Beta Carotene Market By Application (Pharmaceuticals, Dietary Supplements, Food & Beverage, Animal Feed, Others), By Source (Syntheric, Algae, Fungi, Palm Oil, Others), By Region - Global Industry Analysis, Size, Share, Growth, Trends And Forecasts (2016–2021)
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The Global Beta Carotene Market size was around USD 291 million in 2016. It is expected to grow at a CAGR of 3.9% to reach USD 352.35 million by 2021.
Carotenoids are colourful pigments that exhibit preventative properties against various dreadful diseases. A few carotenoids are converted by the body into Vitamin A.
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Some carotenoids exhibit antioxidant behaviour that protects the lining of arteries. They play a vital role in cancer prevention.
Carotenes offer protection from heart diseases. Beta-carotene is used to treat skin problems caused due to excessive exposure to the sun.
Beta-Carotene holds the maximum market share in carotenoids, due to its skin-protective properties.
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Beta carotene possess many features such as it lowers the risk of lung cancer, heart diseases, and skin problems. Moreover it also helps in controlling age related eye disorders and enables proper functioning of immune system.
Thus, awareness among the consumers for the benefits of beta carotene is fuelling its growth across the globe. Moreover increased usage of beta carotene in food and beverages industry to provide colour to their final product is also fuelling its growth during the forecast period.
However, excessive usage of these products for a long term has various side effects it can cause loss of stools, bruising, & joint pain, and turn skin orange or yellow. Through various researches, it has been found that taking high doses of these supplements for long term might cause a higher risk for certain cancer.
Consumption of these supplements by smokers increases the risk of colon, prostate and lung cancer among them.
The global Beta Carotene Market can be categorized into two categories: by source, and by application. On the basis of source the market is segmented into Algae, Fungi, Palm oil, Synthetic, and Others.
Algae derived beta-carotene accounted for over 35% of total revenue in 2016. The algae-based product is expected to witness steady growth trend over the forecast period owing to its various advantages over other sources.
If we go by application the market is segmented into Food & Beverage, Animal Feed, Dietary Supplements, Pharmaceuticals, and Others. Among all these segments food and beverages is expected to account for the major market share as compared to others in the near future.
By geography, the global Beta Carotene Market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Presently, North America closely followed by Europe accounts for the largest market and Asia-Pacific has the highest CAGR.
Major companies in the Beta Carotene Market are:
1) Chr. Hansen Holding A/S
2) Foodchem International Corporation
3) Flavorchem Corporation
5) D.D. Williamson & Co Inc
8) Zhejiang Medicine Co. Ltd
9) Sensient Cosmetic Technologies
10) Parry Nutraceuticals.
Scope of the Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms application and source along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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