Carotenoids Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source, By Type, By Application, By Formulation, By Region and Competition, 2020-2030F

Description

The Global Carotenoids Market, valued at USD 1.80 Billion in 2024, is projected to experience a CAGR of 4.68% to reach USD 2.37 Billion by 2030. Carotenoids are organic pigments, primarily yellow, orange, or red, produced by plants, algae, and certain microorganisms, acting as accessory pigments in photosynthesis and photoprotection, with some serving as Vitamin A precursors. Main market drivers include the rising consumer demand for natural and clean-label ingredients across diverse industries and increasing health consciousness, which fuels the adoption of carotenoids in nutraceuticals and functional foods due to their antioxidant properties and health.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 1.80 Billion
Market Size 2030	USD 2.37 Billion
CAGR 2025-2030	4.68%
Fastest Growing Segment	Synthetic Carotenoids
Largest Market	North America

Key Market Drivers

Increasing consumer health and wellness awareness profoundly influences the global carotenoids market, as individuals actively seek functional ingredients with scientifically supported health benefits. This trend drives demand for products supporting eye health, immune function, and antioxidant protection. According to the American Botanical Council's 2024 Herb Market Report, retail sales of herbal dietary supplements in the United States reached a record $13.231 billion in 2024, demonstrating robust consumer investment in health-focused products. This directly fuels carotenoid adoption in dietary supplements and functional foods.

Key Market Challenges

A significant challenge for the Global Carotenoids Market stems from the substantial price differential between natural and synthetic carotenoids. This economic disparity often overrides the increasing consumer preference for natural and clean-label ingredients, particularly in cost-sensitive industrial applications. Manufacturers, driven by profitability and competitive pricing pressures, frequently opt for more economical synthetic alternatives where regulations permit.

Key Market Trends

Advancements in sustainable carotenoid extraction and biosynthesis technologies are significantly reshaping the market by introducing environmentally responsible and highly efficient production pathways. These innovations include advanced techniques such as microbial fermentation and algae-based cultivation, which reduce dependence on conventional chemical synthesis and resource-intensive plant extraction methods. This shift aligns with the broader industry movement toward sustainable biomanufacturing.

Key Market Players

Koninklijke DSM N.V.
BASF SE
Chr. Hansen A/S
Cyanotech Corporation
Allied Biotech Corporation
Kemin Industries Inc.
Fuji Chemical Industries Co., Ltd.
Novus International, Inc.
Dohler GmbH
Sensient Technologies Corporation

Report Scope:

In this report, the Global Carotenoids Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Carotenoids Market, By Source:

Synthetic Carotenoids
Natural Carotenoids

Carotenoids Market, By Type:

Astaxanthin
Beta-Carotene
Lutein
Lycopene
Canthaxanthin
Zeaxanthin
Others

Carotenoids Market, By Application:

Feed
Food & Beverages
Dietary Supplements
Cosmetics
Pharmaceuticals

Carotenoids Market, By Formulation:

Beadlet
Powder
Oil Suspension
Emulsion

Carotenoids Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Carotenoids Market.

Available Customizations:

Global Carotenoids Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Carotenoids Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Source (Synthetic Carotenoids, Natural Carotenoids)
- 5.2.2. By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, Others)
- 5.2.3. By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, Pharmaceuticals)
- 5.2.4. By Formulation (Beadlet, Powder, Oil Suspension, Emulsion)
- 5.2.5. By Region
- 5.2.6. By Company (2024)
5.3. Market Map

6. North America Carotenoids Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Source
- 6.2.2. By Type
- 6.2.3. By Application
- 6.2.4. By Formulation
- 6.2.5. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Carotenoids Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Source
    - 6.3.1.2.2. By Type
    - 6.3.1.2.3. By Application
    - 6.3.1.2.4. By Formulation
- 6.3.2. Canada Carotenoids Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Source
    - 6.3.2.2.2. By Type
    - 6.3.2.2.3. By Application
    - 6.3.2.2.4. By Formulation
- 6.3.3. Mexico Carotenoids Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Source
    - 6.3.3.2.2. By Type
    - 6.3.3.2.3. By Application
    - 6.3.3.2.4. By Formulation

