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Thursday, 11 August 2022 03:11 GMT

Carotenoids Market Size, Growth, Trends, Dynamic Demand, Top Companies, Revenue, Share and Regional Forecast to 2028


(MENAFN- iCrowdNewsWire) The global carotenoids market  is expected to reach USD 2.19 Billion by 2028, according to a new report by Reports and Data. Carotenoids are the type of phytonutrients found in the cells of a wide variety of plants, algae, and bacteria. These phytonutrients help plants absorb light energy for use in photosynthesis. Carotenoids are essential anti-oxidants that play a significant role in animal health and reproduction. Carotenoid-containing foods are generally red, yellow or orange.

Carotenoids are extensively used as coloring agents in food and beverages industry. Nevertheless, with biotechnological advancements coupled with innovations in recombinant DNA technology, the extraction of carotenoids is now commercially feasible. Owing to this, there is an increase in the production of carotenoid-based products. The rise in consumer awareness regarding the health benefits of carotenoid-based supplements and fortified foods has led to the use of such products as a preventive measure against various health conditions including arthritis, diabetes, obesity, cancer, macular degeneration, and skin damage among others.

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The growth in the market demand for functional foods is also estimated to propel the market demand for carotenoids. The carotenoid market is projected to rise significantly in the forecast period owing to high demand in end-use applications comprising food & beverages, animal feed, dietary supplements, personal care, and pharmaceuticals among others.

Key participants include BASF, Allied Biotech, AquaCarotene, Algatechnologies, Kemin Industries, Cyanotech Corp., Brenntag, Divis Laboratories, Naturex SA, DSM Nutritional Products, D.D. Williamson, Lycored, FMC Corporation, and EID Parry.

Eating carotenoid-rich foods can protect healthy cells in the eye and inhibit the growth of cancerous cells. One of the principal reasons for blindness is macular degeneration. Presence of the long system of alternating double and single bonds in carotenoids allows them to absorb light rays in the visible range of the spectrum. This characteristic is particularly beneficial to eyes, where lutein, zeaxanthin, and meso-zeaxanthin efficiently absorb blue light. Based on the density of the carotenoid pigment present in the macula, about 90% of blue light can be absorbed by these pigments. Reduction in the amount of short wavelength that reaches the vital parts of the eye may protect them from oxidative damage caused by light.

Further key findings from the report suggest

Beta-carotene accounted for more than 20% of the market share in the year 2020 and is projected to have a growth rate of 3.6% during the forecast period. The application of beta-carotene as a colorant, antioxidant, and as a rich source of vitamin A in food & beverages, animal feed, dietary supplements, personal care products, and pharmaceuticals is expected to propel the market growth.

Natural sources of production of carotenoids are forecasted to observe the highest growth rate of 3.8% in the forecast period. Rising consumer awareness about the health benefits and the gains associated with natural products is projected to boost market demand throughout the forecast period.

At present, carotenoids are mostly used as additives and dyes in human and animal foods. Animal feed segment dominated the market and held more than 40% of the carotenoids market with a growth rate of 3.5% in the forecast period.

Europe contributed to the largest market share in the forecast period with USD 0.63 billion in 2020 due to the increasing demand for health supplements and animal feed.

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For the purpose of this report, Reports and Data have segmented global carotenoid market on the basis of type, source, extraction, application, and region:

Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Beta-Carotene

Alpha-Carotene

Lycopene

Lutein

Zeaxanthin

Beta-Cryptoxanthin

Astaxanthin

Others

Source Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Natural

Synthetic

Extraction Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Conventional Process (using organic solvents or vegetable oils)

Supercritical Fluid Extraction

Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Food & Beverages

Animal Feed

Dietary Supplements

Personal Care

Pharmaceuticals

Others

Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

North America

Europe

Asia Pacific

Latin America

MEA

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Highlights of the TOC:

Chapter 1. Market Synopsis

Market Definition

Research Scope & Premise

Methodology

Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2016-2026

Chapter 3. Indicative Metrics

Chapter 4. Carotenoids Segmentation & Impact Analysis

4.1. Carotenoids Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market drivers analysis

4.2.2.1. Growth of end-use Industries.

Continued…

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About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

         

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