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Carotenoids Market By Product (Astaxanthin, Capsanthin, Lutein, Beta-carotene, Lycopene, Others), By Source (Natural, Synthetic), By Application (Animal Feed, Human Food, Dietary Supplement, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 310 Pages
  • March 2023
  • Region: Global
  • Allied Market Research
  • ID: 4621194
Description Jump to:
Carotenoids, also called as tetraterpenoids are plant pigments composed of 40 carbon atoms per molecule. They can also be obtained from algae, bacteria, fungi, and animal fat, or can be produced synthetically. Animals are generally incapable of synthesizing carotenoids and need a dietary intake of plant products to meet their daily requirements. In animal nutrition, colors come from the animal diet and are mostly linked with the presence of carotenoids. With the ongoing optimization of animal nutrition, they are included in the feed as a part of the nutrients, which support animal health and product quality. Owing to their large presence, carotenoids are some of the earliest studied phytochemicals, which have a wide range of functions from optical enhancement within the eye to immunomodulatory and antioxidant functions. Various health benefits associated with carotenoids have led to their increased applications, which include animal feed, human food, dietary supplement, and others such as cosmetics, pharmaceuticals, and aquaculture.

The growth of the Asia-Pacific market is majorly attributed to rising disposable income, population growth that is accelerating, rising food consumption, and the development of food products based on carotenoids. The market is growing as a result of an increase in the use of components made from carotenoids in functional food and pharmaceutical industries. C carotenoids are also a more affordable source of the basic materials necessary to create animal feedstock, which is a major market-driving factor. The Asia-Pacific market is expected to expand more slowly as consumers become more aware of the advantages of products made from carotenoids.

Carotenoids, as preventive healthcare and nutraceuticals, have led to their higher consumption of human food and dietary supplement. They offer several health benefits, which include cancer prevention, anti-inflammatory, and immune system benefits, and are sometimes associated with cardiovascular disease prevention. Carotenoids are powerful antioxidant substances, which play an essential role in the neutralization reaction of free radicals. Thus, the antioxidant properties of carotenoids increase their application in cosmetics. Moreover, an increase in demand for natural colors in food processing, beverages, and the cosmetic industry is anticipated to open new avenues for carotenoid manufacturers.

However, stringent regulation on the use of carotenoids in human food, threats of adulteration, and higher cost of naturally sourced carotenoids as compared to synthetic carotenoids are expected to hamper the market growth.

The global carotenoids market is segmented on the basis of product, source, application, and region. By product, the market is divided into astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others. Based on the source, the market is bifurcated into natural and synthetic. Based on application, the market is classified into animal feed, human food, dietary supplement, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In 2021, Europe accounted for the highest market share and is anticipated to dominate the market during the forecast period. This is majorly attributed to the presence of top producers such as Koninklijke DSM, BASF, Chr. Hansen, and Dohler Group in the European market. Lutein, Lycopene, and Beta-Carotene are in high demand due to the region's aging population as a treatment for cataracts and as a preventative measure against diabetes, cancer, and other heart-related problems. Although synthetic carotenoids account for a high share in the market. The preference of consumers for natural and clean-label products is anticipated to fuel the expansion of the naturally-sourced carotenoids market in the area.

Some of the major players analyzed in this report are BASF SE, Koninklijke DSM N.V., Chr. Hansen A/S, FMC Corporation, Cyanotech Corporation, Kemin Industries Inc., DDW The Colour House, Döhler Group, Allied Biotech Corporation, and Excelvite.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carotenoids market analysis from 2021 to 2031 to identify the prevailing carotenoids market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the carotenoids market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global carotenoids market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Product

  • Lutein
  • Beta-carotene
  • Lycopene
  • Others
  • Astaxanthin
  • Capsanthin

By Source

  • Natural
  • Synthetic

By Application

  • Animal Feed
  • Human Food
  • Dietary Supplement
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Argentina
  • South Africa
  • Saudi Arabia
  • Rest of LAMEA

Key Market Players

  • BASF SE
  • Divis Laboratories Limited
  • Koninklijke DSM N.V.
  • Chr. Hansen Holding A/S
  • Kemin Industries, Inc.
  • DDW, Inc.
  • Dohler Group
  • Allied Biotech Corporation
  • Cyanotech Corporation
  • ExcelVite Sdn. Bhd.

