Global Beta Carotene Market Share, Demand And Growth Analysis, Forecast 2017 To 2022 – by Credence Research
In terms of revenue in 2014 the global market for beta carotene Market was
calculated to be USD 436.67 million and is projected to reach USD 572.78
million by 2022, growing at a CAGR of 3.5% from 2015 to 2022. In 2014, in terms
of volume the market demand market was 343.72 tons and is projected to reach
423.65 tons by 2022 at a CAGR of 2.7% for the same forecast period.
Browse full report (Global Beta
Carotene Market - Growth, Share, Opportunities & Competitive Analysis, 2015
-2022)@ http://www.credenceresearch.com/report/beta-carotene-market
The global market for beta carotene
is witnessing growth on the back of rising health concerns and increased
importance of intake of beta carotene. Moreover, shift in trends towards
natural ingredients is another factor driving towards the market growth. But,
due to excessive intake of beta carotene can cause various effects on the human
body therefore it is recommend to consumed in prescribed quantities only.
However, rising demand from emerging economies and increasing demand of algae
based carotene in functional and heath food provide huge market opportunities.
By product type, in 2014, synthetic
beta carotene accounted for more than 70% of the market share in terms of
volume as well as revenue. But growth is projected to highest from the natural
segment which is projected to grow at a rate of 4.6% in terms of revenue during
the forecast period from 2015 to 2022.
By applications type, food and
beverages segment accounted for 40% share of the pie in terms of volume and
revenue in 2014 and is projected to maintain their dominance during the
forecast period. Growth is projected to be highest from the supplements segment
which is projected to grow at a CAGR of 3.1% in terms of volume from 2015 to
2022 owing to rising health concerns, increasing awareness about the benefits
of beta carotene and busy life style. Cosmetics segment is another major
application which will witness potential growth during the forecast period.
In 2014, by region, Europe and North
America together accounted for more than 70% share of the pie in terms of
volume and revenue. Europe is projected to grow at a rate of 3.1% in terms of
volume from 2015 to 2022. The U.S. is the largest market globally for beta
carotene and is projected to grow at a rate of 3.5% in terms of revenue. Asia
Pacific region is projected to witness fastest growth rate in both, volume and
revenue. The Asia Pacific market in terms of revenue is projected to grow at a
CAGR of 3.7% from 2015 to 2022. In, Asia Pacific, Japan accounted for the
largest share but growth is projected to highest from India and China.
RoW is also projected to witness moderate growth rate. Economies such as
Brazil, Turkey, Saudi Arabia offers huge untapped market opportunities.
The market for beta carotene is
highly competitive, two major players BASF and DSM accounts for 55% share of
the market. These European players are facing stiff competition from the Indian
and Chinese players. More than 20% share of the pie is accounted by Chinese and
Indian Players. There are many other larger, medium, and small manufacturers
and private label players present in the market but only accounts for major
market share. Some of the other players in this market are Allied Biotech Corp.
Ltd, Naturex SA, Chr. Hansen, and Zhejiang NHU Co.,Ltd among others.
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Global Beta Carotene Market Share, Demand And Growth Analysis, Forecast 2017 To 2022 – by Credence Research
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