Global Carotenoids Market, By Product Type (Beta-carotene, Lutein, Lycopene, Astaxanthin, Zeaxanthin, Canthaxanthin, Others), Source (Natural, Synthetic), Formulation (Beadlet, Powder, Oil Suspension, Emulsion), Application (Animal Feed, Dietary Supplements, Food and Beverages, Personal Care and Cosmetics, Pharmaceuticals), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Carotenoids Market
The carotenoids market size is expected to grow at a compound annual rate of 4.00% in the forecast period 2021 to 2028. The rise in the usage in various applications counting dietary supplements, food, animal feed, pharmaceuticals and cosmetics is the factor responsible for the growth of carotenoids market in the forecast period of 2021 to 2028.
The carotenoids are largely produced from plants, bacteria, algae and fungi. Plants are the main sources of carotenoids amongst the manufacturers. Papaya, apricot, pineapple, pumpkin, peach, peach, orange, carrot and corn are the foremost plant sources of carotenoids.
The major growing factor towards carotenoids market is the presence of innovative technologies for the extraction of carotenoids. Furthermore, the rise in the use of natural carotenoids as food colorants along with increase in consumption of food items across globe are also expected to heighten the overall demand for carotenoids market over the forecast period of 2021 to 2028. Moreover, the carotenoids are beneficial in preventive healthcare which is also expected to serve as foremost drivers for the carotenoids market at a global level. In addition, the rise in the demand for healthy and natural food along with supplement consumption are also lifting the growth of the carotenoids market.
However, the strict regulatory norms, lack of R&D activities in underdeveloped countries and high risks associated with high doses of carotenoids are projected to act as a restraint towards the growth of carotenoids market, whereas the high production costs confine the entry of smaller players which can challenge the growth of the carotenoids market.
Moreover, the rise in the demand in the pharmaceutical industry and increase in the demand for naturally sourced carotenoids are expected to further generate new opportunities for the carotenoids market in the forecast period of 2021 to 2028.
This carotenoids market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the carotenoids market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Carotenoids Market Scope and Market Size
The carotenoids market is segmented on the basis of product type, source, formulation and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the carotenoids market has been segmented into beta-carotene, lutein, lycopene, astaxanthin, zeaxanthin, canthaxanthin and others. Others have further been segmented into capsanthin, annatto, alpha-carotene and apocarotenal.
- Based on source, the carotenoids market has been segmented into natural and synthetic.
- On the basis of formulation, the carotenoids market has been segmented into beadlet, powder, oil suspension and emulsion.
- The application segment of the carotenoids market has been segmented into animal feed, dietary supplements, food and beverages, personal care and cosmetics and pharmaceuticals.
Carotenoids Market Country Level Analysis
The carotenoids market is analyses and market size, volume information is provided by country, product type, source, formulation and application as referenced above.
The countries covered in the carotenoids market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe leads the carotenoids market due to the strong presence of leading manufacturers and rapid increase in the aging population. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the rise in the usage of these additives in feed, food, supplement, pharmaceutical and cosmetic applications.
The country section of the carotenoids market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Carotenoids Market Share Analysis
The carotenoids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to carotenoids market.
The major players covered in the carotenoids report are BASF SE, Kemin Industries, Inc., Divi's Nutraceuticals, DDW The Color House, ExcelVite, DEINOVE SA, Döhler, DSM, Chr. Hansen Holding A/S, Lycored, Cyanotech Corporation, Allied Biotech Corporation, VIDYA HERBS, Brenntag North America, Inc., NOVUS INTERNATIONAL, Vinayak Ingredients India Pvt Ltd., Valensa International, Sensient Colors LLC, Farbest Brands and Fuji Chemical Industry Co Ltd., among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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