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Pulished Date February, 2020
ID: 3663
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Global Beta Carotene Market - Segmented By Application (Pharmaceuticals, Dietary Supplements, Food & Beverage, Animal Feed, Others), By Source (Syntheric, Algae, Fungi, Palm Oil, Others), & By Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2020 – 2025)

Pulished: February, 2020
ID: 3663
Pages: 175

Beta Carotene Market Growth and Forecast (2020-2025):

The Global Beta Carotene Market size was worth US$ 314.14 billion in 2020, and it is estimated to reach a valuation of US$ 380.37 billion by the end of 2025, rising at an annual compound rate of 3.9% between 2020 and 2025. The growing demand for naturally-derived products in the food and beverage and dietary supplement industries is expected to be a significant driving force in the global market.

Beta Carotene Market

Market Overview:

Beta-carotene is a natural chemical that is responsible for the red-yellow color in various plants. Beta carotene, a natural pigment, is adopted as a food coloring in various food processing industries such as beverage, confectionery, packaged food, etc. Beta carotene is supplied in bulk from the plant, animal, and microbial sources to meet the demand for colorants in various end-use industries. Beta-carotene is rich in antioxidant nutrients, and in recent years there has been an increasing demand for pharmaceuticals and dietary supplements. It is natural retinol, so it is converted to vitamin A during digestion. As a functional component of food and combined processing, there is an increasing demand for beta-carotene in food processing. Beta-carotene is also applied to natural and synthetic cosmetics due to its high concentration of antioxidants and vitamin A. Due to the expansion of applications and the increase in demand, and the beta-carotene market is supposed to increase in value and volume during the forecast period.

Recent Developments in Beta Carotene Industry:

  • BASF SE introduced Lucarotin 10 CWD/O Plus in 2017, which comprises about 10% beta-carotene powder.

  • Evolva will sign a distribution agreement with Veri-te ™ Resveratrol in North America for B & D nutritional ingredients to allow natural beta-carotene to be applied to the food and beverage and dietary supplement industries in the United States.
  • GacLife has launched the world's first line of Gac-based wellness products with vision and skincare capabilities. Gac fruit is a fruit found in some areas of Southeast Asia and consists of high concentrations of carotenoids, antioxidants, and other nutrients.
  • DSM acquired Vitatene, a beta-carotene producer from primary fermentation. This allowed us to strengthen the company's market position further.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 – 2025

Base Year

2019

Forecast Period

2020 - 2025

CAGR

3.9%

Segments Covered

By Source, Application and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

DSM N.V., BASF SE, CHR Hansen Holding A/S, Foodchem International Corporation, Flavorchem Corporation, Lycored, D.D. Williamson & Co., Inc, BioExtract, Nutralliance, Zhejiang Medicine Co., Ltd and Others.

Beta Carotene Market Growth:

An aging population and an increase in chronic lifestyle-related diseases help to increase demand for beta-carotene-containing foods and dietary supplements.

Drivers:

The demand for these ingredients in food, feed and personal care products has skyrocketed as consumer awareness of beta-carotene and antioxidants protect against cancer, aging and other health benefits. The industry is presumed to witness incredible growth in the next eight years. The tremendous rise in the adoption of beta-carotene in sectors like food and beverage, personal care, cosmetics, animal feed, dietary supplements and others is likely to promote the business in the coming years. The increasing demand for natural crude carotene products is suspected to accelerate global industrial growth. As the use of beta-carotene to develop natural colors in various foods and beverages has increased, it has become popular with consumers in recent years.

Beta-carotene, along with food and beverages, is gaining considerable attention in dietary supplements as consumer interest in natural and vitamin-mineral rich supplements increases. As consumer demand for organic and natural cosmetics has increased, manufacturers and product developers have started using beta-carotene as a critical ingredient in many cosmetic and personal care products. However, natural beta-carotene has recently been introduced into organic cosmetics. This is presumed to launch new products with natural ingredients such as beta-carotene, which are anticipated to drive growth in the global beta-carotene market during the outlook period. In Europe, beta carotene is the most preferred dye in the food processing industry. Beta-carotene is widely used in the food processing industry as a source of natural colors that provide various shades of red, yellow, and orange. The food processing industry has adopted beta-carotene as a standard colorant for a variety of products such as challenges, dressings, and other food products as demand for natural ingredients and additives increases. Therefore, increasing consumer awareness of the health benefits of natural color sources like beta carotene in recent years is one of the main drivers of the global beta carotene market.

