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Carotenoids Market Predicted to Cross $2,098 Million by 2025 - Global Trends and Growth Drivers

01-10-2019 07:07 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Carotenoids Market Predicted to Cross $2,098 Million by 2025 -

The global carotenoids market garnered $1.57 billion in 2017 and is expected to reach $2.09 billion by 2025, growing at a CAGR of 3.6% from 2018 to 2025.

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Carotenoids, as preventive healthcare and nutraceuticals, have led to its higher consumption in human food and dietary supplement. They offers several health benefits, which include cancer prevention, anti-inflammatory, and immune system benefits and are sometimes associated with cardiovascular disease prevention. Carotenoids are powerful antioxidant substances, which play an essential role in the neutralization reaction of free radicals. Thus, the antioxidant properties of carotenoids increase their application in cosmetics.

Increase in demand for natural colors in food processing, beverages, and cosmetic industry is anticipated to open new avenues for carotenoids manufacturers. However, stringent regulation on use of carotenoids in human food, threats of adulteration, and higher cost of naturally sourced carotenoids as compared to synthetic carotenoids are expected to hamper the market growth.

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In 2017, Europe accounted for the highest market share and is anticipated to dominate the market during the forecast period. Asia-Pacific is projected to grow at the highest CAGR from 2018 to 2025 owing to higher adoption of carotenoids in Indian and Indonesian food and beverage industry.

The global carotenoids market is segmented based on product, source, application, and region. Based on product, the market is divided into astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others. Based on source, the market is bifurcated into natural and synthetic. Based on application, the market is classified into animal feed, human food, dietary supplement, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific to grow the fastest by 2025:

Geographical regions analyzed in the research include North America, Europe, Asia-Pacific, and Latin America, the Middle East and Africa (LAMEA). The European region dominated the global carotenoids market in 2017, with a market share of about 42%. However, the Asia-Pacific region would become the fastest growing region, registering 4.3% CAGR from 2018 to 2025, owing to the significant increase in consumption of carotenoids in the Chinese, Indian, and Indonesian food and beverage sector.

Dominant players in the industry:

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

The growth strategies adopted by market players include new product launches, partnerships, collaborations, mergers & acquisition, joint ventures, and others to strengthen their position in the industry.

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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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