Carotenoids Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source (Synthetic Carotenoids and Natural Carotenoids), By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, and Zeaxanthin, Others), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, and Pharmaceuticals), By Formulation (Beadlet, Powder, Oil Suspension and Emulsion), By Region and Competition, 2019-2029F

  • Industry : Agriculture
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  • Published Date : NA
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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 1.78 Billion

Market Size (2029)

USD 2.62 Billion

CAGR (2024-2029)

4.57%

Fastest Growing Segment

Synthetic Carotenoids

Largest Market

North America

Market Overview

Global Carotenoids Market was valued at USD 1.78 Billion in 2023 and is anticipated to projectsteady growth in the forecast period with a CAGR of 4.57%through 2029. Carotenoids are a group of organic pigments responsible forthe vibrant red, yellow, and orange hues found in fruits and vegetables. Thesephytonutrients play a crucial role in plant health and serve as excellentsources of vitamin A and antioxidants. Carotenoids can be naturally synthesizedby plants, algae, bacteria, and fungi, or produced synthetically. Papaya,pineapple, pumpkin, apricot, carrot, orange, and corn are among the primarynatural sources of carotenoids. Commonly used carotenoids such as alpha andbeta carotene, beta-cryptoxanthin, lutein, zeaxanthin, and lycopene are addedas colorants in food, cosmetics, and animal feed products. In humans,carotenoids contribute to cancer treatment, vision improvement, and supportphysical growth and development.

Key Market Drivers

Increasing Demand for NaturalColorants

Theglobal demand for natural colorants is on a rise, a trend largely propelled byan increased consumer preference for clean-label, nature-derived products infood, pharmaceuticals, and cosmetics. This growth in demand directly influencesthe global market for carotenoids, pigments that are naturally occurring in awide array of fruits, vegetables, and certain types of seafood. As potentantioxidants, carotenoids offer various health benefits, including boostingimmune function and eye health, which is an attractive proposition forhealth-conscious consumers. Further, the vibrant hues of carotenoids, rangingfrom yellow and orange to red, make them highly sought after as naturalcolorants in the food and beverage industry, especially considering the mountingconsumer aversion to synthetic additives. In the cosmetic industry, theirantioxidant properties are valued for skin care products. In the pharmaceuticalsector, carotenoids are utilized due to their health benefits. Thismultifaceted utility drives the global demand for carotenoids. As consumerscontinue to seek natural and beneficial ingredients, the demand for carotenoidsis expected to surge, in line with the growing demand for natural colorants.

Growing Use in Animal Feed toImprove Livestock Health

Theescalating demand for carotenoids globally can be attributed to their growinguse in animal feed to improve livestock health. Carotenoids, natural pigmentsfound in numerous plants and algae, are revered for their substantial healthbenefits, including boosting immune response and reducing diseasesusceptibility. In the livestock industry, incorporating carotenoids into thediet of animals is becoming increasingly common. They are used to enhance meatquality by improving its color and to bolster the overall health andproductivity of livestock. The rise in global meat consumption, coupled withthe growing cognizance of the link between diet and health, is driving thedemand for high-quality animal products. As consumers become morehealth-conscious, the pressure on livestock farmers to produce healthy,high-quality meat is intensifying. Consequently, the use of carotenoids inanimal feed is expected to increase. In addition, the need for sustainable andefficient animal rearing practices is pushing the envelope for innovative feedingredients such as carotenoids. As these trends continue, the demand forcarotenoids in animal feed is predicted to grow significantly, contributing tothe overall upswing in their global demand.

