Beta Carotene Market Size

Beta Carotene Market size was valued at USD 602.6 Million in 2023 and is anticipated to reach USD 1.11 Billion by the end of 2036, expanding at around 4.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of beta carotene is assessed at USD 631.52 Million.. The growth of the market can be attributed to the rising consumption of dietary supplements. Dietary supplements containing beta-carotene boost the immunity of people suffering from chronic diseases. Around 77% of people in America take dietary supplements. Moreover, adults between the ages of 35 and 54 use dietary supplements the most of any age group.

In addition to these, factors that are believed to fuel the market growth of beta carotene include the rising production of fruits and vegetables. Fruits and vegetables have a high concentration of beta-carotene and are also consumed by a major set of the population. The supply of vegetables is expected to increase by 23-grams per person per day in 2030 and by 97–112 grams per person per day in 2031 across the globe. On the other hand, growing demand for cosmetic products is expected to surge the market’s growth, as the production of cosmetics contains beta carotene that is good for the skin. The International Trade Commission estimates that China will have the largest cosmetics sector in 2020, with makeup accounting for 12% of the whole market.