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Carotenoids Market by Product, Source and Application - Global Opportunity Analysis and Industry Forecast 2018-2025

09-27-2018 05:14 PM CET | Health & Medicine

Press release from: Allied Market Research

Carotenoids Market - Allied Market Research

Carotenoids Market - Allied Market Research

The global carotenoids market was valued at $1,577 million in 2017 and is projected to reach $2,098 million by 2025, registering a CAGR of 3.6% from 2018 to 2025. In 2017, the animal feed segment accounted for about two-fifths share of the global market in terms of value.

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Carotenoids are plant-based organic pigments responsible for bright red, yellow, orange, and other hues. These are obtained from algae, bacteria, fungi, animal fat or can be produced synthetically. They are characterized chemically by a long aliphatic polyene chain composed of eight isoprene units. Astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others such as canthaxanthin, annatto, and zeaxanthin are the major carotenoids, which are available commercially.

The health benefits of carotenoids in the human food are becoming increasingly deceptive in the past few years, thus preventing several major health disorders. Higher dietary intake of carotenoids also helps the body to rejuvenate by promoting the growth of healthy cells and impede the growth of unhealthy ones. This has led to the greater consumption of carotenoids in human food, thus driving the market growth.

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In 2017, animal feed application segment accounted for the highest market share in the global carotenoids market and is anticipated to remain dominant during the forecast period. Animals require carotenoids as their bodies cannot produce these essential nutrients. Thus, carotenoids are added to animal feed as they provide immunity against diseases, which in turn, is anticipated to drive the growth of the market during the forecast period. Moreover, increase in demand for natural colors in food processing, beverages, and cosmetics industry is anticipated to open new avenues for carotenoids manufacturers. However, stringent regulations on use of carotenoids in human food, threats of adulteration, and higher cost of naturally sourced carotenoids as compared to synthetic carotenoids are projected to hamper the market growth.

In terms of value, Asia-Pacific and LAMEA collectively contributed more than one-third share in the global market in 2017.

Competitive and Comprehensive Analysis of Leading Market Players

•BASF SE
•Koninklijke DSM N.V.
•Chr. Hansen A/S
•FMC Corporation
•Cyanotech Corporation
•Kemin Industries Inc.
•DDW The Colour House
•Dhler Group
•Allied Biotech Corporation
•Excelvite

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The elder citizen constitutes a major percentage of the population in the developed regions and are the largest users of preventive and predictive medication such as carotenoids. Thus, increase in demand for dietary supplements from adult population is the major reason for higher demand of carotenoids.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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