Global Market Insights, Inc. has announced the launch of Carotenoids Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Rising consumer and producer preference for carotenoids owing to its high value in the pharmaceutical, food, and cosmetic industry will fuel the industry growth. These products act as a vital precursor to amino acids in feedstocks and have coloring & antioxidant properties, which is driving product penetration. Moreover, benefits such as reducing the risk of cardiovascular diseases, increasing immunity, and improving eye health will further promulgate the demand for carotenoids infused products.

Factors such as the prevalence of the chronic disease, drug affordability, and favorable government policies concerning drug formulations will drive product demand across the pharmaceutical sector. Carotenoids are a major source of antioxidants owing to which it is used in various nutraceutical formulations for treating high cholesterol and blood pressure. Also, the presence of essential micronutrients such as vitamin A, vitamin D, etc. will further enhance its scope in functional food applications.

Stringent regulations pertaining to food additives will create hindrance for carotenoids market growth. For instance, FAO has regularized limit of beta-carotene to 400 mg/kg for breakfast cereals to avoid health risk associated with high dosage. However, a regulatory framework designed to limit the impacts of carotenoids on the environment, humans, and animals will provide a positive scope for industry development.

Natural carotenoids market is anticipated to witness significant gains over 4.5% by 2024. Growing demand for natural colors from various industries such as cosmetics, pharmaceuticals, and food will drive the segment growth. Increasing demand for clean label products owing to growing consumer awareness regarding ill effects of its synthetically derived counterparts will further accentuate segment share.

Beta carotene will witness over 4% CAGR up to 2024. Growing health awareness, hectic lifestyle and early age problems in the current generation are driving the consumer to shift towards natural food products which will drive the market growth. Beta carotene is a red-orange colored pigment used abundantly for manufacturing color supplements in pink, orange, yellow, and red tones. For instance, in 2017 BASF SE launched Lucarotin 10 CWD (Cold Water Dispersible) / O (Orange) Plus-a 10% beta carotene powder for food application. Beta-carotene derived from algae, responses actively to UV radiations owing to which it is extensively used in manufacturing skin care products.

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Food & beverage is expected to register over 20% market share by 2024. Color is a vital aspect of foods and beverages and hence carotenoids are majorly used as an additive in the food industry. Carotenoids are a bright yellow, red, and orange pigment and are majorly used as a food coloring agent. Although there are a variety of carotenoids available, very few are used commercially. Also, the demand for naturally produced food is growing rapidly in countries such as the US, UK, Australia, and Japan, which is further driving the market growth.

Europe carotenoids market is anticipated to account for over 40% market share by 2024. Presence of key market players has contributed to the region’s growth. Stringent norms by the EU related to the use of synthetic carotenoid has accentuated the natural carotenoid market growth. Additionally, the rising demand for nutraceutical products infused with carotenoids among the geriatric population will further accentuate the market share.

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Chr. Hansen, BASF, Royal DSM, FMC Corporation, Kemin Industries Inc., Cyanotech Corporation, Dohler Group, Allied Biotech Corporation, and Divis Laboratories are among the key players operating in carotenoids market. The carotenoids market share is fragmented in nature due to the presence of international, and regional players. New product development, mergers & acquisitions, technological innovations, and strategic collaborations are the major strategies adopted by industry players for enhancing their market share. For instance, in November 2017, Chr. Hansen announced that it has extended its patented encapsulation technology to beta-carotene products to improve stability of color pigments for use in beverages.

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Global Market Insights, Inc. has added a new report on Carotenoids Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

Global Carotenoids Market size was valued at over USD 200 million in 2015 and is anticipated to witness over 4% CAGR up to 2024. Increasing prevalence of cancer, obesity, and diabetes has triggered a paradigm shift towards the use of carotenoids owing to its nutraceutical benefits against the treatment of such diseases. Positive application outlook across various end-use industries such as food & beverage, pharmaceutical, cosmetics, animal feed, and dietary supplements will drive the market share. Further, government initiatives to promote a healthy diet to reduce the adverse effects of diseases caused due to obesity will promote industry expansion.

Shifting consumer preference for ingredients that support health functions such as bone density and immunity will provide new avenues for product penetration. Increasing demand for antioxidants, micronutrients, and vitamins will fuel the product adoption across myriad end-use sectors.

Rising consumer awareness about health benefits from the carotenoid intake is likely to drive market demand. Increase the prevalence of lifestyle and early age problems in the present generation is encouraging customers to consume naturally derived food ingredients. Moreover, the market also stands to benefit from the advancements of biotechnological processes that aid the industrial production of natural carotenoids.

