Beta Carotene Market Value Worth $780 Million by 2027, Says Global Market Insights Inc.

Beta Carotene industry is set to register over a 6% CAGR between 2021 and 2027, propelled by the increasing inclusion of beta carotene in the food & beverage processing industry.

The beta carotene market revenue is expected to surpass USD 780 million by 2027, according to a new research report by Global Market Insights Inc. Growing demand for nutritious products and health benefits associated with beta carotene is projected to fuel the market demand across the globe.

The beta carotene industry for pharmaceutical application is anticipated to register over a 6.5% CAGR through 2027, owing to a rapidly booming pharmaceutical sector and the prevalence of several diseases like cancer, cardiovascular and others. Increasing individuals’ spending on healthcare and an increasingly aging population are among the key factors driving the market growth. Also, high product development rates of the product due to the virtue of heavy R&D spending will fuel market expansion over the projected timeline.

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Some major findings of the beta carotene market report include:

  • The beta carotene industry for food & beverage application exceeded USD 225 million in 2020. Increasing demand for flavoring additives, coupled with several vitamins and minerals in end products, are fuelling the market growth for food & beverage application.
  • The global market for the liquid form is projected to register over a 6% CAGR between 2021 and 2027 owing to its easy to use and easy mix solution in water or other.
  • The global market for cosmetic application is expected to surpass USD 25 million by 2027 driven by increasing individual spending on personal care products.
  • Some of the key players operating in the market are DD Williamson & Co., Divis Laboratories, Sensient Cosmetic Technologies, Foodchem International, Bioextract, INC, Lycored, Zhejiang Medicine Co., Ltd., Nutralliance, Parry Nutraceuticals, Allied Biotech Corp. Ltd, Zmc-UsaLlc, Dynadis SARL, BASF.

Browse key industry insights spread across 310 pages with 319 market data tables and 38 figures & charts from the report, “Beta Carotene Market Forecasts By Source (Fruits & Vegetables, Algae, Synthetic, Yeast, Fungi, Bacteria), Application (Food & Beverages, Pharmaceuticals, Cosmetics, Animal Feed, Dietary Supplements), Product (Synthetic Beta Carotene, Natural Beta Carotene), Form (Powder, Liquid), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:

The rapid increase in gastrointestinal diseases including constipation, diabetes, high blood pressure, cholesterol, obesity, and diverticular disease will supplement the growing demand for pharmaceutical products, propelling the overall beta carotene market share. Beta carotene ingredients are formulated in pharmaceutical drugs for superior performance in directly compressed tablets, soft gel capsules, and two-piece hard-shell capsules. Ease-of-use, minimum color intensity, and superior color stability are among the key reasons for fuelling beta carotene demand in the pharmaceutical industry.

Europe’s beta carotene market is expected to witness considerable growth of over 5.5% between 2021 and 2027, supported by rising awareness of beauty among the population. Cosmetology applications get a leap of faith in the beta carotene industry due to the virtue of the excellent antioxidant properties, which promote healthy skin and improve aging skin. Rising purchasing power and consumer adoption of health and wellness trends are also driving the industry outlook.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Source: Global Market Insights Inc.