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Global Carotene Market to reach USD 486.2 million by 2027.

Global Carotene Market Size study, by Type (Alpha-Carotene, Beta-Carotene) by Application (Food and Beverage, Pharmaceuticals and Dietary Supplements, Personal Care and Cosmetics, Animal Feed Industries) and Regional Forecasts 2021-2027

Product Code: HLSB-68937552
Publish Date: 17-07-2021
Page: 200

Global Carotene Market is valued approximately USD 382.6 million in 2020 and is anticipated to grow with a healthy growth rate of more than 3.50% over the forecast period 2021-2027. Carotene is an unsaturated hydrocarbon compound with the formula C40Hx that is produced by plants but not by animals in general. The location of a double bond in the cyclic group at one end differs between the two main isomers of carotene, alpha-carotene and beta-carotene. The most prevalent type is beta-carotene, which may be found in yellow, orange, and green leafy fruits and vegetables. Beta-carotene is the most common source of pro-vitamin A and is commonly employed as a food colorant in juice, cakes, sweets, butter, and margarine. The market has been growing due to rising demand for beta carotene in the food industry, as well as its widespread use in other end-user industries such as pharmaceuticals for colouring, pro-vitamin A source in dietary supplements, health ingredient in animal feed, and antioxidant in cosmetic products. Carotenoids are utilized in creams and lotions as active components having biological action. Carotenoids are utilized in cosmetic products for their antioxidant qualities and nutritional benefit to the skin and hair, much as they are in food and feed. The natural cosmetics industry is also expanding. They are expected to expand their income to $54 billion by 2027, with an estimated annual growth rate of 6–8%. Additionally, carotene is dominantly used in the animal feed industry. Carotene contributes to the desired color of the egg yolk, just as they do in the chicken diet. Carotene have also been added to the diet of aquatic animals in aquaculture to enhance the desired pink/red color of crustaceans, salmonids, and other farmed fish. Aquaculture is the world’s fastest-growing animal food production business; for example, Scottish aquaculture, which is dominated by Atlantic salmon farming and aims to double its economic contribution to £3.6 billion by 2030. However, potential side effects impede the growth of the market over the forecast period of 2021-2027. Although, increasing demand of algae-based carotene in functional and heath food presents a lucrative opportunity for the market.

Asia Pacific, North America, Europe, Latin America, and the Rest of the World are all examined in the geographical analysis of the worldwide Carotene market. Due to exclusive product releases and ongoing research and development operations, as well as rising demand for natural skincare cosmetics, Europe is the world’s top area in terms of market share. Whereas, Asia-Pacific is expected to grow at the fastest rate during the forecast period, due to an increase in the region’s food and beverage, cosmetics, and other end-user industries, as well as the presence of small-scale regional companies and investment in R&D operations for new product development, creating lucrative growth prospects for the Carotene market throughout Asia-Pacific.

Major market player included in this report are:
Koninklijke DSM N.V
Sensient Technologies
D.D. Williamson & Co. Inc.
Lycored Corp.
Parry Nutraceuticals
Foodchem International
Allied Biotech Corp.
Chr Hansen Holding A/S
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
By Application:
Food and Beverage
Pharmaceuticals and Dietary Supplements
Personal Care and Cosmetics
Animal Feed Industries

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global Carotene Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Million)
1.2.1. Carotene Market, by Region, 2019-2027 (USD Million)
1.2.2. Carotene Market, by Type, 2019-2027 (USD Million)
1.2.3. Carotene Market, by Application, 2019-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Carotene Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Carotene Market Dynamics
3.1. Carotene Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Nutraceutical industry expansion Growth in the pharmaceutical industry
3.1.2. Market Challenges Potential side effects
3.1.3. Market Opportunities Growing demand for natural skincare cosmetics
Chapter 4. Global Carotene Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Carotene Market, by Type
5.1. Market Snapshot
5.2. Global Carotene Market by Type, Performance – Potential Analysis
5.3. Global Carotene Market Estimates & Forecasts by Type 2018-2027 (USD Million)
5.4. Carotene Market, Sub Segment Analysis
5.4.1. Alpha-Carotene
5.4.2. Beta-Carotene
Chapter 6. Global Carotene Market, by Application
6.1. Market Snapshot
6.2. Global Carotene Market by Application, Performance – Potential Analysis
6.3. Global Carotene Market Estimates & Forecasts by Application 2018-2027 (USD Million)
6.4. Carotene Market, Sub Segment Analysis
6.4.1. Food and Beverage
6.4.2. Pharmaceuticals and Dietary Supplements
6.4.3. Personal Care and Cosmetics
6.4.4. Animal Feed Industries
Chapter 7. Global Carotene Market, Regional Analysis
7.1. Carotene Market, Regional Market Snapshot
7.2. North America Carotene Market
7.2.1. U.S. Carotene Market Type breakdown estimates & forecasts, 2018-2027 Application breakdown estimates & forecasts, 2018-2027
7.2.2. Canada Carotene Market
7.3. Europe Carotene Market Snapshot
7.3.1. U.K. Carotene Market
7.3.2. Germany Carotene Market
7.3.3. France Carotene Market
7.3.4. Spain Carotene Market
7.3.5. Italy Carotene Market
7.3.6. Rest of Europe Carotene Market
7.4. Asia-Pacific Carotene Market Snapshot
7.4.1. China Carotene Market
7.4.2. India Carotene Market
7.4.3. Japan Carotene Market
7.4.4. Australia Carotene Market
7.4.5. South Korea Carotene Market
7.4.6. Rest of Asia Pacific Carotene Market
7.5. Latin America Carotene Market Snapshot
7.5.1. Brazil Carotene Market
7.5.2. Mexico Carotene Market
7.6. Rest of The World Carotene Market

Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. BASF SE Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. Koninklijke DSM N.V
8.2.3. Sensient Technologies
8.2.4. D.D. Williamson & Co. Inc.
8.2.5. Lycored Corp.
8.2.6. Bioextract
8.2.7. Parry Nutraceuticals
8.2.8. Foodchem International
8.2.9. Allied Biotech Corp.
8.2.10. Chr Hansen Holding A/S
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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