Increasing demand for animal protein and dairy products will support carotenoid market growth for the forecast period. As per FAO, animal meat production is projected to surpass 376 million tons by 2030. Carotenoids are incorporated in animal feeds to enhance the color of broiler skin, fish, egg yolks and crustaceans as poultry, fish, and shrimp. Also, the ability of carotenoids to improve fertility and support healthy body functions will further increase its penetration across animal feed segment.

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Carotenoids Market is fragmented in nature due to the presence of international and regional players. Key industry players include BASF, DSM, Chr. Hansen, FMC Corporation, Dohler Group, Lycored, Kemin Industries, Inc, and Cyanotech Corporation. Other prominent players in the market include Divis Laboratories, Allied Biotech Corporation, D.D. Williamson & Co., Inc, and Naturex. New product development, R&D investment, mergers & acquisitions, portfolio expansion, and strategic collaborations are among the key strategies adopted by the industry participants for elevating their market share. For instance, in July 2011, DSM announced the acquisition of Vitatene SAU intending to expand its market share in the natural carotenoid segment.

Carotenoids Market is driven by strong R&D investment and new product developments. This has prompted research towards microbial generation as a means of obtaining a better yield. Expansion of production facilities and product innovations are boosting overall industry growth. Technological advancements in synthetic engineering will support market growth as it can reduce the production cost of synthetically derived products. Carotenoids not only act as a vital precursor to amino acids but also has antioxidant and colouring properties thereby driving product demand. Also, expansion of various end-use industries including food & beverage, pharmaceutical, cosmetics, dietary supplement, and animal feed will further boost overall industry share.

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Asia Pacific is expected to witness the growth of more than 4.5% by 2024. Increasing prevalence of chronic disease and rising awareness regarding benefits of carotenoids will foster the market size. Changing climatic scenario owing to global warming will drive cosmetic application growth. The surge in the consumption of animal meat and dairy products will further provide a positive outlook for segment growth. Also, favourable policies regarding synthetically derived products will further influence regional growth for the forecast period.

Europe accounted for over 40% market share in 2015. Presence of key manufacturers of cosmetic products such as Loreal, Unilever, Henkel, and Beiersdorf is anticipated to support segment growth. Extensive R&D investment for new product development will further fuel market expansion in this region. For instance, BASF launched the next generation of carotenoid formulations Lucantin NXT in the European Union. Also, increasing demand for health supplements among the geriatric population will promote business expansion.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making.

These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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07 June 2019, Global carotenoids market is expected to witness a massive growth with a staggering CAGR in the forecast period. Carotenoids are basically organic pigments that are majorly found in numerous microorganisms, algae, some animal species and plants. They generally give out some bright colors like red, orange and yellow to protect all these species from all the external harmful properties of air and light. These days, carotenoids are more commercially feasible now due to the recombinant DNA technology and rich advancements in biotechnology.

It is observed that there has been a tremendous rise in the demand for natural and organic food as health inferences and its sustainability has suddenly started increasing. Health-conscious people have started consuming carotenoid supplements. These two major factors are aiding the carotenoids market to grow massively.

But there are some health risks that are associated with the carotenoid products. Excessive unregulated utilization of these products can lead to health destructions and this is eventually impeding the market’s development. But these days, carotenoids are being used to treat various diseases such as diabetes, cancer, aging and eye disorders, and this is why consumers have started preferring carotenoids. This factor will help the carotenoids market to grow significantly in the forthcoming years.

The market is segmented on the basis of source (natural, synthetic), product (beta-carotene, lutein, lycopene, astaxanthin, zeaxanthin and canthaxanthin), application (food, supplements, feed, pharmaceuticals, cosmetics) and region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa)

Considering the product insights, beta-carotene has been dominating the overall industry and will continue to grow in the near future as well. The market size will stimulate in future as beta-carotenes are used as antioxidants and colorants. It also acts a rich source of vitamin A in food, cosmetics and medicines.

Looking at the insights of the sources, synthetic sources have been generating a lot of dominance on the overall industry. But the market has taken a drastic twist and now the natural sources are anticipated to witness a tremendous growth in the near future as there is huge awareness among consumers regarding health benefits and advantages of natural products.

Europe and North America hold most of the carotenoids industry yet Asia Pacific is an emerging market and is predicted to show significant growth in the forthcoming years as well. Due to the change in lifestyle and food consumption among consumers, the carotenoids market in Asia Pacific has been experiencing major growth. Followed with this, South America, is also likely to be a part of growing industry.

Some of the major key players of the carotenoids market are Royal DSM N.V., FMC Corporation, Doehler Group, EID Parry, ExcelVite, Allied Biotech, BASF, Cyanotech Corporation, Farbest Brands, Guangzhou Leader Bio-Technology, Chr. Hansen, Algatechnologies, Kemin Industries, DDW The Color House and AquaCarotene. All the leading companies are including mergers and acquisitions, partnerships and joint ventures to enhance the growth of the market efficiently.

