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The global carotenoids market was valued at USD 1.90 billion in 2022 and growing at a CAGR of 4.50% from 2023 to 2032. The market is expected to reach USD 2.95 billion by 2032. Carotenoids are a group of fat-soluble plant pigments with intense colors like red, orange, and yellow. Carotenoids are found in all organisms that derive energy from the sun, including plants and bacteria. Their antioxidant effects allow these compounds to play a critical role in protecting organisms against damage during photosynthesis.
Carotenoids are plant pigments responsible for many fruits and vegetables' bright red, yellow, and orange colors. These pigments play a significant part in plant well-being. Individuals who eat food containing carotenoids get protective medical advantages too. Carotenoids also act as cancer prevention agents in the human body. They have solid disease-battling properties, as per the Physicians Committee for Responsible Medicine. The body converts some carotenoids completely to vitamin A, which is fundamental for vision and typical development and improvement. Carotenoids additionally have anti-inflammatory and immune system benefits and are, in some cases, related to cardiovascular disease prevention. Eating carotenoid-rich food sources can safeguard the solid cells in the eye and forestall the development of cancer cells. One of the main sources of visual impairment is macular degeneration, or the degeneration of the focal point of the retina. Long-haul blue light openness can cause this and adversely influence the fragile pieces of the eye. In any case, the carotenoids lutein and zeaxanthin found in the retina can help to absorb blue light. Carotenoids are antioxidants that reduce body inflammation. Carotenoids have been related with bringing down cancer risk, mainly lung cancer.
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Growing Health Consciousness- Carotenoids, like beta-carotene, lutein, and zeaxanthin, are known for their cancer prevention agent properties. Antioxidants assist in neutralizing free radicals in the body, which are related to ageing and different sicknesses, including cancer growth. As individuals become health-conscious, they look for products that give natural antioxidants, and carotenoid-rich foods and supplements fulfil this demand. Carotenoids add to skin well-being by acting as natural pigments and providing protection against UV radiation. Consumers interested in maintaining healthy and radiant skin may seek products containing carotenoids or use skincare products that incorporate these compounds. As preventative health measures gain importance, consumers are more likely to incorporate carotenoid-rich foods into their diets or use supplements to address specific health concerns or reduce the risk of certain diseases.
Strict Regulatory Standards- Carotenoids utilized in food and different items should comply with regulatory standards set by government agencies. The approval process for new ingredients or utilizing existing ingredients in novel ways can be time-consuming. Delays in obtaining regulatory approval can ruin the presentation of new carotenoid-based products to the market. Regulatory standards are dependent upon future developments, and new guidelines might be presented. Sudden changes in guidelines can surprise organizations, expecting them to adjust rapidly or face disturbances in their activities. This uncertainty may prevent investment and innovation in the carotenoids market.
Expanding Cosmetic Industry- Carotenoids, being natural colors, are progressively utilized in beauty care products as natural colorants. They give a range of colors from yellow to red and can be utilized to replace synthetic colorants. With the rising buyer inclination for natural and organic cosmetic products, carotenoids offer a plant-based alternative for accomplishing energetic and engaging tones in beauty care products. Carotenoids, like beta-carotene and lutein, have antioxidant properties that are advantageous for skin well-being. These compounds help neutralize free radicals, potentially reducing oxidative stress and contributing to anti-ageing effects. As consumers seek skincare products with added functional benefits, carotenoid-rich formulations may find increased demand.
Limited Awareness-Lack of awareness about the health benefits and applications of carotenoids might bring about low consumer demand for items containing these compounds. Consumers are more likely to choose products they understand and perceive as beneficial to their health. Educating consumers about carotenoid sources, types, and health benefits is essential for building trust and fostering interest in carotenoid-rich products. Organizations might find it trying to advertise items containing carotenoids if purchasers are curious about the mixtures. Growing clear and persuasive marketing messages that pass on the offer of carotenoids can be more troublesome without any earlier information among the ideal interest group.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe emerged as the largest market for the global carotenoids market, with a 39.98% share of the market revenue in 2022.
With rising revenue, Europe will hold the largest market share. There is a rising customer inclination for natural and clean-label ingredients. Carotenoids, being normal color, are pursued for their medical advantages and as shading specialists in food items. Carotenoids are widely used as natural colorants in the food and beverage industry. They impart vibrant colors to a range of products, including beverages, confectionery, dairy products, and processed foods.
