The global Beta-Carotene Market is expected to reach USD 654.0 Million by 2027, according to a new report by Reports and Data. Beta-carotenes are the type of phytonutrients found in the cells of a wide variety of plants, algae, and bacteria. These phytonutrients help plants absorb light energy for use in photosynthesis. Beta-carotenes are essential anti-oxidants that play a significant role in animal health.
Beta-carotenes are extensively used as coloring agents in the food and beverage industry. Nevertheless, with biotechnological advancements coupled with innovations in recombinant DNA technology, the extraction of carotenoids is now commercially feasible. Owing to this, there is an increase in the production of beta-carotene products. The rise in consumer awareness regarding the health benefits of beta-carotene supplements and fortified foods has led to the use of such products as a preventive measure against various health conditions including arthritis, diabetes, obesity, cancer, macular degeneration, and skin damage, among others.
The growth in the market demand for functional foods is also estimated to propel the market demand. The beta-carotene market is projected to rise significantly in the forecast period owing to high demand in end-use applications comprising food beverages, animal feed, dietary supplements, personal care, and pharmaceuticals, among others
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Competitive Landscape:
The research report offers details about leading companies in the global Beta-Carotene market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Market Dynamics:
Increasing consumer inclination towards functional, organic and probiotic-based food drinks is providing impetus to the growth of global food and beverage industry. Various studies have come with health benefits associated with “ethnic” and organic food products. These foods improve cardiovascular health, improves arthritis, digestive issues, and other inflammatory conditions. Consumers are gradually focusing on mindful eating and consuming food for health and wellness. Changing eating and dietary patterns of consumers is prompting brand owners and new entrants to introduce healthy foods options. Several clean-label products have been introduced in the market and consumer curiosity for new products is immense
Growing middle class consumers with rising income in developing countries such as India and China will boost food beverage market growth. Moreover, increasing consumer preference for procuring food and beverage items from online platforms due to variety, cost and time-saving will foster market size through 2027.
Some of the Leading Market Players Are Listed Below:
- BASF SE,
- DSM NV,
- FoodChem International Corporation,
- Flavorchem Corporation,
- Lycored, BioExtract,
- DD Williamson Co. Inc.,
- Nutralliance,
- Parry Nutraceuticals,
- Zhejiang Medical Co. Ltd.
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Beta-Carotene Market Segmentation based on Product Type Outlook
- Water Soluble Beta-Carotene
- Fat-Soluble Beta-Carotene
Beta-Carotene Market Segmentation based on Source Outlook
- Natural
- Synthetic
Beta-Carotene Market Segmentation based on Application:
- Food Beverages
- Animal Feed
- Dietary Supplements
- Personal Care
- Pharmaceuticals
- Others
Beta-Carotene Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Beta-Carotene Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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