Beta-carotene Market Size, Share & Trends Analysis Report By Type (Natural, Synthetic), By End-use (Food & Beverages, Pharmaceutical, Dietary Supplements), By Region (North America, Asia Pacific), And Segment Forecasts, 2024 - 2030

Beta-carotene Market Size, Share & Trends Analysis Report By Type (Natural, Synthetic), By End-use (Food & Beverages, Pharmaceutical, Dietary Supplements), By Region (North America, Asia Pacific), And Segment Forecasts, 2024 - 2030

Beta-carotene Market Growth & Trends

The global beta-carotene market size is expected to reach USD 1073.3 million by 2030, registering a CAGR of 4.3% over the forecast period, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the increasing demand from the food & beverages and personal care & cosmetics, and animal feed industries. According to the University of Rochester, beta-carotene is a specific type of carotenoid that is classified as a provitamin A carotenoid. While there are many different types of carotenoids, beta-carotene stands out due to its unique characteristics and functions. It is a precursor to vitamin A within the body and can be enzymatically converted into retinol, an active form of vitamin A. Other carotenoids, such as lycopene, lutein, and zeaxanthin, do not have provitamin A activity.

Moreover, beta-carotene contributes to the characteristic yellow to orange color of various fruits and vegetables. It is responsible for the vibrant color of carrots, sweet potatoes, and pumpkins. Other carotenoids, such as lycopene (red pigment) and lutein (yellow pigment), have different colors and are found in various food sources. In addition, carotenoids, including beta-carotene, exhibit antioxidant properties. They help protect cells and tissues from damage caused by free radicals. The product has significant applications in the pharmaceutical industry. According to the U.S. Food & Drug Administration (FDA), it is an approved nutrient supplement and is added to infant formulas as a source of vitamin A. In the pharmaceutical industry, it is also used in formulations to enhance the antioxidant properties of certain medications.

Moreover, due to its lipophilic nature, it can be used as a carrier or excipient in drug delivery systems. The personal care & cosmetics is expected to witness considerable growth over the forecast period owing to its wide usage in the personal care and cosmetics industry, as it serves as an antioxidant, skin-conditioning agent, and moisturizer to protect dry skin. It helps protect the skin from radical damage. Cosmetic products containing beta-carotene are used in various forms like creams, lotions, and serums. They are marketed as anti-aging products and are believed to improve the skin's elasticity as well as reduce the appearance of fine lines and wrinkles. Moreover, its ability to absorb UV radiation makes it a valuable ingredient in sunscreens and other skin protection products.

Beta-carotene Market Report Highlights

• The global market is estimated to register a CAGR of 4.3% from 2024 to 2030 due to the increasing demand for natural ingredients-infused food & beverages, skin care products, cosmetics, dietary supplements, and animal feed worldwide
• The natural type segment dominated the market in 2023 with a revenue share of 31.4%. since it is often added to orange juice and other beverages to enhance the color and provide additional nutritional benefits. Consuming a diet that is rich in fruits and vegetables containing beta-carotene can be an excellent way to support optimal health and well-being
• The algae sub-segment dominated the market with a revenue share of 39% in 2023 since it is a natural and sustainable source of nutrients. Algae can be grown in large quantities using minimal resources and can even be cultivated in areas where other crops may struggle to grow. Moreover, algae-based beta-carotene often provides more consistent and higher-quality nutrients than other sources
• The food & beverage end-use segment dominated the market with a revenue share of 30.5% in 2023. This growth is due to the fact that the product is used as a source of vitamin A, which has led to its adoption in various products like breakfast cereals, nutritional drinks, and smoothies
• Europe was the leading region in 2023 and held a revenue share of 45.0% due to the growing personal care & cosmetics and food & beverage industry in the region. According to the L’Oréal 2022 Annual Report, Europe accounted for 29.9% of the total sales of cosmetic & personal care products with skincare & sun protection accounting for a maximum share of 40.1% followed by makeup (20.2%), haircare (15.0%), and hair coloring (8.8%). Thus, driving the product demand

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