Europe Region Carotenoids Market Share in 2022 - 39.98%
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The type segment is divided into Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin and Others. The Astaxanthin segment dominated the market, with a market share of 25.68% in 2022. Astaxanthin is a naturally occurring carotenoid pigment that belongs to the xanthophyll family. It is known for its vibrant red-orange color and is found in various marine organisms, microalgae, and some fungi. Astaxanthin is especially remarkable for its strong antioxidant properties and is generally connected with a few medical advantages.
The form segment is divided into beadlets, powder, liquid and gel. The beadlets segment dominated the market, with a market share of 35.68% in 2022. Beadlets are a type of carotenoid encapsulation that involves embedding carotenoid compounds into small, bead-like structures. Carotenoids are natural pigments widely distributed in nature and are liable for the red, orange, and yellow colors found in many fruits and vegetables. They are known for their antioxidant properties and potential health benefits.
The source segment is divided into synthetic and natural. The synthetic segment dominated the market, with a market share of 68.24% in 2022. Synthetic carotenoids can be created through compound combination or by utilizing biotechnological strategies. Common synthetic carotenoids include astaxanthin, beta-carotene, and canthaxanthin. These synthetic forms are designed to replicate the structural characteristics of their natural counterparts.
The application segment is divided into feed, food & beverages. dietary supplements, cosmetics and pharmaceuticals. The feed segment dominated the market, with a market share of 35.28% in 2022. Carotenoids are utilized in animal feed for several reasons, essentially to improve the coloration of certain animal products and give potential medical advantages. The addition of carotenoids can impact the flavour of feed, making it more interesting to creatures. This can be significant for ensuring that creatures consume a sufficient and adjusted diet.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 1.90 Billion |
| Market size value in 2032 | USD 2.95 Billion |
| CAGR (2023 to 2032) | 4.50% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Type, Form, Source, Application |
As per The Brainy Insights, the size of the carotenoids market was valued at USD 1.90 billion in 2022 to USD 2.95 billion by 2032.
The global carotenoids market is growing at a CAGR of 4.50% during the forecast period 2023-2032.
The Europe region emerged as the largest market for the carotenoids.
The growing health consciousness will influence the market's growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Type
4.3.2. Market Attractiveness Analysis By Form
4.3.3. Market Attractiveness Analysis By Source
4.3.4. Market Attractiveness Analysis By Application
4.3.5. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Growing Health Consciousness
5.3. Restraints
5.3.1. Strict Regulatory Standards
5.4. Opportunities
5.4.1. Expanding Cosmetic Industry
5.5. Challenges
5.5.1. Limited Awareness
6. Global Carotenoids Market Analysis and Forecast, By Type
6.1. Segment Overview
6.2. Astaxanthin
6.3. Beta-carotene
6.4. Lutein
6.5. Lycopene
6.6. Canthaxanthin
6.7. Zeaxanthin
6.8. Others
7. Global Carotenoids Market Analysis and Forecast, By Form
7.1. Segment Overview
7.2. Beadlets
7.3. Powder
7.4. Liquid
7.5. Gel
8. Global Carotenoids Market Analysis and Forecast, By Source
8.1. Segment Overview
8.2. Synthetic
8.3. Natural
9. Global Carotenoids Market Analysis and Forecast, By Application
9.1. Segment Overview
9.2. Feed
9.3. Food & Beverages
9.4. Dietary Supplements
9.5. Cosmetics
9.6. Pharmaceuticals
10. Global Carotenoids Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Carotenoids Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in the Carotenoids Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Product Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. Allied Biotech Corporation
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. Algatech Ltd.
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. BASF SE
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Kemin Industries
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Chr. Hansen Holdings A/S
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. DDW The Color House
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. DOHLER GmbH
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. FMC Corporation
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Novus International Inc.
