Fast-Paced Growth in End-use Adoption after COVID-19 pandemic to Propel Carotenoids Market Revenue Growth

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.

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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.

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.

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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.