Industry Background:
Beta carotene, a type of substance called carotenoid, and an antioxidant that converts to vitamin A and played an important role in health. Rapidly growing ageing population and changing lifestyle and increasing consumer awareness about anti-cancer and other health benefits boost the demand for food and health supplements that contain beta carotenes.This growth is primarily driven by Increasing Consumer Awareness About Anti-Cancer and Other Health Benefits and Growing Number of Geriatric Population and Increasing Cases of Chronic Diseases.
Globally, a noticeable market trend is evident Increasing Demand from Personal Care Products and Cosmeceuticals
. Major Vendors, such as Koninklijke DSM N.V. (Netherland), BASF SE (Germany), Allied Biotech Corporation (Taiwan), Chr Hansen (Denmark), Lycored (United States), FMC Corporation (United States), D.D. Williamson & Co., Inc. (United States), Zhejiang Medicine (China), HJ-Rise International (Taiwan) and WuHan Stars Modern Bio-engineering Co. (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
The colour additive beta-carotene may be safely used for colouring foods generally, in amounts consistent with good manufacturing practice, except that it may not be used to colour those foods for which standards of identity have been promulgated under section 401 of the act unless the added colour is authorized by such standards.
Market Drivers
- Increasing Consumer Awareness About Anti-Cancer and Other Health Benefits
- Growing Number of Geriatric Population and Increasing Cases of Chronic Diseases
Market Trend
- Increasing Demand from Personal Care Products and Cosmeceuticals
- The Growth in the Penetration of Beta-Carotene in Pharmaceutical Sector
Restraints
- Fluctuations in the Price of Beta-Carotene
Opportunities
Growing Consumer Inclination Towards Natural Alternatives to Prevent Skin and Vision Related Problems and Increasing Incidences of Eye Diseases
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