The global carotenoids market size was estimated to be US$ 1.51 billion in 2020 and is expected to reach US$ 2.21 billion by 2031 at a CAGR of 3.6%.
They are a class of phytonutrients that are fundamental for plant health and are rich sources of vitamin A and cell reinforcements. Carotenoids can be artificially created just as they are found in plants, green growth, microscopic organisms and parasites. The carotenoids are to a great extent created from plants, microbes, green algae and parasites. Plants are known to be the principal sources of carotenoids among the producers. Papaya, apricot, pineapple, pumpkin, peach, peach, orange, carrot and corn are the principal plant wellsprings of carotenoids. Carotenoids help in supporting eye, skin, cardiovascular health, and are as a rule broadly utilized for disease prevention.
The significant developing component towards carotenoids market is the presence of advanced techniques for the extraction of carotenoids. Moreover, the raise in the utilization of regular carotenoids as food colorants alongside expansion in utilization of food things across globe are additionally expected to elevate the general demand for carotenoids market during the forecast time of 2022 to 2032. Besides, the carotenoids are useful in preventive medical care, which is additionally expected to fill in as principal drivers for the carotenoids market at a worldwide level. Furthermore, the elevation in the need registered for healthy and natural food alongside supplement utilization is additionally lifting the development of the carotenoids market.
Beta-carotenes ruled the general business and represented a sizable portion of the worldwide volume share during 2019. Beta-carotenes are utilized as a colorant, cell reinforcement, and go about as a rich source of vitamin A in food, feed, dietary supplements, beauty care products, and meds, which thus, will invigorate carotenoids market size.
Asia-Pacific is relied upon to extend at a critical development rate over the speculation time of 2022 to 2032 because of the raise in the utilization of these added substances in feed, food, supplement, and drug and cosmetics applications. Europe was the biggest market and is relied upon to observe consistent income development at a significant CAGR from 2022 to 2032 considering rising demand for health supplements and animal feed.
The developing working class populace, instructive turn of events, and the rising expendable livelihoods in the area have prompted rising customer awareness with respect to the medical advantages of dietary enhancements. Also, the presence of significant drug organizations will additionally help with market development.
Global Carotenoids Market Value Share Analysis, by Geography (2022)
The report titled “Global Carotenoids Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2020 is the historic period, 2022 is the base year, and 2023 to 2032 is the forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Carotenoids Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Carotenoids market is segmented as type, source, application, and region. Based on type, the Carotenoids market is segmented into Astaxanthin, Beta-carotene, Lutein, Zeaxanthin, Lycopene, Canthaxanthin, Others. Based on source, the Carotenoids market is segmented into Synthetic, Natural, other. Based on application, the Carotenoids market is segmented into animal Feed, food & Beverages, dietary Supplements, personal care & cosmetics, pharmaceuticals, other. Based on geography, the Global Carotenoids Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Carotenoids Market. Further, market share of prominent companies in the Global Carotenoids Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Carotenoids companies. The Global Carotenoids Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Carotenoids business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Carotenoids Market.
The key players of the Global Carotenoids Market are Kemin Industries, Inc., BASF SE, Divi's Nutraceuticals, ExcelVite, DEINOVE SA, Döhler, DSM, Chr. Hansen Holding A/S, DDW The Color House, Lycored, Cyanotech Corporation, VIDYA HERBS, Allied Biotech Corporation, Brenntag North America, Inc., Vinayak Ingredients India Pvt Ltd., NOVUS INTERNATIONAL, Valensa International, Sensient Colors LLC, Farbest Brands, Fuji Chemical Industry Co Ltd., and others.
Global Carotenoids Market Key Segments:
Based on type
Based on source
Based on application
The carotenoids market is expected to reach US$ 2.21 billion by 2031.
The global carotenoids market is expected to register a CAGR of 3.6% by 2031.
Asia-Pacific is the principal contributor to the global carotenoids market.
Kemin Industries, Inc., BASF SE, Divi's Nutraceuticals, ExcelVite, DEINOVE SA, Döhler are few prominent players active in the market.
The raise in the utilization of regular carotenoids as food colorants alongside expansion in utilization of food things across globe are additionally expected to elevate the general demand for carotenoids market during the forecast
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