Carotenoids Market to Grow at 4.5% CAGR Through 2030

Carotenoids Market Values

The Carotenoids Market was valued at approximately USD 1.8 billion in 2023 and is projected to grow significantly over the forecast period. With a compound annual growth rate (CAGR) of around 4.9%, the market is expected to reach nearly USD 2.6 billion by 2030. This growth is driven by the increasing demand for natural food colorants, rising awareness about the health benefits of carotenoids as antioxidants, and their expanding use in dietary supplements, pharmaceuticals, and cosmetics. As consumers increasingly seek out natural and health-promoting ingredients, the carotenoids market is set to experience steady expansion across multiple industries.

Carotenoids Market Overview

Maximize Market Research, a leading international business consultancy firm, has released its highly anticipated ” Carotenoids Market” Report, providing crucial insights into the market’s potential in the Asia Pacific region. Despite economic challenges post the Covid lockdown period, the market has showcased resilience and an upward trend. The report positions the Asia Pacific region as a lucrative opportunity for Carotenoids market and its component manufacturers over the next decade.

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Carotenoids Market Scope

Import and export consumption, supply and demand chain, costs, shares, sales volumes, revenues, and gross profits are covered in the Carotenoids market analysis report. The manufacturing bases, capacity, production, factory prices, revenues, and market share of each manufacturer in the Carotenoids market are examined in the report.

Carotenoids Market Segmentation

by Type

Astaxanthin
Beta-carotene
Lutein
Lycopene
Canthaxanthin
Zeaxanthin
Other types
Capsanthin
Annatto
Alpha-carotene
Apocarotenal

Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Other varieties (capsanthin, annatto, alpha-carotene, and apocarotenal) are the different segments of the carotenoids market based on type. Right now, astaxanthin and beta-carotene are the most popular, and there is a tremendous demand for their carotenoids on the market.
by Application

Feed
Food & beverages
Dietary supplements
Cosmetics
Pharmaceuticals

The Carotenoids market is divided into five segments based on application: feed, food and beverage, dietary supplements, cosmetics, and pharmaceuticals. Because of their coloring properties, carotenoids are frequently used in animal feed products for fish, shrimp, and poultry. Thus, the most common application for this product is in animal feed. The color of egg yolks, broiler skin, fish, and crustaceans is enhanced and improved when the chemical is added externally to their diet.
by Formulations

Oil suspension
Powder
Beadlet
Emulsion

The market for carotenoids has been divided into the following segments based on formulations: oil suspension, powder, beadlet, and emulsion. The beadlet segment is anticipated to lead the carotenoids market over the forecast period. Spray drying produces free-flowing, spherical particles known as carotenoid beadlets. They are frequently kept cold and dry, away from heat, light, and oxygen, and wrapped in aluminum foil. Beadlet formulations also offer better stability, cold water dispersion, and extended shelf life, among other noteworthy benefits.
by Source

Natural
Synthetic

The market for carotenoids is divided into Natural and Synthetic segments according on Source. Because they are inexpensive and simple to extract, synthetic sources currently account for a large portion of the carotenoids market revenue share. But as customers gravitate toward food, cosmetics, and pharmaceuticals along with other products made with natural materials, the need for pigments derived from natural sources is growing. Given the quick changes in consumer preferences and the constant increase in demand for organic products, the market is anticipated to develop at a significant compound annual growth rate (CAGR) over the projection period.

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Carotenoids Market Key Players

Major Global Key Players:
1. Zhejiang NHU Co. Ltd. (China) – Global
2. Algatechnologies Ltd. (Israel) – Global
3. Chr. Hansen Holding A/S (Denmark) – Global
Leading Key Players in North America:
1. DSM Nutritional Products, LLC (USA)
2. BASF Corporation (USA)
3. Kemin Industries, Inc. (USA)
4. FMC Corporation (USA)
5. DDW The Colour House (USA) – North America
6. Novus International Inc. (USA) – North America
7. Sensient Technologies Corporation (USA) – North America
8. Novus International Inc. (USA) – North America
9. Cyanotech Corporation (USA) – North America
Market Follower key Players in Europe:
1. BASF SE(Germany) – Global
2. Naturex SA (Givaudan SA) (France)
3. Lycored Limited (Israel)
4. Döhler Group (Germany) – Europe
5. Deinove SAS (France) – Europe
Prominent Key player Asia Pacific:
1. Kemin Industries, Inc. (USA)
2. Vidya Europe SAS (France) – Europe
3. Excelvite (Malaysia) – Asia-Pacific
4. Divi’s Laboratories Limited (India) – Asia-Pacific
5. Allied Biotech Corporation (Taiwan) – Asia-Pacific
6. Synthite Industries Ltd. (India) – Asia-Pacific
7. Zhejiang NHU Co. Ltd. (China) – Asia-Pacific

Table of content for the Carotenoids Market includes:

Part 01: Executive Summary

Part 02: Scope of the Carotenoids Market Report

Part 03: Carotenoids Market Landscape

Part 04: Carotenoids Market Sizing

Part 05: Carotenoids Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Analysis

The Carotenoids market report comprises an extensive analysis of the Carotenoids industry across five primary world regions are Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. It delves into the market’s key geographies and highlights notable segments and sub-segments within the industry.

Key Questions answered in the Carotenoids Market Report are:

What is Carotenoids Market?
What is the forecast period of the Carotenoids Market?
What is the competitive scenario of the Carotenoids market?
Which region held the largest market share in the Carotenoids Market?
What are the opportunities for the Carotenoids Market?
What are the restraining factors in the Carotenoids market?
Who are the key players of the Carotenoids market?

Key offerings:

Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation: A detailed analysis by Carotenoids
Landscape- Leading key players and other prominent key players.

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