Carotenoids, also called as tetraterpenoids, are plant pigments composed of 40 carbon atoms per molecule. They can also be obtained from algae, bacteria, fungi, 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 has led to its increased applications, which includes animal feed, human food, dietary supplement, and others such as cosmetics, pharmaceuticals, and aquaculture.

Carotenoids, as a preventive healthcare and nutraceuticals, have led to its higher consumption in human food and dietary supplement. They offers 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, increase in demand for natural colors in food processing, beverages, and cosmetic industry is anticipated to open new avenues for carotenoids manufacturers. However, stringent regulation on 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.

In 2017, Europe accounted for the highest market share and is anticipated to dominate the market during the forecast period. Asia-Pacific is projected to grow at the highest CAGR from 2018 to 2025 owing to higher adoption of carotenoids in Indian and Indonesian food and beverage industry.

The global carotenoids market is segmented based on product, source, application, and region. Based on product, the market is divided into astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others. Based on 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.

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, D?hler Group, Allied Biotech Corporation, and Excelvite.

KEY BENEFITS FOR STAKEHOLDERS

This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global carotenoids market from 2017 to 2025 to identify the prevailing market opportunities.
The key countries in all the major regions are mapped based on their market share.
Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

KEY MARKET SEGMENTS

By Product

Astaxanthin
Capsanthin
Lutein
Beta-carotene
Lycopene
Others

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