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Carotenoids Market Report by Product Type, Source, Formulation, Application, and Region 2024-2032

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    Report

  • 136 Pages
  • August 2024
  • Region: Global
  • IMARC Group
  • ID: 5995258
Description Jump to:
The global carotenoids market size reached US$ 1.7 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 2.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.42% during 2023-2032.

Carotenoids refer to various organic pigments that are responsible for bright red, yellow and orange hues in fruits and vegetables. They are a class of phytonutrients that are essential for plant health and are a rich source of vitamin A and antioxidants. Carotenoids can be synthetically produced as well as they are found in plants, algae, bacteria and fungi.

Some of the other major natural sources of carotenoids include papaya, pineapple, pumpkin, apricot, carrot, orange and corn. Alpha and beta carotene, beta-cryptoxanthin, lutein, zeaxanthin and lycopene are some of the commonly used carotenoids that are added as a colorant in food, cosmetics and animal feed products. In humans, they aid in treating cancer, improving vision and supporting physical growth and development.

Global Carotenoids Market Trends:

The increasing prevalence of cancer and other age-related ophthalmic disorders is one of the key factors driving the growth of the market. Furthermore, the widespread utilization of carotenoids in dietary supplements and other pharmaceutical products is also providing a boost to the market growth. Owing to increasing health consciousness and rising geriatric population across the globe, there is a shift in the consumer preferences toward preventive healthcare products that can act as antioxidants and protect the body from chronic diseases, cellular damage and detrimental effects of aging. Carotenoids are extensively utilized to improve animal nutrition and feed products to enhance their fertility and overall immunity. This, along with various technological advancements in extraction methods and the growing demand for natural coloring, is projected to drive the market further.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global carotenoids market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, source, formulation and application.

Breakup by Product Type:

  • Beta-Carotene
  • Astaxanthin
  • Lutein
  • Lycopene
  • Zeaxanthin
  • Canthaxanthin
  • Others

Breakup by Source:

  • Synthetic
  • Natural

Breakup by Formulation:

  • Oil Suspension
  • Powder
  • Emulsion
  • Others

Breakup by Application:

  • Animal Feed
  • Dietary Supplements
  • Food and Beverages
  • Cosmetics
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Allied Biotech Corporation, BASF SE, Chr. Hansen Holding A/S, Cyanotech Corporation, DDW The Color House, Deinove SAS, Divi's Laboratories Limited, Döhler Group, Excelvite Sdn. Bhd., Kemin Industries, Lycored Limited, Naturex SA (Givaudan SA), Vidya Europe SAS, Zhejiang NHU Co. Ltd., etc.

Key Questions Answered in This Report:

