Global Carotenoids Market Will Reach Around USD 1.52 Billion in 2021
Zion Research has published a new report titled “Carotenoids Market by Type (Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others) for Feed, Food, Supplements, Cosmetics, and Pharmaceuticals – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021”. According to the report, global demand for beverage packaging market was valued at USD 1.23 billion in 2015, is expected to reach USD 1.52 billion in 2021 and is anticipated to grow at a CAGR of 3.5% between 2016 and 2021.
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Carotenoids are natural pigments found mainly in plants, algae, and few bacteria. Carotenoids have been considered as powerful antioxidant and vitamin A source. Beta-carotene, lycopene, and lutein are all different varieties of carotenoids. Antioxidants guard cells from substances that destroy DNA & cell membrane and free radicals. It also has anti-inflammatory and immune system benefits and is sometimes related with heart disease prevention.
Carotenoids are essential factors in human health and essential for vision. Potential protective effects of carotenoids against degenerative eye diseases and other deficiency-related disorders have been recognized. Hence, a sufficient intake of carotenoids is vital for preventing the development of deficiency-related diseases.
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Carotenoids market is driven by several factors like growing consumer preference for healthy products and the commercial reach of carotenoids in feeds and supplements. The antioxidative feature and health benefits of carotenoids are expected to boost the demand for carotenoids in medical sectors in coming years. The rising occurrence of severe diseases is also escalating the function of carotenoids in several food supplements.
Global carotenoids market is segmented based on type, application and region. Type segment includes astaxanthin, beta-carotene, lutein, lycopene, canthaxanthin, zeaxanthin, and others. There is huge demand for carotenoids around the world, particularly for beta-carotene, lutein and astaxanthin. Health benefits in feed and food has increased the consumption of these carotenoids and is anticipated to follow the same trend for the years to come. Feed, food, supplements, cosmetics, and pharmaceuticals are the application segment of the carotenoids market. Carotenoids are only found in plants and cannot be synthesized by animals; hence nutrient requirement of caretonoids is fulfilled by their diets. Supplements segment is expected to witness the fastest growth rate followed by the cosmetics segment in forecast period.
Europe dominated the carotenoids market in 2015 followed by North America. Asia Pacific is a major consumer and producer of carotenoids owing to cheap labor cost, availability of abundant raw material, and capabilities to produce carotenoids meeting the global standard and demand.
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The market for carotenoids is highly competitive due to presence of numerous players. BASF SE, DSM, Chr. Hansen A/S, FMC Corporation, Kemin Industries, Inc., Cyanotech Corporation, Allied Biotech, Brenntag, Cognis, Carotech, D.D.Williamson, and Divis Laboratorie are some of the leading players in the carotenoids market.
The report segments the global carotenoids market as
Global Carotenoids Market: Type Segment Analysis
Global Carotenoids Market: Application Segment Analysis
Global Carotenoids Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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