Home / Food & Beverage / Carotenoids Market By Source (Synthetic, Natural), Product (Beta-carotene, Lutein, Astaxanthin, Capsanthin, Annatto, Canthaxanthin, Lycopene, Beta-Apo-8-carotenal, Zeaxanthin, Beta-apo-8-carotenal-ester), Application (Food & Beverages, Supplements, Animal Feed, Cosmetics) - Size, Share, Growth, Trends and Segment Forecasts to 2022

Carotenoids Market By Source (Synthetic, Natural), Product (Beta-carotene, Lutein, Astaxanthin, Capsanthin, Annatto, Canthaxanthin, Lycopene, Beta-Apo-8-carotenal, Zeaxanthin, Beta-apo-8-carotenal-ester), Application (Food & Beverages, Supplements, Animal Feed, Cosmetics) - Size, Share, Growth, Trends and Segment Forecasts to 2022

Published: Mar 2016 | Report Code: 57750-03-16

The global market for carotenoids is witnessing steady growth due to rise in demand from end user applications and increasing awareness regarding the health benefits associated with it. The global carotenoids marketing is shifting towards naturally sourced carotenoids. This trend is witnessing tremendous growth mainly in North America and European region. Rising demand for natural colorants is one of the major factors driving the market growth. However, emerging economies offers huge market potential.

The market for carotenoids is highly competitive due to presence of numerous players. Moreover, more than half of the market is accounted by two major players DSM and BASF. These manufacturers are facing stiff competition from the Indian and Chinese manufactures of carotenoids. Brand image also plays a vital role in the market as organizations are more concerned about the quality and brand of the product.

Carotenoids Market

 

Purpose of the Report

The purpose of this strategic research study titled “Global Carotenoids Market” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global carotenoids market.

Target Audience

  • Industry investors
  • Raw material suppliers
  • Distributors
  • Manufacturers
  • Retailers
  • Companies who want to enter the market and companies who want to diversify their product portfolio

USP and Key Offerings

This report analyses the worldwide markets for carotenoids in USD million by the following source types – synthetic and natural. This study also provide market analysis by application demand for carotenoids from food & beverages, cosmetics, supplements and animal feed application in terms of revenue. This study also includes analysis by product type including Beta-carotene, Lutein, Astaxanthin, Capsanthin, Annatto, Canthaxanthin, Lycopene, Beta-Apo-8-carotenal, Zeaxanthin and Beta-apo-8-carotenal-ester. The report provides separate comprehensive analytics for the North America, Europe, Asia-Pacific and Rest of World (RoW). Annual estimates and forecasts are provided for the period 2014 through 2022 and market growth rate is calculated from 2015 to 2022. Market data and analytics are derived from primary and secondary research. We have considered demand side approach of the market. Competitive analysis is primarily based on public domain information including company URLs and company annual report.

Other in-depth analyses provided in the report include:

  • Current and future market trends to justify the forthcoming attractive markets within carotenoids market
  • Market drivers, market restraints, and their impact on the market growth
  • In-depth competitive analysis of players present in the market
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global carotenoids market, of growth offering market size and estimates for the period from 2015 to 2022, keeping in mind the above mentioned factors.

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Market Segmentation
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Approach Adopted
1.3.5 Key Points

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Carotenoids Market

Chapter 3 Introduction
3.1 Introduction
3.2 Classification
3.3 Drivers
3.3.1 Health benefits associated with carotenoids
3.3.2 Deficiency may lead to certain side effects
3.3.3 Shift in trend towards natural colorant
3.4 Restraints
3.4.1 Overdose of carotenoids can cause toxic effects
3.4.2 Different government guidelines
3.5 Opportunity
3.5.1 Emerging economies provide huge untapped market potential
3.5.2 Rising demand from the end user applications
3.5.3 Development of different techniques to create higher value natural carotenoids
3.6 Supply Chain
3.7 Porter’s five force analysis
3.7.1 Bargaining power of suppliers
3.7.2 Bargaining power of buyers
3.7.3 Threat of new entrants
3.7.4 Threat of substitutes
3.7.5 Degree of competition

