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PUBLISHER: IMARC | PRODUCT CODE: 1370314
PUBLISHER: IMARC | PRODUCT CODE: 1370314
Carotenoids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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Abstract
Market Overview:
The global carotenoids market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.
Carotenoids refer to various organic pigments that are responsible for bright red, yellow and orange hues in fruits and vegetables. They are a class of phytonutrients that are essential for plant health and are a rich source of vitamin A and antioxidants. Carotenoids can be synthetically produced as well as they are found in plants, algae, bacteria and fungi. Some of the other major natural sources of carotenoids include papaya, pineapple, pumpkin, apricot, carrot, orange and corn. Alpha and beta carotene, beta-cryptoxanthin, lutein, zeaxanthin and lycopene are some of the commonly used carotenoids that are added as a colorant in food, cosmetics and animal feed products. In humans, they aid in treating cancer, improving vision and supporting physical growth and development.
Global Carotenoids Market Trends:
The increasing prevalence of cancer and other age-related ophthalmic disorders is one of the key factors driving the growth of the market. Furthermore, the widespread utilization of carotenoids in dietary supplements and other pharmaceutical products is also providing a boost to the market growth. Owing to increasing health consciousness and rising geriatric population across the globe, there is a shift in the consumer preferences toward preventive healthcare products that can act as antioxidants and protect the body from chronic diseases, cellular damage and detrimental effects of aging. Carotenoids are extensively utilized to improve animal nutrition and feed products to enhance their fertility and overall immunity. This, along with various technological advancements in extraction methods and the growing demand for natural coloring, is projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global carotenoids market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, source, formulation and application.
Breakup by Product Type:
Beta-Carotene
Astaxanthin
Lutein
Lycopene
Zeaxanthin
Canthaxanthin
Others
Breakup by Source:
Synthetic
Natural
Breakup by Formulation:
Oil Suspension
Powder
Emulsion
Others
Breakup by Application:
Animal Feed
Dietary Supplements
Food and Beverages
Cosmetics
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Allied Biotech Corporation, BASF SE, Chr. Hansen Holding A/S, Cyanotech Corporation, DDW The Color House, Deinove SAS, Divi's Laboratories Limited, Dohler Group, Excelvite Sdn. Bhd., Kemin Industries, Lycored Limited, Naturex SA (Givaudan SA), Vidya Europe SAS, Zhejiang NHU Co. Ltd., etc.
Key Questions Answered in This Report:
- How has the global carotenoids market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global carotenoids market?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the source?
- What is the breakup of the market based on the formulation?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global carotenoids market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A2271
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Carotenoids Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product Type
- 6.1 Beta-Carotene
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Astaxanthin
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Lutein
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Lycopene
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Zeaxanthin
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Canthaxanthin
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
- 6.7 Others
- 6.7.1 Market Trends
- 6.7.2 Market Forecast
7 Market Breakup by Source
- 7.1 Synthetic
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Natural
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Formulation
- 8.1 Oil Suspension
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Powder
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Emulsion
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Application
- 9.1 Animal Feed
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Dietary Supplements
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Food and Beverages
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Cosmetics
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Others
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Indicators
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Allied Biotech Corporation
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.2 BASF SE
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Chr. Hansen Holding A/S
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 Cyanotech Corporation
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 DDW The Color House
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Deinove SAS
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.7 Divi's Laboratories Limited
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Dohler Group
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Excelvite Sdn. Bhd.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 Kemin Industries
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Lycored Limited
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.12 Naturex SA (Givaudan SA)
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.13 Vidya Europe SAS
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.14 Zhejiang NHU Co. Ltd.
- 15.3.14.1 Company Overview
- 15.3.14.2 Product Portfolio
- 15.3.1 Allied Biotech Corporation
Product Code: SR112023A2271
List of Figures
- Figure 1: Global: Carotenoids Market: Major Drivers and Challenges
- Figure 2: Global: Carotenoids Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Carotenoids Market: Breakup by Product Type (in %), 2022
- Figure 4: Global: Carotenoids Market: Breakup by Source (in %), 2022
- Figure 5: Global: Carotenoids Market: Breakup by Formulation (in %), 2022
- Figure 6: Global: Carotenoids Market: Breakup by Application (in %), 2022
- Figure 7: Global: Carotenoids Market: Breakup by Region (in %), 2022
- Figure 8: Global: Carotenoids Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 9: Global: Carotenoids (Beta-Carotene) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Carotenoids (Beta-Carotene) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Carotenoids (Astaxanthin) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Carotenoids (Astaxanthin) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Carotenoids (Lutein) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Carotenoids (Lutein) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Carotenoids (Lycopene) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Carotenoids (Lycopene) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Carotenoids (Zeaxanthin) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Carotenoids (Zeaxanthin) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Carotenoids (Canthaxanthin) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Carotenoids (Canthaxanthin) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Carotenoids (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Carotenoids (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Carotenoids (Synthetic) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Carotenoids (Synthetic) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Carotenoids (Natural) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Carotenoids (Natural) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Carotenoids (Oil Suspension) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Carotenoids (Oil Suspension) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Carotenoids (Powder) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Carotenoids (Powder) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Carotenoids (Emulsion) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Carotenoids (Emulsion) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Carotenoids (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Carotenoids (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Global: Carotenoids (Animal Feed) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Global: Carotenoids (Animal Feed) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Global: Carotenoids (Dietary Supplements) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Global: Carotenoids (Dietary Supplements) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Global: Carotenoids (Food and Beverages) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Global: Carotenoids (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Global: Carotenoids (Cosmetics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Global: Carotenoids (Cosmetics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Global: Carotenoids (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Global: Carotenoids (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: North America: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: North America: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: United States: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: United States: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Canada: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Canada: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Asia Pacific: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Asia Pacific: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: China: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: China: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Japan: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Japan: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: India: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: India: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: South Korea: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: South Korea: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Australia: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Australia: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Indonesia: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Indonesia: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Others: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Others: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Europe: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Europe: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Germany: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Germany: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: France: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: France: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: United Kingdom: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: United Kingdom: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Italy: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Italy: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Spain: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Spain: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Russia: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Russia: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Others: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 82: Others: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 83: Latin America: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 84: Latin America: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 85: Brazil: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 86: Brazil: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 87: Mexico: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 88: Mexico: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 89: Others: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 90: Others: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 91: Middle East and Africa: Carotenoids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 92: Middle East and Africa: Carotenoids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 93: Global: Carotenoids Industry: SWOT Analysis
- Figure 94: Global: Carotenoids Industry: Value Chain Analysis
- Figure 95: Global: Carotenoids Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Carotenoids Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Carotenoids Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
- Table 3: Global: Carotenoids Market Forecast: Breakup by Source (in Million US$), 2023-2028
- Table 4: Global: Carotenoids Market Forecast: Breakup by Formulation (in Million US$), 2023-2028
- Table 5: Global: Carotenoids Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 6: Global: Carotenoids Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Carotenoids Market: Competitive Structure
- Table 8: Global: Carotenoids Market: Key Players
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