The global beta-carotene market is expected to reach USD 621.0 million by 2024, according to a new report by Grand View Research, Inc. Rise in demand for the naturally-sourced products in food & beverages and dietary supplements industry is expected to remain a key driving factor for the global market.
The growing health concern across all age groups and the adverse effect of the use of synthetic products in end-use industries such as food & beverages and dietary supplements is driving the market for beta-carotene products.
Various companies have been shifting from synthetic to natural based beta-carotene products. Companies have been investing in new product innovation and are trying to develop beta carotene from genetically modified micro-organisms.
Beta-carotene is widely used as colorants, nutrition supplements and antioxidants in various industries. Food & beverages, dietary supplements, cosmetics and animal feed, are the major end-user industry for beta-carotene. Food & beverages was the leading application segment and contributed over 30% of total revenue in 2015.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/beta-carotene-market
Further key findings from the report suggest:
·
Beta-carotene can be derived from natural as
well as synthetic sources. Natural sources include algae fruits &
vegetable, fungus, palm oil, & more and synthetic source include
petrochemical products.
·
Algae was the leading source for beta-carotene
and accounted for 37.9% of total market revenue in 2015
·
Various benefits of natural sources over
synthetic source is anticipated to drive the market for natural based
beta-carotene
·
North America and Europe together accounted for
approximately 70% of the global consumption in 2015. North America and Europe
are mature markets with a presence of largely experienced companies operating
within them.
·
Asia Pacific is expected to mark the highest
growth of 4.6% over the forecast period. The region has been a remarkable
growth in the food & beverages and cosmetics industries particularly in
China and India. The growth of industries in Asia Pacific is believed to be the
major factor for the rise in demand for beta-carotene in the region
·
Key companies operating in the global market
include DSM N.V. & BASF SE., Chr. Hansen Holding A/S, Foodchem
International Corporation, Flavorchem Corporation, Lycored, D.D. Williamson
& Co., Inc., BioExtract, Nutralliance, Zhejiang Medicine Co., Ltd, Sensient
Cosmetic Technologies, and Parry Nutraceuticals.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
Grand View Research has segmented
the beta-carotene market on the basis of source, application, and region:
Global Beta-Carotene Source Outlook
(Revenue, USD Million, 2014 - 2024)
- Algae
- Fruits & Vegetables
- Synthetic
- Others
Global Beta-Carotene Application
Outlook (Revenue, USD Million, 2014 - 2024)
- Food & Beverages
- Dietary Supplements
- Cosmetics
- Animal Feed
Global Beta-Carotene Regional
Outlook (Revenue, USD Million, 2014 - 2024)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Middle East & Africa
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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