Beta-Carotene Market Size, Share, Growth Analysis, By Type(Synthetic Beta-Carotene and Natural Beta-Carotene.), By Application(Food & Beverages, Dietary Supplements) - Industry Forecast 2024-2031

Beta-Carotene Market size was valued at USD 6.2 billion in 2021 and is poised to grow from USD 6.49 billion in 2022 to USD 9.4 billion by 2030, growing at a CAGR of 4.73% in the forecast period (2023-2030).

The Beta-Carotene Market is characterised by a competitive landscape with several key players vying for Market share. Beta-carotene is a naturally occurring pigment found in various fruits, vegetables, and plants, and is widely used as a food colouring agent, nutritional supplement, and ingredient in cosmetic products. The Market is driven by the increasing consumer demand for natural and healthy food products. Beta-carotene is recognized for its antioxidant properties and its role as a precursor of vitamin A, which contributes to its popularity as a dietary supplement. The growing awareness among consumers regarding the health benefits of beta-carotene has spurred its demand in the Market. 'DSM Nutritional Products Ltd. (Netherlands)', 'BASF SE (Germany)', 'Chr. Hansen Holding A/S (Denmark)', 'FMC Corporation (US)', 'Lycored Ltd. (Israel)', 'Kemin Industries, Inc. (US)', 'Zhejiang Medicine Co., Ltd. (China)', 'Divi's Laboratories Ltd. (India)', 'Allied Biotech Corporation (Taiwan)', 'DDW The Colour House (US)', 'Nutralliance (US)', 'BTSA Biotecnologías Aplicadas S.L. (Spain)', 'Guangzhou Leader Bio-Technology Co., Ltd. (China)', 'ZMC LLC (US)', 'Tianjin Glucose Co., Ltd. (China)', 'Novus International, Inc. (US)', 'Guangzhou Wisdom Bio-Technology Co., Ltd. (China)', 'Phytone Limited (UK)', 'Parchem Fine & Specialty Chemicals (US)', 'Vitae Naturals S.L. (Spain)'

The Market for beta-carotene is being driven by the growing awareness among consumers regarding its health benefits. Beta-carotene, known for its powerful antioxidant properties and its role as a precursor of vitamin A, is recognized as crucial for vision, immune function, and overall health. As individuals place greater emphasis on preventive healthcare and show a rising demand for natural and nutritional supplements, the Market for beta-carotene experiences growth.

Consumer preference for natural and plant-based ingredients: A key Market trend in the Beta-Carotene Market is the increasing consumer preference for natural and plant-based ingredients in various industries. Beta-carotene, a pigment found in many fruits and vegetables, is a popular choice due to its natural origin and numerous health benefits. Consumers are becoming more conscious about the ingredients used in their food, beverages, and personal care products, driving the demand for natural alternatives. Beta-carotene, with its antioxidant properties and provitamin A activity, is highly sought after as a natural colourant and nutritional supplement. The trend towards clean label products and the growing interest in health and wellness are propelling the demand for beta-carotene across the globe. To cater to this trend, manufacturers are focusing on sourcing high-quality beta-carotene from natural sources, such as algae, fruits, and vegetables, and offering a wide range of application-specific beta-carotene products to meet the diverse needs of industries such as food and beverage, cosmetics, and pharmaceuticals.

In terms of dominance, Asia-Pacific emerges as the most dominant region in the beta-carotene Market. The region has a significant Market share due to factors such as a large population, changing dietary patterns, and increasing consumer awareness regarding health and wellness. Countries like China and India have witnessed a considerable rise in demand for dietary supplements and functional food and beverages containing beta-carotene. The growing middle-class population and rising disposable incomes in the region have contributed to the dominance of Asia-Pacific in the beta-carotene Market.