According to the latest report by IMARC Group, titled “Carotenoids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global carotenoids market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 4% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Carotenoids refer to the organic pigments that are responsible for bright red, orange, and yellow hues in several vegetables and fruits. They are a class of phytonutrients or plant chemicals that are found in the cells of various fungi, algae, bacteria, etc. Some of the major natural sources of carotenoids include papayas, pineapples, pumpkins, apricots, carrots, oranges, etc. Some widely utilized carotenoids are alpha and beta carotene, beta-cryptoxanthin, lutein, zeaxanthin, lycopene, etc., which are added as colorants in cosmetic, food, and animal feed products. Carotenoids assist in treating cancer, enhancing vision, supporting physical growth and development, etc. As a result, they are extensively utilized in animal feed, dietary supplements, beverages, etc.
The growing incidences of cancer and ophthalmic disorders are among the key factors driving the carotenoids market. Moreover, the increasing product utilization in dietary supplements is further catalyzing the market growth. Apart from this, the shifting preferences towards preventive healthcare products, which can act as antioxidants and protect the body from numerous chronic diseases, cellular damage, premature aging, etc., are also augmenting the global market. Furthermore, the elevating usage of carotenoids in animal nutrition and feed products to enhance the fertility and overall immunity of the livestock is acting as another significant growth-inducing factor. In addition to this, the inflating demand for natural colorants across industries is projected to fuel the carotenoids market over the forecasted period.
Carotenoids Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global carotenoids market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Allied Biotech Corporation
- BASF SE
- Hansen Holding A/S
- Cyanotech Corporation
- DDW The Color House
- Deinove SAS
- Divi’s Laboratories Limited
- Döhler Group
- Excelvite Sdn. Bhd.
- Kemin Industries
- Lycored Limited
- Naturex SA (Givaudan SA)
- Vidya Europe SAS
- Zhejiang NHU Co. Ltd.
Key Market Segmentation:
The report has segmented the global carotenoids market on the basis of product type, source, formulation, application and region.
Breakup by Product Type:
Breakup by Source:
Breakup by Formulation:
- Oil Suspension
Breakup by Application:
- Animal Feed
- Dietary Supplements
- Food and Beverages
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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