In 2019, the global carotenoids market value is estimated to be valued at US$ 1.73 Bn. In addition, the global carotenoids market volume is estimated to be at 1,750 metric tons in 2019. This is primarily driven by growing demand for additives and dyes in food & beverage and animal feed segments. Animal feed segment currently accounts for the largest revenue share of 45.3%, followed by food and beverages segment with 37.4%. The adoption of carotenoids in dietary supplement market is anticipated to register significant growth rate during the forecast period. This is primarily due to various growing awareness of health benefits associated with carotenoids as they are basically beneficial antioxidants that can improve immune function, eye health, etc.
Synthetic carotenoids currently dominate the global market and is estimated to be valued at US$ 1.3 Bn in 2019. However, natural carotenoids is anticipated to register significant growth over the next five years, due to growing preference for organic and natural plant-based products. Various companies are focusing on R&D activities in order to introduce new varieties of novel products that cater to wide application base.
Global Carotenoids Market Regional Analysis:
In 2019, Europe carotenoids market currently dominates the global market with over 41.2% revenue share followed by the market in North America with 26.9%.
Asia Pacific carotenoids market is estimated to be valued at US$ 401.4 Mn in 2019 and is projected to register the highest growth rate during the forecast period.
Global Top 10 Carotenoids Manufacturers Analysis, Insights, and Trends:
BASF SE and Koninklijke DSM N.V. collectively is estimated to account for over 50% revenue share of the global market in 2019. Key players in the ecosystem focus on introducing new products in order to cater to growing demand for carotenoids in segments such as food and beverage, pharmaceuticals, and animal feed.
- In March 2019, Kemin Industries launched ‘Organic KEM GLO’ to its carotenoids range of products in order to cater to egg producers. This product will aid egg producers to intensify the color of the yolk.
- In November 2018, Deinove SAS announced plans to develop a new carotenoid for cosmetic applications
- In August 2018, BASF SE launched ‘Lucantin NXT’ in the EU 28 market replacing its ethoxyquin (EQ) as stabilizer
The top 10 global carotenoids companies in 2019 are:
- BASF SE
- Koninklijke DSM N.V.
- Archer Daniels Midland Company
- Hansen Holding A/S
- Cyanotech Corporation
- Naturex SA
- Cyanotech Corporation
- Adama Agricultural Solutions Ltd.
- FMC Corporation
- DDW, The Color House
By Product Type:
- Food and Beverages
- Dietary Supplement
- Animal Feed
What Will You Discover in the Report?
- An in-depth analysis of the carotenoids market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the carotenoids market revenue is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the carotenoids market in near future
- Which current and upcoming technologies will shape up the carotenoids market?
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the carotenoids industry during the forecast period
- Who are the carotenoids industry leaders and what are the key initiatives taken by them for long term growth?
- Industry exclusive use cases
Who will benefit from the Report?
- Carotenoids Manufacturers
- Distributors and Suppliers
- Raw Material Providers
- Consultants and Analysts
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