Carotenoids Market Growth or Demand Increase or Decrease for what contains?
The market is witnessing strong demand due to the increasing adoption of carotenoids for their antioxidant properties, anti-inflammatory effects, and potential health benefits in preventing chronic diseases such as cancer and cardiovascular disorders.
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Carotenoids Market CAGR Estimation:
The Carotenoids Market size was valued at USD 4.7 Billion in 2023 and the total Carotenoids revenue is expected to grow at a CAGR of 4.5 % from 2024 to 2030, reaching nearly USD 6.4 Billion by 2030.
Carotenoids Market Segmentation:
by Type
Astaxanthin
Beta-carotene
Lutein
Lycopene
Canthaxanthin
Zeaxanthin
Other types
Capsanthin
Annatto
Alpha-carotene
Apocarotenal
Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Other varieties (capsanthin, annatto, alpha-carotene, and apocarotenal) are the different segments of the carotenoids market based on type. Right now, astaxanthin and beta-carotene are the most popular, and there is a tremendous demand for their carotenoids on the market. One of the primary causes of the aforementioned pigments’ popularity is the potential role they may play in boosting immunity and generating a number of significant health benefits. The market for carotenoids worldwide is ready for innovative pigments that are ethically sourced and perform better.
by Application
Feed
Food & beverages
Dietary supplements
Cosmetics
Pharmaceuticals
The Carotenoids market is divided into five segments based on application: feed, food and beverage, dietary supplements, cosmetics, and pharmaceuticals. Because of their colouring properties, carotenoids are frequently used in animal feed products for fish, prawns and chicken. Thus, the most common application for this product is in animal feed. The colour of egg yolks, grill skin, fish, and crustaceans is enhanced and improved when the chemical is externally added to their diet. They can improve animal health and increase reproduction. Fertility of horses, pigs, and cattle can be improved by feeding beta-carotene, according to multiple field studies.
by Formulations
Oil suspension
Powder
Beadlet
Emulsion
The market for carotenoids has been divided into the following segments based on formulations: oil suspension, powder, beadlet, and emulsion. The beadlet segment is anticipated to lead the carotenoids market over the forecast period. Spray drying produces free-flowing, spherical particles known as carotenoid beadlets. They are frequently kept cold and dry, away from heat, light, and oxygen, and wrapped in aluminium foil. Beadlet formulations also provide the important benefits of increased stability, cold water dispersion, and extended shelf life.
by Source
Natural
Synthetic
The market for carotenoids is divided into Natural and Synthetic segments according on Source. Because they are inexpensive and simple to extract, synthetic sources currently account for a large portion of the carotenoids market revenue share. But as customers gravitate towards food, cosmetics, and pharmaceuticals along with other products made with natural materials, the need for pigments derived from natural sources is growing. Due to the quick shift in consumer preferences and the constant increase in demand for organic products, the market is anticipated to develop at a significant compound annual growth rate (CAGR) over the projection period.
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Carotenoids Market Overview:
The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Carotenoids Market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.
Carotenoids Market Growth or Demand in which regions??
North America leads the Carotenoids Market, driven by a strong consumer base interested in health and wellness trends, followed by Europe with increasing adoption of vegan diets and sustainable food choices. The Asia-Pacific region is expected to witness rapid growth due to rising disposable incomes and growing awareness of plant-based diets.
Carotenoids Market Scope & Methodology:
The competitive landscape of the Carotenoids Market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Carotenoids Market . The report employed a bottom-up approach to ascertain Carotenoids Market estimations and growth rates.
To gain insights into Carotenoids Market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Carotenoids Market , including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.
Both primary and secondary data gathering techniques were employed for the Carotenoids Market . Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Carotenoids Market.
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Carotenoids Market Key Players:
Major Global Key Players:
1. Zhejiang NHU Co. Ltd. (China) – Global
2. Algatechnologies Ltd. (Israel) – Global
3. Chr. Hansen Holding A/S (Denmark) – Global
Leading Key Players in North America:
1. DSM Nutritional Products, LLC (USA)
2. BASF Corporation (USA)
3. Kemin Industries, Inc. (USA)
4. FMC Corporation (USA)
5. DDW The Colour House (USA) – North America
6. Novus International Inc. (USA) – North America
7. Sensient Technologies Corporation (USA) – North America
8. Novus International Inc. (USA) – North America
9. Cyanotech Corporation (USA) – North America
Market Follower key Players in Europe:
1. BASF SE(Germany) – Global
2. Naturex SA (Givaudan SA) (France)
3. Lycored Limited (Israel)
4. Döhler Group (Germany) – Europe
5. Deinove SAS (France) – Europe
Prominent Key player Asia Pacific:
1. Kemin Industries, Inc. (USA)
2. Vidya Europe SAS (France) – Europe
3. Excelvite (Malaysia) – Asia-Pacific
4. Divi’s Laboratories Limited (India) – Asia-Pacific
5. Allied Biotech Corporation (Taiwan) – Asia-Pacific
6. Synthite Industries Ltd. (India) – Asia-Pacific
7. Zhejiang NHU Co. Ltd. (China) – Asia-Pacific
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Key questions answered in the Carotenoids Market are:
- What is Carotenoids Market ?
- What is the growth rate of the Carotenoids Market ?
- Which are the factors expected to drive the Carotenoids Market growth?
- What are the different segments of the Carotenoids Market ?
- What are the factors restraining the growth of the Carotenoids Market ?
- What is the demand pattern of the Carotenoids Market ?
- What major challenges could the Carotenoids Market face in the future?
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- Market Size, Share, Size & Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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