PUBLISHER: Grand View Research | PRODUCT CODE: 1404750
PUBLISHER: Grand View Research | PRODUCT CODE: 1404750
The global beta-carotene market size is expected to reach USD 1073.3 million by 2030, registering a CAGR of 4.3% over the forecast period, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the increasing demand from the food & beverages and personal care & cosmetics, and animal feed industries. According to the University of Rochester, beta-carotene is a specific type of carotenoid that is classified as a provitamin A carotenoid. While there are many different types of carotenoids, beta-carotene stands out due to its unique characteristics and functions. It is a precursor to vitamin A within the body and can be enzymatically converted into retinol, an active form of vitamin A. Other carotenoids, such as lycopene, lutein, and zeaxanthin, do not have provitamin A activity.
Moreover, beta-carotene contributes to the characteristic yellow to orange color of various fruits and vegetables. It is responsible for the vibrant color of carrots, sweet potatoes, and pumpkins. Other carotenoids, such as lycopene (red pigment) and lutein (yellow pigment), have different colors and are found in various food sources. In addition, carotenoids, including beta-carotene, exhibit antioxidant properties. They help protect cells and tissues from damage caused by free radicals. The product has significant applications in the pharmaceutical industry. According to the U.S. Food & Drug Administration (FDA), it is an approved nutrient supplement and is added to infant formulas as a source of vitamin A. In the pharmaceutical industry, it is also used in formulations to enhance the antioxidant properties of certain medications.
Moreover, due to its lipophilic nature, it can be used as a carrier or excipient in drug delivery systems. The personal care & cosmetics is expected to witness considerable growth over the forecast period owing to its wide usage in the personal care and cosmetics industry, as it serves as an antioxidant, skin-conditioning agent, and moisturizer to protect dry skin. It helps protect the skin from radical damage. Cosmetic products containing beta-carotene are used in various forms like creams, lotions, and serums. They are marketed as anti-aging products and are believed to improve the skin's elasticity as well as reduce the appearance of fine lines and wrinkles. Moreover, its ability to absorb UV radiation makes it a valuable ingredient in sunscreens and other skin protection products.