SurgingDemand in Nutraceuticals

Theglobal surge in demand for nutraceuticals is expected to significantly drivethe demand for carotenoids. Nutraceuticals, food or food-based productsproviding health and medicinal benefits, are gaining popularity for their rolesin disease prevention and health advancement. One of the critical components ofmany nutraceuticals is carotenoids, organic pigments found primarily in plants,algae, and some bacteria and fungi. Carotenoids are recognized for theirantioxidant properties and potential benefits in reducing the risk of chronicdiseases. As consumers become more health-conscious, the appeal ofnutraceuticals fortified with carotenoids is growing, contributing to anelevated global demand. In addition, advancements in biotechnology andagriculture are making the production of carotenoids more efficient andsustainable, meeting the increasing demand without compromising theenvironment. This trend reflects a broader shift towards natural and functionalingredients in the food industry as part of a more holistic approach to healthand well-being. Consequently, the carotenoids market is poised for robustgrowth, fueled by the escalating demand in the nutraceuticals sector.

Advancementsin Extraction Technologies

Advancementsin extraction technologies are expected to significantly bolster the globaldemand for carotenoids, compounds revered for their antioxidant properties andextensive use in food, cosmetics, and pharmaceutical industries. Noveltechniques such as supercritical fluid extraction and subcritical waterextraction are paving the way for efficient harvest of these valuable pigmentsfrom plant and microbial sources, thereby increasing their availability andreducing costs. These advanced extraction methods are environmentallyfriendly, aligning with the rising global emphasis on sustainable practices.They eliminate the need for harmful solvents, reducing ecological footprint,and can efficiently extract carotenoids from waste materials, adding a layer ofresource optimization.

The advancements in technology also enable precise extraction and isolation ofspecific types of carotenoids, fostering their use in targeted applications.For instance, lycopene's potential in preventing certain types of cancers isunder investigation, fueling its demand. In the era of health and wellness, theconsumer's preference towards natural and functional ingredients is growing.Carotenoids, with their color imparting and health-contributing abilities, fitwell into this trend. As extraction technologies continue to progress, enablinga wider and more cost-effective availability of carotenoids, their globaldemand is anticipated to rise dramatically.


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Key Market Challenges

High Processing Cost

Highprocessing costs significantly influence the global demand for carotenoids.Primarily, carotenoids are meticulously derived from various natural resourceslike algae, fruits, vegetables, and microbial fermentation. The extractionprocess is complex, requiring advanced technology and significant energy,leading to high cost. The purification and stabilization of thesecompounds enhance the overall processing cost. As a result, the final productbecomes expensive, discouraging consumption and decreasing demand, particularlyin cost-sensitive markets. Emerging economies, where the potential for marketgrowth is high, are particularly affected by this issue. In these regions,consumers are price-sensitive, and the high cost of carotenoids limits theirability to become mainstream consumers. The cost factor alsodiscourages potential new entrants, thereby limiting market competition andinnovation. As long as the processing cost remains high, it creates a barrierto widespread adoption of carotenoids, not just for end consumers but also formanufacturers and suppliers across the globe. Nonetheless, advancements inprocessing technology and the exploration of cheaper raw materials couldpotentially ease the high processing cost, stabilizing the carotenoids' demandglobally.

Low Yield of Natural FoodColors

Theglobal demand for carotenoids, naturally occurring pigments found in manyfruits and vegetables, is expected to witness a decline owing to the low yieldof natural food colors. As the food industry is gravitating towards natural,'clean label' products, the pressure on manufacturers to switch to natural foodcolors, including carotenoids, has increased. However, it's a complex andchallenging process to extract these colors, leading to low yields. This isprimarily attributed to the inherent limitations of the natural sources likeinstability under certain conditions, extraction difficulties, and the effectof seasonal variations on the quality and quantity of the pigment. The process is costly, involving extensive research, development,and extraction techniques, which makes natural food colors more expensive thantheir synthetic counterparts. This, coupled with the low yield, implies ahigher production cost, making the end product less competitive in the globalmarket. The high demand for carotenoids as natural food colors hasled to concerns about the sustainability and environmental impact of theirproduction. The cultivation and extraction of carotenoids require significantresources such as land, water, and energy, which can put strain on ecosystemsand contribute to carbon emissions.

