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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the 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.

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Natural Beta Carotene Market

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