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Intensity of rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Increase in demand for dietary supplements from an older population
3.4.1.2. Growth in end-user applications
3.4.1.3. Rise in Demand for natural colorants
3.4.2. Restraints
3.4.2.1. Stringent regulatory and approval norms
3.4.3. Opportunities
3.4.3.1. Increase in use of carotenoid in aquaculture
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: CAROTENOIDS MARKET, BY PRODUCT
4.1. Overview
4.1.1. Market size and forecast
4.2. Astaxanthin
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Capsanthin
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Lutein
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Beta-carotene
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
4.6. Lycopene
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market share analysis by country
4.7. Others
4.7.1. Key market trends, growth factors and opportunities
4.7.2. Market size and forecast, by region
4.7.3. Market share analysis by country
CHAPTER 5: CAROTENOIDS MARKET, BY SOURCE
5.1. Overview
5.1.1. Market size and forecast
5.2. Natural
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Synthetic
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: CAROTENOIDS MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Animal Feed
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Human Food
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Dietary Supplement
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
6.5. Others
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market share analysis by country
CHAPTER 7: CAROTENOIDS MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key trends and opportunities
7.2.2. Market size and forecast, by Product
7.2.3. Market size and forecast, by Source
7.2.4. Market size and forecast, by Application
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Key market trends, growth factors and opportunities
7.2.5.1.2. Market size and forecast, by Product
7.2.5.1.3. Market size and forecast, by Source
7.2.5.1.4. Market size and forecast, by Application
7.2.5.2. Canada
7.2.5.2.1. Key market trends, growth factors and opportunities
7.2.5.2.2. Market size and forecast, by Product
7.2.5.2.3. Market size and forecast, by Source
7.2.5.2.4. Market size and forecast, by Application
7.2.5.3. Mexico
7.2.5.3.1. Key market trends, growth factors and opportunities
7.2.5.3.2. Market size and forecast, by Product
7.2.5.3.3. Market size and forecast, by Source
7.2.5.3.4. Market size and forecast, by Application
7.3. Europe
7.3.1. Key trends and opportunities
7.3.2. Market size and forecast, by Product
7.3.3. Market size and forecast, by Source
7.3.4. Market size and forecast, by Application
7.3.5. Market size and forecast, by country
7.3.5.1. UK
7.3.5.1.1. Key market trends, growth factors and opportunities
7.3.5.1.2. Market size and forecast, by Product
7.3.5.1.3. Market size and forecast, by Source
7.3.5.1.4. Market size and forecast, by Application
7.3.5.2. Germany
7.3.5.2.1. Key market trends, growth factors and opportunities
7.3.5.2.2. Market size and forecast, by Product
7.3.5.2.3. Market size and forecast, by Source
7.3.5.2.4. Market size and forecast, by Application
7.3.5.3. France
7.3.5.3.1. Key market trends, growth factors and opportunities
7.3.5.3.2. Market size and forecast, by Product
7.3.5.3.3. Market size and forecast, by Source
7.3.5.3.4. Market size and forecast, by Application
7.3.5.4. Italy
7.3.5.4.1. Key market trends, growth factors and opportunities
7.3.5.4.2. Market size and forecast, by Product
7.3.5.4.3. Market size and forecast, by Source
7.3.5.4.4. Market size and forecast, by Application
7.3.5.5. Spain
7.3.5.5.1. Key market trends, growth factors and opportunities
7.3.5.5.2. Market size and forecast, by Product
7.3.5.5.3. Market size and forecast, by Source
7.3.5.5.4. Market size and forecast, by Application
7.3.5.6. Rest of Europe
7.3.5.6.1. Key market trends, growth factors and opportunities
7.3.5.6.2. Market size and forecast, by Product
7.3.5.6.3. Market size and forecast, by Source
7.3.5.6.4. Market size and forecast, by Application
7.4. Asia-Pacific
7.4.1. Key trends and opportunities
7.4.2. Market size and forecast, by Product
7.4.3. Market size and forecast, by Source
