IMARC Group has recently released a new research study titled “Carotenoids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the carotenoids market?
The global carotenoids market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.
What are carotenoids?
Carotenoids are a cluster of several organic pigments that produce bright yellow, red, and orange hues in fruit and vegetables. They belong to a class of phytonutrients, which is vital for plant health. It is also a rich source of antioxidants and vitamin A. Some of the natural sources of carotenoids include papaya, pumpkin, pineapple, carrot, apricot, orange, and corn. The most commonly used carotenoids include beta-cryptoxanthin, zeaxanthin, alpha and beta carotene, and lutein.
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Market Trends and Growth Drivers:
The global carotenoids market is primarily driven by the increasing use of carotenoids in the manufacturing of several dietary and pharmaceutical products. Apart from this, the rising prevalence of cancer and ophthalmic disorders and the increasing geriatric population are contributing to the market growth. Other factors, such as the shifting consumer preference toward preventive healthcare products, increasing health consciousness among the consumers, and the growing consumer demand for natural coloring, are creating a positive outlook for the market.
Who are the key players operating in the industry?
The report covers the major market players including:
- Allied Biotech Corporation
- BASF SE
- Hansen Holding A/S
- Cyanotech Corporation
- DDW The Color House
- Deinove SAS
- Divi's Laboratories Limited
- Döhler Group
- Excelvite Sdn. Bhd.
- Kemin Industries
- Lycored Limited
- Naturex SA (Givaudan SA)
- Vidya Europe SAS
- Zhejiang NHU Co. Ltd.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Beta-Carotene
- Astaxanthin
- Lutein
- Lycopene
- Zeaxanthin
- Canthaxanthin
- Others
Breakup by Source:
- Synthetic
- Natural
Breakup by Formulation:
- Oil Suspension
- Powder
- Emulsion
- Others
Breakup by Application:
- Animal Feed
- Dietary Supplements
- Food and Beverages
- Cosmetics
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Explore Ful Report Description At: https://www.imarcgroup.com/carotenoids-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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