Inlight of these challenges, manufacturers and researchers are exploringalternative sources and innovative technologies to enhance the yield andefficiency of carotenoid extraction. These include advancements inbiotechnology, such as genetic engineering and fermentation, to producecarotenoids in a more sustainable and cost-effective manner. The development of novel extraction methods and purification techniques aims toovercome the limitations of traditional processes, ensuring higher yields andimproved quality. While the demand for carotenoids may potentially decrease inthe short term, the pursuit of more cost-effective and reliable alternativeswill continue to drive innovation in the food industry. As consumersincreasingly seek natural and healthier options, finding sustainable solutionsfor natural food colors remains a key priority for manufacturers andresearchers alike.

Key Market Trends

Increasing Use in DietarySupplements

Theglobal demand for carotenoids is expected to surge due to the increasingpopularity of dietary supplements. Carotenoids, organic pigments found in manyplants, are well-established for their antioxidant properties and healthbenefits, including boosting immune system function and reducing the risk ofchronic illnesses. With growing health consciousness among consumers, dietarysupplements enriched with carotenoids have been gaining traction. Thesesupplements, often available in forms such as tablets, capsules, and soft gels,offer a convenient means of fulfilling nutritional gaps in the diet. The escalating geriatric population worldwide, a demographicoften reliant on dietary supplements to manage age-related health issues, isfurther fueling the demand for carotenoid-based products. Widespreadmarketing campaigns by manufacturers, emphasizing the health benefits ofcarotenoids, are heightening consumer awareness and propelling market growth.Therefore, the combination of health awareness, convenience, and targetedmarketing is set to drive the global demand for carotenoids in the dietarysupplement industry.

Increased Demand from ThePharmaceutical Industry

Theglobal demand for carotenoids is set to witness a significant surge, drivenlargely by the pharmaceutical industry's increased appetite for these organicpigments. Carotenoids, known for their potent antioxidant properties, have beenrecognized for their potential role in preventing chronic diseases andpromoting overall health. With mounting scientific evidence, the pharmaceuticalindustry has been quick to incorporate these valuable compounds into variousproducts, ranging from dietary supplements to therapeutic drugs. The burgeoninghealth-conscious demographic, a direct result of increased awareness aboutpreventive healthcare, is further fueling this trend. This group is activelyseeking natural alternatives for maintaining health, thus propelling the demandfor carotenoid-infused pharmaceutical products. The ongoing researchto explore the full potential of carotenoids in disease prevention and healthpromotion is likely to uncover new applications, further driving demand.Factors such as the global aging population and increasing prevalence oflifestyle-related diseases also contribute towards this growing demand. As thepharmaceutical industry continues to innovate and expand its product range, thedemand for carotenoids is expected to rise correspondingly, marking a positivegrowth trajectory for the global carotenoid market.

Segmental Insights

Source Insights

Based on the Source, the global carotenoids market is predominantlydominated by synthetic carotenoids. These synthetic variants have gainedpopularity due to their cost-effectiveness, easy availability, and stability.However, as consumers become more health-conscious and aware of the benefits ofnatural products, there is a noticeable shift towards natural carotenoids. Theincreasing demand for natural carotenoids is expected to reshape the dynamicsof the market in the coming years, as consumers prioritize the use of naturalingredients in their dietary choices and seek out products that offer theutmost health benefits. This shift reflects a growing trend towardssustainability and a preference for organic, wholesome alternatives. As aresult, the market is poised to witness significant changes in both supply anddemand, with natural carotenoids poised to play a more prominent role in theindustry.

Type Insights

Based on the Type, Beta-Carotene is currently leading the GlobalCarotenoids Market due to its exceptional properties and versatileapplications. This natural pigment is extensively used in various sectors,including food and beverages, dietary supplements, and the cosmetics industry. Oneof the main reasons for Beta-Carotene's popularity is its potent antioxidantproperties, which contribute to improved health and well-being. Theseantioxidants help combat harmful free radicals in the body, reducing the riskof chronic diseases and promoting overall wellness.

