The increasing demand for naturally-sourced beta carotene due to its health benefitting properties is a key factor driving the global beta carotene market, says Fortune Business Insights in a report, titled “Beta Carotene Market” Size, Share and Global Trend by Product Type (Synthetic Beta Carotene, Natural Beta Carotene), By Application (Food and Beverage, Dietary Supplements, Cosmetics, Animal Feed, Pharmaceuticals, Others) and Geography Forecast till 2026.” Increasing geriatric population is a factor expected to aid growth to the global beta carotene market.
Some of the major companies that are present in the global beta carotene market are
- Naturex SA
- BASF SE
- Hansen Holding A/S
- Flavorchem Cor poration
- Foodchem International Corporation
- LycoRed Ltd.
- Koninklijke DSM N.V.
- Parry Nutraceuticals Limited
- Bio Extracts (Pvt) Ltd.
- Zhejiang Medicine Co. Ltd. and D.D. Williamson and Co., Inc.,
Increasing Prevalence of Chronic Disease Will Augment Growth
The increasing demand for naturally-sourced beta carotene due to its health benefits as well as its application across several major industries is a factor driving the global beta carotene market.
Further, increasing geriatric population along with rising prevalence of chronic disease around the world is likely to contribute to the global beta carotene market growth. The presence of skin-protective properties in beta carotene will fuel demand among cosmetics and personal care industry, which in, turn, will aid beta carotene market revenue.
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Furthermore, the launch of beta-carotene colorant is also expected to enable global beta carotene market growth. For instance, BASF launched a novel 10% beta-carotene colorant to replace artificial dyes such as azo dyes. Lucarotin 10 CWD/O Plus claims to be light and heat stable, and can disperse quickly without disturbing the sensory characteristics of the product. Moreover, the expansion of beta-carotene colouring product line will contribute profoundly to the global beta carotene market shares.
For instance, a prominent carotenoid products manufacturer announced the expansion of its beta-carotene colouring product line. The company’s plan to expand its product line was to fulfil the rising demand of beta-carotene from food and beverage manufacturers. However, Excessive consumption of beta carotene supplements and products can result in joint pain, loss of stools, change in color, and other health complications.
Major Segmentation include;
By Product Type
- Synthetic Beta Carotene
- Natural Beta Carotene
- Food and Beverage
- Dietary Supplements
- Animal Feed
These factors may hinder the growth of the global beta carotene market. In addition, Stringent regulations by food regulatory authorities on the use and commercialization of food ingredients is further expected to restrict the growth of the global beta carotene market.
Increasing Demand from Food and Beverage Industry Will Boost Growth In Asia Pacific
Geographically, the global beta carotene market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to dominate the global beta carotene market during the forecast period owing to increasing demand for beta-carotene from food and beverage industry of populous Asian countries such as India and China.
Further, Cost-efficiency of the product is expected to be a key factor in fuelling demand for the production of personal care and cosmetics products as well as animal feed in the region. The beta carotene market in Europe is predicted to grow at a significant rate during the forecast period due to the surge in consumption beta carotene-based products attributed by health benefits offered by the products. This factor is predicted to support the growth of the global beta carotene market in Europe in the forthcoming year.
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