Carotenoids Market, By Type (Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others), By Production Method (Chemical synthesis, Extraction from botanical material, Fermentation, and Algae route), By Formulation Type (Oil suspensions, Beadlets, Powders, and Emulsions), By Application (Feed, Food, Supplements, Cosmetics, and Pharmaceuticals), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2030

Report Code: PMI102519 | Publish Date: March 2024 | No. of Pages: 178

Global Carotenoids Market By Type Overview

Introduction:

Carotenoids are phytonutrients which help to fight against radical damage and offers various antioxidants to ward off disease and lower inflammation. They have antioxidant properties which help in blocking formation of oxidative stress, which is a primary cause of aging and degeneration. Carotenoids travel through lipoproteins along with cholesterol and other fats that make them beneficial for protecting arteries against blockages, radical damage, and inflammation. Higher consumption of carotenoid is associated with improvements in several biomarkers that help in strong immune function. Carotenoids also hold properties such as anti-inflammatory, antitumor, chemo protective which help in prevention from infections, illnesses, and serious diseases like cancer. The Carotenoid Market accounted for US$ 1.65 billion in 2020 and is estimated to be US$ 2.51 billion by 2030 and is anticipated to register a CAGR of 4.3%.

Global Carotenoids Market By Type Dynamics

Increasing adoption of carotenoids

Increasing adoption of carotenoids in wide variety of applications including food, animal feed, dietary supplements, pharmaceuticals, and cosmetics is a major factor driving the growth of the carotenoid market. In addition, increasing demand for healthy & natural food and growing supplement consumption due to rising health issues are some other factors expected to support growth of the global market in the forecast period. Furthermore, increasing demand form pharmaceutical sector for medicinal preparation as carotenoids antioxidants property aids in protection of body against chronic diseases, cellular damage, and effects of aging is another factor propelling the growth of the target market. For instance, according to marine drug in 2108, Xanthophylls, for instance, perform the role of free-radical scavengers, potent quenchers of ROS (reactive oxygen species) and RNS (reactive nitrogen species) and chain-breaking antioxidants. Therefore, astaxanthin and canthaxanthin (which are xanthophylls) are better antioxidants and scavengers of free radicals.

Changing consumption pattern

Moreover, changing consumption pattern and rising health issues across the globe is resulting in increasing adoption of carotenoids product in dietary supplements is another factor expected to boost growth of the market. However, high dosage of carotenoids resulting in harmful side effects is a major factor restraining the growth of the target market. In addition, stringent government regulations related to product approval is another factor expected to challenge growth of the global carotenoid market to certain extent. There is an increasing demand among consumers for clean and natural products that are made from natural supplements and colours. This has created new opportunities for manufacturers to work on the extraction of carotenoid via natural means. Increasing R&D for the development of high-value natural carotenoids is an expected trend that can be observed during the forecast period for the global market.

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Global Carotenoids Market By Type Segmentation

The carotenoid market is segmented into types, production method, formulation types, applications, and region.

On the basis of types, the global market is sub-divided into astaxanthin, beta-carotene, lutein, lycopene, canthaxanthin, zeaxanthin, and others. Based on the production method, the target market is bifurcated into chemical synthesis, extraction from botanical material, fermentation, and algae route. Based on the formulation type, the global market is characterized into oil suspensions, beadlets, powders, and emulsions. On the basis of application, the target market is segmented into feed, food, supplements, cosmetics, and pharmaceuticals.

Regional Insights:

Some of the prominent players operating in the carotenoids market include BASF SE, Royal DSM N.V., Hansen A/S, FMC Corporation, Cyanotech Corporation, KnipBio Inc., D. Williamson & Co., Inc., Döhler Group, and Allied Biotech Corporation. These players are focusing on product innovation and partnerships as prime strategies for increasing their presence in the global market. In February 2018, KnipBio has developed SCP strain to produce astaxanthin for aquafeed. The company announced that it has developed a way to produce commercial amounts of its single-cell protein-based meal that also contains bio-astaxanthin.

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Detailed Segmentation:

Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2029

Market representation

Revenue in USD Million & CAGR from 2020 – 2029

Market Segmentation

By Product Type- Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, And Others

By Production Method- Chemical Synthesis, Extraction From Botanical Material, Fermentation, And Algae Route By Formulation Type- Oil Suspensions, Beadlets, Powders, And Emulsions

By Application- Feed, Food, Supplements, Cosmetics, And Pharmaceuticals

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Detailed Segmentation:

Carotenoids Market, By Type:

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

 Carotenoids Market, By Production Method:

  • Chemical synthesis
    • Algae route
    • Fermentation
    • Extraction from botanical material

Carotenoids Market, By Formulation Type:

  • Oil Suspensions
    • Emulsions
    • Powder
    • Beadlets

Carotenoids Market, By Applications:

  • Feed
    • Pharmaceuticals
    • Cosmetics
    • Supplements
    • Food

Carotenoids Market, By Region:

