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In 2023, the carotenoids market was estimated to be worth 1.47 billion USD. With a predicted CAGR (compound annual growth rate) of 5.60 percent from 2024 to 2031, the carotenoids market is expected to increase from $1.768 billion in 2024 to $2.339 billion in 2031. The primary factors fueling the market's expansion are rising consumer knowledge of carotenoids' health advantages and the wide range of industries that put them to use.
The pigments—carotenoids—that give fruits their characteristic red, orange, and yellow hues are present in nature. Its primary sources are both natural and manufactured. The carotenoids are made synthetically for their use in commercial products. Carotenoids can be found in different concentrations and proportions depending on where they are sourced. A few examples of carotenoids that are utilized as natural food colors are saffron, annatto, paprika, lycopene, lutein, carrot oil, and beta-carotene. In addition to being able to withstand high-pressure extraction procedures, these compounds have excellent heat stability. Because of their excellent pH stability, carotenoids are most effective at pH levels greater than 3.5. Carotenoids, on the other hand, are susceptible to degradation by oxygen, low pH, light, and enzymes.
A number of factors are contributing to the rapid expansion of the carotenoids market. One of them is the rising demand for carotenoids as a potential alternative treatment for a wide range of diseases and conditions, particularly those affecting the eyes, such as diabetes, cancer, and aging. Over the forecast period, the carotenoids market is expected to be driven by increasing demand for natural colorants and a growing awareness of the medical applications of carotenoids. However, strict regulatory and licensing criteria, together with the negative consequences of high carotenoids doses, are the main issues that are limiting the market growth for carotenoids. Market participants may soon have a chance to capitalize on the rising demand for carotenoids derived from natural sources.
Preventive and predictive medication is most commonly used by the elderly, who make up a considerable percentage of the developed world's population. Underconsumption of vitamins is commonly linked to health issues experienced by the elderly, like vision loss. This is expected to increase interest in carotenoids, which will propel the market to new heights. Further fueling the expansion of the global carotenoids market are the increasing number of end-user applications and the growing demand for natural colorants.
In 2017, there were 962 million people aged 60 and up in the world. By 2050, experts predict that number will have doubled, reaching over 2.1 billion. Preventive and predictive medication is most commonly used by the elderly, who make up a considerable percentage of the developed world's population. Vitamin deficiencies are a common cause of age-related health issues, including eyesight loss, among the elderly. This is expected to increase interest in carotenoids, which will propel the carotenoids business to new heights.
Strong regulatory control means that many countries ban carotenoids even though they have significant health benefits. For example, astaxanthin is only allowed for specific uses in animal and fish meals according to the US Food and Drug Administration (USDA)'s regulations for food colors. One common usage for lycopene is as a food colorant. It is most often made using tomatoes. Annatto is also used to color foods and beverages that have a neutral pH, including flavoured milk and drinks, but it is not used to color foods and beverages that have a low pH, like those that have precipitated. As a food colorant, its use is restricted in European nations compared to the United States. Strict regulatory and approval procedures effectively impede the expansion of the global market for carotenoids.
The growth of the carotenoids market is being propelled by the rising demand for natural colorants. Consumers are becoming more conscious of the importance of organic products, the risks associated with synthetic colorants, and the potential health benefits of natural colorants, which is driving up the demand for natural colorants over synthetic ones. Natural colorants are in high demand due to growing health concerns and a preference for environmentally friendly products. This is because artificial substances used to enhance food production have produced different health hazards.
Natural colorants like carotenoids are commonly found in dairy and bread products such as cheese, margarine, and confections. As a substitute for synthetic carotenoids, which have been discovered to have harmful effects on human health when consumed, natural carotenoids are currently gaining popularity in the food and drink sector. Because of their ability to ward off chronic diseases, natural carotenoids are gaining popularity in the food and drink sector. Due to their non-toxicity, natural colorants and dyes are a harmless addition to food. They are derived from a variety of sources, including plants, animals, fruits, insects, and minerals. Natural colorants are becoming more popular for therapeutic purposes because they are safer than synthetic ones and have less negative side effects. Natural colorants are preferred by several governments throughout the world due to their low environmental impact and biodegradability. Natural colorants are becoming increasingly popular, and many regions have implemented legislation to encourage their use.
Report Coverage
Global Carotenoids research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Carotenoids report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Carotenoids competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Carotenoids market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Carotenoids market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Carotenoids market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Kemin Industries, Inc., Cyanotech Corporation, DDW, Inc., Divis Laboratories Limited, Koninklijke DSM N.V., ExcelVite Sdn. Bhd., Allied Biotech Corporation, BASF SE, Chr. Hansen Holding A/S, Dohler Group
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Carotenoids market based on the below-mentioned segments:
Global Carotenoids Market, By Product
Lutein
Beta-carotene
Lycopene
Others
Astaxanthin
Capsanthin
Global Carotenoids market, By Application
Animal Feed
Human Food
Dietary Supplement
Others
Global Carotenoids Market, By Source
Natural
Synthetic
Global Carotenoids market, Regional Analysis
The pigments—carotenoids—that give fruits their characteristic red, orange, and yellow hues are present in nature. Its primary sources are both natural and manufactured. The carotenoids are made synthetically for their use in commercial products. Carotenoids can be found in different concentrations and proportions depending on where they are sourced. A few examples of carotenoids that are utilized as natural food colors are saffron, annatto, paprika, lycopene, lutein, carrot oil, and beta-carotene. In addition to being able to withstand high-pressure extraction procedures, these compounds have excellent heat stability. Because of their excellent pH stability, carotenoids are most effective at pH levels greater than 3.5. Carotenoids, on the other hand, are susceptible to degradation by oxygen, low pH, light, and enzymes.
