Carotenoids Market on Track for Strong Growth, Estimated to Grow at 5% CAGR Through 2029

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Is the Expected CAGR for the Carotenoids Market Through 2025?
In recent times, the size of the carotenoids market has shown substantial growth. The market is projected to increase from $1.9 billion in 2024 to $2 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.1%. This growth throughout the previous era may be credited to factors such as heightened health consciousness, a surge in demand within the food and beverage sector, the growth of the nutraceutical industry, escalated utilization in animal feed, and government regulation's endorsement of natural components.

What's the Projected Size of the Global Carotenoids Market by 2029?
In the upcoming years, the carotenoids market is projected to experience significant growth, reaching a market size of $2.44 billion in 2029 with a compound annual growth rate (CAGR) of 5.0%. This expected growth within the prediction period can be credited to factors like intensified concentration on sustainable sourcing, continuous growth in the sector of functional foods and beverages, a wider scope of application in the pharmaceutical sector, an escalating demand for natural colorants, and a surge in popularity for personal care products. Notable future trends include technological progress in extraction techniques, market growth in emerging regions, increasing requirements for fortified and functional foods, a rise in demand for natural carotenoids, and growing awareness regarding their health benefits.

View the full report here:
https://www.thebusinessresearchcompany.com/report/carotenoids-global-market-report

Top Growth Drivers in the Carotenoids Industry: What's Accelerating the Market?
The carotenoids market is anticipating growth, driven by a surge in the demand for health supplements. Health supplements, designed to enrich diets and enhance the body's overall health, often utilise carotenoids due to their antioxidant properties. They are particularly beneficial in combatting age-related macular degeneration (AMD) and maintaining general wellness. As an example, the Organic Trade Association (OTA) reported in May 2023 that organic food sales in the United States hit $61.7 billion in 2022. This was a 4.3% increase from $59.1 billion in 2021, marking the first occasion of surpassing the $60 billion threshold. Consequently, the escalating demand for health supplements is fuelling the growth of the carotenoids market. Additionally, the carotenoids market is being propelled forward due to the rising prevalence of eye diseases. Eye diseases, encompassing a broad spectrum of health anomalies affecting the eye and related systems, are prompting increased demand for carotenoid-based solutions, sparking innovation in the market. Carotenoids offer benefits such as reducing the risk of cataracts, and AMD, while also aiding visual function. Highlighting this, the Centers for Disease Control and Prevention claimed in December 2022 that 20.5 million Americans, aged 40 and above, are affected by at least one cataract - equating to 17.2% of the population. By 2028, this figure is set to rise to around 30 million. As such, the increasing incidence of eye diseases is propelling the growth of the carotenoids market onwards.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13243&type=smp

What Trends Will Shape the Carotenoids Market Through 2029 and Beyond?
Leading firms in the carotenoids market are introducing cutting-edge production techniques to enhance their market profitability. These novel techniques employ state-of-the-art technologies to refine the efficiency, output, and eco-friendliness of carotenoid manufacturing procedures. For example, in March 2023, NovoNutrients, an American biotech firm, unveiled a novel approach to carotenoid production technology. This ground-breaking method provides a more effective and eco-friendly alternative for generating carotenoids. The impact on the environment from producing carotenoids could be significantly reduced and make carotenoids more economical and widely available. This new method is also scalable, meaning that it can create substantial amounts of carotenoids. It has the potential to fulfill the globally expanding demand for carotenoids. Furthermore, it offers fresh possibilities for the deployment of carotenoids across a diverse array of applications.

What Are the Main Segments in the Carotenoids Market?
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, s, 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

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=13243&type=smp

Which Top Companies are Driving Growth in the Carotenoids Market?
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.

Which Regions Will Dominate the Carotenoids Market Through 2029?
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

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13243

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

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 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email: 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.