Beta-carotene Market by Application and Geography - Forecast and Analysis 2021-2025

The beta-carotene market share is expected to increase by USD 80.18 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.02%.

This beta-carotene market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers beta-carotene market segmentations by application (food and beverages, dietary supplements, cosmetics, and animal feed) and geography (Europe, North America, APAC, MEA, and South America). The beta-carotene market report also offers information on several market vendors, including Allied Biotech Corp., BASF SE, BioExtract, Chr. Hansen Holding A/S, Divi's Laboratories Ltd., Foodchem International Corp., Kemin Industries Inc., Koninklijke DSM NV, Lycored Corp., and Marigan Holding BV among others.

What will the Beta-carotene Market Size be During the Forecast Period?

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Beta-carotene Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a NEUTRAL impact on the market growth during and post COVID-19 era. The health benefits of beta-carotene is notably driving the beta-carotene market growth, although factors such as negative effect on medications may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the beta-carotene industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Beta-carotene Market Driver

The Health benefits of beta-carotene is a key driving factor impacting the global beta-carotene market growth. Beta-carotene is a type of carotenoid compound commonly found in algae and plants. It is widely known for its health-beneficial factors. It is also called provitamin A because, after digestion, the body converts it into vitamin A. Vitamin A is one of the essential micronutrients required by the body for its proper functioning. The antioxidant properties of beta-carotene help in the prevention of chronic disease. Beta-carotene protects the body from harmful free radicals, which are the key reason for skin degeneration and aging. Consumption of beta-carotene-containing foods can lower the chances of inflammation and oxidative stress in the body. On that note, oxidative stress has been found to be responsible for the development of various diseases and conditions such as Parkinson's, cancer, atherosclerosis, myocardial infarction, heart failure, chronic fatigue syndrome, vitiligo, Alzheimer's, and depression. Some of the health benefits of beta-carotene are it improves respiratory health, it prevents skin irritation, redness, and UV-inducted erythema and it also supports healthy pregnancy and treats oral leucoplakia.

Key Beta-carotene Market Trend

The shift in demand from synthetic to natural beta-carotene key trending factor impacting the global beta-carotene market growth. Beta-carotene is naturally found in fruits and vegetables as bright-colored pigments. Commercially, it can be produced using natural and chemical sources. Organically, natural sources, such as beta-carotene-rich fruits and vegetables, are fermented to produce beta-carotene. Synthetic beta-carotene is produced by the chemical synthesis of benzene and methanol. Furthermore, benzene, an organic chemical compound used in the synthetic production of beta-carotene, is generally extracted from crude oil. It has no nutritional value and is also considered a carcinogen. However, naturally derived beta-carotene is therapeutically more effective and is easily absorbed by the body. The natural beta-carotene has higher antioxidant activity than its synthetic counterpart, which lacks antioxidant activity in humans and animals. Therefore, with the increasing preference of consumers toward natural food ingredients, there is a shift in the demand from synthetic beta-carotene to natural beta-carotene products.

Key Beta-carotene Market Challenge

The negative effects of medications will be a key challenge negatively impacting the global beta-carotene market growth. Beta-carotene largely affects various medications, and consumers must take precautions before taking certain drugs and beta-carotene supplements in combination. It is advisable that consumers taking antibiotics, orlistat or plant sterols, proton pump inhibitors, and cholesterol-lowering drugs must inform the doctor before consuming beta-carotene supplements. Furthermore, beta-carotene also interrelates with the niacin drug and produces several negative effects. Consuming beta-carotene in combination with niacin, selenium, vitamin C, and vitamin E can decrease the benefits of niacin. Niacin helps in increasing good cholesterol content. However, taking niacin with beta-carotene and other vitamin supplements might reduce the content of good cholesterol in the body. Unsolicited interactions of beta-carotene with several drugs and medications are likely to reduce the consumption of beta-carotene during the forecast period.

This beta-carotene market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global beta-carotene market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the beta-carotene market during the forecast period.

Who are the Major Beta-carotene Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Allied Biotech Corp.
• BASF SE
• BioExtract
• Chr. Hansen Holding A/S
• Divi's Laboratories Ltd.
• Foodchem International Corp.
• Kemin Industries Inc.
• Koninklijke DSM NV
• Lycored Corp.
• Marigan Holding BV

 

This statistical study of the beta-carotene market encompasses successful business strategies deployed by the key vendors. The beta-carotene market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Beta-carotene - The company offers a range of low-concentration beta carotene solutions, including both water- and oil-soluble formulations. It is available both in liquid and powder forms and is suitable for all pH conditions.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The beta-carotene market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Beta-carotene Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the beta-carotene market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global specialty chemicals market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Beta-carotene Market?

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33% of the market's growth will originate from APAC during the forecast period. China is the key market for the beta-carotene market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Due to the increased disposable income, consumers are inclining toward the consumption of more packaged and processed foods, which can directly drive the demand for beta-carotene which will facilitate the global beta-carotene market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in APAC is anticipated to affect the growth of the beta-carotene market in the region in the first half of 2020.The ongoing COVID-19 vaccination drives are expected to decrease the number of COVID-19 cases during the forecast period. The operations at manufacturing sites are expected to rebound during the forecast period, which is anticipated to propel the growth of the regional beta-carotene market during 2021-2025.

What are the Revenue-generating Application Segments in the Beta-carotene Market?

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The global beta-carotene market share growth in the food and beverages segment will be significant during the forecast period. Consumers' preference for natural ingredients that offer aesthetic appeal, as well as have health benefits, is the major driving factor for the growth of the global beta-carotene market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the beta-carotene market size and actionable market insights on post COVID-19 impact on each segment.

 

Beta-carotene Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 3.02%
Market growth 2021-2025	$ 80.18 million
Market structure	Fragmented
YoY growth (%)	2.64
Regional analysis	Europe, North America, APAC, MEA, and South America
Performing market contribution	APAC at 33%
Key consumer countries	Germany, US, China, France, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Allied Biotech Corp., BASF SE, BioExtract, Chr. Hansen Holding A/S, Divi's Laboratories Ltd., Foodchem International Corp., Kemin Industries Inc., Koninklijke DSM NV, Lycored Corp., and Marigan Holding BV
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Beta-carotene Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive beta-carotene market growth during the next five years
• Precise estimation of the beta-carotene market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the beta-carotene industry across Europe, North America, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of beta-carotene market vendors

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