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Sensient Technologies
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
List of Table
1. Global Carotenoids Market, By Type, 2019-2032 (USD Billion)
2. Global Astaxanthin Carotenoids Market, By Region, 2019-2032 (USD Billion)
3. Global Beta-carotene Carotenoids Market, By Region, 2019-2032 (USD Billion)
4. Global Lutein Carotenoids Market, By Region, 2019-2032 (USD Billion)
5. Global Lycopene Carotenoids Market, By Region, 2019-2032 (USD Billion)
6. Global Canthaxanthin Carotenoids Market, By Region, 2019-2032 (USD Billion)
7. Global Zeaxanthin Carotenoids Market, By Region, 2019-2032 (USD Billion)
8. Global Others Carotenoids Market, By Region, 2019-2032 (USD Billion)
9. Global Carotenoids Market, By Form, 2019-2032 (USD Billion)
10. Global Beadlets Carotenoids Market, By Region, 2019-2032 (USD Billion)
11. Global Powder Carotenoids Market, By Region, 2019-2032 (USD Billion)
12. Global Liquid Carotenoids Market, By Region, 2019-2032 (USD Billion)
13. Global Gel Carotenoids Market, By Region, 2019-2032 (USD Billion)
14. Global Carotenoids Market, By Source, 2019-2032 (USD Billion)
15. Global Synthetic Carotenoids Market, By Region, 2019-2032 (USD Billion)
16. Global Natural Carotenoids Market, By Region, 2019-2032 (USD Billion)
17. Global Carotenoids Market, By Application, 2019-2032 (USD Billion)
18. Global Feed Carotenoids Market, By Region, 2019-2032 (USD Billion)
19. Global Food & Beverages Carotenoids Market, By Region, 2019-2032 (USD Billion)
20. Global Dietary Supplements Carotenoids Market, By Region, 2019-2032 (USD Billion)
21. Global Cosmetics Carotenoids Market, By Region, 2019-2032 (USD Billion)
22. Global Pharmaceuticals Carotenoids Market, By Region, 2019-2032 (USD Billion)
23. Global Carotenoids Market, By Region, 2019-2032 (USD Billion)
24. North America Carotenoids Market, By Type, 2019-2032 (USD Billion)
25. North America Carotenoids Market, By Form, 2019-2032 (USD Billion)
26. North America Carotenoids Market, By Source, 2019-2032 (USD Billion)
27. North America Carotenoids Market, By Application, 2019-2032 (USD Billion)
28. U.S. Carotenoids Market, By Type, 2019-2032 (USD Billion)
29. U.S. Carotenoids Market, By Form, 2019-2032 (USD Billion)
30. U.S. Carotenoids Market, By Source, 2019-2032 (USD Billion)
31. U.S. Carotenoids Market, By Application, 2019-2032 (USD Billion)
32. Canada Carotenoids Market, By Type, 2019-2032 (USD Billion)
33. Canada Carotenoids Market, By Form, 2019-2032 (USD Billion)
34. Canada Carotenoids Market, By Source, 2019-2032 (USD Billion)
35. Canada Carotenoids Market, By Application, 2019-2032 (USD Billion)
36. Mexico Carotenoids Market, By Type, 2019-2032 (USD Billion)
37. Mexico Carotenoids Market, By Form, 2019-2032 (USD Billion)
38. Mexico Carotenoids Market, By Source, 2019-2032 (USD Billion)
39. Mexico Carotenoids Market, By Application, 2019-2032 (USD Billion)
40. Europe Carotenoids Market, By Type, 2019-2032 (USD Billion)
41. Europe Carotenoids Market, By Form, 2019-2032 (USD Billion)
42. Europe Carotenoids Market, By Source, 2019-2032 (USD Billion)
43. Europe Carotenoids Market, By Application, 2019-2032 (USD Billion)
44. Germany Carotenoids Market, By Type, 2019-2032 (USD Billion)
45. Germany Carotenoids Market, By Form, 2019-2032 (USD Billion)
46. Germany Carotenoids Market, By Source, 2019-2032 (USD Billion)
47. Germany Carotenoids Market, By Application, 2019-2032 (USD Billion)
48. France Carotenoids Market, By Type, 2019-2032 (USD Billion)
49. France Carotenoids Market, By Form, 2019-2032 (USD Billion)
50. France Carotenoids Market, By Source, 2019-2032 (USD Billion)
51. France Carotenoids Market, By Application, 2019-2032 (USD Billion)
52. U.K. Carotenoids Market, By Type, 2019-2032 (USD Billion)
53. U.K. Carotenoids Market, By Form, 2019-2032 (USD Billion)
54. U.K. Carotenoids Market, By Source, 2019-2032 (USD Billion)
55. U.K. Carotenoids Market, By Application, 2019-2032 (USD Billion)
56. Italy Carotenoids Market, By Type, 2019-2032 (USD Billion)
57. Italy Carotenoids Market, By Form, 2019-2032 (USD Billion)