Beta-Carotene's vibrant colours make it a sought-afteringredient in many products. The rich orange hue adds visual appeal andenhances the consumer experience, making it an ideal choice for food andbeverage manufacturers, dietary supplement brands, and cosmetic companies. Withits numerous benefits and extensive applications, Beta-Carotene holds aprominent position in the ever-growing Carotenoids Market. Its versatility andability to enhance both the aesthetic and functional aspects of products makeit a key player in meeting the demands of consumers worldwide.

 


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Regional Insights

The North American region has been consistentlydominating the Global Carotenoids Market for several reasons. One of the keyfactors contributing to its dominance is the high level of consumer awarenessabout the numerous health benefits that carotenoids offer. This awareness hasled to a significant increase in demand for carotenoid-rich products, such asdietary supplements, in the region. The presence of a robust andwell-established dietary supplement industry in North America further supportsthe growth of the carotenoids market. It is worth mentioning that theregion's thriving food and beverage industry also plays a crucial role indriving the demand for carotenoids. With a wide range of food and beverageproducts incorporating carotenoids for their natural color and nutritionalproperties, the North American market continues to witness a strong demand forthese compounds. Overall, the combination of high consumer awareness, thepresence of dietary supplement manufacturers, and a thriving food and beverageindustry has established North America as a dominant force in the GlobalCarotenoids Market.

Recent Developments

  • June 2023: Divi's Nutraceuticals introduced AstaBead, an innovativeproduct developed in partnership with Algalif in 2022, at IFT First 2023. Divihighlights AstaBead beadlets' exceptional performance in applications such asnutritional bars and powdered beverages.
  • November2022: DSM announced a significant collaboration with LBB Specialties for thedistribution of dietary supplements in North America. This strategicpartnership enhances customer value, opens new avenues for product development,and solidifies DSM's position as a leading supplier of vitamins, lipids,carotenoids, and nutraceuticals in the North American market.

Key Market Players

  • Koninklijke DSM N.V.
  • BASF SE
  • Chr. Hansen A/S
  • Cyanotech Corporation
  • Allied Biotech Corporation
  • Kemin Industries Inc.
  • Fuji Chemical Industry Co Ltd.
  • Novus International Inc.
  • Döhler Group
  • Sensient Colors LLC

By Source

By Type

By Application

 

By Formulation

By Region
  • Synthetic Carotenoids
  • Natural Carotenoids
  • Astaxanthin
  • Beta-Carotene
  • Lutein
  • Lycopene
  • Canthaxanthin
  • Zeaxanthin
  • Others
  • Feed
  • Food & Beverages
  • Dietary Supplements
  • Cosmetics
  • Pharmaceuticals
  • Beadlet
  • Powder
  • Oil Suspension
  • Emulsion
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, theGlobal Carotenoids Market has been segmented into the followingcategories, in addition to the industry trends which have also been detailedbelow:

·        Carotenoids Market, By Source:

o  Synthetic Carotenoids

o  Natural Carotenoids

·        Carotenoids Market, By Type:

o  Astaxanthin

o  Beta-Carotene

o  Lutein

o  Lycopene

o  Canthaxanthin

o  Zeaxanthin

o  Others

·        Carotenoids Market, By Application:

o  Feed

o  Food & Beverages

o  Dietary Supplements

o  Cosmetics

o  Pharmaceuticals

·        Carotenoids Market, By Formulation:

o  Beadlet

o  Powder

o  Oil Suspension

o  Emulsion

·        Carotenoids Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

CompanyProfiles: Detailedanalysis of the major companies present in the Global Carotenoids Market.

