Carotenoids Market Growth Driving Factors and Key Development Factors, 2025

Felton, California, Sept. 08, 2020 – The global Carotenoids Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global carotenoids market was estimated at USD 1.21 billion in the year 2015 and is likely to witness significant growth, due to its increasing usage in numerous applications such as food, dietary supplements, animal feed, cosmetics and pharmaceuticals. Carotenoids also known as tetraterpenoids are color imparting organic pigments, that naturally occur in fruits, leafy vegetables, and roots. 

Key Players:

  • BASF SE
  • Allied Biotech
  • Kemin Industries
  • Brenntag AG
  • ExcelVite Sdn. Bhd.
  • Cyanotech Corp. 

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Growth Drivers:

Growing health awareness among consumers has led to increased usage of natural food products and nutritive supplements. This scenario is considered to drive the consumption of carotenoids over the years ahead.

Treatment of diabetes, eye disorders and cancer is likely to drive the demand of tetraterpenoids during the forecast period. Increasing research activities for developing high value natural carotenoids is expected to offer considerable growth opportunities in the industry during the forecast period. However, the stringent regulatory framework in developed regions is likely to hamper the industry growth.

Product Outlook:

  • Beta-carotene
  • Lutein
  • Lycopene
  • Astaxanthin
  • Zeaxanthin
  • Canthaxanthin 

Application Outlook:

  • Food
  • Supplements
  • Feed
  • Pharmaceuticals
  • Cosmetics 

Regional Insights: 

Asia Pacific is likely to witness tremendous growth, due to the increasing usage of the product in food, pharmaceuticals and personal care sectors. This scenario is projected to reflect in countries such as India, Japan and China owing to economic growth, technological advancements, low production costs and presence of a broad industrial base.

In terms of revenue, Europe held the largest share in 2015 and is likely to expand at a CAGR of 3.8% during the forecast period. Product consumption in the region is anticipated to rise as a result of significant demand from animal feed and health supplement sectors.

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