7.4.4. Market size and forecast, by Application
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Key market trends, growth factors and opportunities
7.4.5.1.2. Market size and forecast, by Product
7.4.5.1.3. Market size and forecast, by Source
7.4.5.1.4. Market size and forecast, by Application
7.4.5.2. India
7.4.5.2.1. Key market trends, growth factors and opportunities
7.4.5.2.2. Market size and forecast, by Product
7.4.5.2.3. Market size and forecast, by Source
7.4.5.2.4. Market size and forecast, by Application
7.4.5.3. Japan
7.4.5.3.1. Key market trends, growth factors and opportunities
7.4.5.3.2. Market size and forecast, by Product
7.4.5.3.3. Market size and forecast, by Source
7.4.5.3.4. Market size and forecast, by Application
7.4.5.4. Indonesia
7.4.5.4.1. Key market trends, growth factors and opportunities
7.4.5.4.2. Market size and forecast, by Product
7.4.5.4.3. Market size and forecast, by Source
7.4.5.4.4. Market size and forecast, by Application
7.4.5.5. South Korea
7.4.5.5.1. Key market trends, growth factors and opportunities
7.4.5.5.2. Market size and forecast, by Product
7.4.5.5.3. Market size and forecast, by Source
7.4.5.5.4. Market size and forecast, by Application
7.4.5.6. Rest of Asia-Pacific
7.4.5.6.1. Key market trends, growth factors and opportunities
7.4.5.6.2. Market size and forecast, by Product
7.4.5.6.3. Market size and forecast, by Source
7.4.5.6.4. Market size and forecast, by Application
7.5. LAMEA
7.5.1. Key trends and opportunities
7.5.2. Market size and forecast, by Product
7.5.3. Market size and forecast, by Source
7.5.4. Market size and forecast, by Application
7.5.5. Market size and forecast, by country
7.5.5.1. Brazil
7.5.5.1.1. Key market trends, growth factors and opportunities
7.5.5.1.2. Market size and forecast, by Product
7.5.5.1.3. Market size and forecast, by Source
7.5.5.1.4. Market size and forecast, by Application
7.5.5.2. Argentina
7.5.5.2.1. Key market trends, growth factors and opportunities
7.5.5.2.2. Market size and forecast, by Product
7.5.5.2.3. Market size and forecast, by Source
7.5.5.2.4. Market size and forecast, by Application
7.5.5.3. South Africa
7.5.5.3.1. Key market trends, growth factors and opportunities
7.5.5.3.2. Market size and forecast, by Product
7.5.5.3.3. Market size and forecast, by Source
7.5.5.3.4. Market size and forecast, by Application
7.5.5.4. Saudi Arabia
7.5.5.4.1. Key market trends, growth factors and opportunities
7.5.5.4.2. Market size and forecast, by Product
7.5.5.4.3. Market size and forecast, by Source
7.5.5.4.4. Market size and forecast, by Application
7.5.5.5. Rest of LAMEA
7.5.5.5.1. Key market trends, growth factors and opportunities
7.5.5.5.2. Market size and forecast, by Product
7.5.5.5.3. Market size and forecast, by Source
7.5.5.5.4. Market size and forecast, by Application
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
9.1. BASF SE
9.1.1. Company overview
9.1.2. Key Executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.2. Koninklijke DSM N.V.
9.2.1. Company overview
9.2.2. Key Executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.3. Chr. Hansen Holding A/S
9.3.1. Company overview
9.3.2. Key Executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.4. Divis Laboratories Limited
9.4.1. Company overview
9.4.2. Key Executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. Business performance
9.4.7. Key strategic moves and developments
9.5. Cyanotech Corporation
9.5.1. Company overview
9.5.2. Key Executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. Kemin Industries, Inc.
9.6.1. Company overview
9.6.2. Key Executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Key strategic moves and developments
9.7. DDW, Inc.
9.7.1. Company overview
9.7.2. Key Executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.8. Dohler Group
9.8.1. Company overview
9.8.2. Key Executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.9. Allied Biotech Corporation
9.9.1. Company overview
9.9.2. Key Executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.10. ExcelVite Sdn. Bhd.
9.10.1. Company overview
9.10.2. Key Executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
9.10.6. Key strategic moves and developments
List of Tables
TABLE 01. GLOBAL CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 02. CAROTENOIDS MARKET FOR ASTAXANTHIN, BY REGION, 2021-2031 ($MILLION)
