Increasing Demand from End-use Industries to Foster the Growth of Beta-carotene

Posted by DenMark on December 21st, 2017

“Beta-carotene Market: Global Demand Analysis & Opportunity Outlook 2024”

The global beta-carotene market is segmented into application such as food and beverage, dietary supplements, cosmetics, animal feed and others. Among these segments, food & beverage segment is expected to occupy top position in overall beta-carotene market during the forecast period. Growing preferences for natural alternatives for food ingredients is expected to positively impact the growth of the beta-carotene in food & beverage market. Furthermore, expansion of food and beverage industry across the globe is expected to trigger the growth of beta-carotene market.

Global beta-carotene market is expected to flourish at a significant CAGR of 3.1% during the forecast period. Moreover, the global beta-carotene market is expected to garner USD 583 Million by the end of 2024. Increasing demand for food & beverage with natural ingredients, rising health consciousness among people and growing utilization in cosmetic industry are some of the factors which are believed to impel the growth of the beta-carotene market during the forecast period.

North America captured the largest share in overall Global Beta-Carotene Market in 2016. The growth in the region can be attributed to rising awareness about the benefits of beta-carotene. Increasing healthcare concerns and spiked adoption of natural dietary products is anticipated to positively impact the growth of the beta-carotene market in North America. Europe market is expected to expand at a significant CAGR during the forecast period i.e. 2017-2024. Presence of large number of manufacturers in the region is envisioned to bolster the growth of beta-carotene market in the Europe region. Moreover, increasingly conscious about the ingredients in the food products has led to the growth in the demand for beta carotene.

Rising Health Awareness among the Population

Increasing consumer awareness about preventive healthcare is the key factor fueling the demand for beta-carotene. Moreover, number of people consuming dietary supplements has witnessed high growth in recent years. This factor is envisioned to bolster the market of beta-carotene.

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Wide Scale Application of Beta-carotene

Rising end use application of beta-carotene in dietary supplements, cosmetics, and animal feed is one of the major growth drivers of beta-carotene market. Further, healthcare benefits of beta carotene such as prevention from cardiovascular diseases and healthy skin and eyes are expected to augment the demand for beta-carotene in the upcoming years. Although, lack of awareness and presence of local manufacturers are some of the factors is likely to dampen the growth of beta-carotene market during the forecast period.

The report titled “Beta-carotene Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global beta-carotene market in terms of market segmentation by type, by source, by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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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, Chr. Hansen A/S, Phytone Limited, Cyanotech Corporation, Royal DSM N.V., LycoRed Ltd., Overseal Natural Ingredients Ltd., Pharmline Inc., Sensient Technologies Corporation and Foodchem International 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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