  • How has the global carotenoids market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global carotenoids market?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the source?
  • What is the breakup of the market based on the formulation?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global carotenoids market and who are the key players?
  • What is the degree of competition in the industry?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Carotenoids Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Beta-Carotene
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Astaxanthin
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Lutein
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Lycopene
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Zeaxanthin
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Canthaxanthin
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Others
6.7.1 Market Trends
6.7.2 Market Forecast
7 Market Breakup by Source
7.1 Synthetic
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Natural
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Formulation
8.1 Oil Suspension
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Powder
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Emulsion
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Application
9.1 Animal Feed
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Dietary Supplements
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Food and Beverages
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Cosmetics
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Indicators
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Allied Biotech Corporation
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.2 BASF SE
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Chr. Hansen Holding A/S
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 Cyanotech Corporation
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 DDW The Color House
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 Deinove SAS
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.7 Divi's Laboratories Limited
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Döhler Group
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Excelvite Sdn. Bhd.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 Kemin Industries
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Lycored Limited
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.12 Naturex SA (Givaudan SA)
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.13 Vidya Europe SAS
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio
15.3.14 Zhejiang NHU Co. Ltd.
15.3.14.1 Company Overview
15.3.14.2 Product Portfolio
List of Figures
Figure 1: Global: Carotenoids Market: Major Drivers and Challenges
Figure 2: Global: Carotenoids Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Carotenoids Market: Breakup by Product Type (in %), 2023
Figure 4: Global: Carotenoids Market: Breakup by Source (in %), 2023
Figure 5: Global: Carotenoids Market: Breakup by Formulation (in %), 2023
Figure 6: Global: Carotenoids Market: Breakup by Application (in %), 2023
Figure 7: Global: Carotenoids Market: Breakup by Region (in %), 2023
Figure 8: Global: Carotenoids Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: Carotenoids (Beta-Carotene) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Carotenoids (Beta-Carotene) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Carotenoids (Astaxanthin) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Carotenoids (Astaxanthin) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Carotenoids (Lutein) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Carotenoids (Lutein) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Carotenoids (Lycopene) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Carotenoids (Lycopene) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Carotenoids (Zeaxanthin) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Carotenoids (Zeaxanthin) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Carotenoids (Canthaxanthin) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Carotenoids (Canthaxanthin) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Carotenoids (Other Product Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Carotenoids (Other Product Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Carotenoids (Synthetic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Carotenoids (Synthetic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Carotenoids (Natural) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Carotenoids (Natural) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Carotenoids (Oil Suspension) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Carotenoids (Oil Suspension) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Carotenoids (Powder) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Carotenoids (Powder) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Carotenoids (Emulsion) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Carotenoids (Emulsion) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Carotenoids (Others) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Carotenoids (Others) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Global: Carotenoids (Animal Feed) Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Global: Carotenoids (Animal Feed) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Global: Carotenoids (Dietary Supplements) Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Global: Carotenoids (Dietary Supplements) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Global: Carotenoids (Food and Beverages) Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Global: Carotenoids (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Global: Carotenoids (Cosmetics) Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Global: Carotenoids (Cosmetics) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Global: Carotenoids (Others) Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Global: Carotenoids (Others) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: North America: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: North America: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: United States: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: United States: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: Canada: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: Canada: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Asia Pacific: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Asia Pacific: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: China: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: China: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Japan: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Japan: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: India: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: India: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: South Korea: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: South Korea: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Australia: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Australia: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Indonesia: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Indonesia: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Others: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Others: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Europe: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Europe: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Germany: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Germany: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: France: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: France: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: United Kingdom: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: United Kingdom: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Italy: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Italy: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Spain: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Spain: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Russia: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Russia: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Others: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 82: Others: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 83: Latin America: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 84: Latin America: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 85: Brazil: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 86: Brazil: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 87: Mexico: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 88: Mexico: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 89: Others: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 90: Others: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 91: Middle East and Africa: Carotenoids Market: Sales Value (in Million US$), 2018 & 2023
Figure 92: Middle East and Africa: Carotenoids Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 93: Global: Carotenoids Industry: SWOT Analysis
Figure 94: Global: Carotenoids Industry: Value Chain Analysis
Figure 95: Global: Carotenoids Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Carotenoids Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Carotenoids Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
Table 3: Global: Carotenoids Market Forecast: Breakup by Source (in Million US$), 2024-2032
Table 4: Global: Carotenoids Market Forecast: Breakup by Formulation (in Million US$), 2024-2032
Table 5: Global: Carotenoids Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 6: Global: Carotenoids Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Carotenoids Market: Competitive Structure
Table 8: Global: Carotenoids Market: Key Players

Companies Mentioned

  • Allied Biotech Corporation
  • BASF SE
  • Chr. Hansen Holding A/S
  • Cyanotech Corporation
  • DDW The Color House
  • Deinove SAS
  • Divi's Laboratories Limited
  • Döhler Group
  • Excelvite Sdn. Bhd.
  • Kemin Industries
  • Lycored Limited
  • Naturex SA (Givaudan SA)
  • Vidya Europe SAS
  • Zhejiang NHU Co. Ltd.

Methodology

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Table Information

Report AttributeDetails
No. of Pages136
PublishedAugust 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 1.7 Billion
Forecasted Market Value ( USD ) by 2032 $ 2.3 Billion
Compound Annual Growth Rate3.4%
Regions CoveredGlobal
No. of Companies Mentioned14

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