A number of factors are contributing to the rapid expansion of the carotenoids market. One of them is the rising demand for carotenoids as a potential alternative treatment for a wide range of diseases and conditions, particularly those affecting the eyes, such as diabetes, cancer, and aging. Over the forecast period, the carotenoids market is expected to be driven by increasing demand for natural colorants and a growing awareness of the medical applications of carotenoids. However, strict regulatory and licensing criteria, together with the negative consequences of high carotenoids doses, are the main issues that are limiting the market growth for carotenoids. Market participants may soon have a chance to capitalize on the rising demand for carotenoids derived from natural sources.
Preventive and predictive medication is most commonly used by the elderly, who make up a considerable percentage of the developed world's population. Underconsumption of vitamins is commonly linked to health issues experienced by the elderly, like vision loss. This is expected to increase interest in carotenoids, which will propel the market to new heights. Further fueling the expansion of the global carotenoids market are the increasing number of end-user applications and the growing demand for natural colorants.
In 2017, there were 962 million people aged 60 and up in the world. By 2050, experts predict that number will have doubled, reaching over 2.1 billion. Preventive and predictive medication is most commonly used by the elderly, who make up a considerable percentage of the developed world's population. Vitamin deficiencies are a common cause of age-related health issues, including eyesight loss, among the elderly. This is expected to increase interest in carotenoids, which will propel the carotenoids business to new heights.
Strong regulatory control means that many countries ban carotenoids even though they have significant health benefits. For example, astaxanthin is only allowed for specific uses in animal and fish meals according to the US Food and Drug Administration (USDA)'s regulations for food colors. One common usage for lycopene is as a food colorant. It is most often made using tomatoes. Annatto is also used to color foods and beverages that have a neutral pH, including flavoured milk and drinks, but it is not used to color foods and beverages that have a low pH, like those that have precipitated. As a food colorant, its use is restricted in European nations compared to the United States. Strict regulatory and approval procedures effectively impede the expansion of the global market for carotenoids.
The growth of the carotenoids market is being propelled by the rising demand for natural colorants. Consumers are becoming more conscious of the importance of organic products, the risks associated with synthetic colorants, and the potential health benefits of natural colorants, which is driving up the demand for natural colorants over synthetic ones. Natural colorants are in high demand due to growing health concerns and a preference for environmentally friendly products. This is because artificial substances used to enhance food production have produced different health hazards.
Natural colorants like carotenoids are commonly found in dairy and bread products such as cheese, margarine, and confections. As a substitute for synthetic carotenoids, which have been discovered to have harmful effects on human health when consumed, natural carotenoids are currently gaining popularity in the food and drink sector. Because of their ability to ward off chronic diseases, natural carotenoids are gaining popularity in the food and drink sector. Due to their non-toxicity, natural colorants and dyes are a harmless addition to food. They are derived from a variety of sources, including plants, animals, fruits, insects, and minerals. Natural colorants are becoming more popular for therapeutic purposes because they are safer than synthetic ones and have less negative side effects. Natural colorants are preferred by several governments throughout the world due to their low environmental impact and biodegradability. Natural colorants are becoming increasingly popular, and many regions have implemented legislation to encourage their use.
Report Coverage
Global Carotenoids research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Carotenoids report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Carotenoids competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Carotenoids market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Kemin Industries, Inc., Cyanotech Corporation, DDW, Inc., Divis Laboratories Limited, Koninklijke DSM N.V., ExcelVite Sdn. Bhd., Allied Biotech Corporation, BASF SE, Chr. Hansen Holding A/S, Dohler Group |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Carotenoids Market from 2021 to 2031.
- Market Forecast for Carotenoids Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Carotenoids competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Carotenoids
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Carotenoids market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Carotenoids market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Kemin Industries, Inc., Cyanotech Corporation, DDW, Inc., Divis Laboratories Limited, Koninklijke DSM N.V., ExcelVite Sdn. Bhd., Allied Biotech Corporation, BASF SE, Chr. Hansen Holding A/S, Dohler Group
Primary Target Market
- Market Players of Carotenoids
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Carotenoids market based on the below-mentioned segments:
Global Carotenoids Market, By Product
Lutein
Beta-carotene
Lycopene
Others
Astaxanthin
Capsanthin
Global Carotenoids market, By Application
Animal Feed
Human Food
Dietary Supplement
Others
Global Carotenoids Market, By Source
Natural
Synthetic
Global Carotenoids market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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