As an organic compound, beta-carotene is most applied in drug development and pharmaceutical processing of carriers. Additionally, beta-carotene is rich in antioxidant nutrients that treat oxidative stress and improve cognitive function. The demand for beta-carotene has increased significantly between drug development and drug manufacturers over the past decade. Therefore, the pharmaceutical consumption of beta-carotene is one of the main driving forces driving the growth of the global beta-carotene market size.

Restraints:

Overuse of these products over a long period has a number of side effects that can cause stool loss, bruising, and joint pain and make the skin orange or yellow. Several studies have shown that taking long-term high-dose supplements can increase the risk of certain types of cancer. Smokers who take these supplements increase their risk of colon, prostate, and lung cancer.

Beta Carotene Market Segmentation Analysis:

By Source:

  • Syntheric     
  • Algae
  • Fungi
  • Palm Oil

By Application:

  • Pharmaceuticals    
  • Dietary Supplements       
  • Food & Beverage    
  • Animal Feed

Geographical Segmentation Analysis:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

Globally, North America is anticipated to occupy Europe after most of the global beta-carotene market. In the North America beta-carotene market, the United States is supposed to account for the dominant share in the overall revenue, followed by Canada. Increased health awareness among consumers is supposed to fuel the growth of beta carotene in the region. In Europe, Germany and France are likely to occupy a significant share of the beta-carotene market during the forecast period. Europe had become a significant consumer and accounted for more than 35% of world demand in 2015, and the region is experiencing the presence of many producers and consumers of products with the latest technology. Europe is expected to show the same growth trend in the future.

In contrast, the Asia Pacific region is foreseen to post healthy growth by 2020. In the Asia Pacific region, China and Japan are expected to be the main contributors to the global beta-carotene market. The increased use of cosmetics in the area is presumed to support the growth of the beta-carotene market in the region. The Asia Pacific region is expected to witness the fastest growth during the projection period. Growth may be the result of a significant increase in the region's food and beverage, cosmetics and other end-user industries. The presence of small regional players and investments in R&D activities to develop new products are anticipated to have a positive impact on industrial growth.

Leading Company:

The industry is dominated by two large companies, DSM N.V. & BASF SE. These companies are gaining market share by adopting strategies such as mergers and acquisitions, new product development, and collaboration with other industry participants.

Key Players in the Market:

Major Key Players in the Global Beta Carotene Market are

  • DSM N.V.                 
  • BASF SE          
  • CHR Hansen Holding A/S              
  • Foodchem International Corporation                 
  • Flavorchem Corporation               
  • Lycored          
  • D.D. Williamson & Co., Inc            
  • BioExtract                
  • Nutralliance             
  • Zhejiang Medicine Co., Ltd  

