9th
July 2019 – Global Carotenoids Market research report provides a specific tool
for evaluating the Industry, highlighting opportunities, and supporting
strategic and tactical decision-making. This study identifies that in this
rapidly evolving and competitive environment, up-to-date marketing information
is essential to monitor performance and make critical decisions for growth and
development. It provides information on trends and developments and focuses on
markets capacities and on the changing structure of the Carotenoids. In
addition, the research evaluated key market aspects, comprising capacity
utilization rate, revenue, price, capacity, growth rate, gross, production,
consumption, supply, export, market share, cost, import, gross margin, demand,
and much more.
Global carotenoids market is expected to
witness a massive growth with a staggering CAGR in the forecast period.
Carotenoids are basically organic pigments that are majorly found in numerous
microorganisms, algae, some animal species and plants. They generally give out
some bright colors like red, orange and yellow to protect all these species
from all the external harmful properties of air and light. These days,
carotenoids are more commercially feasible now due to the recombinant DNA
technology and rich advancements in biotechnology.
It is observed that there has been a
tremendous rise in the demand for natural and organic food as health inferences
and its sustainability has suddenly started increasing. Health-conscious people
have started consuming carotenoid supplements. These two major factors are
aiding the carotenoids market to grow massively.
But there are some health risks that are
associated with the carotenoid products. Excessive unregulated utilization of
these products can lead to health destructions and this is eventually impeding
the market’s development. But these days, carotenoids are being used to treat
various diseases such as diabetes, cancer, aging and eye disorders, and this is
why consumers have started preferring carotenoids. This factor will help the
carotenoids market to grow significantly in the forthcoming years.
The market is segmented on the basis of
source (natural, synthetic), product (beta-carotene, lutein, lycopene,
astaxanthin, zeaxanthin and canthaxanthin), application (food, supplements,
feed, pharmaceuticals, cosmetics) and region (North America, Europe, Asia
Pacific, Central & South America, Middle East & Africa)
Considering the product insights,
beta-carotene has been dominating the overall industry and will continue to
grow in the near future as well. The market size will stimulate in future as
beta-carotenes are used as antioxidants and colorants. It also acts a rich
source of vitamin A in food, cosmetics and medicines.
Looking at the insights of the sources,
synthetic sources have been generating a lot of dominance on the overall
industry. But the market has taken a drastic twist and now the natural sources
are anticipated to witness a tremendous growth in the near future as there is
huge awareness among consumers regarding health benefits and advantages of
natural products.
Europe and North America hold most of
the carotenoids industry yet Asia Pacific is an emerging market and is
predicted to show significant growth in the forthcoming years as well. Due to
the change in lifestyle and food consumption among consumers, the carotenoids
market in Asia Pacific has been experiencing major growth. Followed with this,
South America, is also likely to be a part of growing industry.
Some of the major key players of the
carotenoids market are Royal DSM N.V., FMC Corporation, Doehler Group, EID
Parry, ExcelVite, Allied Biotech, BASF, Cyanotech Corporation, Farbest Brands,
Guangzhou Leader Bio-Technology, Chr. Hansen, Algatechnologies, Kemin
Industries, DDW The Color House and AquaCarotene. All the leading companies are
including mergers and acquisitions, partnerships and joint ventures to enhance
the growth of the market efficiently.
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