  • North America
    • Middle East & Africa
      • Middle East & Africa Carotenoids Market, By Type
      • Middle East & Africa Carotenoids Market, By Production Method
      • Middle East & Africa Carotenoids Market, By Formulation Type
      • Middle East & Africa Carotenoids Market, By Application
      • Middle East & Africa Carotenoids Market, By Country
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
    • Latin America
      • Latin America Carotenoids Market, By Type
      • Latin America Carotenoids Market, By Production Method
      • Latin America Carotenoids Market, By Formulation Type
      • Latin America Carotenoids Market, By Application
      • Latin America Carotenoids Market, By Country
        • Brazil
        • Mexico
        • Rest of Latin America
    • Asia Pacific
      • Asia Pacific Carotenoids Market, By Type
      • Asia Pacific Carotenoids Market, By Production Method
      • Asia Pacific Carotenoids Market, By Formulation Type
      • Asia Pacific Carotenoids Market, By Application
      • Asia Pacific Carotenoids Market, By Country
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific               
    • Europe
      • Europe Carotenoids Market, By Type
      • Europe Carotenoids Market, By Production Method
      • Europe Carotenoids Market, By Formulation Type
      • Europe Carotenoids Market, By Application
      • Europe Carotenoids Market, By Country
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • North America Carotenoids Market, By Type
    • North America Carotenoids Market, By Production Method
    • North America Carotenoids Market, By Formulation Type
    • North America Carotenoids Market, By Application
    • North America Carotenoids Market, By Country
      • U.S.
      • Canada

Global Carotenoids Market By Type Key Players

Some of the prominent players operating in the carotenoids market include BASF SE, Royal DSM N.V., Hansen A/S, FMC Corporation, Cyanotech Corporation, KnipBio Inc., D. Williamson & Co., Inc., Döhler Group, and Allied Biotech Corporation. These players are focusing on product innovation and partnerships as prime strategies for increasing their presence in the global market. In February 2018, KnipBio has developed SCP strain to produce astaxanthin for aquafeed. The company announced that it has developed a way to produce commercial amounts of its single-cell protein-based meal that also contains bio-astaxanthin.

Global Carotenoids Market By Type Company Profile

  • BASF SE
    • Company Overview
  • Product Portfolio
    • Royal DSM N.V.
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • Hansen A/S
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • FMC Corporation
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • Cyanotech Corporation
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • KnipBio Inc.
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • D. Williamson & Co., Inc.
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • Döhler Group
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • Allied Biotech Corporation.
      • Company Overview
    • Key Highlights
    • Financial Performance
  • Product Portfolio
    • Key Highlights
    • Financial Performance

Global Carotenoids Market By Type Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Preview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Production Type
      • Market Snippet, By Formulation Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Market Trends
    • Product Launch
    • Impact Analysis
    • PEST Analysis
    • Porter’s Analysis
  4. Market Segmentation, By Type, 2019 – 2029, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Astaxanthin
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
    • Beta-carotene
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
    • Lutein
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
    • Lycopene
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
    • Canthaxanthin
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
    • Zeaxanthin
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
    • Others (annatto, capsanthin, fucoxanthin, and trans-β-apo-8'-carotenal)
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029

Market Segmentation, By Production Type, 2019 – 2029, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2019 — 2029
    • Y-o-Y Growth Analysis (%), 2019 – 2029
    • Segment Trends
  • Chemical synthesis
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Extraction from botanical material
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Fermentation
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Algae route
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029

Market Segmentation, By Formulation Type, 2019 – 2029, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2019 — 2029
    • Y-o-Y Growth Analysis (%), 2019 – 2029
    • Segment Trends
  • Oil Suspension
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Beatleds
    •  Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Powders
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Emulsions
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029

Market Segmentation, By Application, 2019 – 2029, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2019 — 2029
    • Y-o-Y Growth Analysis (%), 2019 – 2029
    • Segment Trends
  • Feed
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Food
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Supplements
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Cosmetics
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  • Pharmaceuticals
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 – 2029
  1. Global Market, By Region, 2019 – 2029, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Production Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Production Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Country, 2019 – 2029
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Production Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Formulation Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Country, 2019 – 2029
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Production Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Formulation Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Country, 2019 – 2029
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Bn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Production Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Formulation Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Country, 2019 – 2029
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Bn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Production Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Formulation Type, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Bn), By Country, 2019 – 2029
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  2. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • BASF SE
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Royal DSM N.V. 
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Hansen A/S
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • FMC Corporation
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Cyanotech Corporation
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Kemin Industries Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • D. Williamson & Co., Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Aradigm Corporation
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Allied Biotech Corporation.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Capsugel healthcare pvt Ltd.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
    • Analyst Views
  3. Section
    • Research Methodology
    • About Us
    • Contact 

FAQs

Carotenoids market accounted for US$ 1.65 billion in 2020 and is estimated to be US$ 2.51 billion by 2030 and is anticipated to register a CAGR of 4.3%.

Carotenoids Market is projected to increase at a CAGR of 4.3% during the forecast.

The global carotenoid market is segmented into types, production method, formulation types, applications, and region.

Increasing adoption of carotenoids in wide variety of applications including food, animal feed, dietary supplements, pharmaceuticals, and cosmetics is a major factor driving the growth of the carotenoid market.