Global Beta Carotene Market Size To Worth USD 1.47 Billion By 2033 | CAGR of 4.14%
Category: Food & BeveragesGlobal Beta Carotene Market Size To Worth USD 1.47 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Beta Carotene Market Size is Expected to Grow from USD 0.98 Billion in 2023 to USD 1.47 Billion by 2033, at a CAGR of 4.14% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 105 Market data tables and figures & charts from the report on the "Global Beta Carotene Market Size, Share, and COVID-19 Impact Analysis, By Type (Natural, Synthetic, and Others), By End-Use (Food & Beverages, Pharmaceutical, Dietary Supplements, and Others), and By Region (Europe, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/beta-carotene-market
The global beta carotene market includes the production, formulation, and commercialization of beta carotene, a red-orange pigment found naturally in plants and fruits such as carrots, sweet potatoes, and leafy greens. Beta carotene, a precursor to vitamin A (provitamin A), is well-known for its antioxidant properties and ability to improve eye health, immune function, and skin protection. The global beta carotene market is rapidly expanding in response to increased consumer demand for plant-based, clean-label, and functional ingredients. The global beta carotene market is being driven by increased consumer awareness of the health benefits of antioxidant and vitamin A consumption. The increasing preference for natural food colors over synthetic additives in processed foods and beverages has hastened beta carotene adoption. The increasing prevalence of vitamin A deficiency, particularly in developing countries, is driving the fortification of staple foods with beta carotene. However, the global beta carotene market is constrained by factors such as the high cost of natural extraction when compared to synthetic production, limiting its affordability in price sensitive markets. The sensitivity of beta carotene to light, heat, and oxygen can lead to formulation stability issues.
The natural segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the type, the beta carotene market is divided into natural, synthetic, and others. Among these, the natural segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This expansion is being driven by rising consumer demand for clean-label, plant-based, and organic products, as well as greater awareness of the health benefits of natural ingredients.
The food & beverages segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the end-use, the beta carotene market is divided into food & beverages, pharmaceutical, dietary supplements, and others. Among these, the food & beverages segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This dominance stems from beta carotene's widespread use as a natural colorant and nutritional additive in a variety of products such as dairy, bakery, confectionery, and beverages.
Europe is estimated to hold the largest share of the beta carotene market over the forecast period.
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Europe is estimated to hold the largest share of the beta carotene market over the forecast period. This is primarily due to the large number of food and beverage manufacturers, high consumer awareness of natural and clean-label ingredients, and rising demand for nutritious foods and dietary supplements. Furthermore, strict regulations favoring the use of natural colorants over synthetic ones have encouraged European manufacturers to use beta carotene liberally.
Asia-Pacific is predicted to have the fastest CAGR growth in the beta carotene market over the forecast Period. Growing health consciousness, rising disposable incomes, and a rapidly expanding food and beverage industry are all driving demand for natural additives like beta carotene. Countries such as China, India, Japan, and South Korea are seeing an increase in demand for functional foods, dietary supplements, and natural cosmetics, which is driving market growth.
Major key players in the Beta Carotene market include DSM, E.I.D.–Parry (India) Ltd., DDW The Color House, Divi’s Nutraceuticals, Sensient Technologies Corp., Vinayak Corp., Foodchem International Corp., AVANSCHEM, Food RGB, Lycored, Nutralliance, Otsuka Pharmaceutical Co., Ltd., BASF SE, Central Drug House, Reliance Private Label Supplements, San-Ei Gen F.F.I., Inc., Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the beta carotene market based on the below-mentioned segments:
Global Beta Carotene Market, By Type
- Natural
- Synthetic
- Others
Global Beta Carotene Market, By End-Use
- Food & Beverages
- Pharmaceutical
- Dietary Supplements
- Others
Global Beta Carotene Market, By Regional Analysis
- Europe
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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