The beta carotene market size is projected to reach US$ 580 million by 2031 from US$ 380 million in 2023. The market is expected to register a CAGR of 5.3% during 2023–2031. Increasing consumption of dietary supplements is likely to remain a key trend in the market.

Beta Carotene Market Analysis

Increasing demand for natural colors in various end-use industries and rising awareness regarding the benefits of beta carotene contribute to market growth. In addition, key players' strategic initiatives such as mergers and acquasitions, collaborations, product launch, and partnerships further contribute to the market growth. Further, exponential growth in the skincare industry has surged the demand for skin care products, propelling the market growth.

Beta Carotene Market Overview

Beta carotene is a natural pigment and antioxidant found in fruits and vegetables and offers a wide range of benefits. Beta carotene is commonly found in fruits and vegetables, imparting a yellow or orange color. It is valued for its role in supporting vision, skin health, and immune functions. In recent years, the demand for beta carotene has surged owing to increasing awareness regarding its benefits. Beta carotene, once consumed, helps to convert vitamin A, supporting vision, especially in low-light conditions, and promoting overall eye health. Further, the anti-cancer and anti-aging properties of beta carotene are anticipated to boost its demand in various end-use industries, including pharmaceuticals and nutraceuticals, food and beverages, personal care, and others.

Strategic Insights

Beta Carotene Market Drivers and Opportunities

Increasing Awareness Regarding Beta Carotene benefits to Favor Market

In recent years, the demand for beta carotene has surged owing to increasing awareness regarding its benefits. Beta carotene, once consumed, helps to convert vitamin A, supporting vision, especially in low-light conditions, and promoting overall eye health. Its antioxidant properties help combat free radicals, potentially reducing the risk of chronic diseases and supporting cellular health. Additionally, beta carotene plays a role in bolstering the immune system, protecting against infection, and contributing to skin health by shielding against sun damage.

Increasing Demand for Natural Colours in the Food Industry

The demand for natural colors in the food and beverages industry has propelled the demand for natural beta carotene. Rising awareness regarding the health benefits of natural and clean-label products has surged among consumers. They are concerned about the long-term effects of synthetic colors on health and so prefer natural colorants in their food. Beta carotene is largely used as a colorant for food and beverage applications.

Beta Carotene Market Report Segmentation Analysis

Key segments that contributed to the derivation of the beta carotene market analysis are nature and end user.

• Based on nature, the beta carotene market is divided into natural and syntehtic.
• In terms of end use, the market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others.

Beta Carotene Market Share Analysis by Geography

The geographic scope of the beta carotene market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the market. In North America, several factors contribute to the demand for beta carotene. Firstly, the increasing awareness and emphasis on health and wellness among consumers have led to a growing interest in nutritional supplements and fortified foods. Secondly, the prevalence of lifestyle-related health concerns, such as skin protection and cardiovascular health, has spurred interest in antioxidants like beta-carotene. Consumers are seeking products that offer multifaceted health benefits, contributing to the demand for supplements and foods containing beta-carotene. Thus, these factors are expected to propel the growth of the market in the region.

Beta Carotene Market Report Scope

Beta Carotene Market News and Recent Developments

The beta carotene market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the beta carotene market are listed below:

• Bitmis Corp announced the completion of a merger with Cambell International Holdings Limited. The acquisition was aimed to focus on research and development of the extraction process of natural beta-carotene as well as the production, distribution, marketing, and sales of beta-carotene health food products. (Source: Press Release, December 2022)

Beta Carotene Market Report Coverage and Deliverables

The "Beta Carotene Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Beta Carotene market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Beta Carotene market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Beta Carotene market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the beta carotene market
• Detailed company profiles

REGIONAL FRAMEWORK

Beta Carotene Market Report Analysis

MARKET PLAYERS

Beta Carotene Market Report Scope

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