27-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Carotenoids Market By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others), By Source (Natural and Synthetic), By Formulation (Beadlet, Powder, Oil Suspension, and Emulsion), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, and Pharmaceuticals), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Carotenoids market in 2019 was approximately USD 1.8 Billion. The market is expected to grow at a CAGR of 4.5% and is anticipated to reach around USD 2.5 Billion by 2026.
Carotenoids are organic pigments present in various plants and animals. These natural components act as antioxidants and help safeguard the body against cellular damage, chronic diseases, and aging. The increasing health concerns have encouraged the use of carotenoids in various dietary supplements.
Browse the full “Carotenoids Market By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others), By Source (Natural and Synthetic), By Formulation (Beadlet, Powder, Oil Suspension, and Emulsion), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, and Pharmaceuticals), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/global-carotenoids-market-by-type-astaxanthin-beta-carotene-957
Market Drivers:
The growth of the global Carotenoids market is attributed to the increasing use of colorants. Additionally, technological development in the carotenoids extraction processes is anticipated to boost the growth of the global Carotenoids market. The increasing use of natural carotenoids in food, animal feed, dietary supplements, pharmaceuticals, and cosmetics is expected to accelerate the growth of the global Carotenoids market. Apart from this, the increasing preference for healthy & natural food coupled with the escalating consumption owing to the rising health issues is likely to propel the market growth. The rising R&D for the development of high-value natural carotenoids and high prominence of carotenoids in the treatment of diabetes, cancer, and eye disorder is projected to create new growth opportunities for the market. However, stringent regulatory norms are estimated to hamper the product demand in the coming years.
Market Segment Dominance:
- Lutein category is projected to exhibit the highest growth in the global Carotenoids market
Lutein is majorly found in plants and other food items including carrot, egg yolks, spinach, kale, grapes, squash, and pepper. The rising use of lutein in both human nutrition and animal nutrition products is anticipated to boost the growth of the lutein in the global Carotenoids market. Apart from this, the rising popularity owing to its increasing use to treat age-related eye diseases is one of the major factors augmenting the demand.
- Feed category accounts for the largest market share in the Carotenoids market
Carotenoids are widely used in the animal nutrition products owing to its coloring properties, thereby surging the feed category. In addition to this, the rising use in the feed to pigment the egg yolks, broiler skin, fishes, and crustaceans. In addition to this, the increasing demand for immunity and health improvement in the livestock by increasing the quality of nutrition is projected to boom the carotenoids demand in the feed industry. Furthermore, the feeding beta-carotene helps improve the fertility of cattle, swine, and horses and astaxanthin & canthaxanthin help in taming the growth of larval fishes and salmons, thereby boosting the Carotenoids market.
Regional Dominance:
- Europe is projected to account for the largest share in the carotenoids market
Europe is estimated to exhibit the largest market share in the global Carotenoids market owing to the increasing geriatric population and high demand for lutein, lycopene, and beta-carotene for the treatment of cataract, diabetes, cancer, and other heart-related issues. The naturally-sourced carotenoids are estimated to drive the growth of the market in this region.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 1.8 Billion |
Projected Market Size in 2026 |
USD 2.5 Billion |
CAGR Growth Rate |
4.5% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
BASF, Koninklijke DSM, Zhejiang NHU Co. Ltd, Excelvite Sdn. Bhd., Vidya Europe SAS, Chr. Hansen, Kemin Industries, Cyanotech Corporation, Lycored Limited, Fuji Chemical Industry Co Ltd., DDW The Color House, Dynadis SARL, E.I.D Parry, Novus International, Allied Biotech Corporation, Dohler Group, AlgaTechnologies Ltd., Farbest Brands, Deinove SAS, and Divi’s Laboratories. |
Key Segment |
By Type, By Source, By Formulation, By Application, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Key Market Players:
Some of the key players in the global market include BASF, Koninklijke DSM, Zhejiang NHU Co. Ltd, Excelvite Sdn. Bhd., Vidya Europe SAS, Chr. Hansen, Kemin Industries, Cyanotech Corporation, Lycored Limited, Fuji Chemical Industry Co Ltd., DDW The Color House, Dynadis SARL, E.I.D Parry, Novus International, Allied Biotech Corporation, Dohler Group, AlgaTechnologies Ltd., Farbest Brands, Deinove SAS, and Divi’s Laboratories.
This report segments the global Carotenoids market as follows:
Global Carotenoids Market: Type Segmentation Analysis
- Astaxanthin
- Beta-carotene
- Lutein
- Lycopene
- Canthaxanthin
- Zeaxanthin
- Others
Global Carotenoids Market: Source Segmentation Analysis
Global Carotenoids Market: Application Segmentation Analysis
- Feed
- Food & Beverages
- Dietary Supplements
- Cosmetics
- Pharmaceuticals
Global Carotenoids Market: Formulations Segmentation Analysis
- Oil Suspension
- Powder
- Beadlet
- Emulsion
Global Carotenoids Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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