Carotenoids Market In-Depth Analysis and Marketing Strategies by 2025 - BASF SE, Koninklijke DSM N.V., Chr. Hansen A/S, FMC Corporation, Cyanotech Corporation

Carotenoids Market by Product (Astaxanthin, Capsanthin, Lutein, Beta-carotene, Lycopene, and Others), Source (Natural and Synthetic), and Application (Animal Feed, Human Food, Dietary Supplement, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025 offers a comprehensive analysis of the market size and forecast, competitive landscape, drivers & challenges along with their impact analysis, top investment pockets, and key strategic moves, and developments by prominent market players. According to the report, 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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Surge in health issues of geriatric population such as vision damage coupled with rise in adoption of carotenoids in the developing countries has boosted the growth of the global carotenoids market. However, strict standards and regulations regarding use of carotenoids in human food, high cost of naturally occurring carotenoids as compared to synthetic counterparts, and high chances of adulteration hamper the market growth. On the contrary, rise in demand for natural colorants in beverages, cosmetics, and food processing is expected to create lucrative opportunities in the near future.

The report bifurcates the product segment into astaxanthin, lutein, capsanthin, lycopene, beta-carotene, and others. The astaxanthin segment contributed nearly one-fourth share of the total market revenue in 2017, and is projected to maintain its dominance by 2025. However, the beta-carotene segment would grow at the fastest CAGR of 5.2% from 2018 to 2025.

The study classifies the carotenoids sources into natural and synthetic. The latter contributed nearly two-thirds share of the market revenue in 2017. However, the natural segment would grow at the fastest CAGR of 4.2% during the forecast period.

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The applications areas analyzed in the research are animal feed, dietary supplement, human food, and others. The animal feed segment generated the highest revenue of $685.1 million in 2017, accounting for 43% of the total market share. However, the dietary supplement segment would register the highest CAGR of 4.5% from 2018 to 2025.

Dominant players in the industry
• 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

Geographical regions analyzed in the research include North America, Europe, Asia-Pacific, and Latin America, 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 significant increase in consumption of carotenoids in the Chinese, Indian, and Indonesian food and beverage sector.

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