58. Italy Carotenoids Market, By Source, 2019-2032 (USD Billion)
59. Italy Carotenoids Market, By Application, 2019-2032 (USD Billion)
60. Spain Carotenoids Market, By Type, 2019-2032 (USD Billion)
61. Spain Carotenoids Market, By Form, 2019-2032 (USD Billion)
62. Spain Carotenoids Market, By Source, 2019-2032 (USD Billion)
63. Spain Carotenoids Market, By Application, 2019-2032 (USD Billion)
64. Asia Pacific Carotenoids Market, By Type, 2019-2032 (USD Billion)
65. Asia Pacific Carotenoids Market, By Form, 2019-2032 (USD Billion)
66. Asia Pacific Carotenoids Market, By Source, 2019-2032 (USD Billion)
67. Asia Pacific Carotenoids Market, By Application, 2019-2032 (USD Billion)
68. Japan Carotenoids Market, By Type, 2019-2032 (USD Billion)
69. Japan Carotenoids Market, By Form, 2019-2032 (USD Billion)
70. Japan Carotenoids Market, By Source, 2019-2032 (USD Billion)
71. Japan Carotenoids Market, By Application, 2019-2032 (USD Billion)
72. China Carotenoids Market, By Type, 2019-2032 (USD Billion)
73. China Carotenoids Market, By Form, 2019-2032 (USD Billion)
74. China Carotenoids Market, By Source, 2019-2032 (USD Billion)
75. China Carotenoids Market, By Application, 2019-2032 (USD Billion)
76. India Carotenoids Market, By Type, 2019-2032 (USD Billion)
77. India Carotenoids Market, By Form, 2019-2032 (USD Billion)
78. India Carotenoids Market, By Source, 2019-2032 (USD Billion)
79. India Carotenoids Market, By Application, 2019-2032 (USD Billion)
80. South America Carotenoids Market, By Type, 2019-2032 (USD Billion)
81. South America Carotenoids Market, By Form, 2019-2032 (USD Billion)
82. South America Carotenoids Market, By Source, 2019-2032 (USD Billion)
83. South America Carotenoids Market, By Application, 2019-2032 (USD Billion)
84. Brazil Carotenoids Market, By Type, 2019-2032 (USD Billion)
85. Brazil Carotenoids Market, By Form, 2019-2032 (USD Billion)
86. Brazil Carotenoids Market, By Source, 2019-2032 (USD Billion)
87. Brazil Carotenoids Market, By Application, 2019-2032 (USD Billion)
88. Middle East and Africa Carotenoids Market, By Type, 2019-2032 (USD Billion)
89. Middle East and Africa Carotenoids Market, By Form, 2019-2032 (USD Billion)
90. Middle East and Africa Carotenoids Market, By Source, 2019-2032 (USD Billion)
91. Middle East and Africa Carotenoids Market, By Application, 2019-2032 (USD Billion)
92. UAE Carotenoids Market, By Type, 2019-2032 (USD Billion)
93. UAE Carotenoids Market, By Form, 2019-2032 (USD Billion)
94. UAE Carotenoids Market, By Source, 2019-2032 (USD Billion)
95. UAE Carotenoids Market, By Application, 2019-2032 (USD Billion)
96. South Africa Carotenoids Market, By Type, 2019-2032 (USD Billion)
97. South Africa Carotenoids Market, By Form, 2019-2032 (USD Billion)
98. South Africa Carotenoids Market, By Source, 2019-2032 (USD Billion)
99. South Africa Carotenoids Market, By Application, 2019-2032 (USD Billion)
List of Figures
1. Global Carotenoids Market Segmentation
2. Carotenoids Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Carotenoids Market Attractiveness Analysis By Type
9. Global Carotenoids Market Attractiveness Analysis By Form
10. Global Carotenoids Market Attractiveness Analysis By Source
11. Global Carotenoids Market Attractiveness Analysis By Application
12. Global Carotenoids Market Attractiveness Analysis by Region
13. Global Carotenoids Market: Dynamics
14. Global Carotenoids Market Share By Type (2022 & 2032)
15. Global Carotenoids Market Share By Form (2022 & 2032)
16. Global Carotenoids Market Share By Source (2022 & 2032)
17. Global Carotenoids Market Share By Application (2022 & 2032)
18. Global Carotenoids Market Share by Regions (2022 & 2032)
19. Global Carotenoids Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global carotenoids market based on below-mentioned segments:
Global Carotenoids Market by Type:
Global Carotenoids Market by Form:
Global Carotenoids Market by Source:
Global Carotenoids Market by Application:
Global Carotenoids Market by Region:
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