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Carotenoids Market by Product Source and Application - Global Opportunity Analysis and Industry Forecast, 2018-2025

  • ID: 4621194
  • Report
  • Region: Global
  • 266 pages
  • Allied Analytics LLP
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Carotenoids, also called as tetraterpenoids, are plant pigments composed of 40 carbon atoms per molecule. They can also be obtained from algae, bacteria, fungi, animal fat, or can be produced synthetically. Animals are generally incapable of synthesizing carotenoids and need a dietary intake of plant products to meet their daily requirements. In animal nutrition, colors come from the animal diet and are mostly linked with the presence of carotenoids. With the ongoing optimization of animal nutrition, they are included in the feed as a part of the nutrients, which support animal health and product quality. Owing to their large presence, carotenoids are some of the earliest studied phytochemicals, which have a wide range of functions from optical enhancement within the eye to immunomodulatory and antioxidant functions. Various health benefits associated with carotenoids has led to its increased applications, which includes animal feed, human food, dietary supplement, and others such as cosmetics, pharmaceuticals, and aquaculture.

Carotenoids, as a preventive healthcare and nutraceuticals, have led to its higher consumption in human food and dietary supplement. They offers several health benefits, which include cancer prevention, anti-inflammatory, and immune system benefits and are sometimes associated with cardiovascular disease prevention. Carotenoids are powerful antioxidant substances, which play an essential role in the neutralization reaction of free radicals. Thus, the antioxidant properties of carotenoids increase their application in cosmetics. Moreover, increase in demand for natural colors in food processing, beverages, and cosmetic industry is anticipated to open new avenues for carotenoids manufacturers. However, stringent regulation on use of carotenoids in human food, threats of adulteration, and higher cost of naturally sourced carotenoids as compared to synthetic carotenoids are expected to hamper the market growth.

In 2017, Europe accounted for the highest market share and is anticipated to dominate the market during the forecast period. Asia-Pacific is projected to grow at the highest CAGR from 2018 to 2025 owing to higher adoption of carotenoids in Indian and Indonesian food and beverage industry.

The global carotenoids market is segmented based on product, source, application, and region. Based on product, the market is divided into astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others. Based on source, the market is bifurcated into natural and synthetic. Based on application, the market is classified into animal feed, human food, dietary supplement, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major players analyzed in this report are BASF SE, Koninklijke DSM N.V., Chr. Hansen A/S, FMC Corporation, Cyanotech Corporation, Kemin Industries Inc., DDW The Colour House, Döhler Group, Allied Biotech Corporation, and Excelvite.

KEY BENEFITS FOR STAKEHOLDERS

This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global carotenoids market from 2017 to 2025 to identify the prevailing market opportunities.
The key countries in all the major regions are mapped based on their market share.
Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

KEY MARKET SEGMENTS

By Product

Astaxanthin
Capsanthin
Lutein
Beta-carotene
Lycopene
Others

By Source

Natural
Synthetic

By Application

Animal Feed
Human Food
Dietary Supplement
Others

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Indonesia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Saudi Arabia
Rest of LAMEA

Note: Product cover images may vary from those shown
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CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key finding of the study
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pocket
3.2.2. Top winning strategies
3.2.3. Top winning strategies, by year, 2015-2017
3.2.4. Top winning strategies, by development, 2015-2017 (%)
3.2.5. Top winning strategies, by company, 2015-2017
3.3. Porter's five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyer
3.3.3. Thereat of new entrants
3.3.4. Threat of substitute
3.3.5. Intensity of competitive rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Increasing demand for dietary supplements from older population
3.4.1.2. Growing end-user applications
3.4.1.3. Rising Demand for natural colorants
3.4.2. Restraints
3.4.2.1. Stringent regulatory and approval norms
3.4.3. Opportunities
3.4.3.1. Increasing use of carotenoid in aquaculture
3.5. Top player positioning

CHAPTER 4: CAROTENOIDS MARKET, BY PRODUCT
4.1. Overview
4.1.1. Market size and forecast
4.2. Astaxanthin
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.2.3. Market analysis by country
4.3. Capsanthin
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.3.3. Market analysis by country
4.4. Lutein
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
4.4.3. Market analysis by country
4.5. Beta-carotene
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast
4.5.3. Market analysis by country
4.6. Lycopene
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast
4.6.3. Market analysis by country
4.7. Others
4.7.1. Key market trends, growth factors, and opportunities
4.7.2. Market size and forecast
4.7.3. Market analysis by country