7. Europe Carotenoids Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Source
- 7.2.2. By Type
- 7.2.3. By Application
- 7.2.4. By Formulation
- 7.2.5. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Carotenoids Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Source
    - 7.3.1.2.2. By Type
    - 7.3.1.2.3. By Application
    - 7.3.1.2.4. By Formulation
- 7.3.2. France Carotenoids Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Source
    - 7.3.2.2.2. By Type
    - 7.3.2.2.3. By Application
    - 7.3.2.2.4. By Formulation
- 7.3.3. United Kingdom Carotenoids Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Source
    - 7.3.3.2.2. By Type
    - 7.3.3.2.3. By Application
    - 7.3.3.2.4. By Formulation
- 7.3.4. Italy Carotenoids Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Source
    - 7.3.4.2.2. By Type
    - 7.3.4.2.3. By Application
    - 7.3.4.2.4. By Formulation
- 7.3.5. Spain Carotenoids Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Source
    - 7.3.5.2.2. By Type
    - 7.3.5.2.3. By Application
    - 7.3.5.2.4. By Formulation

8. Asia Pacific Carotenoids Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Source
- 8.2.2. By Type
- 8.2.3. By Application
- 8.2.4. By Formulation
- 8.2.5. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Carotenoids Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Source
    - 8.3.1.2.2. By Type
    - 8.3.1.2.3. By Application
    - 8.3.1.2.4. By Formulation
- 8.3.2. India Carotenoids Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Source
    - 8.3.2.2.2. By Type
    - 8.3.2.2.3. By Application
    - 8.3.2.2.4. By Formulation
- 8.3.3. Japan Carotenoids Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Source
    - 8.3.3.2.2. By Type
    - 8.3.3.2.3. By Application
    - 8.3.3.2.4. By Formulation
- 8.3.4. South Korea Carotenoids Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Source
    - 8.3.4.2.2. By Type
    - 8.3.4.2.3. By Application
    - 8.3.4.2.4. By Formulation
- 8.3.5. Australia Carotenoids Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Source
    - 8.3.5.2.2. By Type
    - 8.3.5.2.3. By Application
    - 8.3.5.2.4. By Formulation

9. Middle East & Africa Carotenoids Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Source
- 9.2.2. By Type
- 9.2.3. By Application
- 9.2.4. By Formulation
- 9.2.5. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Carotenoids Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Source
    - 9.3.1.2.2. By Type
    - 9.3.1.2.3. By Application
    - 9.3.1.2.4. By Formulation
- 9.3.2. UAE Carotenoids Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Source
    - 9.3.2.2.2. By Type
    - 9.3.2.2.3. By Application
    - 9.3.2.2.4. By Formulation
- 9.3.3. South Africa Carotenoids Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Source
    - 9.3.3.2.2. By Type
    - 9.3.3.2.3. By Application
    - 9.3.3.2.4. By Formulation

10. South America Carotenoids Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Source
- 10.2.2. By Type
- 10.2.3. By Application
- 10.2.4. By Formulation
- 10.2.5. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Carotenoids Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Source
    - 10.3.1.2.2. By Type
    - 10.3.1.2.3. By Application
    - 10.3.1.2.4. By Formulation
- 10.3.2. Colombia Carotenoids Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Source
    - 10.3.2.2.2. By Type
    - 10.3.2.2.3. By Application
    - 10.3.2.2.4. By Formulation
- 10.3.3. Argentina Carotenoids Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Source
    - 10.3.3.2.2. By Type
    - 10.3.3.2.3. By Application
    - 10.3.3.2.4. By Formulation

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Carotenoids Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Koninklijke DSM N.V.
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. BASF SE
15.3. Chr. Hansen A/S
15.4. Cyanotech Corporation
15.5. Allied Biotech Corporation
15.6. Kemin Industries Inc.
15.7. Fuji Chemical Industries Co., Ltd.
15.8. Novus International, Inc.
15.9. Dohler GmbH
15.10. Sensient Technologies Corporation