Laboratories, DSM, Kemin Industries, LycoRed, Sensient Technologies, and Zhejiang NHU Co. Ltd.

List of Key Companies:

  • Allied Biotech Corp. Ltd
  • BASF
  • Cyanotech Corporation
  • D.Williamson & Co
  • Divis Laboratories
  • DSM
  • Kemin Industries
  • LycoRed
  • Sensient Technologies
  • Zhejiang NHU Co. Ltd.

Key Questions Answered by Beta Carotene Market Report:

  • Global beta carotene market forecasts from 2020-2027
  • Regional beta carotene market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
  • Country-level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
  • Beta Carotene submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
  • Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to the beta carotene market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level beta carotene markets from 2020-2027
  • Competitive Landscape and market positioning of top 10 players operating in the beta carotene market

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Table of Content:

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 Research Scope
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 Assumptions

Chapter 2 Executive Summary

2.1 Beta Carotene Market Portraiture
2.2 Beta Carotene Market, by Therapeutic Type, 2016 ($ Million)
2.3 Beta Carotene Market, by Geography, 2016 (Value %)

Chapter 3 Global Beta Carotene Market Analysis

3.1 Global Beta Carotene Market Overview
3.2 Prevalence of Beta Carotene
3.3 Market Dynamics
3.3.1 Market Drivers High Demand from Food and Beverages Industry
3.3.2 Challenges Inclination towards natural alternatives to prevent skin and vision-related Issues
3.3.3 Opportunities
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global Beta Carotene Market, 2015 (Value %)

Chapter 4 Global Beta Carotene Market, by Product, 2015-2025 ($ Million)

4.1 Preface
4.2 Synthetic
4.3 Natural Beta Carotene

Chapter 5 Global Beta Carotene Market, by Application, 2015-2025 ($ Million)

5.1 Preface
5.2 Food & Beverages
5.3 Supplements
5.4 Animal Feed
5.5 Cosmetics

Chapter 6 Global Beta Carotene Market, by Geography, 2015-2025 ($ Million)

6.1 Preface
6.2 North America (U.S. & Canada)
6.3 Europe (U.K., Germany & Rest of Europe)
6.4 Asia Pacific (China, Japan, Singapore, South Korea and Rest of APAC)
6.5 Latin America (Mexico, Brazil and Rest of LATAM)
6.6 Middle East and Africa

Chapter 7 Company Profiles

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