Canthaxanthin Market 2018 Upcoming Trends, Growth Drivers and Challenges Till 2025

Posted on 2021-03-01 by Future Market Insights, Inc in Retail // 0 Comments

CITY, Country, 2021-Mar-01 — /EPR Network/ —

Canthaxanthin is a colour or dye similar to the pigment that makes carrots orange. It occurs naturally, but can also be sourced by synthetic processes in laboratories. Its key usage is to lower sensitivity to direct sunlight, which is also known as photosensitivity, in people who suffer from Erythropoietic Protoporphyria (EPP), a rare genetic disease. People suffering EPP are prone to skin reactions such as itch, rash and eczema caused due to sunlight. Canthaxanthin deposits under the skin create an artificial tan that carries antioxidant activity, thus offering protection to the skin against sun sensitivity. Moreover, canthaxanthin is used as an additive in food colouring and as an ingredient in animal feed to improve the colour of egg yolks, chicken skin and fresh water fish such as salmon & trout.

Increase in the incidence of skin colour disorders in the Asia Pacific region is expected to significantly boost the canthaxanthin market over the forecast period due to the presence of a large population coupled with growing economy & rapid industrialization, which boost the demand for the product.

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Global Canthaxanthin Market: Dynamics

Increase in the demand for canthaxanthin from the healthcare segment owing to its exceptional medicinal property for the treatment of skin diseases, such as itching, rashes and other skin colour disorders, is expected to fuel the demand for canthaxanthin over the forecast period. Moreover, increase in customer awareness about the benefits of the intake of canthaxanthin, coupled with the growing adoption of this ingredient in dietary supplements, personal care, the pharmaceutical industry, and food & beverages, is boosting the canthaxanthin share. However, inappropriate dosage of canthaxanthin can lead to adverse effects on the skin & eyes, as well as result in vision loss. These factors are likely to hamper the demand for canthaxanthin.

Global Canthaxanthin Market: Segmentation

Globally, the canthaxanthin market has been segmented as:

On the basis of product form, the global canthaxanthin market is segmented as:

Synthetic canthaxanthin
Natural canthaxanthin

On the basis of applications, the global canthaxanthin market is segmented as:

Food & Beverages
Dietary Supplements
Animal Feed
- Pets
- Livestock
- Aqua farming
Personal Care
Pharmaceuticals
Others

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On the basis of region, the global canthaxanthin market is segmented as:

North America
- U.S.
- Canada
Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Peru
- Rest of Latin America
Europe
- EU – 4 (Germany, France, Italy, Spain)
- UK
- Benelux (Belgium, Netherlands, Luxemburg)
- Nordic (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
- Rest of Europe
CIS & Russia
Japan
APeJ (Asia Pacific excluding Japan)
- Greater China
- India
- South Korea
- ASEAN Countries
- Rest of APeJ
Middle East & Africa (MEA)
- GCC Countries
- Turkey
- Iran
- Israel
- South Africa
- Rest of MEA

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North America is expected to be the dominant market for canthaxanthin owing to the extensive demand for dietary supplements, particularly from the ageing population, which is expected to largely fuel the growth of the market. However, Asia Pacific is expected to register the highest demand for canthaxanthin over the forecast period. Increasing demand for canthaxanthin from animal feed applications due to an increase in the penetration of aqua farming across emerging economies is expected to propel the market. Wide-ranging usage of canthaxanthin to improve bird health, to extend the shelf life of eggs and to strengthen the vitelline membrane of egg yolks is likely to improve the profitability of market players. Moreover, improving sales in countries such as China, Japan and other ASEAN countries due to an increase in the demand for quality poultry products such as eggs is also expected to boost the market during the forecast period. Overall, the global canthaxanthin market is expected to register significant growth over the forecast period.

Global Canthaxanthin market: Key players

Some of the key players operating in the global canthaxanthin market are:

DSM Nutritional Products AG
BASF SE
Novus International, Inc.
Novepha Company Limited
Noshly Pty. Ltd.
Zipont Chem Tech Co., Ltd
Parchem Fine & Specialty Chemicals
Guangzhou Wisdom Bio-Technology Co., Ltd.
Zhejiang Medicine Co. Ltd.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.

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