Beta-carotene Market Expected to Reach USD 531.2 Million by 2030

The global beta-carotene market is projected to grow at a CAGR of 4.5% and reach USD 531.2 million by 2030. The increasing demand from the food & beverages, personal care & cosmetics, and animal feed sectors is driving the industry’s growth. Beta-carotene, a provitamin A carotenoid, plays a significant role in this growth as it serves as a precursor to vitamin A. It imparts a vibrant yellow to orange color to various fruits and vegetables and exhibits antioxidant properties, making it valuable in the pharmaceutical and personal care industries.

Key Factors Driving the Beta-carotene Market:

• Growing Demand for Natural Ingredients: The market is witnessing an increasing demand for natural ingredient-infused products across various industries. The natural segment dominates the market, accounting for a 58.6% revenue share in 2022.
• Diverse Applications: Beta-carotene finds extensive applications in the food & beverages, pharmaceutical, dietary supplements, personal care & cosmetics, and animal feed industries.
• Antioxidant Properties: Beta-carotene and carotenoids exhibit antioxidant properties, protecting cells and tissues against free radical damage.
• UV Protection and Skin Health: Beta-carotene serves as a valuable sunscreen and skin protection ingredient, helping to shield the skin from UV radiation and enhance skin elasticity.

Market Segment Insights:

• Natural Dominates: The natural segment accounted for a 58.6% revenue share in 2022. It is commonly added to beverages for color enhancement and added nutrition.
• Algae Sub-Segment: Within the natural segment, algae holds a dominant position with a 33.9% revenue share in 2022 due to its sustainability and high-quality nutrient content.
• Food & Beverage Leading End-Use: The food & beverage industry leads the market with a 30.1% revenue share in 2022. Beta-carotene is widely adopted in breakfast cereals, nutritional drinks, and smoothies.
• Europe Leads Geographically: Europe holds the leading position in the market with a 35.7% revenue share in 2022. The region’s substantial cosmetic & personal care product sales and industry growth contribute to its dominance.
• Key Market Participants: Some of the key companies operating in the beta-carotene market include AVANSCHEM, BASF SE, Central Drug House, DDW The Color House, DSM, E.I.D. -Parry (India) Limited, Foodchem International Corporation, Lycored, and more.

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