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Carotenoids: Global Strategic Business Report

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    Report

  • 214 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1946770

Global Carotenoids Market to Reach $4.2 Billion by 2030

The global market for Carotenoids estimated at US$3.1 Billion in the year 2022, is projected to reach a revised size of US$4.2 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2022-2030. Beta-Carotene, one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$1.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Astaxanthin segment is readjusted to a revised 3.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $857.7 Million, While China is Forecast to Grow at 6.5% CAGR

The Carotenoids market in the U.S. is estimated at US$857.7 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$874.3 Million by the year 2030 trailing a CAGR of 6.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 3.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$558.6 Million by the year 2030.

Select Competitors (Total 83 Featured) -

  • Algatechnologies Ltd.
  • Allied Biotech Corporation
  • BASF SE
  • Chr. Hansen Holding A/S
  • Cyanotech Corporation
  • DDW The Colour House
  • Döhler Group
  • Dow Inc.
  • ExcelVite Sdn Bhd
  • Kemin Industries Inc.
  • Lycored Ltd.
  • Royal DSM N.V.
  • Sensient Technologies Corporation
  • Valensa International LLC

What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Carotenoids: Essential Role in Colorants and Food & Feed Supplements
  • List of Major Carotenoids and Their Key Functions
  • Recent Market Activity
  • Steady Growth Projected Over the Next Few Years
  • Developed Regions Remain the Prime Revenue Contributors
  • Developing Regions to Spearhead Future Market Growth
  • Stable Economic Scenario Improves Market Prospects in the Short-term
  • Natural Carotenoids Rapidly Gaining over Synthetic Carotenoids
  • Competitive Landscape
  • Intense Competition Marks Carotenoids Market
  • Chinese and Indian Companies Gain Prominence on Production Front
  • Carotenoids - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Algatechnologies, Ltd. (Israel)
  • Allied Biotech Corporation (Taiwan)
  • BASF SE (Germany)
  • Chr. Hansen Holding A/S (Denmark)
  • Cyanotech Corporation (USA)
  • DDW The Colour House (USA)
  • Döhler Group (Germany)
  • DowDuPont Inc. (USA)
  • ExcelVite Sdn Bhd (Malaysia)
  • Kemin Industries, Inc. (USA)
  • Lycored Ltd. (Israel)
  • Royal DSM N.V. (The Netherlands)
  • Sensient Technologies Corporation (USA)
  • Valensa International, LLC (USA)
3. MARKET TRENDS & DRIVERS
  • Trends & Developments in Product Markets
  • Astaxanthin: A High-Value Product with Application in Food & Feed Industries
  • Beta-Carotene: The Largest Carotenoid Product Category
  • Canthaxanthin - Contracting Sales Characterize Market
  • Capsanthin - Emerging as a Key Compound for Red Coloring
  • Lutein - Falling Prices Characterize Market
  • Annatto - Sustained Demand for Natural Colors in Dairy Products Spurs Growth
  • Lycopene Goes Beyond Traditional End-Use Markets
  • Zeaxanthin - Significant Role in Eye Health
  • Increasing Demand for Animal Feed to Fuel Carotenoids Market
  • Food & Food Supplements Market - Significant Potential for Growth
  • Carotenoids of Marine Origin: Natural Colorants Used in Dietary Supplements and Fortified Foods
  • Improving Consumer Awareness to Boost Carotenoids Demand in Food Supplements Market
  • Carotenoids - A Key Ingredient of the High-Performance Functional Beverage Category
  • Food Companies Keen on Licensing Carotenoid-Producing Probiotics
  • Carotenoids Emerge as a Potential Cure for Cancers, Diabetes and Eye Disorders
  • Study Demonstrates Support for Carotenoids Role in Reducing Risk of AMD
  • Focus on Cancer Prevention & Management - Carotenoids Come into Play
  • Diabetes Epidemic - Carotenoids Gain Prominence in Reducing Risk Levels
  • Carotenoids Help Lower Risk of Cardiovascular Diseases
  • Personal Care & Cosmeceuticals - An Emerging Market Opportunity
  • Increasing Carotenoid Intake with Bio-fortified Crops
  • Favorable Demographic & Socio-Economic Factors Enhance Market Prospects
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Carotenoids by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 2: World Historic Review for Carotenoids by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 3: World 16-Year Perspective for Carotenoids by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Beta-Carotene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 5: World Historic Review for Beta-Carotene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 6: World 16-Year Perspective for Beta-Carotene by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Lutein by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 8: World Historic Review for Lutein by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 9: World 16-Year Perspective for Lutein by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Astaxanthin by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 11: World Historic Review for Astaxanthin by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 12: World 16-Year Perspective for Astaxanthin by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Canthaxanthin by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 14: World Historic Review for Canthaxanthin by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 15: World 16-Year Perspective for Canthaxanthin by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Lycopene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 17: World Historic Review for Lycopene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 18: World 16-Year Perspective for Lycopene by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 20: World Historic Review for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 21: World 16-Year Perspective for Other Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Animal Feed by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 23: World Historic Review for Animal Feed by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 24: World 16-Year Perspective for Animal Feed by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Food & Beverages by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 26: World Historic Review for Food & Beverages by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 27: World 16-Year Perspective for Food & Beverages by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Dietary Supplements by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 29: World Historic Review for Dietary Supplements by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 30: World 16-Year Perspective for Dietary Supplements by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 31: World Recent Past, Current & Future Analysis for Cosmetics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 32: World Historic Review for Cosmetics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 33: World 16-Year Perspective for Cosmetics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 34: World Recent Past, Current & Future Analysis for Pharmaceuticals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 35: World Historic Review for Pharmaceuticals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 36: World 16-Year Perspective for Pharmaceuticals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 37: World Carotenoids Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
CANADA
JAPAN
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
CHINA
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
EUROPE
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
FRANCE
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
GERMANY
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
ITALY
UNITED KINGDOM
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
AUSTRALIA
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
INDIA
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Carotenoids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Algatechnologies Ltd.
  • Allied Biotech Corporation
  • BASF SE
  • Chr. Hansen Holding A/S
  • Cyanotech Corporation
  • DDW The Colour House
  • Döhler Group
  • Dow Inc.
  • ExcelVite Sdn Bhd
  • Kemin Industries Inc.
  • Lycored Ltd.
  • Royal DSM N.V.
  • Sensient Technologies Corporation
  • Valensa International LLC

Table Information