Carotenoids are organic pigments that are produced by plants and algae, as well as several bacteria and fungi. Carotenoids can be produced from fats and other basic organic metabolic building blocks by all these organisms. The only animals known to produce carotenoids are aphids and spider mites, which acquired the ability and genes from fungi. Carotenoids from the diet are stored in the fatty tissues of animals, and exclusively carnivorous animals obtain the compounds from animal fat.
Carotenoids downstream is wide: the major fields are food, feed, pharmaceuticals and cosmetics etc. In recent years, these industries have developed rapidly. Increasing demand for food is expected to drive the demand for the Carotenoids market. As regions such as North America, China, and Europe are food ingredient driven regions, the demand for Carotenoidss is high in these areas.
Global market is expected to witness significant growth on account of rising applications, so in the next few years, Carotenoids production will show a trend of steady growth. In 2023 the production of Carotenoids will reach 3048MT, and the consumption increasing degree will be high. On product prices, it will be floating in the future.
According to this study, over the next five years the Carotenoids market will register a 0.7% CAGR in terms of revenue, the global market size will reach US$ 1150 million by 2024, from US$ 1110 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Carotenoids business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Carotenoids market by product type, application, key manufacturers and key regions and countries.
This study considers the Carotenoids value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3: and forecast to 2024 in section 11.7.
Astaxanthin
Beta-Carotene
Canthaxanthin
Lycopene
Lutein
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4: and forecast to 2024 in section 11.8.
Food
Feed
Pharmaceuticals
Cosmetics
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
DSM
BASF
Allied Biotech
Chenguang Biotech
FMC
Dohler
Chr. Hansen
Carotech
DDW
Excelvite
Anhui Wisdom
Tian Yin
Kemin
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Carotenoids consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Carotenoids market by identifying its various subsegments.
Focuses on the key global Carotenoids manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Carotenoids with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Carotenoids submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
