The beta-carotene colorant market is expected to grow at a compound annual growth rate of 5.81% over the forecast period to reach a market size of US$212.136 million in 2027, from US$142.828 million in 2020.
Beta-carotene colorant is a red-orange pigment found in high concentrations in fruits and vegetables. It gives plants their reddish-yellow color. Besides occurring in natural sources, beta-carotene colorant is also used from its synthetic sources.
The ever-growing food and beverage industry is the largest market for beta-carotene colorants. This pigment is widely used in beverages, confectionaries, packed food, etc., as a colorant and to feed the ever-increasing population; its application is expected to increase further. Besides that, Beta-carotene is highly rich in Vitamin A and has antioxidant properties, which are expected to act as a booster for the market, especially in the pharmaceutical and dietary sectors. A shift in living standards has increased the consumption of organic goods, and as an organic pigment, the beta-carotene market can take advantage of favorable prospects.
High intake of beta colorant is linked with the side effects like loose stool, allergies, skin discoloration, etc., which is expected to hinder its market growth.
According to the United Nations, the world population is expected to reach 9.7 billion by 2050, which currently is 7.8 billion. With the ever-increasing demand for food and beverage accompanied by the factors like rising population and growing disposable income, the beta-carotene colorant market is expected to grow significantly. This is because beta colorant is an organic and intensely colored pigment which makes it a preferable colorant choice in food and beverages. Its naturally or synthetically derived red, yellow, and orange color is widely used in dressings, confectionaries, baked products, etc. With the growth in the food and beverage industry, significant growth of beta-carotene colorant is also expected.
Beta-carotene is a rich source of Vitamin A, vital for good vision, eye health, strong digestive system, mucous membrane, and healthy skin. These health properties associated with the product are expected to drive its market, especially in the pharmaceutical and dietary sectors. Although big doses of Vitamin A can be harmful, various researches have shown that Beta-carotene contains a safe amount of Vitamin A. According to UNICEF Data, deficiency of Vitamin A is the leading cause of preventable childhood blindness, and in 2020 only 2 out of 5 children received life-saving benefits of Vitamin A supplementation. With these concerns, the intake of Vitamin A becomes necessary and is expected to drive the beta colorant market.
Besides that, the beta colorant is an antioxidant that protects the body from damaging molecules called free radicals. If not treated, free radicals can damage the cells and cause some severe illnesses and increase the chances of heart diseases and cancer. With the advised high intake of antioxidants, the beta carotene colorant market stands in a favorable position.
Research over time has proved that a high intake of beta-carotene colorants and their overuse can cause side effects like allergies, loose stool, bruising, skin discoloration, joint pain, etc. Also, certain studies have found that a high intake of beta-carotene supplements by smokers or by people exposed to asbestos can increase the chances of lung cancer in them. These factors can hinder its market growth in the future.
Impact of COVID-19 Pandemic on the Beta-Carotene Colorant Market:
With the outburst of the COVID pandemic across the globe, people started taking dietary supplements rich in medical properties. This acted as a booster for the beta-carotene market because of its application in the pharmaceutical and dietary sectors. With increased self-care, a healthy intake of food and supplements rich in antioxidants increased, which elevated the demand for beta-carotene.
|Market size value in 2020||US$142.828 million|
|Market size value in 2027||US$212.136 million|
|Growth Rate||CAGR of 5.81% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Form, Source, End-Use, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BASF SE, Chr Hansen Holding A/S, San-Ei Gen F.F.I., Inc., Koninklijke DSM N.V., Wild Flavors Inc., Carotex Flavors, Foodchem International Corporation, BioExtract, Nutralliance|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the beta carotene colorant market size by 2027?
A1. The beta carotene colorant market is expected to reach a total market size of US$212.136 million in 2027.
Q2. What are the growth prospects for the beta carotene colorant market?
A2. The global beta carotene colorant market is expected to grow at a CAGR of 5.81% during the forecast period.
Q3. What is the size of the global beta carotene colorant market?
A3. Beta Carotene Colorant Market was valued at US$142.828 million in 2020.
Q4. How is the beta carotene colorant market segmented?
A4. The beta carotene colorant market has been segmented by product type, form, source, end-use, and geography.
Q5. What factors are anticipated to drive the beta carotene colorant market growth?
A5. The growth in the food and beverage industry is expected to drive the beta carotene colorant market growth.
Chr Hansen Holding A/S
San-Ei Gen F.F.I., Inc.
Koninklijke DSM N.V.
Wild Flavors Inc.
Foodchem International Corporation
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