Sandy, Utah, USA, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Carotenoids Market Size, Trends and Insights By Product Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin), By Source (Natural, Synthetic), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, Pharmaceuticals), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Carotenoids Market Size & share was valued at approximately USD 1.5 Billion in 2021 and is expected to reach USD 1.6 billion in 2022 and is expected to reach a value of around USD 2.1 Billion by 2030, at a compound annual growth rate (CAGR) of about 3.5 during the forecast period 2022 to 2030.”
Carotenoids are the colored pigments found in photosynthetic and non-photosynthetic organisms. The carotenoid pigments are mainly extracted from plant sources and act as a curative agent for treating multiple diseases, including cancer, eye disorder, heart disorder, Parkinson’s disease, etc. As they have numerous medicinal properties, they have immense importance and demand across various sectors, including health, food & beverage, pharmaceutical, etc. Despite the plants, the carotenoid pigments are also found in fungi, algae, and cyanobacteria, whose majority of the features resemble the plant cells. Additionally, carotenoid pigments have good anti-oxidant properties, which are used to slow down the aging process.
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Carotenoid Market Dynamics
Drivers
The demand for carotenoid pigments in the cosmetic industry propels the market growth for carotenoid stains.
Carotenoids are natural coloring pigments that are widely used in the cosmetic industry. Carotenoids are the best alternative source for chemical-based colors, which have become a severe health concern.
The surge to improve immunity and digestive health propels the market growth for carotenoids.
The increased health concerns, primarily associated with the immunity and digestive system, have led to a massive demand for carotenoid pigments across different regions. Though carotenoids have proven benefits to treat multiple health-related problems, it is high demand in the food & beverage and pharmaceutical industries.
(A free sample of the Carotenoids report is available upon request; please contact us for more information.)
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(Please note that the sample of the Carotenoids report has been modified to include the COVID-19 impact study prior to delivery.)
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Restraints
The fluctuating price of the synthetic carotenoid and the high price range difference between the synthetic carotenoid and the natural tetraterpenoids can be the primary factor restraining the market growth for carotenoid pigments. In addition, the market is slightly affected due to its volatile price among middle- and low-income society. Furthermore, the excessive usage of carotene across the developed regions is associated with high health concerns, likely hampering market growth in the future.
Opportunities
Industries across the Asia-Pacific region have witnessed cost-effective production and supply of the carotenoid, which provides lucrative opportunities for the growth of carotenoid pigments across Asia-Pacific areas. Furthermore, the increased demand for food and nutritional supplements among the younger generations has created enormous opportunities for carotenoids. Furthermore, the massive demand for carotenoids in the pharmaceutical sector has created multiple options for the carotenoid. The pigment is known to provide effective treatments against various diseases.
Challenges
Excessive usage of beta-carotenoid can harm health. The research stated that the excessive trial intervention with a high dosage of beta carotene could worsen lung cancer, creating multiple challenges for market growth. In addition, the harrowing extraction and processing of carotenoids can be challenging for the carotenoid market growth. Numerous amounts of plants are processed to acquire a few grams of carotenoid pigment, due to which the extraction and processing become difficult, which impedes the carotenoid market growth.
Key questions answered in this report:
- What is the size of the Carotenoids market and what is its expected growth rate?
- What are the primary driving factors that push the Carotenoids market forward?
- What are the Carotenoids Industry's top companies?
- What are the different categories that the Carotenoids Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Carotenoids market sample report and company profiles?
Click Here to Access a Free Sample Report of the Global Carotenoids Market @ https://www.custommarketinsights.com/report/carotenoids-market/
Market report
Based on product type, the beta-carotene segment dominated the carotenoid market in 2021. This market domination can be attributed to the increased consumer base for consuming organic and fortified food and dietary supplements to attain additional nutrition. Beta carotene is a food additive that adds extra nutrients, due to which people consume food rich in beta carotene.
Based on the source, the synthetic segment dominated the carotenoid market in 2021. This can be due to low-cost production and the easy manufacturing process of synthetic carotenoids. In addition, the synthetic carotenoids can be customized within the lab as per the preference. Therefore, synthetic carotenoids are used in various organic foods and as dietary supplements.
As per the application, the food and beverage segment dominated the carotenoid market in 2021. The increase in demand for the carotenoid from the food industry has led to the development of the carotenoid market.
Carotenoid adds nutritional value to any food, which is why it is used in the food industry to enhance the nutritional value of foods.
