A key factor driving the market’s growth is the health benefits of beta-carotene. Beta-carotene is a type of carotenoid compound usually found in algae and plants. It is widely known for its health beneficial factors. It is also called as provitamin A because the body converts it into vitamin A after digestion. Vitamin A is one of the essential micronutrients required by the body for its normal functioning.
This market research report on the global beta-carotene market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the shift in demand from synthetic to natural beta-carotene as one of the key emerging trends in the global beta-carotene market:
Global beta-carotene market: Shift in demand from synthetic to natural beta-carotene
Beta-carotene is naturally found in fruits and vegetables as bright colored pigments. Commercially, it can be produced using natural and chemical sources. Organically, natural sources such as beta-carotene rich fruits and vegetables are fermented to produce beta-carotene. Synthetic beta-carotene is produced by the chemical synthesis of benzene and methanol. However, naturally derived beta-carotene is therapeutically more effective and is easily absorbed by the body.
“The natural beta-carotene has higher antioxidant activity than its synthetic counterpart, which lacks antioxidant activity in humans and animals. Thus, with the increasing preference of consumers toward natural food ingredients, there is a shift in the demand from synthetic beta-carotene to natural beta-carotene products,” says a senior analyst at Technavio for research on specialty chemicals.
Global beta-carotene market: Segmentation analysis
This market research report segments the global beta-carotene market into the following applications (food and beverages, dietary supplements, cosmetics, and animal feed) and key regions (the Americas, APAC, and EMEA).
The food and beverages segment held the largest market share in 2017, accounting for nearly 36% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA held the highest share of the global beta-carotene market in 2017, accounting for a market share of approximately 40%. This region is anticipated to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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