Available Customizations:

GlobalCarotenoids market report withthe given market data, TechSci Research offers customizations according to acompany's specific needs. The following customization options are available forthe report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Carotenoids Market is an upcoming report to be releasedsoon. If you wish an early delivery of this report or want to confirm the dateof release, please contact us at [email protected]            

Table of content

1.     Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.     Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validations

2.7.  Assumptions and Limitations

3.     Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

3.6.  Voice of Customer

4.     Global Carotenoids Market Outlook

4.1.  Market Size & Forecast

4.1.1.    By Value

4.2.  Market Share & Forecast

4.2.1.    By Source (Synthetic Carotenoids and Natural Carotenoids)

4.2.2.    By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, and Zeaxanthin, Others)

4.2.3.    By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, and Pharmaceuticals)

4.2.4.    By Formulation (Beadlet, Powder, Oil Suspension and Emulsion)

4.2.5.    By Region

4.2.6.    By Company (2023)

4.3.  Market Map

5.     North America Carotenoids Market Outlook

5.1.  Market Size & Forecast        

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Source

5.2.2.    By Type

5.2.3.    By Application

5.2.4.    By Formulation

5.2.5.    By Country

5.3.  North America: Country Analysis

5.3.1.    United States Carotenoids Market Outlook

5.3.1.1.        Market Size & Forecast

5.3.1.1.1.            By Value

5.3.1.2.        Market Share & Forecast

5.3.1.2.1.            By Source

5.3.1.2.2.            By Type

5.3.1.2.3.            By Application

5.3.1.2.4.            By Formulation

5.3.2.    Canada Carotenoids Market Outlook

5.3.2.1.        Market Size & Forecast

5.3.2.1.1.            By Value

5.3.2.2.        Market Share & Forecast

5.3.2.2.1.            By Source

5.3.2.2.2.            By Type

5.3.2.2.3.            By Application

5.3.2.2.4.            By Formulation

5.3.3.    Mexico Carotenoids Market Outlook

5.3.3.1.        Market Size & Forecast

5.3.3.1.1.            By Value

5.3.3.2.        Market Share & Forecast

5.3.3.2.1.            By Source

5.3.3.2.2.            By Type

5.3.3.2.3.            By Application

5.3.3.2.4.            By Formulation

6.     Europe Carotenoids Market Outlook

6.1.  Market Size & Forecast        

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Source

6.2.2.    By Type

6.2.3.    By Application

6.2.4.    By Formulation

6.2.5.    By Country

6.3.  Europe: Country Analysis

6.3.1.    Germany Carotenoids Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.            By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.            By Source

6.3.1.2.2.            By Type

6.3.1.2.3.            By Application

6.3.1.2.4.            By Formulation

6.3.2.    United Kingdom Carotenoids Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.            By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.            By Source

6.3.2.2.2.            By Type

6.3.2.2.3.            By Application

6.3.2.2.4.            By Formulation

6.3.3.    Italy Carotenoids Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.            By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.            By Source

6.3.3.2.2.            By Type

6.3.3.2.3.            By Application

6.3.3.2.4.            By Formulation

6.3.4.    France Carotenoids Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.            By Value

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.            By Source

6.3.4.2.2.            By Type

6.3.4.2.3.            By Application

6.3.4.2.4.            By Formulation

6.3.5.    Spain Carotenoids Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.            By Value

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.            By Source

6.3.5.2.2.            By Type

6.3.5.2.3.            By Application

6.3.5.2.4.            By Formulation

7.     Asia-Pacific Carotenoids Market Outlook

7.1.  Market Size & Forecast        

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Source

7.2.2.    By Type

7.2.3.    By Application

7.2.4.    By Formulation

7.2.5.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Carotenoids Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.            By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.            By Source

7.3.1.2.2.            By Type

7.3.1.2.3.            By Application

7.3.1.2.4.            By Formulation

7.3.2.    India Carotenoids Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.            By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.            By Source

7.3.2.2.2.            By Type

7.3.2.2.3.            By Application

7.3.2.2.4.            By Formulation

7.3.3.    Japan Carotenoids Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.            By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.            By Source

7.3.3.2.2.            By Type

7.3.3.2.3.            By Application

7.3.3.2.4.            By Formulation

7.3.4.    South Korea Carotenoids Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.            By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.            By Source

7.3.4.2.2.            By Type

7.3.4.2.3.            By Application

7.3.4.2.4.            By Formulation

7.3.5.    Australia Carotenoids Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.            By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.            By Source

