“Carotenoid Market“ offer significant and proficient insights into the current market scenario and the emerging growth dynamics. The report on Carotenoid Market provides the market players as well as the new visitors to show complete view of the market landscape. The comprehensive research will enable the well-established as well as the emerging players to establish their business strategies and achieve their short-term and long-term goals. The report also presents a significant evaluation of the scope of the regions and where the key participants might find potential growth opportunities in future.
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The Carotenoid Market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered financial information of last 3 years, key development in past five years.
The global carotenoid market is projected to reach USD 2,070 million by 2023, registering a CAGR of 4% from 2018 to 2023.
Carotenoids are normally found in microorganisms, algae, and higher plants as well as some animal species. They provide bright yellow, red, and orange color and protect these species from the harmful effects of light, air, and sensitizer pigments. Carotenoids are majorly used as food coloring agents. However, with the advancements in biotechnology and recombinant DNA technology, the extraction of carotenoids is more commercially viable now than before. This has led to an increase in the production of carotenoid-based products. Consumers are more informed about the health benefits of carotenoid-based supplements and fortified foods. They use them as a preventive measure against ailments like arthritis, diabetes, heart disease, obesity, cancer, cataracts, macular degeneration, and skin damage. The growth of the functional foods market is also expected to boost the market for carotenoids. Although there are hundreds of carotenoids, only a few are used for commercial purposes. The carotenoids market has grown significantly in the past few years due to its increasing end-use applications in animal feed, dietary supplements, pharmaceuticals, food and beverages, cosmetics, etc.
The key driver that has led to the growth of the carotenoid market is strong growth in end-use industries like animal feed, food & beverages, dietary supplements, and pharmaceuticals. Other factors include rising health ailments like obesity and nutrient deficiency and changing consumer preferences towards natural nutritional supplements.
There is an increasing demand among consumers for clean and natural products that are made from natural supplements and colors. This has forced manufacturers to work on the extraction of carotenoid via natural means. For example, DSM has launched CaroCareÂ® solutions, which offer a range of natural-sourced beta-carotene formulations.
The carotenoid market is segmented by type, source, and application. By type, carotenoids are further sub-segmented into beta-carotene, astaxanthin, lutein, annatto, canthaxanthin, lycopene, zeaxanthin, and others. Among these, beta-carotene is estimated to have the fastest growth during the forecast period. It is widely used for food coloring and as a natural supplement.
Carotenoids are used in animal feed, food & beverages, dietary supplements, cosmetics, pharmaceuticals, and other applications. Carotenoids are used as color enhancers in natural foods like egg yolk, chicken, meat, and fish. This improves the aesthetic look of the product and therefore, looks more appealing to the customer.
North America and Europe have the largest carotenoid market. Asia-Pacific is an emerging market, as an increasing number of consumers are adopting preventive measures in the form of health supplements to prevent diseases. Changes in lifestyle and food consumption among consumers have also led to the growth of the carotenoid market in the Asia-Pacific region. Owing to a rise in the pharmaceutical and energy industries, South America has also shown significant growth.
Key Developments in the Market
â¢ February 2018 – KnipBio has developed SCP strain to produce astaxanthin for aquafeed. The company announced that it has developed a way to produce commercial amounts of its single-cell protein-based meal that also contains bio-astaxanthin.
The major players include – ALGATECHNOLOGIES LTD, ALLIED BIOTECH CORP, AQUACAROTENE LTD, BASF SE, VALENSA INTERNATIONAL LLC, CHR. HANSEN A/S, CYANOTECH CORPORATION, DDW, THE COLOR HOUSE, SENSIENT TECHNOLOGIES CORPORATION, EID PARRY LTD, EXCELVITE SDN. BHD., FARBEST BRANDS, FMC CORPORATION, SENSIENT TECHNOLOGIES CORPORATION, KEMIN INDUSTRIES, INC., KONINKLIJKE DSM NV, amongst others.
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â¢ Analyzing outlook of the market with the recent trends and Porterâs five forces analysis
â¢ Market dynamics which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
â¢ Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
â¢ Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
â¢ Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
â¢ Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
â¢ 3-month analyst support, along with the Market Estimate sheet in excel
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Carotenoid Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Carotenoid Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Carotenoid market on the basis of product type, application, and region
- To forecast and analyze the size of the Carotenoid market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Carotenoid market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Carotenoid market
- To analyze opportunities in the Carotenoid market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Carotenoid market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Carotenoid Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Carotenoid trade
Marketing Channel Development Trend
Carotenoid Market Positioning
Distributors/Traders List enclosed in Positioning Carotenoid Market
Carotenoid Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leaders revenue forecasts till 2024. In conclusion, Carotenoid Market 2019 report presents the descriptive analysis of the Carotenoid Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Carotenoid Market competitors.
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