Chapter 4 Global Carotenoids Market, By Source
4.1 Global Carotenoids Market, by Source, (2014 – 2022), (USD Million)
4.1.1 Global Synthetic Carotenoids Market, 2014 – 2022, (USD Million)
4.1.2 Global Natural Carotenoids Market, 2014 – 2022, (USD Million)

Chapter 5 Global Carotenoids Market, By Product Type
5.1 Global Carotenoids Market, by product type
5.2 Beta-carotene
5.2.1 Global Beta-carotene Market, 2014 – 2022, (USD Million)
5.3 Lutein
5.3.1 Global Lutein Market, 2014 – 2022, (USD Million)
5.4 Astaxanthin
5.4.1 Global Astaxanthin Market, 2014 – 2022, (USD Million)
5.5 Capsanthin
5.5.1 Global Capsanthin Market, 2014 – 2022, (USD Million)
5.6 Annatto
5.6.1 Global Annatto Market, 2014 – 2022, (USD Million)
5.7 Canthaxanthin
5.7.1 Global Canthaxanthin Market, 2014 – 2022, (USD Million)
5.8 Lycopene
5.8.1 Global Lycopene Market, 2014 – 2022, (USD Million)
5.9 Beta-Apo-8-carotenal
5.9.1 Global Beta-Apo-8-carotenal Market, 2014 – 2022, (USD Million)
5.10 Zeaxanthin
5.10.1 Global Zeaxanthin Market, 2014 – 2022, (USD Million)
5.11 Beta-apo-8-carotenal-ester
5.11.1 Global Beta-apo-8-carotenal-ester Market, 2014 – 2022, (USD Million)

Chapter 6 Global Carotenoids Market, By Application Type
6.1 Global carotenoids market, applications type Market share (%), 2014 – 2022
6.2 Food & beverages
6.2.1 Global carotenoids demand by food & beverages application, 2014 – 2022, (USD Million)
6.3 Supplements
6.3.1 Global carotenoids demand by supplements application, 2014 – 2022, (USD Million)
6.4 Animal Feed
6.4.1 Global carotenoids demand by animal feed application, 2014 – 2022, (USD Million)
6.5 Cosmetics
6.5.1 Global carotenoids demand by cosmetics application, 2014 – 2022, (USD Million)

Chapter 7 Global Carotenoids Market, Regional Analysis
7.1 Global Carotenoids Market, regional analysis, (2014 – 2022)
7.2 North America
7.3 Europe
7.4 Asia Pacific
7.5 RoW

Chapter 8 Competitive Analysis

Chapter 9 Conclusion

List of Tables

TABLE 1 Market Snapshot: Global Carotenoids Market
TABLE 2 GDP Per capita (USD $), 2011 - 2014
TABLE 3 North America Carotenoids Market, Strategic Snapshot
TABLE 4 North America carotenoid market revenue, by countries, 2014-2022, (USD Million)
TABLE 5 North America carotenoid market revenue, by source, 2014-2022, (USD Million)
TABLE 6 North America carotenoid market revenue, by product type, 2014-2022, (USD Million)
TABLE 7 North America carotenoids market revenue, by applications, 2014-2022, (USD Million)
TABLE 8 Europe Carotenoids Market, Strategic Snapshot
TABLE 9 Europe carotenoid market revenue, by countries, 2014-2022, (USD Million)
TABLE 10 Europe carotenoid market revenue, by source, 2014-2022, (USD Million)
TABLE 11 Europe carotenoid market revenue, by product type, 2014-2022, (USD Million)
TABLE 12 Europe carotenoids market revenue, by applications, 2014-2022, (USD Million)
TABLE 13 Asia Pacific Carotenoids Market, Strategic Snapshot
TABLE 14 Asia Pacific carotenoid market revenue, by countries, 2014-2022, (USD Million)
TABLE 15 Asia Pacific carotenoid market revenue, by source, 2014-2022, (USD Million)
TABLE 16 Asia Pacific carotenoid market revenue, by product type, 2014-2022, (USD Million)
TABLE 17 Asia Pacific carotenoids market revenue, by applications, 2014-2022, (USD Million)
TABLE 18 RoW Carotenoids Market, Strategic Snapshot
TABLE 19 RoW carotenoid market revenue, by countries, 2014-2022, (USD Million)
TABLE 20 RoW carotenoid market revenue, by source, 2014-2022, (USD Million)
TABLE 21 RoW carotenoid market revenue, by product type, 2014-2022, (USD Million)
TABLE 22 RoW carotenoids market revenue, by applications, 2014-2022, (USD Million)
TABLE 23 Competitive Analysis

