Beta-Carotene Market Size – USD 484.1 Million in 2018, Market Growth - CAGR of 3.3%, Market Trends – Rising demand for beta-carotene supplements in treating vitamin A deficiency.
New York, NY -- (SBWIRE) -- 03/05/2021 -- The Global Beta-Carotene Market
is expected to reach USD 654.0 Million by 2027, according to a new report by Reports and Data. Beta-carotenes are the type of phytonutrients found in the cells of a wide variety of plants, algae, and bacteria. These phytonutrients help plants absorb light energy for use in photosynthesis. Beta-carotenes are essential anti-oxidants that play a significant role in animal health.
Beta-carotenes are extensively used as coloring agents in the food and beverage industry. Nevertheless, with biotechnological advancements coupled with innovations in recombinant DNA technology, the extraction of carotenoids is now commercially feasible. Owing to this, there is an increase in the production of beta-carotene products. The rise in consumer awareness regarding the health benefits of beta-carotene supplements and fortified foods has led to the use of such products as a preventive measure against various health conditions including arthritis, diabetes, obesity, cancer, macular degeneration, and skin damage, among others.
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According to the research report, the companies actively engaged in the report include
FoodChem International Corporation
DD Williamson & Co. Inc
The growth in the market demand for functional foods is also estimated to propel the market demand. The beta-carotene market is projected to rise significantly in the forecast period owing to high demand in end-use applications comprising food & beverages, animal feed, dietary supplements, personal care, and pharmaceuticals, among others
For the purpose of this report, Reports and Data have segmented the global beta-carotene market on the basis of product type, source, application, and region:
Product Type Outlook (Revenue, USD Million; 2016-2027)
Water Soluble Beta-Carotene
Source Outlook (Revenue, USD Million; 2016-2027)
Application Outlook (Revenue, USD Million; 2016-2027)
Food & Beverages
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Regional Outlook (Revenue, USD Million; 2016-2027)
Further key findings from the report suggest:
By source, natural sources of production of carotenoids are forecasted to observe the highest growth rate of 3.5% in the forecast period. Rising consumer awareness about the health benefits and the gains associated with natural products is projected to boost market demand throughout the forecast period.
Oral route of administering of water-soluble beta-carotene is used in the treatment of duodenal ulcer, causes a significant reduction of inflammatory and atrophic lesions, and quicker healing in the test subjects as compared to the controls.
By industry vertical, the food & beverage industry contributed to the second-largest market share in 2018 and is likely to grow at a rate of 3.1% in the forecast period. The widespread use of beta-carotene as a coloring agent in food & beverages is a prominent factor responsible for the high demand in this industry.
Europe held the largest market share in 2018 and is likely to grow at a rate of 2.9% in the forecast period. The market dominance of Europe is owing to the growth of the end-user industries in the region.
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Major Highlights of the Report:
The latest report offers a vivid depiction of the global Beta-Carotene business sphere, with prime focus on its fundamental operations, industrial chain analysis, current and future market trends, as well as the prominent growth opportunities.
The report includes critical information on the present and historical market scenarios. Such information is used by market analysts to forecast the likely market conditions over the next eight years (2020-2027).
The strategic marketing recommendations, vital information related to the new market entrants, and the expansion plans of various business verticals are expected to help the reader visualize the competitive edge of the market.
Furthermore, the report scrutinizes the salient factors influencing the growth of the market in the near future.
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Beta-Carotene Segmentation & Impact Analysis
4.1. Beta-Carotene Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Growth of end-use Industries
184.108.40.206. Increasing use of beta-carotenes in treating chronic diseases
220.127.116.11. Rising demand for beta-carotene supplements in treating Vitamin-A deficiency
18.104.22.168. Increased investment in R&D to develop high-quality natural beta-carotene
4.2.3. Market restraints analysis
22.214.171.124. Stringent Legislations and regulatory norms
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis=
Chapter 5. Beta-Carotene Market By Product Type Insights & Trends
5.1. Product Type dynamics & Market Share, 2019 & 2027
5.2. Water-Soluble Beta-Carotene
5.2.1. Market estimates and forecast, 2016 – 2027 (USD Million)
5.2.2. Market estimates and forecast, by region, 2016 – 2027 (USD Million)
5.3. Fat Soluble Beta-Carotene
5.3.1. Market estimates and forecast, 2016 – 2027 (USD Million)
5.3.2. Market estimates and forecast, by region, 2016 – 2027 (USD Million)
Chapter 6. Beta-Carotene Market By Source Insights & Trends