7.3.5.2.2.            By Type

7.3.5.2.3.            By Application

7.3.5.2.4.            By Formulation

8.     South America Carotenoids Market Outlook

8.1.  Market Size & Forecast        

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Source

8.2.2.    By Type

8.2.3.    By Application

8.2.4.    By Formulation

8.2.5.    By Country

8.3.  South America: Country Analysis

8.3.1.    Brazil Carotenoids Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.            By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.            By Source

8.3.1.2.2.            By Type

8.3.1.2.3.            By Application

8.3.1.2.4.            By Formulation

8.3.2.    Argentina Carotenoids Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.            By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.            By Source

8.3.2.2.2.            By Type

8.3.2.2.3.            By Application

8.3.2.2.4.            By Formulation

8.3.3.    Colombia Carotenoids Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.            By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.            By Source

8.3.3.2.2.            By Type

8.3.3.2.3.            By Application

8.3.3.2.4.            By Formulation

9.     Middle East and Africa Carotenoids Market Outlook

9.1.  Market Size & Forecast        

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Source

9.2.2.    By Type

9.2.3.    By Application

9.2.4.    By Formulation

9.2.5.    By Country

9.3.  MEA: Country Analysis

9.3.1.    South Africa Carotenoids Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.            By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.            By Source

9.3.1.2.2.            By Type

9.3.1.2.3.            By Application

9.3.1.2.4.            By Formulation

9.3.2.    Saudi Arabia Carotenoids Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.            By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.            By Source

9.3.2.2.2.            By Type

9.3.2.2.3.            By Application

9.3.2.2.4.            By Formulation

9.3.3.    UAE Carotenoids Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.            By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.            By Source

9.3.3.2.2.            By Type

9.3.3.2.3.            By Application

9.3.3.2.4.            By Formulation

10.  Market Dynamics

10.1.             Drivers

10.2.             Challenges

11.  Market Trends & Developments

11.1.             Recent Development

11.2.             Mergers & Acquisitions

11.3.             Product Launches

12.  Global Carotenoids Market: SWOT Analysis

13.  Porter’s Five Forces Analysis

13.1.             Competition in the Industry

13.2.             Potential of New Entrants

13.3.             Power of Suppliers

13.4.             Power of Customers

13.5.             Threat of Substitute Products

14.  Competitive Landscape

14.1.             Koninklijke DSM N.V.

14.1.1. Business Overview

14.1.2. Company Snapshot

14.1.3. Products & Services

14.1.4. Financials (As Reported)

14.1.5. Recent Developments

14.1.6. Key Personnel Details

14.1.7. SWOT Analysis

14.2.             BASF SE

14.3.             Chr. Hansen A/S

14.4.             Cyanotech Corporation

14.5.             Allied Biotech Corporation

14.6.             Kemin Industries Inc.

14.7.             Fuji Chemical Industry Co Ltd.

14.8.             Novus International Inc.

14.9.             Döhler Group

14.10.           Sensient Colors LLC

15.  Strategic Recommendations

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Carotenoids Market was estimated to be USD 1.78 Billion in 2023.

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Beta-Carotene leads the global Carotenoids Market due to its wide applications in food, beverages, supplements, and cosmetics. Its antioxidant properties promote health, while vibrant colors enhance consumer experience. A versatile and beneficial ingredient, Beta-Carotene plays a crucial role in the growing Carotenoids Market.

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The North American region leads the Global Carotenoids Market, driven by consumer awareness of the health benefits and the presence of dietary supplement manufacturers. The well-established food and beverage industry in the region further boosts the demand for carotenoids.

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Increasing demand for natural colorants and growing use in animal feed to improve livestock health are the major drivers for the Global Carotenoids Market.

Related Reports

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Sakshi Bajaal

Business Consultant
Press Release

Carotenoids Market to Grow with a CAGR of 4.57% through 2029

May, 2024

Surging demand in nutraceuticals and advancements in extraction technologies is expected to drive the Global Carotenoids Market growth in the forecast period, 2025-2029

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