Global Carotenoids Market By Product (Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics & Pharmaceuticals), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Global Carotenoids Market is expected to be driven by increasing awareness related to eye health and vitamin A deficiency

Market.US announces publication of its most recently generated research report titled, “Global Carotenoids Market by Product Type (Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, & Other Product Types), By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics & Pharmaceuticals), and by Region – Global Forecast to 2031”, which offers a holistic view of the global carotenoids market through systematic segmentation that covers every aspect of the target market.

The global carotenoids market is projected to be US$ 1,764.2 Mn in 2021 to reach US$ 3,218.4 Mn by 2031 at a CAGR of 6.3%.

Carotenoids are orange, yellow, and red organic pigments that are produced by algae, plants, as well as by several bacteria and fungi. Pumpkins, carrots, tomatoes, corn, salmon, flamingos, and other different types of plants and animals derive their characteristic colors from carotenoids. All these organisms produce carotenoids from fats and other basic organic metabolic building blocks.

Aphids and spider mites are the only known land-dwelling arthropods that produce carotenoids, who have adopted this genetic ability from fungi. Carotenoids play some key roles in algae and plants – the first is to absorb light energy for the process of photosynthesis, and the second, to provide photoprotection through non-photochemical quenching. The total number of carotenoids known till now stands at 1,100 and can be categorized into two classes, namely xanthophylls and carotenes.

All carotenoids are derivatives of tetraterpenes, which means that they are produced from eight isoprene molecules, and contains forty carbon atoms. Carotenoids obtained from the consumption of food are stored in the fatty tissues of animals. In the case of humans, carotenoids are absorbed when consumed with various fats in a meal.

Lutein, lycopene, zeaxanthin, and others are some commercial forms of carotenoids in which it is available. Carotenoids consumption in food, feed, supplements, and in cosmetics are increasing due to the benefits associated with it. Carotenoids are also organically present in certain fruits and vegetables. Sources of carotenoids range from yams, kale, spinach, watermelon, bell peppers, tomatoes, etc.

Global Carotenoids Market Revenue (US$ Mn), 2021–2031

Increasing awareness concerning eye health, cardiovascular diseases, and cancer are expected to boost the revenue growth of the carotenoids market. Carotenoids are beneficial antioxidants that make an immune system strong. The consumption of foods that are rich in carotenoids helps in protecting healthy cells in the eye, and in preventing the development of cancerous cells.

Muscular degeneration is one of the leading causes of blindness, which is generally caused by long-term exposure to blue light. Studies have indicated that the incorporation of carotenoids such as lutein and zeaxanthin in a prescribed manner, which are also found in the retina, can prevent existing eye-related disorders from progressing. Also, vitamin A deficiency (VAD) is a leading cause of preventable childhood blindness. The periodic intervention of high-dose vitamin A supplement is a proven and low-cost form of treatment that has shown a reduction in mortality rate by 12 to 24 percent.

Due to these reasons, a greater number of awareness programs are being initiated by various governments and NGOs across both developed and developing nations. This factor is slated to augment future market growth prospects for carotenoids as they can be converted to vitamin A.

Unfortunately, the high prices associated with synthetic carotenoids, especially in developing and low-income countries, and the excessive and unregulated use of carotenoids in developed countries are factors that could potentially restrain the revenue growth of this target market. However, carotenoids have been playing an important role in the daily diets of animals and humans.

Carotenoids are included in the feed to offer nutrition that supports an animal’s health. They are widely used in animal nutrition products, owing to their coloring properties, and are also incorporated in feed to pigment egg yolks, fish, broiler skin, and crustaceans. These in turn, help to increase immunity levels and to improve the health of livestock by amplifying the quality of nutrition offered. This is likely to create revenue growth opportunities for this target market.

Global Carotenoids Market Attractiveness Analysis by Product Type, 2015–2031

The global carotenoids market is segmented into product type, application, and regions. The product type segment includes astaxanthin, beta-carotene, lutein, lycopene, canthaxanthin, zeaxanthin, other product types. The astaxanthin accounts for the highest revenue share among the product type segments. The application segment includes feed, food & beverages, dietary supplements, cosmetics, and pharmaceuticals.

Among the application segments, the feed accounts for a significant share in terms of revenue. Among the regional markets, the Europe market is expected to account for significant revenue share over the forecast period.

The research report on the global carotenoids market includes profiles of some of the major companies such as BASF SE, Koninklijke DSM NV, Sensient Technologies Corporation (Sensient Colors LLC), Divi’s Laboratories Ltd. (Divi’s Nutraceuticals), Chenguang Biotech Group Co. Ltd., Kemin Industries Inc., Lycored Corp., Fuji Chemical Industries Co., Ltd., Cyanotech Corporation, DDW, The Color House, Allied Biotech Corporation, and Industrias Vepinsa S.A. De C.V., and others.

Segmentation for Global Carotenoids Market, Based on Product Type, Application, and Region

Based on Product Type

• Astaxanthin
• Beta-carotene
• Lutein
• Lycopene
• Canthaxanthin
• Zeaxanthin
• Other Product Types

Based on Application

• Feed
• Food & Beverages
• Dietary Supplements
• Cosmetics
• Pharmaceuticals

Based on Key Players

• BASF SE
• Koninklijke DSM NV
• Sensient Technologies Corporation (Sensient Colors LLC)
• Divi’s Laboratories Ltd. (Divi’s Nutraceuticals)
• Chenguang Biotech Group Co. Ltd.
• Kemin Industries Inc.
• Lycored Corp.
• Fuji Chemical Industries Co. Ltd.
• Cyanotech Corporation
• DDW
• The Color House
• Allied Biotech Corporation
• Industrias Vepinsa S.A. De C.V.
• others

Based on Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

For the Carotenoids Market research study, the following years have been considered to estimate the market size: