The global beta-carotene market was valued at USD 518.0 million in 2018 and is expected to reach USD 632.0 million in 2026, growing at a CAGR of 4.1% during the forecast period.
Carotenoids are colorful pigments that possess preventive properties against various terrible diseases. Beta-carotene is a fat-soluble pigment found in a variety of plants, grains, fruits, and vegetables. It is present in the form of red, orange and yellow pigments. A few carotenoids are converted into vitamin A by the body. Some carotenoids possess antimicrobial behavior that protects the lining of the arteries. They play a vital role in the prevention of cancer. Carotenes offer protection against heart disease.
Beta-Carotene Market Segmentation |
|
| By Source | 1. Algae |
| 2. Fungi | |
| 3. Palm Oil | |
| 4. Synthetic | |
| 5. Others | |
| By Application | 1. Food & Beverages |
| 2. Pharmaceutical | |
| 3. Animal Feed | |
| 4. Others | |
| By Region | 1. North America (US and Canada) |
| 2. Europe (UK, Germany, France and Rest of Europe) | |
| 3. Asia Pacific (China, Japan, India and Rest of Asia Pacific) | |
| 4. Latin America (Brazil, Mexico and Rest of Latin America) | |
| 5. Middle East & Africa (GCC and Rest of Middle East & Africa) | |
Increasing consumer awareness of the anti-cancer, anti-aging and other health benefits of beta-carotene and antioxidants has led to a rise in demand for these ingredients in food, feed, and personal care products. Rapidly aging populations and increasing lifestyle-related chronic diseases help in enhancing demand for food and health supplements containing beta-carotene.
Based on source, the algae expected to dominate the market throughout the forecast period
Based on the source, the beta-carotene market is segmented by algae, fungi, palm oil, synthetic and other. The algae segment accounted for more than 35% share of the global beta-carotenes market. Moreover, the algae segment growth is primarily due to the increased use of Microalgae-derived beta-carotene. The microalgae-derived beta-carotene is anticipated to be widely used in the near future at an industrial level. Some algal strains type, such as spirulina, comprise more beta-carotene than carrots, more chlorophyll than wheatgrass, and more iron than spinach.
Based on application, the food & beverages segment is expected to grow at a CAGR of around 8.1% throughout the forecast period
Based on application, the beta-carotene market has been segmented into food & beverage, pharmaceutical, animal feed, and others. The food and beverage type accounts of the largest share in the market and are expected to grow at a CAGR of around 8.1% during the forecast period. Beta-carotenes are widely used as a natural color source in food processing industries, providing a variety of red, yellow, and orange versions. Because of the emerging demand for natural ingredients and additives, the food processing industry has adopted beta-carotenes as a standard coloring agent in various products such as confectionaries, dressings, and other foodstuffs. Various public health concerns have resulted from the increasing prevalence of vitamin A deficiencies and related diseases in developing economies like India, Bangladesh, Pakistan, and other South Asian countries.
North America is expected to dominate the beta-carotene market throughout the forecast period
Globally, it is anticipated that North America dominates the market with 33% market share in terms of income followed during the forecast period by Europe. The U.S. is expected to occupy the major share in the beta-carotene market in North America, followed by Canada. It is expected that increasing consumer health awareness will drive beta-carotene growth across the region. During the forecast period, Germany and France are expected to account for the major market share of beta-carotene in Europe. China and Japan are expected to be the major contributor to the beta-carotene market in the Asia-Pacific region. It is predicted that the increased use of cosmetics products in this region will support the growth of the region's beta-carotene market.
Company Profiles and Competitive Intelligence:
The major players operating in the global beta-carotene market are Royal DSM, Sensient Technologies, Chr. Hansen, and BASF SE. Other players include FMC Corporation, Foodchem International, D.D. Williamson & Co. Inc., Merck & Company Inc., and Lycored Corp. among others.