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Snapshots
Based on the geographical distribution, Europe has occupied the largest market share, with 39% of the total shares in 2021, and the market is expected to expand during the forecast period. This can be attributed to the rise in demand for health and food supplements across the European region which drives the market growth. Apart from that, the rapid increase in the cosmetic industry has led to a massive demand for carotenoid production across Europe. Furthermore, the increase in health concern as the substitution of chemical-based carotenoids has led to the production of natural carotenoid pigments, which is used as a natural coloring agent.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 1.5 Billion |
| Projected Market Size in 2030 | USD 2.1 Billion |
| CAGR Growth Rate | 3.5% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Koninklijke DSM, BASF, Chr. Hanse, Kemin Industries, Lycored Limited, Cyanotech Corporation, Fuji Chemical Industry Co Ltd, Novus International, DDW The Color House, Dohler Grou, Allied Biotech Corporation, E.I.D Parry, Farbest Brands, Excelvite Sdn. Bhd., AlgaTechnologies Ltd., and Others |
| Key Segment | By Product Type, Sourc, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
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Key Players
- Koninklijke DSM
- BASF
- Hansen
- Kemin Industries
- Lycored Limited
- Cyanotech Corporation
- Fuji Chemical Industry Co Ltd
- Novus International
- DDW The Color House
- Dohler Group
- Allied Biotech Corporation
- I.D Parry
- Farbest Brands
- Excelvite Sdn. Bhd.
- AlgaTechnologies Ltd.
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Browse the full “Carotenoids Market Size, Trends and Insights By Product Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin), By Source (Natural, Synthetic), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, Pharmaceuticals), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/carotenoids-market/
Recent Developments
- In June 2019, DDW Colour acquired Du Point Natural Colours to enhance its productivity rate and product portfolio. The acquisition is supposed to provide strength to the company in the market.
- In May 2019, Algatech announced a new product named AsaPure-EyeQ, a natural astaxanthin powder to cure eye and brain-related problems. The launched product has been clinically approved and is in the form of microencapsulated powder.
Market segments covered in the report
By Product Type
- Astaxanthin
- Beta-Carotene
- Lutein, Lycopene
- Canthaxanthin
- Zeaxanthin
By Source
- Natural
- Synthetic
By Application
- Feed
- Food & Beverages
- Dietary Supplements
- Cosmetics
- Pharmaceuticals
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Key Insights
- Based on type, the beta carotene segment has accounted for the 25% of the global market share as of 2021.
- As per the source, the synthetic segment has dominated the market, which stood at USD 1901.1 million in 2021.
- Based on the application, the food and beverage segment has held the largest market share, with 40% of the revenue share in the base year. It is further expected to expand during the forecast period.
- Europe has the largest market share, with 39% of the total carotenoid market.
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Recent Developments
- In June 2019, DDW Color House acquired Du Point Natural Colours to enhance its product portfolio across the global market. This acquisition is likely to strengthen the company’s position on a global scale.
- In May 2019, Algatech introduced a new AstaPure-EyeQ, a natural astaxanthin powder that can cure eye and brain-related diseases. The newly launched product is a type of microencapsulated powder which is clinically approved.
- In October 2020, Cyanotech Corporation declared the emergence of BioAstin Astaxanthin as a novel water disposable powder. The BioAstin brand currently provides a novel water-dispersible powder that acts as an antioxidant.
- In July 2020, BASF Nutrition & Health and Isobionics launched the earliest joint products, which have become a successful substitute for sandalwood oil due to their fragrance. It is a unique product whose manufacturing process is rarely known.
- In April 2019, Döhler Group acquired the major shares in Zumos Catalano Aragoneses S.A., situated in Spain. The initiative helped the company maintain its market position and increase its presence in the carotenoids and food segment.
- In April 2019, ExcelVite Sdn. Bhd. announced the collaboration with US Pharmacopeia to establish a plant carotene monograph. The production of this monograph took place to meet the ingredient standards of the company.
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This Carotenoids Market Research/Analysis Report Contains Answers to the following Questions.
- Which Manufacturing Technology is used for Carotenoids? What Developments Are Going on in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Carotenoids Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the Carotenoids Market? What Was the Capacity, Production Value, Cost and PROFIT of the Carotenoids Market?
- What Is the Current Market Status of the Carotenoids Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Carotenoids Market by Considering Applications and Types?
- What Are Projections of the Global Carotenoids Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Carotenoids Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact on Carotenoids Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the Carotenoids Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Carotenoids Industry?
Directly Purchase a copy of the Carotenoids report [220+ Pages] @ https://www.custommarketinsights.com/report/carotenoids-market/
Reasons to Purchase Carotenoids Market Report
- Carotenoids Market Report provides qualitative and quantitative market analysis based on segmentation involving economic and non-economic factors.
- Carotenoids Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Carotenoids Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Carotenoids Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
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Reasons for the Research Report
- The study provides a thorough overview of the global Carotenoids market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Carotenoids market analysis.
- The competitive environment of current and potential participants in the Carotenoids market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and Industry Vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Carotenoids market should find this report useful. The research will be useful to all market participants in the Carotenoids Industry.
- Managers in the Carotenoids sector are interested in publishing up-to-date and projected data about the worldwide Carotenoids market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Carotenoids products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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