Carotenoids Market size is projected to reach USD 1168.7 Million by 2027, from USD 1127.5 Million in 2019, at a CAGR of 1% during the forecast period 2021-2027.
The carotenoids market is projected to take a significant hike in the coming years owing to its increasing potential applications in human healthcare, food coloring, personal care and cosmetics, and pharmaceuticals. Carotenoids are a class of pigments distributed ubiquitously in nature throughout the globe. These pigments have grabbed significant attention due to their applications in various industries, including biotechnology and more. Carotenoids may be classified into two groups based on the presence or absence of oxygen in their structures: carotenes (do not contain oxygen) and xanthophylls (contain oxygen).
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Currently, individuals are increasingly aware of the relevance of healthy diet on health and prevention of diseases. Consequently, bioactive compounds, including lipids, antioxidants, carbohydrates, and peptides, have become vital for human nutrition and the encouragement for the development of functional foods. Functional foods refer to foods that are rich in substances and bioactive compounds that are useful against diseases. The appearance of these foods externally is similar to that of conventional foods; conversely, functional foods offer much more advantages beyond essential nutritional functions and are increasingly preferred over traditional foods by individuals. They reduce the risks of chronic diseases and exhibit psychological benefits. In this context, incorporating carotenoids into diets with low amounts of natural pigments can offer health benefits which is contributing to the carotenoids market growth. Also, the bioavailability of carotenoids is improved when they are added to food, as compared to when they are consumed directly.
The major companies include:
- DSM
- BASF
- Allied Biotech
- Chenguang Biotech
- FMC
- Dohler
- Hansen
- Carotech
- DDW
- Excelvite
- Anhui Wisdom
- Tian Yin
- Kemin
Global Carotenoids Market – Segmentation
By Product
- Astaxanthin
- Lutein
- Capsanthin
- Beta-Carotene
- Lycopene
- Others
By Source
- Natural
- Synthetic
By Application
- Nutraceutical
- Pharmaceutical
- Poultry Feed
- Human Food
- Others (Cosmetics)
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Scope of the Report
The research study analyzes the global Carotenoids industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Carotenoids Market Report
1. What was the Carotenoids Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Carotenoids Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Carotenoids Market was the market leader in 2018?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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