According to a new market report published by Lucintel, the future of the beta-carotene market looks promising with opportunities in the food & beverage, animal feed, dietary supplement, pharmaceutical, and cosmetic application segments. The global beta-carotene market is expected to grow with a CAGR of 3%-4% from 2020 to 2025. The major drivers for this market are increasing demand for naturally derived products in the food & beverage and dietary supplement industries and growing health concerns.
In this market, algae, fungi, palm oil, and synthetic are the major sources of beta-carotene. Lucintel forecasts that algae derived beta-carotene will remain the largest source segment over the forecast period.
Within this market, food and beverage will remain the largest application segment over the forecast period due to its wide usage as a nutrition supplement and as food coloring agent in the food production and beverage industries.
Europe will remain the largest region over the forecast period due to the existence of a large number of manufacturers and consumers and increasing consumer awareness on health benefits of beta carotene
Royal DSM, Sensient Technologies, Chr. Hansen, Foodchem International, Flavorchem, Lycored, D.D. Williamson, BioExtract, Nutralliance, Zhejiang Medicine, and BASF are among the major suppliers in the global beta-carotene market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global beta-carotene market by source, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Beta-Carotene Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global beta-carotene market by source, application, and region as follows:
By Source [Value ($ Million) shipment analysis for 2014 – 2025]:
Algae
Fungi
Palm Oil
Synthetic
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food & Beverages
Animal Feed
Dietary Supplements
Pharmaceuticals
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Norway
Spain
Germany
France
China
India
Vietnam
Indonesia
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.