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The global beta carotene market size is anticipated to reach to USD 621.0 million by 2024. Increasing awareness regarding balanced diet and daily calorie monitoring are the key factors driving growth of the market.
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Your Catalyst to a Lucrative Business Beta Carotene Market Share,Size, Segmentation, Outlook and Forecasts to 2024 | HexaResearch “ The global beta carotene market size is anticipated to reach to USD621.0 million by2024.” 24 January2019 TheglobalbetacarotenemarketsizeisanticipatedtoreachtoUSD621.0millionby2024.Increasing awareness regarding balanced diet and daily calorie monitoring are the key factors driving growth ofthe market.Increasingapplicationofnaturallyderivedbetacaroteneisestimatedtofurtherfueldemandinthe forthcomingyears. Beta carotene is a colored pigment copiously available in fruits and plants. This antioxidant belongs to carotenoid family. Beta carotene can be derived from natural as well as synthetic sources. Natural sources include algae; fruits and vegetables like carrot, sweet potato, pumpkin, spinach, and plum; fungus; palm oil; yeast; bacteria; and fermentation of microorganisms. Benzene extracted from acetylene gas is one of the synthetic sources of thisantioxidant. Food and beverage, pharmaceutical and dietary supplements, personal care and cosmetics, and animal feed are the major end-use industries for global beta carotene market. In food and beverage, it is widely used as nutrition source and coloring agent. It is also utilized as antioxidant in dietary supplements and cosmetics industry. Beta carotene is extensively used as a nutritional supplement in animal feed. Value chain for beta carotene consists of raw material procurement, manufacturing process, distribution, and end - useindustry. FollowUs:
Your Catalyst to a Lucrative Business Food and beverage was the largest end-user application segment in 2017 and is expected to continue showcasing similar growth trend over the next eight years. The market for food and beverage was worth more than USD 100 million in 2015. It is anticipated to expand at a CAGR of over 4% during the forecast period. Increasing awareness regarding the importance of natural food coloring is resulting in growth of the market for betacarotene. Browse Details of Report @https://www.hexaresearch.com/research-report/beta-carotene-market Algae-based beta carotene was worth over USD 100 million in 2015 and is expected to exhibit a CAGR of 4.4% over the forecast period. Development of new and improved products such as Genetic Modification (GM) project and OxC-beta Livestock is projected to drive market expansion in near future. Demand in terms of consumption ofsynthetic beta carotene is decreasing owing to its various disadvantages including lack of nutritionalvalue. Europe held the largest market share ofaround 34% in 2015. Growing food and beverage, pharmaceutical, and personal care industries has resulted in expansion ofthe regional beta carotene market. Asia Pacific is expected to register the fastest CAGR of 4.6% in terms ofconsumption over the forecast period. Expansion of food and beverages, pharmaceutical, and animal feed among otherend- use industries in developing countries such as China and India is contributing to the rise inregional demand for betacarotene. Theglobalbetacarotenemarketishighlyfragmentedwiththepresenceofasmallernumberofmature playersandalargenumberofsmall-scaleregionalplayers.Thisfactormakesthismarkethighly competitive in nature. The industry requires high initial investment and R&D cost. Major market participants include DSM N.V., BASF SE, Chr. Hansen Holding A/S, Foodchem International Corporation, Flavorchem Corporation, and LycoRedLtd. Companies are investing in research and development activities for innovating new technologies and products. Mature players such as BASF and DSN N.V. are engaged in complete integration of processes. These companies are also adopting business strategies like joint ventures and merger and acquisitions to increase their product portfolio and expand their global market presence. They are working on deriving beta carotene from genetically modified microorganisms. Introduction of advanced technologies such as Golden Rice and OxC-beta Livestock are anticipated to boost growth opportunities for themarket. FollowUs:
Your Catalyst to a Lucrative Business • Hexa Research has segmented the Beta Carotene Market report based on source, application and region. • Segmentation bySource • Algae • Fruits &Vegetables • Synthetic • Others • Segmentation byApplication • Food &Beverages • DietarySupplements • Cosmetics • AnimalFeed • Segmentation byRegion • NorthAmerica • U.S. • Europe • Germany • France • U.K. • AsiaPacific • China • Japan • India • Central & SouthAmerica • Middle East &Africa • Key playersanalyzed: • DSMN.V • BASFSE • Chr. Hansen HoldingA/S • Foodchem InternationalCorporation • FlavorchemCorporation • Lycored • D.D. Williamson & Co.,Inc. • BioExtract • Nutralliance • Zhejiang Medicine Co.,Ltd • ParryNutraceuticals • Browse Related Category Market Reports @https://www.hexaresearch.com/research-category/food-and- beverages-industry FollowUs:
Your Catalyst to a Lucrative Business AboutUs: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growthinitiatives. ContactUs: Ryan Shaw HexaResearch Felton Office Plaza 6265 Highway9 Felton, California 95018 UnitedStates Phone:+1-800-489-3075 Email:sales@hexaresearch.com Website -https://www.hexaresearch.com FollowUs:
