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Report Highlights
The global market for carotenoids is estimated to increase from $2.1 billion in 2024 to reach $2.9 billion by 2029, at a compound annual growth rate (CAGR) of 6.7% from 2024 through 2029.
Report Includes
- 45 data tables and 42 additional tables
- An analysis of the global market for carotenoids
- Analyses of the global market trends, with sales data for 2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation of the overall market size for carotenoids and their corresponding market share analysis by product, source, application and region
- Coverage of commercial carotenoids with insights into production technologies, market developments and market dynamics
- Information on Annatto, Astaxanthin, Beta-carotene, Beta-apo-8-carotenal, Beta-apo-8-carotenal-ester, Canthaxanthin, Capsanthin and paprika extract, Lutein, Lycopene and Zeaxanthin, and coverage of their production processes, regulatory frameworks and applications
- Discussion of the market potential for carotenoids, and forecasts of this market’s various segments and sub-segments
- In-depth information concerning market drivers, opportunities, challenges and other demographic and economic factors that will drive demand for carotenoids
- Review of the current market status, technology issues, industry value chain, Porter’s Five Forces, competitive landscape and R&D activity
- Discussion of the industry’s ESG challenges and practices
- Analysis of the leading companies’ market shares, proprietary technologies, strategic alliances, and other market strategies
- Profiles of major players in the industry, including BASF, DSM Firmenich, Divi's Laboratories Ltd. and Givaudan
Report Scope
This report provides market projections for the global carotenoids market from 2024 through 2029. It also analyzes the market shares of leading companies. Based on source, the carotenoids market is segmented into synthetic and natural. Based on product, the market is segmented into astaxanthin, beta carotene, lutein, lycopene, canthaxanthin and others. It is further segmented by application into food and beverages, dietary supplements, feed and others. Regional estimates and forecasts include North America, Europe, Asia-Pacific, South America and the rest of the world.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||
| Base year market size | $2.0 billion | ||||||||||||||||
| Market size forecast | $2.9 billion | ||||||||||||||||
| Growth rate | CAGR of 6.7% for the forecast period of 2024-2029 | ||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||
| Segments covered | Source, Application, Product | ||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, South America, Rest of the World | ||||||||||||||||
| Countries covered | U.S., Canada, Mexico, Germany, U.K., France, Italy, Russia, Spain, Poland, Denmark, Netherlands, China, Japan, India, Australia, Thailand, Singapore, Brazil, Argentina, Columbia, Paraguay, Peru, South Africa, UAE, Iran, Saudi Arabia, Egypt, Nigeria, Morocco, Algeria | ||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Increasing Demand for Dietary Supplements
- Growing Animal Feed Industry
- Rising Demand for Natural Color Additives
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Consulting Editor’s Credentials
Melissa Dueck brings more than 25 years of health industry experience to the consulting analyst role with expertise in pharmaceuticals, medical technologies, and hospital operations. Ms. Dueck holds an MBA in Health Care Management, an MPH in Global Health, and is a pending doctoral candidate. She has authored several industry-specific documents and is a well-respected, trusted contributor to the market intelligence community. Her writings are published in magazines, newspapers, and professional journals. She is also an experienced custom market research writer who has worked with a large variety of clients in many fields who require innumerable variations to research documents. Ms. Dueck serves the health and medical community through emergency room medical training, healthcare information system coordination, program implementation and evaluations, and strategic business oversight planning.
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Report Highlights
The global carotenoid market should reach $2.7 billion by 2027 from $2.0 billion in 2022 at a compound annual growth rate (CAGR) of 5.7% for the forecast period of 2022 to 2027.
Report Includes
- 70 data tables and 35 additional tables
- An overview of the global market for carotenoids
- Estimation of the market size and analyses of global market trends, with data from 2021, estimates for 2022 with projections of compound annual growth rates (CAGRs) through 2027
- A review of commercial carotenoids with the objective of providing detailed insight into production technologies, market developments and market dynamics
- Details on Annatto, Astaxanthin, Beta-carotene, Beta-apo-8-carotenal, Beta-apo-8-carotenal-ester, Canthaxanthin, Capsanthin and paprika extract, Lutein, Lycopene and Zeaxanthin, and coverage of their production process, regulatory framework, and applications
- Information concerning the relevance of different production systems, application segments and regional distribution
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances and other key market strategies
- Comprehensive company profiles of the leading players of the industry, including Algatechnologies Ltd., BASF SE, Cyanotech Corp., Kemistar Industries Inc. and Vidya Europe
Report Highlights
The global market for Carotenoids reached $1.5 billion in 2017 and should reach $2.0 billion by 2022, at a compound annual growth rate (CAGR) of 5.7% for the period of 2017-2022
Report Includes
- 82 data tables and 31 additional tables
- An overview of the global market for carotenoids
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
- A review of commercial carotenoids with the objective of providing detailed insight into production technologies, market developments, and market dynamics
- Details on Annatto, Astaxanthin, Beta-carotene, Beta-apo-8-carotenal, Beta-apo-8-carotenal-ester, Canthaxanthin, Capsanthin and paprika extract, Lutein, Lycopene, Zeaxanthin, and others
- Information concerning the relevance of different production systems, application segments, and regional distribution
Report Highlights
The global carotenoid market value was $1.5 billion in 2014. This market is expected to reach nearly $1.8 billion in 2019, with a compound annual growth rate (CAGR) of 3.9%.
Report Includes
- An overview of the global market for carotenoids.
- Analyses of global market trends, with data from 2013, estimates for 2014, and projections of compound annual growth rates (CAGRs) through 2019.
- A review of commercial carotenoids with the objective of providing detailed insight into production technologies, market developments, and market dynamics
- Details on Annatto, Astaxanthin, Beta-carotene, Beta-apo-8-carotenal, Beta-apo-8-carotenal-ester, Canthaxanthin, Capsanthin and paprika extract, Lutein, Lycopene, Zeaxanthin, and others
- Information concerning the relevance of different production systems, application segments, and regional distribution.
Report Highlights
The current market value of commercially used carotenoids is estimated at nearly $1.2 billion in 2010, with a chance to grow to $1.4 billion in 2018 with a compound annual growth rate of 2.3%.
Report Highlights
- The global market for carotenoids was $766 million in 2007. This is expected to increase to $919 million by 2015, a compound annual growth rate (CAGR) of 2.3%.
- Beta-carotene has the largest share of the market. Valued at $247 million in 2007, this segment is expected to be worth $285 million by 2015, a CAGR of 1.8%.
- Most carotenoids are still produced by chemical synthesis and will remain so over the study period.
Report Highlights
- The current worldwide market value of all commercially-used carotenoids is estimated at $887 million for 2004 and expected to rise at an average annual growth rate (AAGR) of 2.9% to just over $1 billion.
- The largest outlet will remain feed, mainly because of the outstanding importance of astaxanthin and canthaxanthin.
- The market value of beta-carotene was estimated at $242 million in 2004. Increasing competition from Asia has resulted in price pressure that will result in a very moderate 2.9% AAGR through 2009. Food still is the most important outlet, where it is widely used as a color.
- The big marketing success of recent years is lutein when it was demonstrated that it could help reduce age-related macular degeneration. This pushed lutein’s market value up to $139 million in 2004.
Report Highlights
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The global carotenoid market is estimated to be $786 million, out of which food applications account for $209 million, feed applications for $462 million and pharmaceutical and OTC applications for $115 million.
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The most important types of carotenoids are astaxanthin, with 28% of total sales, and b-carotene with a similar share. The third largest carotenoid is canthaxantin, with 19% of total sales. All other carotenoids show sales volumes in the range of $10 million to $80 million.
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The global carotenoid market is supposed to increase to over $900 million in 2005. It is expected that the use of carotenoids will grow in all application segments, but mostly in the OTC sector as these products are among the most prominent for health conscious consumers.
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