(Food-Beverage-News.Com, September 18, 2018 ) Industry Outlook and Trend Analysis The Carotenoids Market was worth USD 1.15 billion in 2014 and is expected to reach approximately USD 1.59 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.69% during the forecast period. The development is by virtue of its rising use in different applications including animal feed, pharmaceuticals, dietary supplements, food, and cosmetics. Expanding demand for natural and healthy food alongside supplement usage because of rising medical problems is probably going to goad development. Carotenoids are natural pigments that are found in different plants and life forms. These products are useful as antioxidants and ensure the body against chronic ailments, cell damage, and the impacts of aging.
Product Outlook and Trend Analysis Beta-carotenes ruled the general business and represented 24% of the worldwide volume share in 2015. Beta-carotenes are used as a colorant, antioxidant, and go about as a rich source of vitamin A in feed, food, dietary supplements, medicines, and cosmetics, which thusly, will empower market measure. Astaxanthin is anticipated to witness significant development over the gauge time frame inferable from its expanding use in creature encourage human antioxidants, animal feed ingredients, and for the colouring of trout, shrimps, and salmon.
Source Outlook and Trend Analysis Synthetic sources ruled the general business esteemed at USD 903.6 million in 2015. The fragment is anticipated to witness moderate development over the figure time frame by virtue of developing customer inclination for normally sourced products. Natural sources are anticipated to witness substantial volume and income development over the gauge time frame. Regular sources incorporate plant leaves, fruits, flowers, fish flesh, crustacean shells, and bird feathers. Developing customer awareness in regards to medical advantages and the points of interest related with common products is foreseen to fuel industry request over the conjecture time frame.
Application Outlook and Trend Analysis Animal feed was the conspicuous portion and represented 41% of the general income share in 2015. Animals need carotenoids as their bodies can't deliver these fundamental supplements; thusly, these supplements are added to animal feed as they give invulnerability against ailments, which thus, will drive development over the figure time frame.
Regional Outlook and Trend Analysis Asia Pacific is anticipated to reflect high picks up by virtue of developing usage of these added substances in food, feed, cosmetic, supplement, and pharmaceutical applications. The business is foreseen to be driven by innovative progressions, modern development, monetary development, and low expenses of production in nations, for example, India, China, and Japan.
Competitive Insights The leading players in the market are ExcelVite Sdn. Bhd, Allied Biotechnology India Pvt Ltd, DDW The Color House, Naturex, Cyanotech Corporation, DSM, BASF, Brenntag, Chr. Hansen and Kemin Industries. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
By Product: Beta-carotene Lycopene Zeaxanthin Lutein Astaxanthin Canthaxanthin Others
By Application: Supplements Pharmaceuticals Food Feed Cosmetics
By Region North America The U.S. Canada Mexico Europe Germany UK France Russia Italy Rest of Europe Asia-Pacific China Japan South Korea India Southeast Asia Rest of Asia-Pacific South America Brazil Argentina Columbia South Africa Rest of South America The Middle East and Africa Saudi Arabia UAE Egypt Nigeria South Africa Rest of MEA
Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
