Global Carotenoids Market By Source (Synthetic Carotenoids Vs Natural Carotenoids), By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, and Zeaxanthin, Others), By Application, By Formulation, By Region, Forecast & Opportunities, 2025

The Global Carotenoids Market is expected to grow at a steady CAGR during the forecast period. The Global Carotenoids Market is driven by the increased product demand from various end-user industries such as the pharmaceutical industry, cosmetic industry, among others. Moreover, growing awareness among the consumers regarding the benefits of consumption of healthy food is anticipated to positively impact the growth of the market during the forecast years. Also, increase in research and developmental activities is further expected to bolster the growth of market over the next few years.

The Global Carotenoids Market is segmented based on source, type, application, formulation, company and region. Based on type, the market can be categorized into astaxanthin, beta-carotene, lutein, lycopene, canthaxanthin, and zeaxanthin and others. Out of these, the lutein segment dominated the market in terms of largest market share during 2019 and is expected to maintain its leading position the market during the forecast years as well. This can be ascribed to its use in both, human nutrition as well as animal nutrition products. Moreover, it is widely acceptable on account of its capability to treat age-related eye disorders such as cataracts and macular degeneration. This is estimated to contribute to the growing size of the segment over the coming years. The beta-carotene segment is forecast to grow at a high pace during the next five years on account of its use as a colorant and antioxidant. Moreover, it also acts as a rich source of vitamin A in food, feed, dietary supplements, cosmetics, and medicines, which is anticipated to positively influence the growth of segment over the coming years.

Major players operating in the Global Carotenoids Market include Koninklijke DSM, BASF, Chr. Hansen, Cyanotech Corporation, Allied Biotech Corporation, Lycored Limited, Kemin Industries, Fuji Chemical Industry Co Ltd., Novus International, Döhler Group, Excelvite Sdn. Bhd., DDW the Color House, Farbest Brands, Algatechnologies Ltd., Zhejiang NHU Co. Ltd., E.I.D. Parry, Divi’s Laboratories, Dynadis SARL, Vidya Europe SAS, einove SAS and others. The companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions, partnership, agreements, and new developments.

Years considered for this report:

• Historical Years: 2015-2018
• Base Year: 2019
• Estimated Year: 2020
• Forecast Period: 2021–2025

Objective of the Study:

• To analyze and estimate the market size of the Global Carotenoids Market from 2015 to 2018.
• To estimate and forecast the market size of the Global Carotenoids Market from 2019 to 2025 and growth rate until 2025.
• To classify and forecast the Global Carotenoids Market based on source, type, application, formulation, company and regional distribution.
• To identify dominant region or segment in the Global Carotenoids Market.
• To identify drivers and challenges for the Global Carotenoids Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Carotenoids Market.
• To conduct pricing analysis for the Global Carotenoids Market.
• To identify and analyze the profile of leading players operating in the Global Carotenoids Market.
• To identify key sustainable strategies adopted by market players in the Global Carotenoids Market.

The author performed both primary as well as exhaustive secondary research for this study. Initially, researchers sourced a list of manufacturers across the globe. Subsequently, researchers conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, researchers could include the manufacturers which could not be identified due to the limitations of secondary research. The author analyzed the manufacturers, distribution channels and presence of all major players across the globe.

The author calculated the market size of the Global Carotenoids Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. They sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Carotenoids manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to carotenoids
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:
In this report, the Global Carotenoids Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Global Carotenoids Market, By Source:
• Synthetic Carotenoids
• Natural Carotenoids
• Global Carotenoids Market, By Type:
• Astaxanthin
• Beta-Carotene
• Lutein
• Lycopene
• Canthaxanthin
• Zeaxanthin
• Others
• Global Carotenoids Market, By Application:
• Feed
• Food & Beverages
• Dietary Supplements
• Cosmetics
• Pharmaceuticals
• Global Carotenoids Market, By Formulation:
• Beadlet
• Powder
• Oil Suspension
• Emulsion
• Global Carotenoids Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

• Company Profiles: Detailed analysis of the major companies present in the Global Carotenoids Market.

Available Customizations:
With the given market data, researchers offers customizations according to a company’s specific needs.