Beta-Carotene Market Forecast to Hit $1.67 Billion by 2033: The Brainy Insights

The Beta-carotene market size is anticipated to grow from USD 1.01 Billion in 2023 to USD 1.67 Billion in 10 years. The worldwide beta-carotene market is driven by range of applications across end-users such as processed beverages, nutritional supplements, etc.

Newark, June 17, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the beta-carotene market will grow from USD 1.01 Billion in 2023 to USD 1.67 Billion by 2033. The market for beta-carotene will develop in response to the increasing demand for food colouring agents. Consumer awareness towards clean ingredients is promoting market growth.

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Key Insight of the Beta-Carotene Market

Europe region will account for the largest market size during the forecast period.

Europe region will hold a significant market share due to the rapid growth of the end-user industries. This is due to the growing trend of consuming clean-label products made from natural sources. Manufacturers of carbonated beverages, bakery and confectionery products, and processed foods prefer to add food colouring agents, which has led to high usage of beta-carotene in regional countries. Further, the nutraceutical industry in the region is also booming, which is, in turn, providing lucrative opportunities for the beta-carotene market.

The synthetic segment is expected to augment the market during the forecast period.

The source segment is divided into natural and synthetic. The natural segment further includes yeast, algae, fruits and vegetables, bacteria and others. The synthetic segment is expected to augment the market during the forecast period. The predominant synthetic beta-carotene component is all-trans-β-carotene, a red crystal or crystalline powder. Additionally, it might have trace levels of cis-isomers and additional carotenoids like β-apo-12'-carotenal, β-apo-10'-carotenal, and all-trans-retinal.

The dietary supplements segment is expected to augment the market during the forecast period.

The application segment is divided into food and beverages, animal feed, personal care and cosmetics, dietary supplements, pharmaceuticals and others. The dietary supplements segment is expected to augment the market during the forecast period. Beta-carotene is one antioxidant that helps protect the body from cellular harm. This is as a result of beta-carotene's antioxidant properties. It is thus used in many dietary supplements to provide all the required nutrients to the consumer.

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Market Dynamics

Driver: Increasing demand for beta-carotene in pharmaceuticals

In addition to its function as an immunostimulant and antioxidant, beta-carotene is utilized in treating and preventing leukoplakia, AIDS, heart disease, and cancer. Additionally crucial to human nutrition and health are carotenoids, which offer provitamins with anti-cancer properties and cardiovascular protection. Beta-carotene is categorized as a provitamin A carotenoid and, like alpha-carotene and beta-cryptoxanthin, can be converted to retinol. Beta-carotene supplements do not raise total vitamin A levels or cause toxicity. Numerous chronic diseases are thought to be prevented and treated by beta-carotene. One of the most significant illnesses that it can treat is gastric cancer.

Restraint: Adverse effects

High doses of beta-carotene supplements have been linked to dangerous adverse effects, including skin discolouration and yellowing that goes away with time. There could be diarrhoea, constipation, or upset stomach. The effects can be serious at times, and thus, the market growth is restricted.

Opportunity: Increasing demand for clean label products

As customers are more conscious of what they eat and want clear labels and identifiable components, clean-label products are in high demand. Products with a clean label are frequently thought to be of higher quality and greater health. The increased desire for openness in food labelling contributes to the growth of clean-label products. Customers are searching for transparent products about their ingredients because they want to know exactly what they put in their bodies. As a substitute for synthetic hues, beta-carotene aids in the switch to clean labels. Clean label beta carotene is a natural ingredient used in dairy, baked and confectionery goods and beverages as a colourant.

Challenges: Volatility in prices

The primary market constraint is the varying raw materials prices necessary to manufacture beta-carotene. This affects the production of beta-carotene and its price, which is determined by the needs of different market groups. It also impacts the beta-carotene supply chain that goes to the required organization. Thus, the volatility of raw material prices challenges the market.

Some of the major players operating in the Beta-Carotene market are:

• Central Drug House
• Divi’s Nutraceuticals
• DDW The Color House
• Foodchem International Corp.
• Lycored
• Food RGB
• Nutralliance
• Reliance Private Label Supplements
• Otsuka Pharmaceutical Co., Ltd.
• Sensient Technologies Corp.
• San-Ei Gen F.F.I., Inc
• Vinayak Corp

Key Segments Cover in the Market:

By Source:

• Natural

o Yeast
o Algae
o Fruits and Vegetables
o Bacteria
o Others

• Synthetic

By Application:

• Food and Beverages
• Animal Feed
• Personal Care and Cosmetics
• Dietary Supplements
• Pharmaceutical
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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