According to the report by Expert Market Research (EMR), the global beta carotene market size reached a value of USD 478.17 million in 2023. Aided by the surging consumer inclination towards natural food colourants and the escalating demand for dietary supplements rich in antioxidants, the market is projected to further grow at a CAGR of 5.3% between 2024 and 2032 to reach a value of USD 761.03 million by 2032.
Beta carotene, a precursor to vitamin A, is a naturally occurring pigment found in plants and fruits. It is a highly sought-after ingredient in the food and beverage sector, primarily for its vibrant colour and health benefits. Beta carotene plays a critical role in promoting good vision, skin health, and immune system function. Its antioxidant properties also protect the body from free radicals, which can lead to chronic diseases. Beyond its health benefits, beta carotene’s ability to impart a natural colour to food products makes it a preferable choice over synthetic colourants, aligning with the growing consumer demand for clean-label and natural ingredients.
The food and beverage sector stands as a significant contributor to the beta carotene market growth. The increasing consumer awareness regarding the health benefits of natural ingredients and the rising demand for attractive, naturally-coloured food products have fuelled the adoption of beta carotene across this sector. It finds extensive applications in products such as soft drinks, dairy products, bakery and confectionery, and ready-to-eat meals.
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Moreover, the dietary supplements sector has emerged as a vital market for beta carotene, driven by the global surge in health consciousness and the popularity of supplements for wellness and preventive health. As per the beta carotene market analysis, the antioxidant properties of beta carotene, coupled with its immune-boosting effects, have made it a popular choice in the formulation of multivitamin supplements and antioxidant complexes. The cosmetic sector also significantly contributes to the demand for beta carotene, leveraging its benefits for skin health. Beta carotene’s protective effects against UV radiation and its role in maintaining skin health and appearance have led to its incorporation in various skincare products, including creams, lotions, and serums.
Regionally, the market has witnessed substantial growth across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America holds a substantial beta carotene market share, attributed to the high consumer awareness and the established dietary supplements market. However, Asia-Pacific is expected to exhibit the fastest growth rate during the forecast period, driven by the expanding food and beverage sector and the rising health consciousness among the population.
As consumers become increasingly concerned about environmental sustainability and ethical practices, there is a growing demand for beta carotene derived from sustainably sourced and non-GMO ingredients. As per the beta carotene market analysis, manufacturers are responding by adopting eco-friendly extraction processes, reducing waste, and ensuring their supply chains support ethical farming practices. This trend not only caters to consumer demand for transparency and sustainability but also promotes a positive brand image.
Advances in extraction technologies, such as supercritical fluid extraction and enzymatic methods, are improving the efficiency and yield of beta-carotene production, which can boost the beta carotene market share. These technologies offer cleaner, more sustainable alternatives to traditional chemical extraction methods, reducing the environmental impact and enhancing the purity and quality of the final product.
The market is characterised by the presence of several key players who are focusing on strategic collaborations, mergers, acquisitions, and innovative product launches to strengthen their position in the beta carotene market. These companies are investing in research and development activities to expand their product portfolios and meet the diverse needs of consumers across various industrial sectors.
Beta Carotene Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Natural
- Algae
- Fungi
- Palm Oil
- Synthetic
- Others
Market Breakup by Application
- Food and Beverage
- Animal Feed
- Dietary Supplements
- Pharmaceuticals
- Cosmetics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Beta Carotene Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global beta carotene market. Some of the major players explored in the report by Expert Market Research are as follows:
- BASF SE
- DDW, Inc.
- BioExtract
- Foodchem International Corporation
- Royal DSM N.V.
- Lycored Corp.
- Divi’s Laboratories Ltd.
- Allied Biotech Corporation
- Central Drug House Ltd.
- Bio-gen Extracts Private Limited
- Others
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