(Food-Beverage-News.Com, June 11, 2018 ) Global carotenoids market was valued at US $ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 and 2024
Market Outline: Carotenoids Market Carotenoids are the organic pigments, which are also called as the tetraterpenoids. Carotenoids belong to the class of phytonutrients. They are generally produced by the plants and algae, various bacteria and fungi and in some species of animals such as aphids and spider mites. The carotenoids are responsible for the red, yellow and orange hues in various fruits and vegetables. Carotenoids have the anti-inflammatory properties which help in the improvement of the immune system and also has the capability of preventing cardiovascular diseases. Carotenoids also have the cancer-fighting properties. Carotenoids act as the antioxidants and present in various fruits and vegetables such as mangoes, oranges, papaya, spinach, tomatoes, bell peppers and many others.
Market Dynamics: Carotenoids Market Increase in the prevalence of chronic conditions such as eye disorders, cancer and diabetes are the key factors anticipating the drive the growth of the carotenoids market. The growing health disorders such as nutrition deficiency and obesity and increasing health concerns are likely to drive the growth of the carotenoids market. The antioxidant property of the carotenoids is helpful in both the pharmaceutical industry as well as the cosmetic industry which is boosting the growth of the market. The higher cost involved in the production and the low yield of the carotenoid is likely to hamper the growth of the carotenoids market.
Market Scope: Carotenoids Market Carotenoids market is segmented based on the source, type, and application. Based on the source, the market is segmented into the following: • Natural • Synthetic Based on the type, the market is segmented into the following: • Beta-carotene • Astaxanthin • Canthaxanthin • Zeaxanthin • Lutein • Lycopene • Annatto • Others Based on the application, the market is segmented into the following: • Food & Beverages • Animal Feed • Pharmaceuticals • Cosmetics • Dietary Supplements
Regional Analysis: Carotenoids Market Geographically, global carotenoids market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America carotenoids market is dominant when compared with other regional markets. The changing lifestyles is majorly influencing the growth of the market. The growing health consciousness and owing to its use in the cosmetic industry, the carotenoids are gaining popularity in this region. Following North America are the regions of Europe and Asia Pacific. The Asia Pacific region is expected to grow at significant rate over the forecast period due its technological advancements and the economic growth. The presence of major players in this region is also adding fuel to the growth of the carotenoids market in the region.
Competition Assessment: Carotenoids Market Some of the players in the global carotenoids market include: • D. Williamson (U.S) • DSM Nutritional Products (Netherlands) • Allied Biotech (Taiwan) • Naturex SA (France) • Kemin Industries (U.S) • Brenntag (Germany) • ExcelVite Sdn. Bhd (Malaysia) • Cyanotech Corp (U.S)
Notable Market Developments: Carotenoids Market • In February 2018, KnipBio has developed SCP strain to produce astaxanthin for aqua feed.
Key Features of the Report: • The report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa) • The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024) • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market • The report tracks recent innovations, key developments and startup’s details that are actively working in the market • The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenario • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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