Press release
Beta Carotene Market Set to Surpass USD 1 Billion by 2032: A Global Overview
Beta Carotene Market
The global Beta Carotene Market is experiencing significant expansion, driven by increasing consumer demand for natural ingredients in food, beverages, cosmetics, and pharmaceuticals. Valued at USD 755.68 million in 2024, the market is projected to reach USD 1.05 billion by 2032, growing at a CAGR of 4.2% from 2025 to 2032 .
This growth is fueled by the rising awareness of beta carotene's health benefits, including its antioxidant properties and role in eye health. The market's expansion is further supported by technological advancements and strategic initiatives by key industry players.
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Competitive Landscape
The beta carotene market is characterized by intense competition among key players striving for innovation and market expansion. Leading companies such as DSM, BASF SE, Lycored Ltd., Sensient Technologies Corp., and Divi's Nutraceuticals are at the forefront, focusing on product development and strategic partnerships to strengthen their market positions .
For instance, in March 2023, BASF announced the expansion of its beta carotene production capacity in Asia, responding to the growing demand in the region, particularly in China and India . Similarly, in April 2023, Kemin launched a new line of beta-carotene-based dietary supplements aimed at improving vision, immunity, and skin health .
Regional Insights
United States: Growth and Consolidation
In North America, the United States is witnessing significant growth in the beta carotene market, driven by increasing consumer awareness of health benefits and a preference for natural coloring agents in the food industry. The trend toward clean labels and natural ingredients has led to increased product demand. Moreover, strategic partnerships and product innovations are contributing to market consolidation.
Asia Pacific: Opportunities and Trends
The Asia Pacific region is projected to witness the fastest growth rate in both volume and revenue. In this region, Japan accounted for the largest share, but growth is projected to be highest from India and China . The expansion of production capacities by key players like BASF and the launch of new products by companies such as Kemin are indicative of the region's dynamic market trends.
Middle East and Africa: Growth and Updation
The Middle East and Africa (MEA) beta carotene market generated a revenue of USD 22.0 million in 2022 and is expected to grow at a CAGR of 4.2% from 2023 to 2030, reaching USD 30.6 million by 2030 . The growth is attributed to the presence of several cosmetic and personal care manufacturers, along with food and beverage companies driving the demand for beta carotene in the manufacture of various products. Additionally, the growing pharmaceutical industry in the region is anticipated to aid the increasing demand for beta carotene as a source of vitamin A in dietary supplements.
Europe: Trends and Consolidation
Europe dominated the beta carotene market in 2023, attributed to several key factors. The region has a strong agricultural sector with a diverse range of fruits and vegetables rich in beta carotene, facilitating efficient production processes. European consumers exhibit a strong preference for natural and healthy ingredients, aligning well with the natural beta carotene segment's offerings. This demand is further bolstered by stringent regulations promoting the use of natural additives and colorants in food and beverage products. Investments in research and development enable European companies to innovate and diversify their product portfolios, catering to evolving consumer preferences.
Recent Developments
DSM announced the launch of a new, more stable form of beta carotene in February 2023, enhancing its suitability for a wider range of products .
Givaudan acquired Amyris Inc.'s major cosmetic ingredient portfolio in April 2023, aiming to strengthen its position in the cosmetic and personal care segment by providing natural and chemical-free products infused with beta carotene .
Nutralliance entered a strategic partnership with Globionic in October 2020 to market and distribute its products in Eastern Europe, aiming to boost sales of beta-carotene products in European countries .
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Unlocking Growth: Exploring the Dynamic Segmentation of the Beta Carotene Market:
by Type
Natural
Algae
Fruits & Vegetables
Yeast
Others
Synthetic
by End Use
Food & Beverages
Dietary Supplements
Personal Care & Cosmetics
Pharmaceutical
Animal Feed
Other
According to Type, In 2024, the worldwide beta-carotene market's type segment was dominated by the natural segment. Natural beta-carotene, which is derived from fruits, vegetables, and other plant sources, appeals to customers that value health and are looking for clean-label products. This desire is in line with growing knowledge of the advantages of natural components for health, including their antioxidant qualities and capacity to promote general wellbeing.
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Industry Leaders in Focus:
North America
1. FMC Corporation (USA)
2. Sensient Technologies Corporation (USA)
3. Kemin Industries, Inc. (USA)
4. Cyanotech Corporation, (USA)
5. Nutralliance (USA)
6. DDW The Color House (USA)
7. ZMC LLC (USA)
Europe
1. Döhler Group (Germany)
2. Chr. Hansen Holding A/S(Denmark)
3. BASF SE (Germany)
4. DSM Nutritional (Netherlands)
5. Naturex S.A. (Givaudan) (France)
6. Dynadis SARL (France)
Asia Pacific
1. Lycored (Israel)
2. Allied Biotech Corporation (Taiwan)
3. Zhejiang NHU Co., Ltd. (China)
4. Algatechnologies Ltd. (Israel)
5. Tianjin Norland Biotech Co., Ltd. (China)
6. Divis Laboratories Ltd (India)
7. Vinayak Ingredients (India) Pvt. Ltd. (India)
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Your Ultimate Guide: Key Questions Answered in the Latest Market Report:
What is Beta Carotene?
What is the Beta Carotene Market's forecast period?
How is the Beta Carotene market's competitive situation?
What are the main forces behind the Beta Carotene market's expansion?
What is the largest market share in the Beta Carotene region?
In the Beta Carotene market, which segment became the dominant one?
During the forecast period, which major trends are most likely to emerge in the Beta Carotene market?
What prospects does the Beta Carotene Market have?
Which companies dominate the Beta Carotene market?
Which are the Beta Carotene industry players' primary growth strategies?
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