CHAPTER 5: CAROTENOIDS MARKET, BY SOURCE
5.1. Overview
5.1.1. Market size and forecast
5.2. Natural
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.2.3. Market analysis by country
5.3. Synthetic
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
5.3.3. Market analysis by country

CHAPTER 6: CAROTENOIDS MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Animal feed
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.2.3. Market analysis by country
6.3. Human Food
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast
6.3.3. Market analysis by country
6.4. Dietary Supplement
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast
6.4.3. Market analysis by country
6.5. Others
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast
6.5.3. Market analysis by country

CHAPTER 7: CAROTENOIDS MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by Product
7.2.3. Market size and forecast, by Source
7.2.4. Market size and forecast, by Application
7.2.5. Market size and forecast, by country
7.2.6. U.S.
7.2.6.1. Market size and forecast, by Product
7.2.6.2. Market size and forecast, by Source
7.2.6.3. Market size and forecast, by Application
7.2.7. Canada
7.2.7.1. Market size and forecast, by Product
7.2.7.2. Market size and forecast, by Source
7.2.7.3. Market size and forecast, by Application
7.2.8. Mexico
7.2.8.1. Market size and forecast, by Product
7.2.8.2. Market size and forecast, by Source
7.2.8.3. Market size and forecast, by Application
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by Product
7.3.3. Market size and forecast, by Source
7.3.4. Market size and forecast, by Application
7.3.5. Market size and forecast, by country
7.3.6. UK
7.3.6.1. Market size and forecast, by Product
7.3.6.2. Market size and forecast, by Source
7.3.6.3. Market size and forecast, by Application
7.3.7. Germany
7.3.7.1. Market size and forecast, by Product
7.3.7.2. Market size and forecast, by Source
7.3.7.3. Market size and forecast, by Application
7.3.8. France
7.3.8.1. Market size and forecast, by Product
7.3.8.2. Market size and forecast, by Source
7.3.8.3. Market size and forecast, by Application
7.3.9. Italy
7.3.9.1. Market size and forecast, by Product
7.3.9.2. Market size and forecast, by Source
7.3.9.3. Market size and forecast, by Application
7.3.10. Spain
7.3.10.1. Market size and forecast, by Product
7.3.10.2. Market size and forecast, by Source
7.3.10.3. Market size and forecast, by Application
7.3.11. Rest of Europe
7.3.11.1. Market size and forecast, by Product
7.3.11.2. Market size and forecast, by Source
7.3.11.3. Market size and forecast, by Application
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by Product
7.4.3. Market size and forecast, by Source
7.4.4. Market size and forecast, by Application
7.4.5. Market size and forecast, by country
7.4.6. China
7.4.6.1. Market size and forecast, by Product
7.4.6.2. Market size and forecast, by Source
7.4.6.3. Market size and forecast, by Application
7.4.7. India
7.4.7.1. Market size and forecast, by Product
7.4.7.2. Market size and forecast, by Source
7.4.7.3. Market size and forecast, by Application
7.4.8. Japan
7.4.8.1. Market size and forecast, by Product
7.4.8.2. Market size and forecast, by Source
7.4.8.3. Market size and forecast, by Application
7.4.9. Indonesia
7.4.9.1. Market size and forecast, by Product
7.4.9.2. Market size and forecast, by Source
7.4.9.3. Market size and forecast, by Application
7.4.10. South Korea
7.4.10.1. Market size and forecast, by Product
7.4.10.2. Market size and forecast, by Source
7.4.10.3. Market size and forecast, by Application
7.4.11. Rest of Asia-Pacific
7.4.11.1. Market size and forecast, by Product
7.4.11.2. Market size and forecast, by Source
7.4.11.3. Market size and forecast, by Application
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by Product
7.5.3. Market size and forecast, by Source
7.5.4. Market size and forecast, by Application
7.5.5. Market size and forecast, by country
7.5.6. Brazil
7.5.6.1. Market size and forecast, by Product
7.5.6.2. Market size and forecast, by Source
7.5.6.3. Market size and forecast, by Application
7.5.7. Argentina
7.5.7.1. Market size and forecast, by Product
7.5.7.2. Market size and forecast, by Source
7.5.7.3. Market size and forecast, by Application
7.5.8. South Africa
7.5.8.1. Market size and forecast, by Product
7.5.8.2. Market size and forecast, by Source
7.5.8.3. Market size and forecast, by Application
7.5.9. Saudi Arabia
7.5.9.1. Market size and forecast, by Product
7.5.9.2. Market size and forecast, by Source
7.5.9.3. Market size and forecast, by Application
7.5.10. Rest of LAMEA
7.5.10.1. Market size and forecast, by Product
7.5.10.2. Market size and forecast, by Source
7.5.10.3. Market size and forecast, by Application