List of Figures

FIG. 1 Market drivers for carotenoids market: Impact analysis
FIG. 2 Global Natural Color Market, 2014 – 2022, (USD Million)
FIG. 3 Market restraints for carotenoids market: Impact analysis
FIG. 4 Market opportunities for carotenoids market: Impact analysis
FIG. 5 Global Carotenoids Market, by Source, (2014 – 2022), (USD Million)
FIG. 6 Global Synthetic Carotenoids Market, 2014 – 2022, (USD Million)
FIG. 7 Global Natural Carotenoids Market, 2014 – 2022, (USD Million)
FIG. 8 Global Carotenoids Market, by product type, Market attractiveness (2014 – 2022)
FIG. 9 Global Beta-carotene Market, 2014 – 2022, (USD Million)
FIG. 10 Global Lutein Market, 2014 – 2022, (USD Million)
FIG. 11 Global Astaxanthin Market, 2014 – 2022, (USD Million)
FIG. 12 Global Capsanthin Market, 2014 – 2022, (USD Million)
FIG. 13 Global Annatto Market, 2014 – 2022, (USD Million)
FIG. 14 Global Canthaxanthin Market, 2014 – 2022, (USD Million)
FIG. 15 Global Lycopene Market, 2014 – 2022, (USD Million)
FIG. 16 Global Beta-Apo-8-carotenal Market, 2014 – 2022, (USD Million)
FIG. 17 Global Zeaxanthin Market, 2014 – 2022, (USD Million)
FIG. 18 Global Beta-apo-8-carotenal-ester Market, 2014 – 2022, (USD Million)
FIG. 19 Global carotenoids market, applications type Market share (%), 2014 – 2022
FIG. 20 Global carotenoids demand by food & beverages application, 2014 – 2022, (USD Million)
FIG. 21 Global carotenoids demand by supplements application, 2014 – 2022, (USD Million)
FIG. 22 Global carotenoids demand by animal feed application, 2014 – 2022, (USD Million)
FIG. 23 Global carotenoids demand by cosmetics application, 2014 – 2022, (USD Million)
FIG. 24 Global Carotenoids Market, regional analysis, (2014 – 2022)

On the basis of type, the carotenoids market is classified into beta-carotene, lutein, lycopene, astaxanthin, zeaxanthin, canthaxanthin, annatto, capsanthin, Beta-apo-8-carotenal-ester and Beta-Apo-8-carotenal. The market was dominated by the beta-carotene segment and this trend is projected to remain the same from 2015 to 2022.

 Carotenoids Market

There is high demand for carotenoids across the globe, especially for beta-carotene, lutein and astaxanthin. Large health benefits in feed and food has increased the consumption of these carotenoids and is projected to follow the same trend for the next six years. On the other hand, Beta-Apo-8-carotenal followed by lutein is projected to be the fastest-growing market owing to its increasing end-use application.

By application type, market was dominated by the animal feed segment and this trend is projected to remain the same from 2014 to 2022. Carotenoids act more than just being pretty colors and it is also used to improve animal performance. It is vital nutrient for all farmed animals. Carotenoids are only found in plants and cannot be synthesized by livestock; animals’ therefore nutrient requirement of carotenoids is fulfilled by their diet. However, in future this segment is projected to lose out some of its market share.

 

Carotenoids Market

By application type, market was dominated by the animal feed segment and this trend is projected to remain the same from 2014 to 2022. Carotenoids act more than just being pretty colors and it is also used to improve animal performance. It is vital nutrient for all farmed animals. Carotenoids are only found in plants and cannot be synthesized by livestock; animals’ therefore nutrient requirement of carotenoids is fulfilled by their diet. However, in future this segment is projected to lose out some of its market share. Supplements segment is projected to witness the fastest growth rate followed by the cosmetics segment. With aging population people are becoming more conscious and aware regarding age related problems. Due to urbanization and busy lifestyle, there has been a significant increase in self-directed consumers. Consumers now rely more on the alternative channels to self-diagnose themselves and also take preventive measures to keep them healthy. Such practices are significantly increasing the demand for supplements globally, which in turn has increased the carotenoids consumption as well.

