Market Research Report
Global Carotenoids Market By Source, By Type, By Application, By Formulation, By Region, Forecast & Opportunities, 2025
|Published by||TechSci Research||Product code||934776|
|Published||Content info||113 Pages
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|Global Carotenoids Market By Source, By Type, By Application, By Formulation, By Region, Forecast & Opportunities, 2025|
|Published: May 1, 2020||Content info: 113 Pages||
Global carotenoids market is expected to grow at a steady CAGR during the forecast period. The global carotenoids market is driven by the increased product demand from various end user industries such as pharmaceutical industry, cosmetic industry, among others. Moreover, growing awareness among the consumers regarding the benefits of consumption of healthy food is anticipated to positively impact the growth of market during the forecast years. Also, increase in research and developmental activities is further expected to bolster the growth of market over the next few years.
The global carotenoids market is segmented based on source, type, application, formulation, company and region. Based on type, the market can be categorized into astaxanthin, beta-carotene, lutein, lycopene, canthaxanthin, and zeaxanthin and others. Out of these, the lutein segment dominated the market in terms of largest market share during 2019 and is expected to maintain its leading position the market during the forecast years as well. This can be ascribed to its use in both, human nutrition as well as animal nutrition products. Moreover, it is widely acceptable on account of its capability to treat age-related eye disorders such as cataracts and macular degeneration. This is estimated to contribute to the growing size of the segment over the coming years. Beta-carotene segment is forecast to grow at a high pace during the next five years on account of its use as a colorant and antioxidant. Moreover, it also acts as a rich source of vitamin A in food, feed, dietary supplements, cosmetics, and medicines, which is anticipated to positively influence the growth of segment over the coming years.
Major players operating in the global carotenoids market include Koninklijke DSM, BASF, Chr. Hansen, Cyanotech Corporation, Allied Biotech Corporation, Lycored Limited, Kemin Industries, Fuji Chemical Industry Co Ltd., Novus International, Dohler Group, Excelvite Sdn. Bhd., DDW the Color House, Farbest Brands, Algatechnologies Ltd., Zhejiang NHU Co. Ltd., E.I.D. Parry, Divi's Laboratories, Dynadis SARL, Vidya Europe SAS, einove SAS and others. The companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions, partnership, agreements, and new developments.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global carotenoids market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global carotenoids market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Food & Beverages
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global carotenoids market.
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: