Global Market Study on Carotenoids: Europe to Lead the Global Market in Terms of Revenue during 2017 - 2026


Carotenoid Market
  • Published On : Jan-2018 |
  • Pages : 170 Pages |
  • Format :

Global Carotenoids Market: Overview

The global carotenoid market is expected to witness a healthy growth attributed to increasing demand in the food and beverage industry. Growing prevalence of various cardiovascular diseases such as heart diseases has led to surge in demand for carotenoids in the global market. In addition, as carotenoids are rich in antioxidants and other health benefiting properties, sales are expected to remain high in the cosmetic and personal care industry. Surge in demand for carotenoids in the personal care, cosmetics, and food and beverage industry has led to significant growth in the global market.

The report provides detailed information in the important aspects of the global carotenoids market and offers data on the growth patterns, competition landscape, factors fuelling growth of the global market and important segments.

Market Taxonomy

Region

Product Type

Application

Source

  • North America
  • Beta-Carotene
  • Food & Beverage Industry
  • Synthetic
  • Latin America
  • Lutein
  • Feed Industry
  • Natural
  • Europe
  • Astaxanthin
  • Dietary Supplements
  • Japan
  • Canthaxanthin
  • Pharmaceutical products
  • APEJ
  • Lycopene
  • Cosmetic & Personal care
  • MEA
  • Others
  • Other Applications

Global Carotenoids Market: Dynamics

Growth of the global carotenoids market is mainly segmented as mainly bound to various macro-economic and micro-economic factors. The report reveals that the global carotenoids market is expected to witness significant growth attributed to increasing demand for functional food products in the food and beverage industry. As the need for protection against various diseases such as cardiovascular diseases continue to increase, demand for carotenoids in the food and beverage industry is expected to remain high. Alzheimer’s disease, eye disorders, cataract, infertility, heartburn, depression, high blood pressure and epilepsy are some of the diseases that continue to derive demand for carotenoids in the functional food products globally. Increasing prevalence of various diseases is expected to impact growth of the global carotenoids market significantly.

Moreover, increasing demand for food colorants in the bakery products and other confectionary products has further led to surge in the sales of carotenoids in the global market. Surge in demand for food colorants and food supplements has further led to surge in demand for carotenoids in the global market. This in turn is expected to contribute towards growth of the global carotenoids market positively.

In addition, carotenoids also continue to witness significant demand in the personal care and cosmetic industry. As the carotenoids are rich in antioxidants and other healthy properties such as vitamin A, C, E, and D, demand is expected to remain high in the cosmetics and personal care industry. Moreover, surge in demand for the dietary supplements has further contributed towards growth of the global carotenoids market significantly. As the need for producing carotenoids continue to increase, manufacturers are increasingly looking to opt for carotenoids in the pharmaceutical industry. As the carotenoids are rich in various health benefits, sales of the carotenoids in the food, cosmetics and personal care industry.

Global Carotenoids Market: Segmentation

In the next section, the global carotenoids market is segmented into product type, application, source, and region. On the basis of product type, the global carotenoids market is segmented as beta-carotene, lutein, astaxanthin, canthaxanthin, lycopene, and others. Based on application, the global market is segmented as food & beverage industry, feed industry, dietary supplements, pharmaceutical products, cosmetic & personal care, and other applications. By source, the global market is segmented as synthetic and natural. On the basis of region, the global market is segmented as North America, Latin America, Europe, Japan, APEJ, and MEA.

Global Carotenoids Market: Competition

Major players in the global carotenoid market are Royal DSM N.V., Kemin Industries, Guangzhou Leader Bio-Technology, FMC Corporation, Farbest Brands, ExcelVite, EID Parry, Doehler Group, DDW The Color House, Cyanotech Corporation, Chr. Hansen, BASF, AquaCarotene, Allied Biotech, and Algatechnologies.

Growing prevalence of eye diseases and cancer has led to surge in demand for carotenoids in the food and beverage industry. As the need for prevention from various diseases increases, sales of functional food products continue to remain high. In order to offer healthy food products with biologically active food ingredients has led the manufacturers to witness significant demand for carotenoids globally. Carotenoid also continues to witness significant demand in the cosmetic industry attributed to increasing vitamin A properties. These factors are expected to impact growth of the global carotenoids market during the forecast period.

global carotenoids market

According to Persistence Market Research, the global carotenoids market is expected to account for over 6,900 units over the forecast period, 2017-2026.

Prevalence of Cardiovascular Diseases to Impact Global Market Growth

Increasing health concerns related to immunity, brain/memory and digestive system has led to growing preference for fortified and functional food products. Prevalence of various cardiovascular diseases such as heart disease has further led to increasing preference for functional food products in the food industry. Growing need for prevention from other diseases such as cataract and elderly muscular degeneration has also fuelled demand for functional food products. Other health related disorders contributing towards growth of the global carotenoids market include epilepsy, infertility, heartburn, high blood pressure, depression, and Alzheimer’s disease. As the need for functional food products, food coloring products, food supplements, and food pigments remain high, demand for carotenoids is expected to remain high.

Demand to Remain High in the Food Industry

Besides food industry, demand for carotenoids is expected to remain high in the pharmaceutical and cosmetic industry globally. As carotenoids are rich in vitamin A, demand continues to remain high in the cosmetic industry. Growing need for ingredients that are rich in antioxidants and other benefiting attributes such as vitamin A, C, E and D has led to surge in demand for carotenoids in the cosmetic industry. Attributed to various health benefitting attributes, manufacturers are increasingly opting for carotenoids for production of various cosmetic products. Surge in demand for carotenoids in the cosmetic industry will continue to contribute towards growth of the global carotenoids market during the forecast period.

Pharmaceutical Industry to Contribute Towards Growth of Global Market

In addition, growing production of the dietary supplements in the pharmaceutical industry will further impact growth of the global carotenoids market positively. With the growing middle class population, demand for dietary supplements, meat and milk is expected to increase. These factors are further expected to impact growth of the global market positively.

Food & Beverage Industry to Represent a Leading Segment

As demand for functional food products continue to remain high, demand is expected to remain high in the food & beverage industry. Based on application, the food & beverage industry segment is expected to represent the highest growth, accounting for a value of over US$ 2,400 Mn by the end of 2026. However, the pharmaceutical products source segment is expected to register the fastest growth in the global market during the forecast period.

On the basis of source, the synthetic carotenoids segment is expected to generate significant revenues, accounting for a value of over US$ 4,700 Mn by the end of 2026. In contrary, the natural source segment is expected to register the highest CAGR over the forecast period.

By product type, the beta-cortene is expected to witness a significant revenue growth, accounting for a value of over US$ 2,000 Mn by the end of 2026. On the other hand, the letein product type segment is expected to register a robust CAGR throughout the forecast period.

Competition Tracking

Leading market players operating in the global carotenoids market include Algatechnologies, Allied Biotech, AquaCarotene, BASF, Chr. Hansen, Cyanotech Corporation, DDW The Color House, Doehler Group, EID Parry, ExcelVite, Farbest Brands, FMC Corporation, Guangzhou Leader Bio-Technology, Kemin Industries and Royal DSM N.V.

Company Profiles

  • Algatechnologies
  • Allied Biotech
  • AquaCarotene
  • BASF 
  • Chr. Hansen
  • Cyanotech Corporation
  • DDW The Color House
  • Doehler Group
  • EID Parry
  • ExcelVite
  • Farbest Brands
  • FMC Corporation
  • Guangzhou Leader Bio-Technology
  • Kemin Industries
  • Royal DSM N.V.
  • Others
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