Carotenoids Market: 4.3% CAGR Forecast By The End Of 2028| Allied Biotech, BASF SE, Dohler GmbH

Market Overview:
The Carotenoids market was valued at USD 1.63 billion in 2021 and is expected to reach USD 2.19 billion by the year 2028, at a CAGR of 4.3%.

Carotenoids are also called tetraterpenoids. Carotenoids are a class of more than 750 naturally occurring pigments that are produced by plants algae, fungi, as well as several bacteria. Carotenoids belong to the category of tetraterpenoids. There are more than 600 different types of carotenoids. Some of them can be converted into vitamin A when released into the body. The main applications of carotenoids are as dietary supplements, animal feed, fortified foods, food color, cosmetics, and pharmaceuticals. Carotenoids are widely used as color enhancers in many natural foods including egg yolk, meat, chicken, or fish. Additionally, these products act as antioxidants and defense the body against problems such as chronic diseases, cellular damage, and the effects of aging.

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Market Dynamics:
Driver:
Increasing the demand for natural product among consumers around the world rising the growth of the market during the forecast period as Carotenoids is used as a colouring agent. Beta-carotene is a common component of plants that are used to provide a yellow to orange color to food and many cosmetic products. Rising the prevalence of lifestyle and early age problems is motivating consumers to consume naturally derived food ingredients. Also increase in consumer consciousness regarding the health benefits of carotenoids is another factor rising the growth of the market.

Opportunities:
Increasing the consumer's focus on the use of natural cosmetics products such as anti-aging creams and skin brightening products is predicted to bring immune application opportunities to market players. As a cost-effective method to extract the tetraterpenoids from various types of microalga sources. Also, the rising demand for supplements and nutritional products among the population is creating growth opportunities for carotenoids.
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 -
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Market Segmentation

Based on Type, the lutein segment is accounted for the largest market share during the forecast period. Lutein is blended by plants and found in some of the key food items, such as egg yolks, carrots, spinach, kale, squash, grapes, and pepper. It is utilized in both, human nutrition and animal nutrition products. Popularity for lutein owing to its ability to treat age-related eye disorders, such as cataracts and macular degeneration, is a major factor driving its demand.

Based on Application, animal feed is projected to account for the largest share in the market over the forecast period. Carotenoids are highly utilized in animal nutrition products owing to their coloring characteristics and are integrated into feed to pigment the egg yolks, broiler skin, fishes, and crustaceans.

Based on Source, the natural segment is dominating the market during the forecast period. High antioxidant characteristics, an increase in biological activities, and boosted immunity rate, both in humans and animals.

By Type
• Astaxanthin
• Beta-Carotene
• Canthaxanthin
• Capsanthin
• Others
By Source
• Synthetic
• Natural
By Application
• Animal Feed
• Food & Beverages
• Personal Care & Cosmetics
• Dietary Supplements
• Pharmaceuticals

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀@
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Regional Insights
Europe region is dominating the market during the forecast period owing to the huge application of carotenoids in animal feed sectors and also well-established personal care and cosmetics industry all over the region are key factors that drive the market growth. Additionally, these are also high preferring for food coloring ingredients in the European market.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Key Industry Developments
• In June 2019, DDW The Color House signed an agreement for the accession of Denmark-based company Du Pont Natural Colors to increase the presence of the company in the global market. This acquisition would also support it expand its portfolio with new products segment.
• In April 2019, Döhler Group signed an agreement for the accession of a majority of shares in Zumos Catalano Aragoneses S.A. (ZUCASA), which is based in Spain. This would support the company to enhance its presence in the fruits and carotenoids segment in the global market.

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Players Covered in Carotenoids market are:
• Allied Biotech
• BASF SE
• Dohler GmbH
• FMC Corporation
• Sensient Technologies
• Chr Hansen Holdings A/S
• Kemin Industries
• Algatech Tech
• Novus International Inc.
• DDW The Color House
• Lycored Ltd
• Fuji Chemical Industry Co. Ltd.
• E.I.D. Parry
• Divi's Laboratories
• Farbest Brands
• Deinove SAS and others Major Players.

Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures And Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?

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