Beta Carotene Market Share Analysis with Demand Status 2021 | Latest Technological Advancement, Industry Trends, Competitive Landscape, Explosive Factors of Revenue by Key Vendors Size Forecast Analysis 2030

In a recent published report, Kenneth Research has updated the market report for Beta Carotene Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Beta Carotene Market products.

The global beta carotene market is anticipated to reach USD 618.94 million by 2026 and is anticipated to grow at a CAGR of 3.8 % from 2018 to 2026. Beta carotene market is expected to witness significant growth over the forecast period. Beta Carotene is widely used as antioxidants in cosmetics & personal care industry. In the cosmetics and personal care product manufacturing sector, it is used in development of novel formulations for aftershave lotions, cleansing products, bath products, suntan products, shampoo, makeup, skin care products, shampoos and hair conditioners.

Huge initial investment in technology innovation and R&D is expected to pose high entry barriers for new entrants in the market. New technology & product innovations such as OxC-beta livestock and Golden rice especially in developing and emerging countries are anticipated to support new players in the market. However, high initial investment cost will pose high entry barriers resulting in low threats to entry barriers.

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A large number of beta-carotene raw material suppliers are spread evenly around the world, especially in North America and Europe. Less threat of backward integration results in the high bargaining power of the suppliers. A limited number of large & international players such as BASF and DSM, are present in the market, which follows a backward integration process.The beta-carotene industry is fragmented market space. The industry has few international players currently operating and a large number of small-scale regional players. Leading regional and multinational companies are trying to increase their market share by investing in R&D activities and innovating new technologies. Many international companies are trying to merge or acquire the regional players to increase their market share, product portfolio, and regional presence. Industry rivalry is expected to be high over the forecast period.

The intra-industry threat is anticipated to be a major threat for beta-carotene market. Other carotenoids may impose a significant threat to the market. However, advantages of beta-carotene over these substitutes are expected to lower the threat of substitutes in future. The penetration of beta-carotene in the end-use industries is much higher than other carotenoids products.Globally, the companies are focusing on developing new technologies to achieve product differentiation. The multinationals and leading regional players, are investing in research & development activities and trying to develop new and better product for the end-user industries. The companies are working to derive beta-carotene from genetically modified microorganisms. Golden rice and OxC-beta Livestock are believed to be the latest technology, which can drive the market.

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Increasing demand of beta-carotene in end use industries, such as food & beverages, cosmetics, dietary supplements and animal feed is resulting in new product and technology development. In food and beverages, it is commonly used as coloring additives.Major end-use industries for beta-carotene market are food & beverages, pharmaceutical & dietary supplements, personal care & cosmetics, and animal feed. Food & beverages applications was the largest end user application for beta-carotene market. Companies globally are investing in research and development activities for innovating new technologies and products. Multinational players including DSN N.V. and BASF are present in complete integration process of the product. These companies are also following JV’s and merger & acquisitions strategies to increase their product portfolio and presence.Polaris Market Research has segmented the global beta-carotene market on the basis of source, application and region:

Beta Carotene Source Outlook (Revenue, USD Million, 2015 – 2026)

Algae
Fruits & Vegetables
Synthetic
Others

Beta Carotene Application Outlook (Revenue, USD Million, 2015 – 2026)

Food & Beverages
Dietary Supplements
Cosmetics
Animal Feed

Beta Carotene Regional Outlook (Revenue, USD Million, 2015 – 2026)

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North America

U.S.
Canada

Europe

U.K.
Germany
France
Spain
Italy
Netherlands
Rest of Europe

Asia Pacific

India
China
Japan
Korea
Australia
Malaysia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Argentina
Rest of Latin America

Middle East & Africa

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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