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Chapter 1 Executive Summary
1.1. Market Summary
1.1.1. Global Beta-Carotene Market, 2016-2026, (USD Million)
1.2. Market Snapshot: Global Beta-Carotene Market
1.3. Market Dynamics
1.4. Global Beta-Carotene Market, by Segment, 2018
1.4.1. Global Beta-Carotene Market, by Source, 2018, (USD Million)
1.4.2. Global Beta-Carotene Market, by Application, 2018, (USD Million)
1.4.3. Global Beta-Carotene Market, by Region, 2018 (USD Million)
1.5. Premium Insights
1.5.1. Beta-Carotene Market in Developed Vs. Developing Economies, 2018 vs 2023
1.5.2. Global Beta-Carotene Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1. Market Overview
2.2. Market Drivers
2.2.1. Increasing Demand for Natural Colors in Food Industry
2.2.2. Growing demand for organic and natural Animal Feed among consumers
2.3. Market Restraints
2.3.1. Stringent Regulatory and Approval Norms
2.3.2. Lack of R&D in African and Middle-East Countries
2.4. Market Opportunities
2.4.1. Awareness About the Medicinal Applications
2.4.2. Growth of the Aquaculture Industry
2.5. Industry Value Chain Analysis
2.6. Pricing Analysis
2.7. Porter’s Five Forces Analysis
Chapter 3 Global Beta-Carotene Market, by Source
3.1. Market Overview, by Source
3.1.1. Global Beta-Carotene Market, by Source, 2016-2026 (USD Million)
3.1.2. Incremental Opportunity, by Source, 2018
3.2. Algae
3.2.1. Global Beta-Carotene Market, by Algae, 2016-2026, (USD Million)
3.3. Fungi
3.3.1. Global Beta-Carotene Market, by Fungi, 2016-2026, (USD Million)
3.4. Palm Oil
3.4.1. Global Beta-Carotene Market, by Palm Oil, 2016-2026, (USD Million)
3.5. Synthetic
3.5.1. Global Beta-Carotene Market, by Synthetic, 2016-2026, (USD Million)
3.6. Others
3.6.1. Global Beta-Carotene Market, by Others, 2016-2026, (USD Million)
Chapter 4 Global Beta-Carotene Market, by Application
4.1. Market Overview, by Application
4.1.1. Global Beta-Carotene Market, by Application, 2016-2026 (USD Million)
4.1.2. Incremental Opportunity, by Application, 2018
4.2. Food & Beverages
4.2.1. Global Beta-Carotene Market, by Food & Beverages, 2016-2026, (USD Million)
4.3. Pharmaceutical
4.3.1. Global Beta-Carotene Market, by Pharmaceutical, 2016-2026, (USD Million)
4.4. Animal Feed
4.4.1. Global Beta-Carotene Market, by Animal Feed, 2016-2026, (USD Million)
4.5. Others
4.5.1. Global Beta-Carotene Market, by Others, 2016-2026, (USD Million)
Chapter 5 Global Beta-Carotene Market, by Region
5.1. Market Overview, by Region
5.1.1. Global Beta-Carotene Market, by Region, 2016-2026, (USD Million)
5.2. Attractive Investment Opportunity, by Region, 2018
5.3. North America Beta-Carotene Market
5.3.1. North America Beta-Carotene Market, by Source, 2016-2026 (USD Million)
5.3.2. North America Beta-Carotene Market, by Application, 2016-2026 (USD Million)
5.3.3. United States Beta-Carotene Market, 2016-2026 (USD Million)
5.3.4. Canada Beta-Carotene Market, 2016-2026 (USD Million)
5.4. Europe Beta-Carotene Market
5.4.1. Europe Beta-Carotene Market, by Source, 2016-2026 (USD Million)
5.4.2. Europe Beta-Carotene Market, by Application, 2016-2026 (USD Million)
5.4.3. United Kingdom Beta-Carotene Market, 2016-2026 (USD Million)
5.4.4. Germany Beta-Carotene Market, 2016-2026 (USD Million)
5.4.5. France Beta-Carotene Market, 2016-2026 (USD Million)
5.4.6. Rest of Europe Beta-Carotene Market, 2016-2026 (USD Million)
5.5. Asia Pacific Beta-Carotene Market
5.5.1. Asia Pacific Beta-Carotene Market, by Source, 2016-2026 (USD Million)
