Carotenoids Market: Size, Share, Dynamics and Trends by 2015 – 2021

Carotenoids are plant pigments that are accountable for red, yellow, and orange colors in numerous fruits and vegetables. These pigments play an important role in plant health. In addition, people who consume foods with carotenoids gain protective health benefits. Carotenoids are also found in the chloroplasts and chromoplasts of plants and other photosynthetic organisms such as some bacteria and fungi. Carotenoids act as antioxidants within the body, protecting against cellular damage, the effects of aging, and some chronic diseases. They can be assembled from fats and other basic organic metabolic building blocks of these organisms. Carotenoids are responsible for the characteristic colors to carrots, corn, canaries, and daffodils, as well as egg yolks, rutabagas, buttercups, and bananas.As antioxidants, carotenoids are useful for the protection of vision and combating cellular damage.Lycopene, a type of carotenoid found in tomatoes,helps in keeping the liver, prostate, breast, colon, and lungs healthy.

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The global carotenoids market is segmented on the basis of application as human nutrition, animal nutrition, and cosmetics& pharmaceuticals. Human nutrition segment comprises use of carotenoids in the form of antioxidants, colorants, and immune system regulators in healthy food consumed by people. On the basis of oxygen content carotenoids are further segmented as oxygenated carotenoids—those containing oxygen— and unoxygenated—oxygen-free carotenoids. Unoxygenated carotenoids are further sub-segmented as α-carotene, β-carotene, and lycopene.α-carotene is the second most common form of carotene.β-carotene is the most common form of carotene in plants and is used for food coloring. Lycopene is an important intermediate in the biosynthesis of various carotenoids including β-carotene. Further on the basis of source, the global market is segmented as synthetic carotenoids and natural carotenoids.

Of the application segments, human nutrition segment emerged as the largest application segment in the carotenoids market followed by cosmetics & pharmaceuticals segment. Cosmetics & pharmaceuticals segment is the second largest application segment owing to the increased demand of skin and hair care products.

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Rising awareness regarding the health benefits due to carotenoids is positively impacting the market for carotenoids mainly in Europe and North America. Europe remarkably dominates the global market owing to its high demand in the region. Majority of the sales of the market has its source form North America and Europe. In addition, Asia Pacific and Rest of the World are anticipated to witness considerable growth in the near future. Low-cost competition from some of the Asian countries is one of the market restraints of the global carotenoids market.

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Key players in the global carotenoids market are Algatechnologies Ltd., BASF SE, Dohler Group, Kemin Industries, Inc., FMC Corporation, and Chr. Hansen Holding A/S. Other major players influencing the market are Allied Biotech Corporation, DDW The Color House, ExeclViteSdn. Bhd., and Cyanotech Corporation. In addition, to avail competitive advantage, most of the major companies are following new growth techniques such as collaborations, new product launches, and acquisitions across the globe.

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