Report Overview

Global Carotenoids Market – Market Forecast & Trends

The Global Carotenoids Market was prized at USD 1.27 billion in 2019, and it is predictable to reach USD 1.91 billion by 2026, at a CAGR of 4.7 %, over the forecast period.

Numerous end-user applications of carotenoids, counting practice in preventive healthcare, and nutraceuticals, along with the rising significance of food excellence and appearance, have been the motivating issues for the global carotenoid market. With growing mindfulness among customers about clean-label solutions and health-based products, there has been a growing request for food encouraged with carotenoids, which offers an excellent chance for manufacturers, particularly in the developing markets, such as Asia-Pacific.

The surge in health matters of the elderly population, such as image damage coupled with the rise in acceptance of carotenoids in the emerging countries, has increased the development of the global carotenoids market. However, strict standards and regulations concerning the use of carotenoids in human food, high cost of naturally happening carotenoids as compared to synthetic complements, and high chances of contamination hinder the market growth. On the opposing, a rise in requests for natural colorants in beverages, cosmetics, and food processing is predictable to generate profitable chances in the near future.

Global Carotenoids Market – Overview

Carotenoids are organic colors that are found in many plants and organisms. These products act as antioxidants and defend the body against long-lasting diseases, cellular damage, and the effects of the elderly. Rising practice of this product in nutritional additions because of swelling health substances will surge energy market request.

Carotenoids are commercially reachable in numerous forms counting beta-carotene, lutein, lycopene, annatto, canthaxanthin, astaxanthin, zeaxanthin. These products find considerable practice in human food, animal feed, nutritional supplements, pharmaceuticals, and cosmetics as they offer excellent health interests, which in turn, will fuel market development over the next nine years.

The key driver for the industry is the fame of carotenoids in the cure of diabetes, cancer, and eye disorder. Rising R&D for the development of high-value natural carotenoids is expectable to create new growth chances for the market. However, strict controlling and approval norms are predictable to hinder product request over the forthcoming years.

Growth Drivers

Growing Demand for Natural Coloring

The purchase curiosity of the buyer surges as brands assertions the use of natural colors, as customers are demanding greater limpidity in their food and beverage. Customers observe a positive image about the product when the label rights fruit and vegetable juices and essences as colorings listed on the element statement. Carotenoids, such as beta-carotene in carrots and lycopene in tomatoes, harvest a range of tints from yellow to red, and anthocyanins, such as grape skin mine give fruits and vegetables their red, blue, and purple colors. This increased mindfulness and use of naturally resulting tones from sources, such as tomato and carrot, are motivating the carotenoid market, globally.

Global Carotenoids Market: Segmentation

The global carotenoids Market is segmented by type, application, source, formulation, and regional. On the basis of type, the market is segmented into annatto, zeaxanthin, astaxanthin, beta-carotene, canthaxanthin, lutein, lycopene, and others.

The lutein segment, because of type, is predictable to grow at the highest CAGR, in terms of value, during the estimate period. Lutein is produced by plants and found in some of the main food items, such as egg yolks, carrot, pepper, spinach, kale, squash, and grapes. It is used in both, human diet and animal nutrition products. Its wide suitability due to its ability to treat age-related eye complaints, including cataracts and macular degeneration, is a key issue motivating its demand.

On the basis of application, the market is divided into animal feed, food & beverages, dietary supplements, cosmetics, and pharmaceuticals. Carotenoids are widely used in animal nutrition products due to their tinting properties and combined in food to pigment the egg yolks, broiler skin, fishes, and crustaceans. These also aid in growing the resistance and refining the health of livestock by augmenting the excellence of nutrition.

The Global Carotenoids Market is divided into natural and synthetic due to Form.

The Global Carotenoids Market is segmented based on formulation; the beadlet segment is projected to control the carotenoids market in 2019. Carotenoid beadlets are free-flowing circular particles industrialized from sprig drying technology. They are usually wrapped in an aluminum foil bag and kept in a cool and dry place away from direct heat, light, oxygen. Some of the other chief welfares of using beadlet formulations include augmented stability, cold-water diffusion, and improved shelf life. 

Global Carotenoids Market: Regional insights

Geographically, the Global Carotenoids Market is divided into North America, Europe, Asia-Pacific, and LAMEA regions. North America and Europe have the prime carotenoid market, due to the increasing demand for fresh label foods and health awareness. Moreover, in the United Kingdom, the growing food security worries are forcing manufacturing to accept clean labels, which is activating the request for natural colors. Asia-Pacific is a developing market, as an increasing number of customers are taking preventive procedures in the form of health additions to avoid diseases. Changes in lifestyle and food intake amid customers have also managed the development of the carotenoid market in the Asia-Pacific region. Due to the increase in the medicinal and energy industries, South America has also shown significant growth.

Competitive Landscape

Koninklijke DSM (Netherlands), BASF (Germany), Chr. Hansen (Denmark), Kemin Industries (US), Lycored Limited (Israel), Cyanotech Corporation (US), Fuji Chemical Industry Co Ltd. (Japan), Novus International (US), DDW The Color House (US), Dohler Group (Germany), Allied Biotech Corporation (Taiwan), E.I.D Parry (India), Farbest Brands (US), Excelvite Sdn. Bhd. (Malaysia), AlgaTechnologies Ltd. (Israel), Zhejiang NHU Co. Ltd (China), Dynadis SARL (France), Deinove SAS (France), Vidya Europe SAS (France), and Divi’s Laboratories (India) and other prominent players.

Recent Development

Ø  In June 2019, DDW the Color House acquired Du Pont Natural Colors (Denmark) to enhance the occurrence of the company in the worldwide market. This acquisition would also help it expand its portfolio with new products.

Ø  In April 2019, Döhler Group acquired a mainstream of shares in Zumos Catalano Aragoneses S.A. (ZUCASA), which is based in Spain. This would help the company to increase its existence in the fruits and carotenoids section.

Ø  In April 2019, ExcelVite Sdn. Bhd. collaborated with US Pharmacopeia (US) to publish a new plant carotenes monograph. It was industrialized based on mixed carotene complex, EVTene. The periodical of this book would reinstate the efforts of the company to meet the high ingredient standards.

Ø  By Product Type

ü  Astaxanthin

ü  Beta-Carotene

ü  Lutein

ü  Lycopene

ü  Canthaxanthin

ü  Zeaxanthin

Ø  By Application

ü  Feed

ü  Food & Beverages

ü  Dietary Supplements

ü  Cosmetics

ü  Pharmaceuticals

Ø  By Source

ü  Natural

ü  Synthetic

Ø  By Formulation

ü  Oil suspension

ü  Powder

ü  Beadlet

ü  Emulsion

Ø  By Region

ü North America

ü Europe

ü Asia Pacific

ü South America

ü Middle East & Africa

The objective of the Study:

• To analyze and forecast the Global Carotenoids Market size of the market in terms of value.
• To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
• The Global Carotenoids Market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.
• To outline, categorized, and forecast the Global Carotenoids Market based on the Type, Application, By Source, By Formulation and Regional.
• To examine competitive developments like by Type, By Application, By Source, By Formulation, Regional within the Global Carotenoids Market.
• To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.
• To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Business Questions Answer by the Report

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and one will be the fastest - growing, and why?

Ø  A comprehensive survey of the competitive landscape and the market participant players

Ø  Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

Ø  With five additional company detail analysis

Ø  Additional country analysis

Ø  Detailed segment analysis

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