Beta Carotene Market size to hit $955 Mn by 2032

Beta Carotene Market size is set to reach USD 955 million by 2032, according to a new research report by Global Market Insights Inc.
 

The increasing demand for beta carotene in animal feed and as a food ingredient, color additive, and nutrient supplement has enhanced the product penetration rate globally. Beta carotene contains a high amount of vitamin-A and essential pro-vitamins that aid in improving the fertility rate and immunity in dairy cattle, poultry, and other farm animals. The growth of the animal feed industry is likely to raise the demand for beta carotene. Beta carotene is an important animal feed additive as it optimizes fertility and the growth of livestock, such as swine, goat, sheep, bovine, and chicken, to produce meat.
 

Availability of large number of sources for obtaining beta carotene should create wide market opportunities for the product

The beta carotene market from algae source segment valued at USD 14.50 million revenue in 2022, owing to the rising demand for natural plant-based ingredients due to the growing trend of veganism. The product is used in dietary supplements as well as functional food & beverages. These numerous applications of algae-based beta-carotene are fueling the market demand.
 

Rising demand for high quality animal feed owing to increasing concern for animal health and nutrition should further stimulate market growth

Beta carotene market size from animal feed application segment is expected to exceed USD 260 million by 2032. Beta carotene is widely used in animal nutrition products as it is recognized as one of the major precursors of vitamin A. Also, the increasing emphasis on enhancing the nutritional value of animal feed will propel product usage. Beta carotene also helps in improving the reproductive performance in dairy heifers as well as lactating cows, along with protecting them against oxidative stress and stimulating the immune system. The fertility of cattle, swine, and horses can be improved by feeding of beta carotene. Thus, these numerous advantages of beta carotene allowed many players to invest & increase their product offerings in the animal feed industry.
 

Browse key industry insights spread across 310 pages with 313 market data tables and 51 figures & charts from the report, “Beta Carotene Market Size By Source (Fruits & Vegetables, Algae, Synthetic, Yeast, Fungi, Bacteria), By Application (Food & Beverages, Pharmaceuticals, Cosmetics, Animal Feed, Dietary Supplements), By Product (Synthetic Beta Carotene, Natural Beta Carotene), By Form (Powder, Liquid), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/beta-carotene-market
 

Increase in consumer preference for natural ingredients should drive the market for natural beta carotene

The natural product segment is poised to surpass USD 50 million by 2032. Natural beta carotene is mainly sourced from fruits, vegetables, fungi, and algae. It consists of different isomers, 9-cis and all-trans. It is enriched with pro-vitamin activity, which is needed in many end products to convert vitamin A in human body. The increased demand for naturally-sourced products is fueling the demand for natural beta carotenes. Consumers are more conscious about what they consume or use in their daily life, surging the demand for the natural beta carotene market. The risks associated with synthetic products including allergies and intolerance are creating lucrative growth opportunities for the market globally.
 

The easy usage of liquid form beta carotene should drive its market from various end use applications

Beta carotene market from liquid form segment is slated to cross USD 100 million by 2032, attributed to its ease of use and longer shelf life. As liquid solutions are easy to mix in water and food. Furthermore, the liquid form is easy to mix, due to which it has a wider acceptance in the food and beverages such as multivitamin juices, beverages for athletes, food supplements, and healthy foods.
 

Growing cosmetics market in Europe is likely to accelerate the market demand for beta carotene owing to its wide applications in cosmetics industry

Europe beta carotene market exceeded USD 230 Million revenue in 2022, ascribed to rising consumer awareness about beauty, increasing disposal incomes, and tourist inflow in the region which will accelerate cosmetics sales in the region.
 

Furthermore, the rising consumer purchasing power and the adoption of health & wellness trends are also driving the market revenue. The manufacturers operating in the market are investing in R&D to launch products that are rich in vitamin and nutrition. This has caught the attention of several international players, resulting in increased competition and product developments.