Carotenoids Market -Trend Analysis and Forecast up to 2024



Axiom Market Research & Consulting™ added “Carotenoids Market Research Report, By Type, Source, Application and Geography – Global Market Share, Trend Analysis and Forecast up to 2024”


The Global carotenoids market was valued at USD 1.3 billion in 2015 and is projected to grow at a CAGR of 3.2% from 2017 to 2022. Carotenoids are any class of fat soluble pigments containing carotene which give mainly orange, yellow, or red color to the plants or animals. Carotenoids can be produced naturally by plants but need to be externally supplied to the human beings. Along with the coloration property, carotenoids are highly nutritious and are used to prevent various diseases like diabetes, obesity, and cancer.  Growing occurrences of chronic diseases like cancer, diabetes, obesity and high blood pressure is increasing the health consciousness of the consumers resulting into increased demand for healthy food and supplements.
The Global carotenoids market report is segmented on the basis of its types, source, application and region which comprises of North America, Europe, Asia-Pacific, Latin America and rest of the world. The most important types of carotenoids are astaxanthin, beta carotene, lutein, canthaxanthin, lycopene, and zeaxanthin. These carotenoids are available in natural as well as synthetic sources.

Europe leads the global carotenoids market followed by North America and Asia-Pacific. France and Germany are then leading country-level markets for carotenoids wherein high usage of carotenoids is done in health supplements and animal feed. The market for Asia-Pacific is the fastest growing market due to rising health conscious population as well as increasing meat industry.
The leading players include BASF SE, Royal DSM N.V., Chr. Hansen A/S, FMC Corporation, Kemin Industries Inc., Allied Biotech Corporation, Cynotech Corporation, D.D. Williamson & Co. Inc., ZMC DIVIS Laboratories, Carotech and LycoRed. These players are expanding their presence in the market by innovating new and unique types of carotenoids as well as its applications.

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