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Global Natural Carotenoids market size will increase to Million US$ by 2025, from Million US$ in 2017, at a CAGR of during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Natural Carotenoids.

This report researches the worldwide Natural Carotenoids market size (value, capacity, production and consumption) in key regions like United States, Europe, China, Japan and other regions.

This study categorizes the global Natural Carotenoids breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

This report focuses on the top manufacturers' Natural Carotenoids capacity, production, value, price and market share of Natural Carotenoids in global market. The following manufacturers are covered in this report:

• DSM
• BASF
• Allied Biotech
• Chenguang Biotech
• FMC
• Dohler
• Chr. Hansen
• Carotech
• DDW
• Excelvite
• Anhui Wisdom
• Tian Yin
• Kemin

Natural Carotenoids Breakdown Data by Type

• Astaxanthin
• Beta-Carotene
• Canthaxanthin
• Lycopene
• Lutein
• Others

Natural Carotenoids Breakdown Data by Application

• Food
• Feed
• Pharmaceuticals
• Cosmetics

Natural Carotenoids Production Breakdown Data by Region

• United States
• Europe
• China
• Japan
• Other Regions

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Carotenoids Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024

Global Carotenoids Market: By Source (Natural, Synthetic), By Technology (Manually Operated Inhalers, Digitally Operated Inhalers), By Type (Beta-carotene, Astaxanthin, Canthaxanthin, Zeaxanthin, Lutein, Lycopene, Annatto, Others), By Applications (Food & Beverages, Animal Feed, Pharmaceuticals, Cosmetics, Dietary Supplements), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024

Global carotenoids market was valued at US $ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 and 2024

Market Outline: Carotenoids Market

Carotenoids are the organic pigments, which are also called as the tetraterpenoids. Carotenoids belong to the class of phytonutrients. They are generally produced by the plants and algae, various bacteria and fungi and in some species of animals such as aphids and spider mites. The carotenoids are responsible for the red, yellow and orange hues in various fruits and vegetables. Carotenoids have the anti-inflammatory properties which help in the improvement of the immune system and also has the capability of preventing cardiovascular diseases. Carotenoids also have the cancer-fighting properties. Carotenoids act as the antioxidants and present in various fruits and vegetables such as mangoes, oranges, papaya, spinach, tomatoes, bell peppers and many others.

Market Dynamics: Carotenoids Market

Increase in the prevalence of chronic conditions such as eye disorders, cancer and diabetes are the key factors anticipating the drive the growth of the carotenoids market. The growing health disorders such as nutrition deficiency and obesity and increasing health concerns are likely to drive the growth of the carotenoids market. The antioxidant property of the carotenoids is helpful in both the pharmaceutical industry as well as the cosmetic industry which is boosting the growth of the market. The higher cost involved in the production and the low yield of the carotenoid is likely to hamper the growth of the carotenoids market.

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Market Scope: Carotenoids Market

Carotenoids market is segmented based on the source, type, and application.

Based on the source, the market is segmented into the following:

• Natural
• Synthetic

Based on the type, the market is segmented into the following:

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

Based on the application, the market is segmented into the following:

• Food & Beverages
• Animal Feed
• Pharmaceuticals
• Cosmetics
• Dietary Supplements

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Regional Analysis:  Carotenoids Market

Geographically, global carotenoids market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America carotenoids market is dominant when compared with other regional markets. The changing lifestyles is majorly influencing the growth of the market. The growing health consciousness and owing to its use in the cosmetic industry, the carotenoids are gaining popularity in this region. Following North America are the regions of Europe and Asia Pacific. The Asia Pacific region is expected to grow at significant rate over the forecast period due its technological advancements and the economic growth. The presence of major players in this region is also adding fuel to the growth of the carotenoids market in the region.

Competition Assessment: Carotenoids Market

Some of the players in the global carotenoids market include:

• Williamson (U.S)
• DSM Nutritional Products (Netherlands)
• Allied Biotech (Taiwan)
• Naturex SA (France)
• Kemin Industries (U.S)
• Brenntag (Germany)
• ExcelVite Sdn. Bhd (Malaysia)
• Cyanotech Corp (U.S)

Notable Market Developments: Carotenoids Market

• In February 2018, KnipBio has developed SCP strain to produce astaxanthin for aqua feed.

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Key Features of the Report:

• The report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa)
• The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
• The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
• The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
• The report tracks recent innovations, key developments and startup’s details that are actively working in the market
• The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenario
• The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

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