Market Overview:

Beta Carotene Market size was around USD 314.14 billion in 2018. It is expected to grow at a CAGR of 3.9% to reach USD 380.37 billion by 2023. Carotenoids are colorful pigments that have preventative properties against several horrible diseases. The body converts some carotenoids to vitamin A. Some carotenoids show an antioxidant behavior that protects the lining of the arteries. They play an essential role in the prevention of cancer. Carotenes protect against heart disease. Beta-carotene is used to treat skin problems caused by excessive exposure to the sun. Beta carotene has the highest market share of carotenoids due to its skin protection properties.

Market Drivers and Restraints:

Beta carotene possesses 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 the proper functioning of the immune system. Thus, awareness among the consumers for the benefits of beta carotene is fueling its growth across the globe. Moreover, increased usage of beta carotene in the food and beverages industry to provide color to their final product is also powering its growth during the forecast period.

However, excessive usage of these products for the 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 particular cancer. Consumption of these supplements by smokers increases the risk of colon, prostate, and lung cancer among them.

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Report segmented as

By Type:

Synthetic
Algae
Fungi
Palm Oil
By Application:

Pharmaceuticals
Dietary Supplements
Food & Beverage
Animal Feed
Geographical Analysis:

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.

Important Market Players:

Major companies in the Beta Carotene Market are 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.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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Market Data Forecast is a firm working in the areas of market research, business intelligence, and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

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