5.5.2. Asia Pacific Beta-Carotene Market, by Application, 2016-2026 (USD Million)
5.5.3. China Beta-Carotene Market, 2016-2026 (USD Million)
5.5.4. Japan Beta-Carotene Market, 2016-2026 (USD Million)
5.5.5. India Beta-Carotene Market, 2016-2026 (USD Million)
5.5.6. Rest of Asia Pacific Beta-Carotene Market, 2016-2026 (USD Million)
5.6. Latin America Beta-Carotene Market
5.6.1. Latin America Beta-Carotene Market, by Source, 2016-2026 (USD Million)
5.6.2. Latin America Beta-Carotene Market, by Application, 2016-2026 (USD Million)
5.6.3. Brazil Beta-Carotene Market, 2016-2026 (USD Million)
5.6.4. Mexico Beta-Carotene Market, 2016-2026 (USD Million)
5.6.5. Rest of Latin America Beta-Carotene Market, 2016-2026 (USD Million)
5.7. Middle East & Africa Beta-Carotene Market
5.7.1. Middle East & Africa Beta-Carotene Market, by Source, 2016-2026 (USD Million)
5.7.2. Middle East & Africa Beta-Carotene Market, by Application, 2016-2026 (USD Million)
5.7.3. GCC Beta-Carotene Market, 2016-2026 (USD Million)
5.7.4. Rest of Middle East & Africa Beta-Carotene Market, 2016-2026 (USD Million)
Chapter 6 Competitive Intelligence
6.1. Top 5 Players Comparison
6.2. Market Positioning of Key Players, 2018
6.3. Market Players Mapping
6.3.1. By Source
6.3.2. By Application
6.3.3. By Region
6.4. Strategies Adopted by Key Market Players
6.5. Recent Developments in the Market
6.5.1. Mergers & Acquisitions, Partnership, New Source Developments
Chapter 7 Company Profiles
7.1. BASF SE
7.1.1. BASF SE Overview
7.1.2. BASF SE Product Portfolio
7.1.3. BASF SE Financial Overview
7.1.4. BASF SE News/Recent Developments
7.2. Royal DSM
7.2.1. Royal DSM Overview
7.2.2. Royal DSM Product Portfolio
7.2.3. Royal DSM Financial Overview
7.2.4. Royal DSM News/Recent Developments
7.3. Sensient Technologies
7.3.1. Sensient Technologies Overview
7.3.2. Sensient Technologies Product Portfolio
7.3.3. Sensient Technologies Financial Overview
7.3.4. Sensient Technologies News/Recent Developments
7.4. D.D. Williamson & Co. Inc.
7.4.1. D.D. Williamson & Co. Inc. Overview
7.4.2. D.D. Williamson & Co. Inc. Product Portfolio
7.4.3. D.D. Williamson & Co. Inc. Financial Overview
7.4.4. D.D. Williamson & Co. Inc. News/Recent Developments
7.5. Lycored Corp.
7.5.1. Lycored Corp. Overview
7.5.2. Lycored Corp. Product Portfolio
7.5.3. Lycored Corp. Financial Overview
7.5.4. Lycored Corp. News/Recent Developments
7.6. Bioextract
7.6.1. Bioextract Overview
7.6.2. Bioextract Product Portfolio
7.6.3. Bioextract Financial Overview
7.6.4. Bioextract News/Recent Developments
7.7. Parry Nutraceuticals
7.7.1. Parry Nutraceuticals Overview
7.7.2. Parry Nutraceuticals Product Portfolio
7.7.3. Parry Nutraceuticals Financial Overview
7.7.4. Parry Nutraceuticals News/Recent Developments
7.8. Foodchem International
7.8.1. Foodchem International Overview
7.8.2. Foodchem International Product Portfolio
7.8.3. Foodchem International Financial Overview
7.8.4. Foodchem International News/Recent Developments
7.9. Allied Biotech Corp.
7.9.1. Allied Biotech Corp. Overview
7.9.2. Allied Biotech Corp. Product Portfolio
7.9.3. Allied Biotech Corp. Financial Overview
7.9.4. Allied Biotech Corp. News/Recent Developments
Chapter 8 Preface
8.1. Data Triangulation
8.2. Research Methodology
8.2.1. Phase I – Secondary Research
8.2.2. Phase II – Primary Research
8.2.3. Phase III – Expert Panel Review
8.2.4. Approach Adopted
8.2.4.1. Top-Down Approach
8.2.4.2. Bottom-Up Approach
8.2.5. Supply- Demand side
8.2.6. Breakup of the Primary Profiles
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