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Rising at 3.57% CAGR, the global carotenoids market is anticipated to exhibit US$ 1,848.1 Million by 2026. The market is forecast to witness considerable growth owing to the increasing use of carotenoids in various applications such as animal feed, food, cosmetics, and others. Fortune Business Insights in a new study, titled “CAROTENOIDS: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2015-2026” entails some of the carotenoids market trends and in-depth analysis over the forecast period.
The Global Carotenoids Market derives growth from applications based on antioxidant properties. According to a report by Fortune Business Insights, titled “Carotenoids Market Size, Share and Global Trend by Product Type (Beta-Carotene, Lutein, Astaxanthin, Zeaxanthin, Lycopene, Canthaxanthin), Application Type (Food and Beverages, Animal Feed, Pharmaceuticals, Cosmetics, Dietary Supplements, Other Applications), Source (Natural, Synthetic) and Geography Forecast till 2025,” the market will grow considerably in the coming years due to the high demand from diverse end-use industries.
An increasing number of health issues and rising demand for natural and healthy food together with supplement consumption is likely to favor growth in the market. Carotenoids, also referred to as tetraterpenoids are organic pigments produced by fungi, bacteria, plants, and algae. Food items such as daffodils, carrots, canaries, corn, egg yolks, buttercups, and others obtain the characteristic color due to carotenoids market.
Some of the Main Key Players Covered in the Carotenoids Market Report
Market to Derive Growth from Biotechnological Production of Carotenoids
The beta carotenoids are widely used in food, cosmetics, and feed industries. The biotechnological way of carotenoids seems to have several advantages over naturally derived substances. The germination of microorganisms has several benefits including the ability to control temperature and pH stabilities and use of biomass for extraction of carotenoids.
The biotechnological production of carotenoids will be used as an alternative to artificial pigments. The flexible nature of carotenoids can help overcome legislative and economic barriers with ease. Fortune Business Insights has predicted that biotechnological production will suffice various needs, thereby creating opportunities for the growth of the global carotenoids market in the coming years.
Players Focussing on Partnerships and Product Innovation to Expand their Presence Worldwide
Some of the leading players in the global carotenoids market are embarking on strategic partnerships, acquisitions, and other global strategies to gain carotenoids market share. New product development or product innovation, being one of the most preferred strategies. BASF launches a new carotenoid product called Lucantin NXT in August 2018. The product aims to offer long shelf-life, better stability, and high homogeneity. Recently, GacLife launches five new health beverages, containing carotenoids which provide powerful antioxidants to protect the health if a human body.
Major Table of Content for Carotenoids Market:
1. Introduction of Carotenoids Market
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Overview of the Parent/ Related Markets
4.1.1. Colorants Market
4.1.2. Dietary Supplements Market
4.1.3. Analysis on Feed and Aquaculture Industry
4.2. Supply Chain Analysis
4.3. Industry SWOT Analysis
4.4. Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers and Acquisitions
5. Global Carotenoids Market Analysis, Insights and Forecast, 2015-2026
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