TABLE 03. CAROTENOIDS MARKET FOR CAPSANTHIN, BY REGION, 2021-2031 ($MILLION)
TABLE 04. CAROTENOIDS MARKET FOR LUTEIN, BY REGION, 2021-2031 ($MILLION)
TABLE 05. CAROTENOIDS MARKET FOR BETA-CAROTENE, BY REGION, 2021-2031 ($MILLION)
TABLE 06. CAROTENOIDS MARKET FOR LYCOPENE, BY REGION, 2021-2031 ($MILLION)
TABLE 07. CAROTENOIDS MARKET FOR OTHERS, BY REGION, 2021-2031 ($MILLION)
TABLE 08. GLOBAL CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 09. CAROTENOIDS MARKET FOR NATURAL, BY REGION, 2021-2031 ($MILLION)
TABLE 10. CAROTENOIDS MARKET FOR SYNTHETIC, BY REGION, 2021-2031 ($MILLION)
TABLE 11. GLOBAL CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 12. CAROTENOIDS MARKET FOR ANIMAL FEED, BY REGION, 2021-2031 ($MILLION)
TABLE 13. CAROTENOIDS MARKET FOR HUMAN FOOD, BY REGION, 2021-2031 ($MILLION)
TABLE 14. CAROTENOIDS MARKET FOR DIETARY SUPPLEMENT, BY REGION, 2021-2031 ($MILLION)
TABLE 15. CAROTENOIDS MARKET FOR OTHERS, BY REGION, 2021-2031 ($MILLION)
TABLE 16. CAROTENOIDS MARKET, BY REGION, 2021-2031 ($MILLION)
TABLE 17. NORTH AMERICA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 18. NORTH AMERICA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 19. NORTH AMERICA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 20. NORTH AMERICA CAROTENOIDS MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 21. U.S. CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 22. U.S. CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 23. U.S. CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 24. CANADA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 25. CANADA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 26. CANADA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 27. MEXICO CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 28. MEXICO CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 29. MEXICO CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 30. EUROPE CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 31. EUROPE CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 32. EUROPE CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 33. EUROPE CAROTENOIDS MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 34. UK CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 35. UK CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 36. UK CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 37. GERMANY CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 38. GERMANY CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 39. GERMANY CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 40. FRANCE CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 41. FRANCE CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 42. FRANCE CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 43. ITALY CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 44. ITALY CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 45. ITALY CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 46. SPAIN CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 47. SPAIN CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 48. SPAIN CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 49. REST OF EUROPE CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 50. REST OF EUROPE CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 51. REST OF EUROPE CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 52. ASIA-PACIFIC CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 53. ASIA-PACIFIC CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 54. ASIA-PACIFIC CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 55. ASIA-PACIFIC CAROTENOIDS MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 56. CHINA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 57. CHINA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 58. CHINA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 59. INDIA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 60. INDIA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 61. INDIA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 62. JAPAN CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 63. JAPAN CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 64. JAPAN CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 65. INDONESIA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 66. INDONESIA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 67. INDONESIA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 68. SOUTH KOREA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 69. SOUTH KOREA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 70. SOUTH KOREA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 71. REST OF ASIA-PACIFIC CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 72. REST OF ASIA-PACIFIC CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 73. REST OF ASIA-PACIFIC CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 74. LAMEA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 75. LAMEA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 76. LAMEA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 77. LAMEA CAROTENOIDS MARKET, BY COUNTRY, 2021-2031 ($MILLION)
TABLE 78. BRAZIL CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 79. BRAZIL CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 80. BRAZIL CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 81. ARGENTINA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 82. ARGENTINA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 83. ARGENTINA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 84. SOUTH AFRICA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 85. SOUTH AFRICA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 86. SOUTH AFRICA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 87. SAUDI ARABIA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 88. SAUDI ARABIA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 89. SAUDI ARABIA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 90. REST OF LAMEA CAROTENOIDS MARKET, BY PRODUCT, 2021-2031 ($MILLION)
TABLE 91. REST OF LAMEA CAROTENOIDS MARKET, BY SOURCE, 2021-2031 ($MILLION)
TABLE 92. REST OF LAMEA CAROTENOIDS MARKET, BY APPLICATION, 2021-2031 ($MILLION)
TABLE 93. BASF SE: KEY EXECUTIVES
TABLE 94. BASF SE: COMPANY SNAPSHOT
TABLE 95. BASF SE: PRODUCT SEGMENTS
TABLE 96. BASF SE: PRODUCT PORTFOLIO
TABLE 97. KONINKLIJKE DSM N.V.: KEY EXECUTIVES
TABLE 98. KONINKLIJKE DSM N.V.: COMPANY SNAPSHOT
TABLE 99. KONINKLIJKE DSM N.V.: PRODUCT SEGMENTS
TABLE 100. KONINKLIJKE DSM N.V.: PRODUCT PORTFOLIO
TABLE 101. CHR. HANSEN HOLDING A/S: KEY EXECUTIVES
TABLE 102. CHR. HANSEN HOLDING A/S: COMPANY SNAPSHOT
TABLE 103. CHR. HANSEN HOLDING A/S: PRODUCT SEGMENTS
TABLE 104. CHR. HANSEN HOLDING A/S: PRODUCT PORTFOLIO
TABLE 105. DIVIS LABORATORIES LIMITED: KEY EXECUTIVES
TABLE 106. DIVIS LABORATORIES LIMITED: COMPANY SNAPSHOT
TABLE 107. DIVIS LABORATORIES LIMITED: PRODUCT SEGMENTS
TABLE 108. DIVIS LABORATORIES LIMITED: PRODUCT PORTFOLIO
TABLE 109. DIVIS LABORATORIES LIMITED: KEY STRATEGIES
TABLE 110. CYANOTECH CORPORATION: KEY EXECUTIVES
TABLE 111. CYANOTECH CORPORATION: COMPANY SNAPSHOT
TABLE 112. CYANOTECH CORPORATION: PRODUCT SEGMENTS
TABLE 113. CYANOTECH CORPORATION: PRODUCT PORTFOLIO
TABLE 114. CYANOTECH CORPORATION: KEY STRATEGIES
TABLE 115. KEMIN INDUSTRIES, INC.: KEY EXECUTIVES
TABLE 116. KEMIN INDUSTRIES, INC.: COMPANY SNAPSHOT
TABLE 117. KEMIN INDUSTRIES, INC.: PRODUCT SEGMENTS
TABLE 118. KEMIN INDUSTRIES, INC.: PRODUCT PORTFOLIO
TABLE 119. KEMIN INDUSTRIES, INC.: KEY STRATEGIES
TABLE 120. DDW, INC.: KEY EXECUTIVES
TABLE 121. DDW, INC.: COMPANY SNAPSHOT
TABLE 122. DDW, INC.: PRODUCT SEGMENTS
TABLE 123. DDW, INC.: PRODUCT PORTFOLIO
TABLE 124. DOHLER GROUP: KEY EXECUTIVES
TABLE 125. DOHLER GROUP: COMPANY SNAPSHOT
TABLE 126. DOHLER GROUP: PRODUCT SEGMENTS
TABLE 127. DOHLER GROUP: PRODUCT PORTFOLIO
TABLE 128. ALLIED BIOTECH CORPORATION: KEY EXECUTIVES
TABLE 129. ALLIED BIOTECH CORPORATION: COMPANY SNAPSHOT
TABLE 130. ALLIED BIOTECH CORPORATION: PRODUCT SEGMENTS
TABLE 131. ALLIED BIOTECH CORPORATION: PRODUCT PORTFOLIO
TABLE 132. EXCELVITE SDN. BHD.: KEY EXECUTIVES
TABLE 133. EXCELVITE SDN. BHD.: COMPANY SNAPSHOT
TABLE 134. EXCELVITE SDN. BHD.: PRODUCT SEGMENTS
TABLE 135. EXCELVITE SDN. BHD.: PRODUCT PORTFOLIO
TABLE 136. EXCELVITE SDN. BHD.: KEY STRATEGIES
List of Figures
FIGURE 01. CAROTENOIDS MARKET, 2021-2031
FIGURE 02. SEGMENTATION OF CAROTENOIDS MARKET, 2021-2031
FIGURE 03. TOP INVESTMENT POCKETS IN CAROTENOIDS MARKET (2022-2031)
