Global Carotenoids Market to Reach $2.44 Billion by 2029, Growing at 5% CAGR

What market dynamics are playing a key role in accelerating the growth of the carotenoids market?
The escalating need for health supplements is predicted to fuel the expansion of the carotenoids market. Health supplements are products crafted to enhance dietary intake, and support, strengthen and augment total well-being by boosting the healthful operations of the human organism. Health supplements utilize carotenoids due to their antioxidant qualities. These offer advantages in tackling or preventing ailments like age-related macular degeneration (AMD) thereby endorsing general health and wellness. As an example, in May 2023, data from the Organic Trade Association (OTA), a business group for the organic sector in the U.S, revealed that the sales of organic foods in the country hit $61.7 billion in 2022, a 4.3% increase from $59.1 billion in 2021, exceeding a $60 billion benchmark for the first time. As a result, the carotenoids market has witnessed substantial growth due to the escalating demand for health supplements. Carotenoids Market Driver: Surge in Eye Disease Incidences Stimulates Growth in the Carotenoids Market

Get Your Carotenoids Market Report Here:
https://www.thebusinessresearchcompany.com/report/carotenoids-global-market-report

How will the growth rate of the carotenoids market shape industry trends by 2034?
In recent times, the size of the carotenoids market has seen substantial expansion. Projected growth indicates a rise from $1.9 billion in 2024 to a resounding $2 billion the following year in 2025, demonstrating a compound annual growth rate (CAGR) of 5.1%. The notable growth during the historic period is due to several factors like heightened awareness regarding health advantages, surge in demand within the food and beverage sector, the expansion of the nutraceutical industry, increased utilization in animal feed, and government regulations that favor natural ingredients.

In the coming years, the carotenoids market is predicted to experience significant growth, potentially reaching a worth of $2.44 billion by 2029, with a compound annual growth rate (CAGR) of 5.0%. Factors contributing to this projected growth during the forecast period include a heightened emphasis on sustainable sourcing practices, sustained increase in functional food and beverage markets, broader usage in pharmaceutical applications, a surge in demand for natural colourants and an increasing preference for its use in personal care products. The forecast period also foresees trends such as developments in extraction technologies, expansion of the market in evolving regions, a growing demand for enriched and functional food items, an increasing requirement for natural carotenoids, and an escalating awareness of their health advantages.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13243&type=smp

What new trends are reshaping the carotenoids market and its opportunities?
Dominant corporations in the carotenoids market are embracing innovative production technologies to enhance their market value. These innovative technologies are designed to boost the sustainability, efficiency, and productivity of the carotenoid production operations. In March 2023, a breakthrough in carotenoid production technology was made by NovoNutrients, an American biotech company. It offers a more environmentally friendly and efficient method to manufacture carotenoids. This technological advancement could lessen the ecological footprint of carotenoid manufacturing and make carotenoids more budget-friendly and easily obtainable. Its scalability implies it can be employed to generate vast amounts of carotenoids, potentially fulfilling the soaring global demand for carotenoids. Furthermore, it opens up novel opportunities for the application of carotenoids across different sectors.

Which primary segments of the carotenoids market are driving growth and industry transformations?
The carotenoids market covered in this report is segmented -

1) By Type: Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, Other Types
2) By Source: Natural, Synthetic
3) By Form: Beadlets, Powder, Liquid, Gel, Other Forms
4) By Application: Feed, Food And beverages, Dietary Supplements, Cosmetics, Pharmaceuticals

Subsegments:
1) By Astaxanthin: Natural Astaxanthin, Synthetic Astaxanthin
2) By Beta-Carotene: Natural Beta-Carotene, Synthetic Beta-Carotene
3) By Lutein: Lutein Esters, Free Lutein
4) By Lycopene: Natural Lycopene, Synthetic Lycopene
5) By Canthaxanthin: Natural Canthaxanthin, Synthetic Canthaxanthin
6) By Zeaxanthin: Zeaxanthin Esters, Free Zeaxanthin
7) By Other Types: Cryptoxanthin, Other Carotenoid Variants

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13243

Which geographical regions are pioneering growth in the carotenoids market?
Europe was the largest region in the carotenoids market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carotenoids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the influential players reshaping the carotenoids market landscape?
Major companies operating in the carotenoids market report are BASF SE, F. Hoffmann-La Roche AG, Novo Nordisk, Koninklijke DSM N.V., Givaudan, FMC Corporation, Sun Pharmaceutical Industries Ltd., Dohler Group, Cipla Limited, Chr. Hansen Holding A/S, Brenntag North America Inc., Zhejiang Medicine Co. Ltd., Divis Laboratories Ltd., Zhejiang NHU Co. Ltd., Kemin Industries Inc., Naturex SA, E.I.D. Parry Limited, Novus International Inc., LycoRed Corp., Beijing Gingko Group, Cyanotech Corporation, ExcelVite Sdn. Bhd., Fuji Chemical Industry Co Ltd., Allied Biotech Corporation, Sensient Colors LLC, Vinayak Ingredients India Pvt. Ltd., Bio Extracts Ltd., Algatechnologies Ltd., Valensa International LLC, Nutralliance Inc.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=13243&type=smp

What Is Covered In The Carotenoids Global Market Report?

• Market Size Forecast: Examine the carotenoids market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the carotenoids market for a structured understanding.
• Key Players Overview: Analyze major players in the carotenoids market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the carotenoids market.
• Segment Contributions: Evaluate how different segments drive overall growth in the carotenoids market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the carotenoids market.
• Industry Challenges: Identify potential risks and obstacles affecting the carotenoids market.
• Competitive Landscape: Review strategic developments in the carotenoids market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.