CHAPTER 8: COMPANY PROFILES
8.1. BASF SE (BASF Corporation)
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Business performance
8.1.6. Key strategic moves and developments
8.2. Koninklijke DSM N.V.
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves and developments
8.3. Chr. Hansen Holding A/S
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Business performance
8.3.6. Key strategic moves and developments
8.4. Divis Laboratories Ltd.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance
8.4.6. Key strategic moves and developments
8.5. Cyanotech Corporation
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Business performance
8.6. Kemin Industries, Inc.
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Key strategic moves and developments
8.7. DDW The Colour House
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Key strategic moves and developments
8.8. Dhler Group
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.9. Allied Biotech Corporation
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.10. ExcelVite
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Key strategic moves and developments
Note: Product cover images may vary from those shown
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According to a new report titled, Carotenoids Market by Product, Source, and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025 the global carotenoids market was valued at $1,577 million in 2017 and is projected to reach $2,098 million by 2025, registering a CAGR of 3.6% from 2018 to 2025. In 2017, the animal feed segment accounted for about two-fifths share of the global market in terms of value.

Carotenoids are plant-based organic pigments responsible for bright red, yellow, orange, and other hues. These are obtained from algae, bacteria, fungi, animal fat or can be produced synthetically. They are characterized chemically by a long aliphatic polyene chain composed of eight isoprene units. Astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others such as canthaxanthin, annatto, and zeaxanthin are the major carotenoids, which are available commercially.

The health benefits of carotenoids in human food are becoming increasingly noticeable in the past few years, thus preventing several major health disorders. Higher dietary intake of carotenoids also helps the body to rejuvenate by promoting the growth of healthy cells and impede the growth of unhealthy ones. This has led to the greater consumption of carotenoids in human food, thus driving the market growth.

In 2017, animal feed application segment accounted for the highest market share in the global carotenoids market and is anticipated to remain dominant during the forecast period. Animals require carotenoids as their bodies cannot produce these essential nutrients. Thus, carotenoids are added to animal feed as they provide immunity against diseases, which in turn, is anticipated to drive the growth of the market during the forecast period. Moreover, increase in demand for natural colors in food processing, beverages, and cosmetics industry is anticipated to open new avenues for carotenoids manufacturers. However, stringent regulations on use of carotenoids in human food, threats of adulteration, and higher cost of naturally sourced carotenoids as compared to synthetic carotenoids are projected to hamper the market growth.

Key Findings of the Carotenoids Market:

In 2017, Europe accounted for the highest market share, growing at a CAGR of 3.7% from 2018 to 2025.
In 2017, animal feed application segment accounted for the highest market share and is expected to growth at the highest CAGR of 3.7%.
Astaxanthin accounted for the highest market share in 2017 in terms of value and is projected to grow at a significant CAGR of 3.5%.
In 2017, synthetic source of carotenoids accounted for the highest market share growing at a CAGR of 3.2%.
In 2017, the U.S. accounted for a prominent market share and is anticipated to grow at a significant CAGR of 3.2%.
India is anticipated to grow at the highest CAGR of 5.6% from 2018 to 2025.

In terms of value, Asia-Pacific and LAMEA collectively contributed more than one-third share in the global market in 2017.

Some of the major players analyzed in this report are BASF SE, Koninklijke DSM N.V., Chr. Hansen A/S, FMC Corporation, Cyanotech Corporation, Kemin Industries Inc., DDW The Colour House, Dhler Group, Allied Biotech Corporation, and Excelvite.

Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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