On the basis of geography, the global carotenoids market is segmented into following regions,

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia Pacific
  • Rest of the World
    • Brazil
    • Rest of RoW

Europe and North America accounted more than half of the market in terms of revenue as well volume. But in future Asia Pacific regions are projected to witness highest growth rate.

Europe is projected to growth with second largest growth rate. Beta-carotene is still the most prominent carotenoid used in foods and supplements, but due to a changing consumer perception, primarily in Europe, all the carotenoids product is suffering from natural replacements. In parallel, the number of producers of synthetic and algae derived carotenoids rose sharply, which added to the imbalance of supply and demand, driving prices down.

 

Carotenoids Market

In Asia Pacific, India and China is not only the major consumer of carotenoids but also became major producers due to availability of abundant raw material, cheap labor and capabilities to produce carotenoids meeting the international standard and demand. Asia Pacific companies accounted for than 30% share of the pie in company market share. In addition, the European carotenoids products manufacturers are being threatened by cheaper imports from China and India.

 

Carotenoid belongs to a class of natural fat soluble pigments responsible for the deep red, orange and yellow color. In nature, more than 500 carotenoids have been acknowledged and characterized, but only up to 50 dietary carotenoids from vegetables and fruits may be absorbed and metabolized by human. There are two types of carotenoids synthetic and natural both have similar molecular structure but differ in health benefit associated with it.

Due to shift in trend and rise in demand for naturally sourced carotenoids there is a need for different sources of natural carotenoids that optionally include natural antioxidants suitable for their stabilization. Natural carotenoids can obtained either by extraction of plant material or by microbial synthesis; but, only a few plants are widely used for commercial carotenoid production and the productivity of carotenoid synthesis in these plants is relatively low. Microbial production of carotenoids is a more attractive production route.

Carotenoids act as antioxidants within the body, protecting against cellular damage, the effects of aging, and even some chronic diseases. Carotenoids cannot be synthesized by animals or humans; therefore, diet is the only way to get them.  As antioxidants, carotenoids are helpful for fighting cellular damage and caring vision. Moreover, different studies have also acknowledged carotenoids as vital supporters for the cardiovascular system and male reproductive health.

Deficiency of carotenoids doesn’t cause any adverse indications but it can contribute to deficiency of vitamin A. Lack of beta carotene or vitamin A can lead to a low red blood cell count or anaemia. Symptoms of which include impaired vision, impaired organ and tissue function. Deficiency of carotenoids for longer period of time may also increase risk of heart disease and cancer. It can also lead to damage of oxidative cell caused by free radicals. Thus, consumption of carotenoids in recommended quantities is very essential for long and healthy life.

Greater access to information and higher levels of education has resulted in an increase in the consumer concern for safety and health consciousness. The same has thus resulted in a rapid growth in the carotenoids market in India, Brazil and China. Moreover, there are no stringent regulations or ban on production and consumption of synthetic carotenoids. This offers huge market potential for manufacturers of synthetic carotenoids.

In the Asia Pacific market, China and India has not only become an important consumer of carotenoids, but also producers due to its ability to supply ingredients and raw materials, cheap labor with international quality at affordable prices to the growing carotenoids market. In RoW, Brazil, Turkey, and Saudi Arabia are some of the emerging economies which have huge market potential.

With the increase in per capita income, the purchasing power of individuals has also increased resulting in the growing demand for premium priced product such as natural functional foods, natural personal care products among others.

DSM and BASF are the two major players in this market accounting for than half of the market. Some of the other major players are Naturex SA, Chr. Hansen, ZMC, ExcelVite Sdn. Bhd, D.D.Williamson & Co., Inc, Cyanotech Corp and Allied Biotech Corp. Ltd among others.

Choose License Type
Connect With Us
+1-800-361-8290
24/7 Research Support

Credence Webinars

Join Credence analysts to explore the latest IT Trends

view upcoming webinars

Our Clients