Beta-carotene is widely utilized for the development of natural colors, which are in high demand across varied end-use industries including food and beverages industries. The global beta-carotene market is estimated gain prodigious expansion opportunities on the back of surge in product use across food processing industries.
A research report by Transparency Market Research (TMR) notes that the global beta-carotene market is estimated to expand at a CAGR of 3.8% during the forecast period of 2019 to 2027.
The assessment presented in the TMR research report gives thorough data and analysis of major important facets such as growth drivers, challenges, restraints, present and historical trends, and growth opportunities in the beta-carotene market.
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Beta-carotene refers to a pigment that can create yellow and red coloring in different types of fruits and plants. It comprises plenty of antioxidants, and can aid in the protection of cells against damage due to oxidation. Beta-carotene is used as a coloring agent in various industry verticals such as feed, food, cosmetic, and pharmaceutical industries. This wide range of product use is expected to help in the promising growth of the global beta-carotene market in the upcoming years.
Market To Experience Lucrative Opportunities from Food and Beverages Industries
In the food and beverages industries, beta-carotene is increasingly used as a natural coloring agent in many food items including confectionaries, drinks, and other such products. Thus, the companies operating in the global beta-carotene market are expected to observe notable sales opportunities from the food and beverages industries.
Surge in Demand for Nutraceuticals and Dietary Supplements Drives Market Growth
In recent years, the companies engaged in the production of nutraceuticals and dietary supplements are growing the use of beta-carotene, as it is rich in vitamin A (retinol). Consumer today are inclining toward consumption of natural dietary supplements and supplements rich in minerals and vitamins. This factor is bringing extensive sales opportunities for players in the beta-carotene market.
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With the hectic lifestyle of major populace across many developed and developing countries around the world, this customer base is inclined toward the selection of food products that take less time for preparation and are easy to carry. This scenario is boosting the demand for processed food products, which in turn, is likely to generate prominent revenue streams in the global beta-carotene market in the years ahead.
Cosmetics Industry Expected to Emerge As Prominent Market Growth Contributor
Consumers today are increasing the use of natural and organic cosmetics. Considering this trend, major cosmetic product developers are increasing the use of beta-carotene as a prime component in many of their personal care and cosmetics products. This factor is likely to work in favor of the global beta-carotene market expansion during the upcoming years.
Koninklijke DSM N.V., BASF SE., Vidya Herbs PVT Ltd., Chr. Hansen A/S DDW The Colour House Corporation, Novus International, Allied Biotech Corporation, Vinayak Ingredients India Pvt Ltd., Nutralliance is US, BioExtract, and Carotech Berhad are some of the key players working in the global beta-carotene market.
Europe, North America, Asia Pacific, Middle East and Africa, and Latin America are key regions for the global beta-carotene market. Of them, Europe seems to be one of the lucrative regions for the market growth.
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Global Beta-Carotene Market Segmentation
The report on the global beta-carotene market is presented in the form of different segments. This market segmentation is performed on the basis of varied prime aspects such as source, end-use, and region. Based on source, the market for beta-carotene is bifurcated into algae & fungi, synthetic, and fruits & vegetables. In terms of end-use, the beta-carotene market is classified into many parts such as aquaculture feed, food, dietary supplements, poultry & pet feed, cosmetics, and pharmaceuticals.
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