Market Outlook

Natural beta carotene is a reddish-orange colored pigment, which naturally occurs in colored fruits and vegetables. It is most abundantly found in carrots, pumpkins, winter squash, etc. However, for commercial purpose, natural beta carotene is voluminously sourced from the algae dunelialla salina. This alga contains carotenoids such as natural beta carotene which is pink in color and serves its application as a colorant in the food industry. Natural beta carotene is a key ingredient in a human diet, given its ability to metabolize vitamin A. Natural beta carotene is regarded as a highly meritorious due to its multi-faceted benefits such as the presence of antioxidants, the ‘free-from’ and natural tag and sustainable procurement. These benefits of natural beta carotene are supported by a huge demand for fortified products.

Demand For Functional Food Ingredients Drive the Growth of the Natural Beta Carotene Market

Consumers shifting away from the traditional diet pills and supplements is a significant factor driving the growth of the natural beta carotene market. Women, who are increasingly focusing on adopting a healthy and natural diet for the skin rejuvenation, are the foremost target consumers in the natural beta carotene market. The increasing health consciousness amongst consumers also provides a firm platform for the natural beta carotene market to grow. Natural beta carotene is widely used in dietary supplements and consumer tilt towards fitness regimes also allows market growth for natural beta carotene. Currently, the processed food segment occupies a lesser share in the natural beta carotene’s end-use industry as compared to the fortified beverage industry. Beverages are the easiest modicum for the consumption of natural beta carotene. The APAC is the potential market for the growth of the natural beta carotene. As Australia is a geologically important region for the natural beta carotene market, neighboring regions have become automatically become target markets. Lower freight costs and storage costs have opened avenues for the natural beta carotene market in Australia’s neighboring regions. South Korea makes up nearly 50% of the natural beta carotene demand produced in Australia. Other countries such as Malaysia, Indonesia, and Japan have also exhibited rapid progress in the carotenoids industry, which is likely to boost the natural beta carotene market growth. India and China have demonstrated immense market potential in fortified beverages market which concurrently aids the natural beta carotene market to grow.

Global Natural Beta Carotene: Market Segmentation

The natural beta carotene market is segmented on the basis of form, grade, and end use industry.

On the basis of form, the natural beta carotene market is segmented into-

  • Oil
  • Powder

On the basis of grade, the natural beta carotene market is segmented into-

  • 30%
  • 10%
  • 5%
  • Less than 1%

On the basis of end use industry, the natural beta carotene market is segmented into-

  • Food & Beverage Industry
    • Processed Dairy Products
      • Butter
      • Processed Cheese
      • Cream Fillings & Toppings
      • Ice Cream
    • Instant Mixes
    • Fruit Processing
    • Beverages
  • Pharmaceuticals
  • Dietary Supplements
  • Cosmetics

The growing demand for natural beta carotene in the fortified food industry is mainly nourished by the research divisions of the natural beta carotene manufacturers. Some of the global key market participants operating in the natural beta carotene supply chain are Kanegrade Ltd., The Pioneer Enterprise, Vinayak Ingredients India Pvt Ltd., Koninklijke DSM N.V., The Bangalore Sales Corporation, Index Pharma LLP, ColorMaker, DDW, The Colour House and BASF SE

Opportunities for Natural Beta Carotene Key Market Participants

Algal protein is a prominent category which is forecasted to grow at a fast pace in the developed regions. Hence, similar ingredients such as natural beta carotene have abundant opportunities. This prospect can be met by Oceania’s expanding its export base for natural beta carotene in the developed regions. Due to a surge in the demand for natural beta carotene, expansion of production capacities of natural beta carotene is also a sustainable option to tap into the market potential.

The natural beta carotene market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the Natural Beta Carotene market, including but not limited to: regional markets, packaging, and distribution channel.

The study is a source of reliable data on:

  • Natural beta carotene market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa) 

The natural beta carotene market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the natural beta carotene market report projects the attractiveness of each major segment over the forecast period. 

Highlights of the Natural Beta Carotene market report: 

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the natural beta carotene market
  • Recommendations to companies for strengthening their foothold in the natural beta carotene market    

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.