The Global carotenoids market report will support current players and participants to analyze and comprehend the market in detail. Furthermore, it likewise merges data about future market patterns, invaluable market opportunities and completes SWOT analysis. This data will help market players to find their field-tested strategy and achieve planned business goals. The report estimates that Global carotenoids market will experience growth in the midst of the evaluated time. The report thinks about the prime market players and key organizations in each territory from over the globe.
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Global carotenoids market is projected to rise to an estimated value of USD 2241.77 million by 2026, undergoing growth with a steady CAGR of in the forecast period of 2019-2026. This growth in the market can be attributed to the rising use of carotenoids to treat chronic diseases like cancer and its growing demand as health supplements amongst the health conscious consumers.
By thinking from the customer point of view, our team of researchers, analysts and industry experts work carefully to generate this market research report. This global market research report studies the market at regional and global level by considering major geographical areas. Besides, this market research report makes clients aware about the various strategies that are used by key players of the market. To succeed in this promptly changing market place, businesses must take up the market research report solution such as Global carotenoids market research report. The market data and information included in this Global carotenoids market report not only aids business make data-driven decisions but also assures maximum return on investment (ROI).
Key Market Competitors:
Few of the major competitors currently working in global carotenoids market are BASF SE, Chr. Hansen Holding A/S, FMC Corporation., Kemin Industries, Inc., Cyanotech Corporation., Allied Biotech Corporation, Doehler Ventures., DDW The Colour House., ExcelVite, Brenntag AG, Divi’s Laboratories Limited, Algatech LTD., NIKKEN SOHONSHA CORPORATION, E.I.D. – Parry (India) Limited., NOVUS INTERNATIONAL, PAT Vitamins, Sensient Technologies Corporation, Valensa International and others.
Market Definition: Global Carotenoids Market
Carotenoids are fat-soluble pigments produced by plants and algae that give the red, orange or yellow colour to fruits and vegetables. They play a significant role in the health of a plant, by absorbing the energy for photosynthesis. People who consume food containing carotenoids get various health benefits, as it acts an antioxidant and treats various diseases like cancer, diabetes, eye disorder etc.
- Rising use of carotenoids in the treatment of various diseases, like diabetes, cancer, and eye disorder, cancer, ageing, has increased its consumer base.
- Increased expenditure on research and development on the high value natural carotenoids.
- A rise in the demand for natural nutritional supplements, organic, and natural food has fuelled the demand for carotenoids which make it popular among health conscious consumers.
- Carotenoids use as a natural coloring agent is extensively increasing its application in the food and beverage industry.
- Increased application of carotenoids in nutraceutical and pharmaceutical manufacturing.
- Rising health problems, like several eye diseases and cancer increases the demand for carotenoids.
- Stringent government policies and approval norms are expected to hinder product demand over the upcoming years
- Lack of knowledge about cancer symptoms and adulteration restraint the growth of this market
- Health risks associated with over usage of carotenoids
Segmentation: Global Carotenoids Market
- Capsanthin & Paprika Extracts
- Fruits & Vegetables
- Algae & Fungi
- By Method of Production
- Chemical Synthesis
- Extraction from Botanical Material
- Algae Route
- By Formulation Type:
- Oil Suspensions
- Poultry Feed
- Pet Food
- Aquaculture Feed
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In February 2018, KnipBio has invented a new product, a single cell protein derived from a strain that provides powerful proteins of astaxanthin for aquafeed. The single cell protein would ensure the adequate health of aquatic animals, and would serve as a replacement to fishmeal, being a less costly type of carotenoid providing health benefits for salmon, shrimps and rainbow trout’s.
- In August 2018, BASF SE launched its next generation of carotenoid formulations, Lucantin NXT product line. The next generation of carotenoids would be stabilized by propyl gallate (PG) and butylhydroxytoluene (BHT) or tocopherol. These “Lucatin NXT” products would possess increased level of homogeneity, outstanding stability and increased shelf life while supporting egg yolk and broiler skin coloring efficacy.
Global carotenoids market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carotenoids market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure
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