FIGURE 04. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05. MODERATE BARGAINING POWER OF BUYERS
FIGURE 06. HIGH THREAT OF SUBSTITUTES
FIGURE 07. LOW THREAT OF NEW ENTRANTS
FIGURE 08. LOW INTENSITY OF RIVALRY
FIGURE 09. DRIVERS, RESTRAINTS AND OPPORTUNITIES: GLOBALCAROTENOIDS MARKET
FIGURE 10. CAROTENOIDS MARKET, BY PRODUCT, 2021(%)
FIGURE 11. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR ASTAXANTHIN, BY COUNTRY 2021 AND 2031(%)
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR CAPSANTHIN, BY COUNTRY 2021 AND 2031(%)
FIGURE 13. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR LUTEIN, BY COUNTRY 2021 AND 2031(%)
FIGURE 14. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR BETA-CAROTENE, BY COUNTRY 2021 AND 2031(%)
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR LYCOPENE, BY COUNTRY 2021 AND 2031(%)
FIGURE 16. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR OTHERS, BY COUNTRY 2021 AND 2031(%)
FIGURE 17. CAROTENOIDS MARKET, BY SOURCE, 2021(%)
FIGURE 18. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR NATURAL, BY COUNTRY 2021 AND 2031(%)
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR SYNTHETIC, BY COUNTRY 2021 AND 2031(%)
FIGURE 20. CAROTENOIDS MARKET, BY APPLICATION, 2021(%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR ANIMAL FEED, BY COUNTRY 2021 AND 2031(%)
FIGURE 22. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR HUMAN FOOD, BY COUNTRY 2021 AND 2031(%)
FIGURE 23. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR DIETARY SUPPLEMENT, BY COUNTRY 2021 AND 2031(%)
FIGURE 24. COMPARATIVE SHARE ANALYSIS OF CAROTENOIDS MARKET FOR OTHERS, BY COUNTRY 2021 AND 2031(%)
FIGURE 25. CAROTENOIDS MARKET BY REGION, 2021
FIGURE 26. U.S. CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 27. CANADA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 28. MEXICO CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 29. UK CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 30. GERMANY CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 31. FRANCE CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 32. ITALY CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 33. SPAIN CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 34. REST OF EUROPE CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 35. CHINA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 36. INDIA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 37. JAPAN CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 38. INDONESIA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 39. SOUTH KOREA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 40. REST OF ASIA-PACIFIC CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 41. BRAZIL CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 42. ARGENTINA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 43. SOUTH AFRICA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 44. SAUDI ARABIA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 45. REST OF LAMEA CAROTENOIDS MARKET, 2021-2031 ($MILLION)
FIGURE 46. TOP WINNING STRATEGIES, BY YEAR
FIGURE 47. TOP WINNING STRATEGIES, BY DEVELOPMENT
FIGURE 48. TOP WINNING STRATEGIES, BY COMPANY
FIGURE 49. PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 50. COMPETITIVE DASHBOARD
FIGURE 51. COMPETITIVE HEATMAP: CAROTENOIDS MARKET
FIGURE 52. TOP PLAYER POSITIONING, 2021
FIGURE 53. BASF SE: NET SALES, 2020-2022 ($MILLION)
FIGURE 54. BASF SE: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 55. BASF SE: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 56. BASF SE: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 57. CHR. HANSEN HOLDING A/S: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021
FIGURE 58. CHR. HANSEN HOLDING A/S: NET REVENUE, 2019-2021 ($MILLION)
FIGURE 59. CHR. HANSEN HOLDING A/S: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 60. CHR. HANSEN HOLDING A/S: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 61. DIVIS LABORATORIES LIMITED: NET REVENUE, 2019-2021 ($MILLION)
FIGURE 62. DIVIS LABORATORIES LIMITED: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 63. CYANOTECH CORPORATION: NET SALES, 2019-2021 ($MILLION)
FIGURE 64. CYANOTECH CORPORATION: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 ($MILLION)
FIGURE 65. CYANOTECH CORPORATION: REVENUE SHARE BY REGION, 2021 (%)

