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Canthaxanthin Market Latest Innovations, Drivers and Industry Key Events 2018 to 2028

10-25-2018 09:29 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Canthaxanthin Market Latest Innovations, Drivers and Industry

Canthaxanthin Market: An Overview

Canthaxanthin is a colour or dye similar to the pigment that makes carrots orange. It occurs naturally, but can also be sourced by synthetic processes in laboratories. Its key usage is to lower sensitivity to direct sunlight, which is also known as photosensitivity, in people who suffer from Erythropoietic Protoporphyria (EPP), a rare genetic disease. People suffering EPP are prone to skin reactions such as itch, rash and eczema caused due to sunlight. Canthaxanthin deposits under the skin create an artificial tan that carries antioxidant activity, thus offering protection to the skin against sun sensitivity. Moreover, canthaxanthin is used as an additive in food colouring and as an ingredient in animal feed to improve the colour of egg yolks, chicken skin and fresh water fish such as salmon & trout.

Increase in the incidence of skin colour disorders in the Asia Pacific region is expected to significantly boost the canthaxanthin market over the forecast period due to the presence of a large population coupled with growing economy & rapid industrialization, which boost the demand for the product.

Global Canthaxanthin Market: Dynamics

Increase in the demand for canthaxanthin from the healthcare segment owing to its exceptional medicinal property for the treatment of skin diseases, such as itching, rashes and other skin colour disorders, is expected to fuel the demand for canthaxanthin over the forecast period. Moreover, increase in customer awareness about the benefits of the intake of canthaxanthin, coupled with the growing adoption of this ingredient in dietary supplements, personal care, the pharmaceutical industry, and food & beverages, is boosting the canthaxanthin share.  However, inappropriate dosage of canthaxanthin can lead to adverse effects on the skin & eyes, as well as result in vision loss. These factors are likely to hamper the demand for canthaxanthin.

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Global Canthaxanthin Market: Segmentation

Globally, the canthaxanthin market has been segmented as:

On the basis of product form, the global canthaxanthin market is segmented as:

Synthetic canthaxanthin
Natural canthaxanthin
On the basis of applications, the global canthaxanthin market is segmented as:

Food & Beverages
Dietary Supplements
Animal Feed
Pets
Livestock
Aqua farming
Personal Care
Pharmaceuticals
Others
On the basis of region, the global canthaxanthin market is segmented as:

North America
U.S.
Canada
Latin America
Brazil
Mexico
Argentina
Chile
Peru
Rest of Latin America
Europe
EU – 4 (Germany, France, Italy, Spain)
UK
Benelux (Belgium, Netherlands, Luxemburg)
Nordic (Norway, Denmark, Iceland, Sweden)
Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
Rest of Europe
CIS & Russia
Japan
APeJ (Asia Pacific excluding Japan)
Greater China
India
South Korea
ASEAN Countries
Rest of APeJ
Middle East & Africa (MEA)
GCC Countries
Turkey
Iran
Israel
South Africa
Rest of MEA
North America is expected to be the dominant market for canthaxanthin owing to the extensive demand for dietary supplements, particularly from the ageing population, which is expected to largely fuel the growth of the market. However, Asia Pacific is expected to register the highest demand for canthaxanthin over the forecast period.  Increasing demand for canthaxanthin from animal feed applications due to an increase in the penetration of aqua farming across emerging economies is expected to propel the market. Wide-ranging usage of canthaxanthin to improve bird health, to extend the shelf life of eggs and to strengthen the vitelline membrane of egg yolks is likely to improve the profitability of market players. Moreover, improving sales in countries such as China, Japan and other ASEAN countries due to an increase in the demand for quality poultry products such as eggs is also expected to boost the market during the forecast period. Overall, the global canthaxanthin market is expected to register significant growth over the forecast period.

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Global Canthaxanthin market: Key players

Some of the key players operating in the global canthaxanthin market are:

DSM Nutritional Products AG
BASF SE
Novus International, Inc.
Novepha Company Limited
Noshly Pty. Ltd.
Zipont Chem Tech Co., Ltd
Parchem Fine & Specialty Chemicals
Guangzhou Wisdom Bio-Technology Co., Ltd.
Zhejiang Medicine Co. Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.

The report covers exhaust analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes:

North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
CIS and Russia
Asia-Pacific (China, India, ASEAN, South Korea)
Japan
Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

Report Analysis@ https://www.factmr.com/report/1356/canthaxanthin-market

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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Canthaxanthin market is estimated to exhibit 2.2% CAGR from 2018 to 2024
Canthaxanthin market is expected to generate strong demand from healthcare segment due to its excellent medicinal property for the treatment of skin rashes, itching and skin color disorder. Also, improved medicinal effects such as reducing sunlight sensitivity for erythropoietic protoporphyria (EPP) patients are the main factors supporting demand. The industry has wide acceptance in animal feed and particularly in aquafeed due to its significant impact on product appearance and support
Canthaxanthin Market - BASF, Novepha Company, Hangzhou Onicon Chemical, Parchem, …
Canthaxanthin Market was over USD 75 million in 2017 and is estimated to exhibit 2.2% CAGR from 2018 to 2024. Canthaxanthin is widely used in cosmetic and personal care products owing to its strong pigmentation properties, fueling the product demand during the forecast time frame. Cosmetic products are gaining attention from the last few years owing to their increasing consumer necessity along with surging consumer consciousness pertaining to skin health
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