Beta-carotene Market Size to Grow by $ 80.18 Million through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the beta-carotene market and it is expected to grow by $ 80.18 million, accelerating at a CAGR of almost 3.02% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
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Beta-carotene Market: Emerging Trends to Impact Market Growth
Growth by the food and beverages segment will be significant during the forecast period. One of the most crucial reasons for the use of beta-carotene in food products is because it imparts aesthetic appeal and increases the nutritional value. Consumers' preference for natural ingredients that offer aesthetic appeal, as well as have health benefits, is the major driving factor for the growth of the beta-carotene market. APAC has been exhibiting a significant growth rate for beta-carotene market vendors. Factors such as cheap manufacturing costs and easy availability of raw materials are accelerating the beta-carotene market growth in APAC. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Beta-carotene Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Allied Biotech Corp., BASF SE, BioExtract, Chr. Hansen Holding A/S, Foodchem International Corp., Kemin Industries Inc., Koninklijke DSM NV, Lycored Corp., and Marigan Holding BV are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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