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Executive Summary

According to a new report titled, Carotenoids Market by Product, Source, and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025 the global carotenoids market was valued at $1,577 million in 2017 and is projected to reach $2,098 million by 2025, registering a CAGR of 3.6% from 2018 to 2025. In 2017, the animal feed segment accounted for about two-fifths share of the global market in terms of value.

Carotenoids are plant-based organic pigments responsible for bright red, yellow, orange, and other hues. These are obtained from algae, bacteria, fungi, animal fat or can be produced synthetically. They are characterized chemically by a long aliphatic polyene chain composed of eight isoprene units. Astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others such as canthaxanthin, annatto, and zeaxanthin are the major carotenoids, which are available commercially.

The health benefits of carotenoids in human food are becoming increasingly noticeable in the past few years, thus preventing several major health disorders. Higher dietary intake of carotenoids also helps the body to rejuvenate by promoting the growth of healthy cells and impede the growth of unhealthy ones. This has led to the greater consumption of carotenoids in human food, thus driving the market growth.

In 2017, animal feed application segment accounted for the highest market share in the global carotenoids market and is anticipated to remain dominant during the forecast period. Animals require carotenoids as their bodies cannot produce these essential nutrients. Thus, carotenoids are added to animal feed as they provide immunity against diseases, which in turn, is anticipated to drive the growth of the market during the forecast period. Moreover, increase in demand for natural colors in food processing, beverages, and cosmetics industry is anticipated to open new avenues for carotenoids manufacturers. However, stringent regulations on use of carotenoids in human food, threats of adulteration, and higher cost of naturally sourced carotenoids as compared to synthetic carotenoids are projected to hamper the market growth.

Key Findings of the Carotenoids Market:

In 2017, Europe accounted for the highest market share, growing at a CAGR of 3.7% from 2018 to 2025.
In 2017, animal feed application segment accounted for the highest market share and is expected to growth at the highest CAGR of 3.7%.
Astaxanthin accounted for the highest market share in 2017 in terms of value and is projected to grow at a significant CAGR of 3.5%.
In 2017, synthetic source of carotenoids accounted for the highest market share growing at a CAGR of 3.2%.
In 2017, the U.S. accounted for a prominent market share and is anticipated to grow at a significant CAGR of 3.2%.
India is anticipated to grow at the highest CAGR of 5.6% from 2018 to 2025.

In terms of value, Asia-Pacific and LAMEA collectively contributed more than one-third share in the global market in 2017.

Some of the major players analyzed in this report are BASF SE, Koninklijke DSM N.V., Chr. Hansen A/S, FMC Corporation, Cyanotech Corporation, Kemin Industries Inc., DDW The Colour House, Dhler Group, Allied Biotech Corporation, and Excelvite.

Companies Mentioned

  • BASF SE
  • Divis Laboratories Limited
  • Koninklijke DSM N.V.
  • Chr. Hansen Holding A/S
  • Kemin Industries, Inc.
  • DDW, Inc.
  • Dohler Group
  • Allied Biotech Corporation
  • Cyanotech Corporation
  • ExcelVite Sdn. Bhd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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