Synthetic Beta-Carotene Market is Forecasted to Reach US$ 433.6 Million by 2034, States Fact.MR
Advancements in Production Technologies Leading to Development of Enhanced and Cost-Effective Synthetic Beta-Carotene
Rockville, March 27, 2024 (GLOBE NEWSWIRE) -- *Fact.MR*, a market research and competitive intelligence provider, estimates that the global *synthetic beta-carotene market* is valued at *US$ 256.3 million* for 2024 and will increase at a *CAGR of 5.4%* through 2034.
Synthetic beta-carotene sales are primarily driven by its increasing use across various industries. Synthetic beta-carotene, a chemically produced form of beta-carotene is finding extensive application in sectors such as food and beverages, cosmetics, pharmaceuticals, and dietary supplements. As a precursor to vitamin A and a potent antioxidant, synthetic beta-carotene plays a crucial role in coloration, nutritional enhancement, and health benefits in diverse consumer products.
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The beauty and skincare industry is witnessing an increasing adoption of synthetic beta-carotene due to its natural colorant properties and potential skincare benefits. Furthermore, the nutraceutical sector is set to experience a surge in synthetic beta-carotene utilization, with a focus on innovative formulations that cater to consumer preferences for functional and fortified foods.
Continuous growth of the global food and beverage industry is driving synthetic beta-carotene use as a food colorant and additive, contributing to the visual appeal and marketability of various products. Ongoing advancements in production technologies are enhancing the efficiency of synthetic beta-carotene manufacturing processes, leading to high production and cost-effectiveness.
*Key Segments of Synthetic Beta-Carotene** Market Research Report *
*By Form* *By End Use* *By Region*
· Powder
· Liquid
· Food & Beverages
· Dietary Supplements
· Animal Feed
· Cosmetics & Personal Care
· Others
· North America
· Latin America
· Europe
· East Asia
· South Asia & Oceania
· Middle East & Africa
*
Key Takeaways from Market Study*
· Global demand for synthetic beta-carotene is expected to reach a market value of *US$ 433.6 million* by 2034.
· The market in the United States is evaluated at *US$ 47.4 million* in 2024.
· Sales of synthetic beta-carotene in Japan are projected to rise at a CAGR of *6.6%* from 2024 to 2034.
· Stringent quality standards and changing dietary patterns in Germany driving sales of synthetic beta-carotene, especially in the food and cosmetics industries.
*“Synthetic beta-carotene is finding major applications in dietary supplements and skincare products, driving its demand growth worldwide,”* says a Fact.MR analyst.
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*Competitive Analysis*
Leading producers of synthetic beta-carotene, including Chr. Hansen Holding A/S, Phytone Limited, Cyanotech Corporation, BASF SE, Divis Laboratories Ltd., Davos Life Science, Kemin Industries Inc., Algatechnologies Ltd., Allied Biotech Corporation, Archer Daniels Midland Company, Sensient Technologies Corp., Döhler GmbH, Kingherbs Limited, Koninklijke DSM NV, Lycored Corp, are leveraging strategies such as global presence and extensive product portfolios to earn high profits.
Strategic collaborations and partnerships are further set to enhance their research capabilities, expand product offerings, and strengthen their market position. Continuous investments in research and development activities are also helping companies to stay ahead in innovation, introducing novel formulations and applications for synthetic beta-carotene.
*Recent News*
*In 2021, Divi's Nutraceuticals*, an Indian company, launched CaroNat, a naturally sourced beta-carotene aimed at adding vibrant dark yellow to orange shades to a wide array of food and beverage offerings.
*Report Attribute* *Details*
Value Projection (2034) US$ 433.6 Million
Growth Rate (2024-2034) 5.4% CAGR
No. of pages 170 Pages
No. of Tables 25 Tables
No. of Figures 132 Figures
*
More Valuable Insights* *on Offer*
Fact.MR, in its new offering, presents an unbiased analysis of the global synthetic beta-carotene market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on form (powder, liquid) and end use (food & beverages, dietary supplements, animal feed, cosmetics & personal care, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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