Research Nester published a report titled “Beta Carotene Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global beta carotene market in terms of market segmentation by source, product type, form, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global beta carotene market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e., 2022-2031. The market is segmented by product type into synthetic beta carotene and natural beta carotene. Out of these, the natural beta carotene segment is anticipated to garner the largest revenue by the end of 2031. An increasing use of natural beta carotene as a coloring agent in the food industry is expected to drive segment growth during the forecast period. For instance, natural beta carotene is used in different ways in the food industry, such as, colorants, butter and margarine, oil, cheese, ice cream, biscuits, milk alternatives, soups, and eggs.
The global beta carotene market is estimated to garner significant revenue by the end of 2031, up from modest revenue in the year 2021. Raising consumer awareness about beta-carotene, widespread utilization in various end use industries such as beauty & personal care, pharmaceuticals, food and beverage industry along with higher acceptance of organic ingredients are some of the major factors anticipated to drive the growth of the global beta carotene market during the forecast period.
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Geographically, the global beta carotene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to garner the largest revenue by the end of 2031. The majority of the population consumes a large amount of beta carotene or vitamin A in their diet, which is expected to drive the market in the region. It has been noted that beta carotene consumption in the United States is approximately 60% to 80%. In the United States, 30-40% of the vitamin A consumed by children and adolescents comes from enriched and fortified foods.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Globally Increasing Rate of Alzheimer’s Disease to Drive Market Growth-
In 2020, over 5.8 million Americans were diagnosed with Alzheimer’s disease, according to the Centers for Disease Control and Prevention. Approximately 14 million people are expected to live with Alzheimer’s disease by 2060.
Market growth has been positively impacted by the increasing number of Alzheimer’s patients. In addition to improving memory and cognitive function, beta carotene has also been proven to reduce oxidative stress. It has been noticed that antioxidants such as beta carotene may help prevent Alzheimer’s disease and age-related mental impairment. Hence, beta carotene demand is expected to increase over the forecast period.
However, consumption of excessive beta-carotene is associated with multiple health problems as well as insufficient knowledge about the product are expected to operate as key restraint to the growth of global beta carotene market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global beta carotene market which includes company profiling of BASF SE, Kemin Industries Inc., Algatechnologies Ltd., Chr. Hansen A/S, Phytone Limited, Cyanotech Corporation, Royal DSM N.V., LycoRed Ltd., Overseal Natural Ingredients Ltd., Pharmline Inc., Sensient Technologies Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global beta carotene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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