Carotenoids Market by Key Players: Economic Impact, Development Strategy, Rapid Growth and Industry Analysis | Forecast to 2025

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

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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 natural carotenoids, which are available commercially.

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The health benefits of carotenoids in 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 Carotenoids market growth.

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Some of the major players analyzed in Carotenoids Market report:

•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

In 2017, the animal feed application segment accounted for the highest Carotenoids 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, the 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 the 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 Carotenoids market growth.

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