1. Introduction                         

          1.1 Market Definition                

          1.2 Scope of the report             

          1.3 Study Assumptions             

          1.4 Base Currency, Base Year and Forecast Periods            

2. Research Methodology                    

          2.1 Analysis Design                  

          2.2 Research Phases                 

                   2.2.1 Secondary Research

                   2.2.2 Primary Research    

                   2.2.3 Data Modeling        

                   2.2.4 Expert Validation    

          2.3 Study Timeline          

3. Report Overview                   

          3.1 Executive Summary             

          3.2 Key Inferences          

4. Market Dynamics                            

          4.1 Impact Analysis                  

                   4.1.1 Drivers         

                   4.1.2 Restraints    

                   4.1.3 Opportunities         

          4.2 Regulatory Environment                

          4.3 Technology Timeline & Recent Trends               

5. Competitor Benchmarking Analysis                     

          5.1 Key Player Benchmarking               

                   5.1.1 Market share analysis       

                   5.1.2 Products/Service    

                   5.1.3 Regional Presence   

          5.2 Mergers & Acquisition Landscape             

          5.3 Joint Ventures & Collaborations               

6. Market Segmentation                      

          6.1 Beta Carotene Market, By Source             

                   6.1.1 Syntheric      

                   6.1.2 Algae 

                   6.1.3 Fungi 

                   6.1.4 Palm Oil       

                   6.1.5 Market Size Estimations & Forecasts (2020 - 2025) 

                   6.1.6 Y-o-Y Growth Rate Analysis       

                   6.1.7 Market Attractiveness Index       

          6.2 Beta Carotene Market, By Application                

                   6.2.1 Pharmaceuticals     

                   6.2.2 Dietary Supplements        

                   6.2.3 Food & Beverage     

                   6.2.4 Animal Feed 

                   6.2.5 Market Size Estimations & Forecasts (2020 - 2025) 

                   6.2.6 Y-o-Y Growth Rate Analysis       

                   6.2.7 Market Attractiveness Index       

7. Geographical Landscape                            

          7.1 Global Identity Governance and Administration Market, by Region              

          7.2 North America - Market Analysis (2020 - 2025)         

                   7.2.1 By Country   

                             7.2.1.1 USA

                             7.2.1.2 Canada

                   7.2.2 By Source     

                   7.2.3 By Application        

          7.3 Europe            

                   7.3.1 By Country   

                             7.3.1.1 UK

                             7.3.1.2 France

                             7.3.1.3 Germany

                             7.3.1.4 Spain

                             7.3.1.5 Italy

                             7.3.1.6 Rest of Europe

                   7.3.2 By Source     

                   7.3.3 By Application        

          7.4 Asia Pacific               

                   7.4.1 By Country   

                             7.4.1.1 China

                             7.4.1.2 India

                             7.4.1.3 Japan

                             7.4.1.4 South Korea

                             7.4.1.5 South East Asia

                             7.4.1.6 Australia & NZ

                             7.4.1.7 Rest of Asia-Pacific

                   7.4.2 By Source     

                   7.4.3 By Application        

          7.5 Latin America            

                   7.5.1 By Country   

                             7.5.1.1 Brazil

                             7.5.1.2 Argentina

                             7.5.1.3 Mexico

                             7.5.1.4 Rest of Latin America

                   7.5.2 By Source     

                   7.5.3 By Application        

          7.6 Middle East and Africa         

                   7.6.1 By Country   

                             7.6.1.1 Middle East

                             7.6.1.2 Africa

                   7.6.2 By Source     

                   7.6.3 By Application        

8. Key Player Analysis                         

          8.1 DSM N.V.                  

                   8.1.1 Business Description        

                   8.1.2 Products/Service    

                   8.1.3 Financials     

                   8.1.4 SWOT Analysis       

                   8.1.5 Recent Developments       

                   8.1.6 Analyst Overview    

          8.2 BASF SE           

          8.3 CHR Hansen Holding A/S               

          8.4 Foodchem International Corporation                  

          8.5 Flavorchem Corporation                

          8.6 Lycored           

          8.7 D.D. Williamson & Co., Inc             

          8.8 BioExtract                 

          8.9 Nutralliance              

          8.10 Zhejiang Medicine Co., Ltd          

9. Market Outlook & Investment Opportunities                            

Appendix                        

          List of Tables                  

          List of Figures                 

 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The Segment-level analysis in terms of By Source, Application and along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

 

 

  1. Global Beta Carotene Market By Region, From 2020-2025 ( USD Billion )
  2. Global Beta Carotene Market By Source, From 2020-2025 ( USD Billion )
  3. Global Syntheric Market By Region, From 2020-2025 ( USD Billion )
  4. Global Algae Market By Region, From 2020-2025 ( USD Billion )
  5. Global Fungi Market By Region, From 2020-2025 ( USD Billion )
  6. Global Palm Oil Market By Region, From 2020-2025 ( USD Billion )
  7. Global Beta Carotene Market By Application, From 2020-2025 ( USD Billion )
  8. Global Pharmaceuticals Market By Region, From 2020-2025 ( USD Billion )
  9. Global Dietary Supplements Market By Region, From 2020-2025 ( USD Billion )
  10. Global Food & Beverage Market By Region, From 2020-2025 ( USD Billion )
  11. Global Animal Feed Market By Region, From 2020-2025 ( USD Billion )

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