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Beta Carotene Market Share

Report ID: GMI204
Published Date: Mar 2023
Report Format: PDF

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Beta Carotene Market Share

Prominent participants operating across the beta carotene market include

v BASF SE
DSM N.V
Chr Hansen Holding A/S
Bioextract
Foodchem International Corporation
DD Williamson & Co., Inc (DDW)
Sensient Cosmetic Technologies

Companies are engaged in numerous market strategies such as merger, expanding production capacity, and acquisitions for business growth.

Lycored, in 2019 partnered with Alga technologies which is an Israel-based biotechnology company. The partnership was aimed at developing and launching new natural colorants derived from microalgae. This collaboration focused on leveraging the strengths of both companies in order to create innovative solutions for food, beverage, and dietary supplement industries.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of beta carotene exceeded USD 575 million in 2022 and is estimated to witness over 5% CAGR between 2023 and 2032 backed by the booming pharmaceutical industry, the surging demand for dietary supplements and nutrition among the geriatric population, and increased healthcare expenditure.

The fruits and vegetables sources segment surpassed USD 10 million in 2022, on account of increasing health concerns due to the usage of synthetic or artificial ingredients, along with the soaring consumer preference for natural, herbal & organic beauty products.

The powder beta carotene segment is expected to cross USD 850 million by 2032, driven by its prominent attributes, such as easier transportation & storage and longer shelf-life as compared to the liquid form.

The market for beta carotene in North America dominated over USD 175 million in 2022, owing to increasing consumer demand for clean-label products and green ingredients in infant foods, cosmetics, and food & beverage products.