Industry Outlook and Trend Analysis
The Beta-Carotene Market was worth USD 0.42 billion in 2014 and is expected to reach approximately USD 0.59 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.03% during the forecast period. The business is foreseen to witness a striking development throughout the following years. A huge increment in the beta-carotene usage in dietary supplements, personal care & cosmetics, animal feed, and personal care & cosmetics such is foreseen to positively affect the general development. The rising interest for common source carotene product is anticipated to enlarge the worldwide business development.
Source Outlook and Trend Analysis
Naturally, beta-carotene is extracted from green growth (Dunaliella salina), organic products and vegetable (pumpkin, carrot, sweet potato and others), palm oil, fungus, and fermentation of microorganisms. Green growth inferred beta-carotene represented more than 35% of aggregate income in 2015. The algae-based product is anticipated to witness relentless development incline over the figure time frame attributable to its different preferences over different sources. Manufactured sources represent a little offer in the worldwide business.
Application Outlook and Trend Analysis
Food & beverages were the most prevailing application and represented more than 30% of the aggregate worth in 2015. Beta-carotene is broadly used as a nourishment supplement and as a sustenance shading specialist in food production and beverage industry. The general sustenance and refreshments part is expected to demonstrate an amazing development all around finished the following couple of years. This ascent in nourishment and refreshments industry is anticipated to bring about the development of the business. Personal care & cosmetics is additionally expected to witness significant development throughout the following years.
Regional Outlook and Trend Analysis
Europe developed as the main shopper and represented more than 35% of worldwide request in 2015. The locale encounters the existence of an extensive number of makers and purchaser of the product with the most recent innovation. Europe is foreseen to witness a similar development slant in the coming years.
The leading players in the market are LycoRed Limited, BASF, Nutralliance, Foodchem International Corporation, DSM, Chr. Hansen, BioExtract, Zhejiang Medicine Co Ltd, DDW The Color House and Parry Nutraceuticals. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Beta-Carotene Market is segmented as follows-
Fruits & Vegetables
Food & Beverages
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?