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Global Beta Carotene Market: By Type: Natural, Synthetic, Others; By Application: Food and Beverage, Animal Feed, Dietary Supplements, Pharmaceuticals, Cosmetics, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Beta Carotene Market Outlook
The global beta carotene market reached a value of about USD 549.1 million in 2021. The industry is further expected to grow at a CAGR of about 4.60% in the forecast period of 2023-2028 to reach a value of around USD 661.66 million by 2027.
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North America and Asia Pacific to be Among the Significant Regional Markets for Beta Carotene
North America is likely to be one of the leading regions for beta carotene owing to shifting consumer preference toward a healthy diet. The growing geriatric population is driving up demand for dietary supplements and bolstering market share. The demand for natural sources of synthetic beta carotene, vitamins, and other dietary supplements remains positive in the United States. Changes in consumer lifestyles and eating habits have resulted in ailments, such as cardiovascular disease, diabetes, and others; as a result, customers in the region are choosing healthier products. Beta carotene is important for immune system function because it possesses antioxidant qualities that assist the cells in fighting illness. For example, Lycored announced the beta carotene introduction in July 2018. At the NBJ summit in the United States, Beta Blasters, an interactive vintage arcade game that narrates the story of beta carotene and its effect on the body, was unveiled. These factors are likely to aid the regional market demand.
The Asia Pacific region is anticipated to witness the fastest growth over the forecast period. The growth might result from a remarkable rise in the food and beverages, cosmetics, and other end-user industry in developing countries, such as China and India. The presence of small-scale regional players and investment in the research and development activities for new product development is expected to positively impact industry growth.
Market Segmentations
Beta carotene is an orange and red pigment found in plants and fruits, especially carrots and other colourful vegetables. Vitamin A is formed from beta carotene, which is poisonous at high levels. Beta carotene has antioxidant and carotenoid properties. Vitamin A is required by the human body for healthy skin and mucus membranes, as well as a strong immune system and clear vision.
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Based on type, the market is divided into:
- Natural
- Algae
- Fungi
- Palm Oil
- Synthetic
- Others
The major applications of the market are:
- Food and Beverage
- Animal Feed
- Dietary Supplements
- Pharmaceuticals
- Cosmetics
- Others
The regional markets for the beta carotene industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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Significant Application in Animal Nutrition and Food and Beverage Industry Augmenting the Market Growth
A significant increase in the beta carotene consumption in food and beverages, dietary supplements, personal care and cosmetics, and animal feed industries is expected to impact the overall growth positively. One of the significant factors contributing to the beta carotene industry's growth is the growing demand for natural and healthy products. Rising dietary supplement intake is expected to drive the product demand, owing to rising health issues, such as vitamin deficiencies and obesity. The substance is also beneficial for reducing free radical damage in the body. Also, growing consumer awareness and concerns pertaining to the addition of synthetic ingredients have surged the demand for natural beta carotene products. Due to its high bioactivity, beta carotene is also widely used in medicines and pharmaceutical products. Beta carotene acts as a colouring agent for tablets in the pharmaceutical industry. These factors can be attributed to the global beta carotene industry expansion across the globe. Additionally, the swiftly ageing population and an upsurge in existence related chronic diseases help boost the demand for health and food supplements that contain beta carotenes. In cosmetics and personal care products, beta carotene is applied to formulate aftershave lotions, bath products, cleansing products, suntan products, shampoo, makeup, skincare products, shampoos and hair conditioners, thereby propelling the market growth globally.
Key Players in the Global Beta Carotene Market
The report gives a detailed analysis of the following key players in the global beta carotene industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BASF SE
- DDW, Inc.
- BioExtract
- Foodchem International Corporation
- Royal DSM N.V.
- Lycored Corp.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Beta Carotene Market Analysis
8.1 Key Industry Highlights
8.2 Global Beta Carotene Historical Market (2018-2022)
8.3 Global Beta Carotene Market Forecast (2023-2028)
8.4 Global Beta Carotene Market by Type
8.4.1 Natural
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.1.3 Breakup by Type
8.4.1.3.1 Algae
8.4.1.3.2 Fungi
8.4.1.3.3 Palm Oil
8.4.2 Synthetic
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Beta Carotene Market by Application
8.5.1 Food and Beverage
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Animal Feed
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Dietary Supplements
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Pharmaceuticals
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Cosmetics
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Beta Carotene Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Beta Carotene Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Beta Carotene Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Beta Carotene Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Beta Carotene Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Beta Carotene Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 BASF SE
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 DDW, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 BioExtract
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Foodchem International Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Royal DSM N.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Lycored Corp.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Beta Carotene Market: Key Industry Highlights, 2018 and 2028
2. Global Beta Carotene Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Beta Carotene Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Beta Carotene Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Beta Carotene Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Beta Carotene Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Beta Carotene Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Beta Carotene Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Beta Carotene Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Beta Carotene Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Beta Carotene Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Beta Carotene Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Beta Carotene Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Beta Carotene Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Beta Carotene Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Beta Carotene Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Beta Carotene Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Beta Carotene Market Structure.
Key Questions Answered in the Report
In 2021, the global beta carotene market attained a value of nearly USD 549.1 million.
The market is projected to grow at a CAGR of 4.60% between 2023 and 2028.
The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach USD 661.66 million by 2027.
The major drivers of the market include the changes in consumer lifestyles, increasing investment in the research and development activities, rising dietary supplement intake, rising health issues, growing consumer awareness, increasing use in pharmaceutical and cosmetics and personal care products, and growing ageing population.
Growing use in animal nutrition and the food and beverage industry and growing demand for natural and healthy products are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various types of beta carotene are natural and synthetic, among others. Natural is further divided into algae, fungi, and palm oil.
The significant applications of the market are food and beverage, animal feed, dietary supplements, pharmaceuticals, and cosmetics, among others.
The major players in the industry are BASF SE, DDW, Inc., BioExtract, Foodchem International Corporation, Royal DSM N.V., and Lycored Corp., among others.
Analyst Review
The global beta carotene market attained a value of USD 549.1 million in 2021, driven by the growing demand for natural and healthy products. Aided by the growing consumer awareness and increasing use of pharmaceutical and cosmetics, and personal care products, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 4.60%. The market is projected to reach USD 661.66 million by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various types of beta carotene are natural and synthetic, among others. Natural is further divided into algae, fungi, and palm oil. The significant applications of the market are food and beverage, animal feed, dietary supplements, pharmaceuticals, and cosmetics, among others. The major regional markets for beta carotene are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the beta carotene market are BASF SE, DDW, Inc., BioExtract, Foodchem International Corporation, Royal DSM N.V., and Lycored Corp., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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