Increasing demand for healthy & natural food to drive the growth of global carotenoids market

According to TechSci Research report, Global Carotenoids Market By Source (Synthetic Carotenoids Vs Natural Carotenoids), By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, and Zeaxanthin, Others), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, and Pharmaceuticals), By Formulation (Beadlet, Powder, Oil Suspension and Emulsion),  By Region, Forecast & Opportunities, 2025, global carotenoids market is expected to witness a steady CAGR during the forecast period. Increasing use of natural carotenoids as food colorants is one of the major factors accounting for the growth of global carotenoids market. Moreover, improvements in the technologies being used for the extraction of carotenoids is expected to bode well for the growth of global carotenoids market through the forecast period. In addition to this, surging utilization of carotenoids in preventive healthcare, is positively influencing the growth of global carotenoids market. Also, growing consumption of supplements on account of rising health issues are making headway for the growth of global carotenoids market across the globe. Along with this, these carotenoids act as antioxidants and therefore help in protecting the body from chronic diseases, cellular damage, and the effects of aging, which is anticipated to positively contribute to the market growth during the next five years. However, there are some factors that might act as major impediments to the growth of global carotenoids market through 2025 such as stringent regulatory and approval norms.

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Global carotenoids market can be segmented based on source, type, application, formulation, company and region. Considering the application, the market is fragmented into feed, food & beverages, dietary supplements, cosmetics, and pharmaceuticals. The feed segment dominated the global carotenoids market in terms of largest market share until 2019 and is further anticipated to hold its dominance during the forecast years as well which can be accredited to the fact that carotenoids are widely used in animal nutrition products owing to their coloring properties. Moreover, these products are incorporated in feed to pigment the egg yolks, broiler skin, fishes, and crustaceans, which is anticipated to boost the growth of segment during the next five years. In terms of formulation, the market is fragmented into beadlet, powder, oil suspension and emulsion. Out of which, the beadlet segment is anticipated to grow at a high pace during the forecast period on account of the benefits it offers such as increased stability, enhanced of shelf life and cold-water dispersion. This is a key factor augmenting the demand for carotenoids in the formulation segment.

Koninklijke DSM, BASF, Chr. Hansen, Cyanotech Corporation, Allied Biotech Corporation, Lycored Limited, Kemin Industries, Fuji Chemical Industry Co Ltd., Novus International, Döhler Group, Excelvite Sdn. Bhd., DDW the Color House, Farbest Brands, Algatechnologies Ltd., Zhejiang NHU Co. Ltd., E.I.D. Parry, Divi’s Laboratories, Dynadis SARL, Vidya Europe SAS, einove SAS are among others are the leading players operating in global carotenoids market. The leading players are adopting several growth strategies to enhance the market scenario of carotenoids. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diversify their product portfolio in order to strengthen their market position.

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“Europe is forecast to dominate the global carotenoids market during the next five years on account of increase in the aging population in the region resulting in high demand for lutein, lycopene, and beta-carotene in order to treat cataract and minimize the risks associated with cancer, diabetes and other heart-related issues. Furthermore, growing investments in this sector is also contributing to the growing trend. Additionally, shift in preference for natural and clean label products is further boosting the market growth in Asia-Pacific region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Carotenoids Market By Source (Synthetic Carotenoids Vs Natural Carotenoids), By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, and Zeaxanthin, Others), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, and Pharmaceuticals), By Formulation (Beadlet, Powder, Oil Suspension and Emulsion), By Region, Forecast & Opportunities, 2025 has evaluated the future growth potential of global carotenoids market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global carotenoids market.

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