Beta-carotene market is estimated to reach USD 583 million by 2024:
The Global Beta-carotene market is majorly propelled by rising awareness towards the consumption of beta-carotene and inclination of industries towards natural beta-carotene across the globe according to research report Global Beta-carotene Market Outlook 2024.
Regionally, the beta-carotene market is segmented into North America, Europe, Asia-Pacific and Rest of World (ROW). Among these, North America is anticipated to witness a significant growth and occupy the largest share of beta-carotene market by 2024.
On account of increasing demand for beta-carotene from the food and beverage industry, the global beta-carotene market is estimated to reach USD 583 million (492 milliion) by the end of 2024 witnessing a compound annual growth rate of 3.1% over the forecast period.
Geographically, North America dominates the beta-carotene market followed by Europe. Increasing awareness associated with the consumption of beta-carotene is driving the North America market.
The essential role of beta-carotene and others as the main dietary source of vitamin A coupled with higher edge of natural beta-carotene over synthetic beta-carotene in terms of lip-solubility and antioxidant activity is propelling the growth of beta-carotene market all across the globe.
In human body, beta-carotene gets transformed to vitamin A nutrients which empower the immune system. Food and Beverage industries are now more inclined towards the use of natural beta-carotene in comparison to synthetic beta-carotene. This outsized shift of industry from synthetic to natural beta-carotene will intensify the market growth in upcoming 5-6 years.