Global Carotenoids Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027

Global Carotenoids Market Overview:

“The global Carotenoids Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global carotenoids market report has been segmented on the basis of type, application, method of production, formulation type, and region.

Carotenoids are phytonutrients which help to fight against radical damage and offers various antioxidants to ward off disease and lower inflammation.

They have antioxidant properties which helps in blocking formation of oxidative stress, which is a primary cause of aging and degeneration.

Carotenoids travel through lipoproteins along with cholesterol and other fats, that makes them beneficial for protecting arteries against blockages, radical damage, and inflammation.

Higher consumption of carotenoid is associated with improvements in several biomarkers that help in strong immune function.

Carotenoids also hold properties such as anti-inflammatory, antitumor, chemo protective which help in prevention from infections, illnesses, and serious diseases like cancer.

Dynamics:

Increasing adoption of carotenoids in wide variety of applications including food, animal feed, dietary supplements, pharmaceuticals, and cosmetics is a major factor expected to support growth of the global market.

In addition, increasing demand for healthy & natural food and growing supplement consumption, owing to rising health issues are some other factors expected to support growth of the global market to certain extent.

Furthermore, increasing demand form pharmaceutical sector for medicinal preparation as carotenoids antioxidants property aids in protection of body against chronic diseases, cellular damage, and effects of aging is another factor expected to support growth of the target market over the forecast period.

Moreover, changing consumption pattern and rising health issues across the globe is resulting in increasing adoption of carotenoids product in dietary supplements is another factor expected to boost growth of the market.

However, high dosage of carotenoids resulting in harmful side effects is a major factor expected to hamper growth of the target market. In addition, stringent government regulations related to product approval is another factor expected to challenge growth of the market to certain extent.

Technological advancements and increasing R&D activities for development new novel products is expected to create new opportunities in terms of revenue for players operating the target market over the forecast period. In addition, growing merger and acquisition activities among regional and international players is expected to further boost growth of the global market.

Region Analysis:

The market in North America is expected to dominate the global market and is expected to continue its dominance over the forecast period.

This can be attributed to growing demand from food and pharmaceutical sector and presence of major players operating in the economies in this region.

The market in Europe is expected to contribute significant revenue share to the global market. The market in Asia Pacific is expected to witness faster growth, owing to growing pharmaceutical sector and increasing government expenditure on R&D activates.

Global Carotenoids Market Segmentation:

By Type:

• Astaxanthin
• Beta-carotene
• Lutein
• Lycopene
• Canthaxanthin
• Zeaxanthin
• Others (annatto, capsanthin, fucoxanthin, and trans-β-apo-8'-carotenal)

By Application:

• Feed
• Food
• Supplements
• Cosmetics
• Pharmaceuticals

By Method of Production:

• Chemical synthesis
• Extraction from botanical material
• Fermentation
• Algae route

By Formulation Type: 

• Oil suspensions
• Beadlets
• Powders
• Emulsions

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa