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Global Canthaxanthin Market: By Source: Natural, Synthetic; By Application: Food and Beverages, Animal Feed, Cosmetics and Personal Care, Pharmaceuticals, Dietary Supplements, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Canthaxanthin Market Outlook

The global canthaxanthin market is supported by the growth of carotenoids market, which attained a value of USD 1.53 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 4.5% to reach USD 2 billion by 2026.

 

Global Canthaxanthin Market

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Increasing Demand for Animal Feeds to Bolster the Canthaxanthin Industry

The growth of the carotenoid market is substantial to the growth of the canthaxanthin industry. Carotenoids are a class of pigments responsible for the production of bright yellow, red, and orange colours in plants, vegetables, and fruits. Canthaxanthin, a keto carotenoid, is most widely used as an animal additive, a key ingredient for aqua-feed and pets. When supplemented in poultry feed, it not only provides yolks a good pigmentation but also improves the bird’s health and increases the life of the egg. Moreover, it reduces carbon footprints and increases sustainability.

Besides being an effective food colour agent, canthaxanthin is also attributed with nutraceutical importance. It has also been a food additive and cosmetic colourant. The rising demand for dietary supplicants in various developed countries such as Japan, South Korea, the United States, Russia, Canada, and Germany, among others, also aids the growth of the market. It also functions as a skin tone enhancement and reduces photosensitivity caused by various diseases, medications, and other conditions. It is used in the treatment of several skin problems, such as melasma, pigmentation disorder, vitiligo, skin lesions, and carotenemia, among others. The extensive oral use of canthaxanthin, however, can lead to various adverse effects on humans, such as blood disorders and partial blindness. However, the pigment, if supplemented moderately, is determined safe for use as an additive for animal feeds by Scientific Committee on Animal Nutrition and Scientific Committee on Food. The rising demand for skin treatments is aiding the market growth of canthaxanthin.

 

Canthaxanthin: Industry Definition and Segmentation

Canthaxanthin, a keto-carotenoid pigment and potent lipid soluble antioxidant, is both naturally occurring and synthetically produced dye. It is identified in sea trout, algae, salmon, mushroom, and several species of flamingo, among others. It can be synthetically produced from acetone. It is generally used in medications, cosmetics, and food colouring. It is also added to animal feed to improve the colour of chicken skins, egg yolks, and salmons, among others. 

 

Global Canthaxanthin Market By Application

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The major sources of canthaxanthin are:

  • Natural
  • Synthetic

The market, on the basis of its applications, can be categorised into:

  • Food and Beverages
  • Animal Feed
  • Cosmetics and Personal Care
  • Pharmaceuticals
  • Dietary Supplements
  • Others

The EMR report looks into the regional markets of canthaxanthin like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Canthaxanthin Market By Region

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Rising Demand for Canthaxanthin in Cosmetics and Skin Care Products to Bolster the Market

Canthaxanthin is used in cosmetics and personal care products. Therefore, increasing demand for cosmetics and personal care products and consumer awareness are some of the significant drivers of the industry growth. Canthaxanthin pills are also used as tanning supplements and treatment of skin diseases. The rising demand for natural food colourants is also aiding the growth of the industry. Moreover, the demand for visually appealing and high-quality poultry products increases the demand for the inclusion of canthaxanthin in animal feed, further accelerating the market growth. The growing demand for natural products is also accelerating the growth of the market. Canthaxanthin not only occurs naturally but also provides strong pigmentation. Additionally, the industry is driven by the feed pigment market as it helps to improve the commercial value of animal feed by imparting colours to produces of animals. As the United States is one of the largest feed pigment markets, the canthaxanthin industry is flourishing robustly in the country and, as a result, contributing to the overall growth canthaxanthin industry.

 

Key Industry Players in the Global Canthaxanthin Market

The report presents a detailed analysis of the following key players in the global canthaxanthin market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions: 

  • BASF SE
  • Koninklijke DSM N.V.
  • Xi'an Wellgreen Technology Co., Ltd.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Source, Application, Region
Breakup by Source Natural, Synthetic
Breakup by Application Food and Beverages, Animal Feed, Cosmetics and Personal Care, Pharmaceuticals, Dietary Supplements, Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered BASF SE, Koninklijke DSM N.V., Xi'an Wellgreen Technology Co., Ltd., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Canthaxanthin Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Canthaxanthin Historical Market (2016-2020) 
    8.3    Global Canthaxanthin Market Forecast (2021-2026)
    8.4    Global Canthaxanthin Market by Source
        8.4.1    Natural
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Synthetic
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Canthaxanthin Market by Application
        8.5.1    Food and Beverages
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Animal Feed
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Cosmetics and Personal Care
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Pharmaceuticals
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Dietary Supplements
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2016-2020)
            8.5.5.3    Forecast Trend (2021-2026)
        8.5.6    Others
    8.6    Global Canthaxanthin Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    BASF SE
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Koninklijke DSM N.V.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Xi'an Wellgreen Technology Co., Ltd.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Canthaxanthin Market: Key Industry Highlights, 2016 and 2026
2.    Global Canthaxanthin Historical Market: Breakup by Source (USD Million), 2016-2020
3.    Global Canthaxanthin Market Forecast: Breakup by Source (USD Million), 2021-2026
4.    Global Canthaxanthin Historical Market: Breakup by Application (USD Million), 2016-2020
5.    Global Canthaxanthin Market Forecast: Breakup by Application (USD Million), 2021-2026
6.    Global Canthaxanthin Historical Market: Breakup by Region (USD Million), 2016-2020
7.    Global Canthaxanthin Market Forecast: Breakup by Region (USD Million), 2021-2026
8.    North America Canthaxanthin Historical Market: Breakup by Country (USD Million), 2016-2020
9.    North America Canthaxanthin Market Forecast: Breakup by Country (USD Million), 2021-2026
10.    Europe Canthaxanthin Historical Market: Breakup by Country (USD Million), 2016-2020
11.    Europe Canthaxanthin Market Forecast: Breakup by Country (USD Million), 2021-2026
12.    Asia Pacific Canthaxanthin Historical Market: Breakup by Country (USD Million), 2016-2020
13.    Asia Pacific Canthaxanthin Market Forecast: Breakup by Country (USD Million), 2021-2026
14.    Latin America Canthaxanthin Historical Market: Breakup by Country (USD Million), 2016-2020
15.    Latin America Canthaxanthin Market Forecast: Breakup by Country (USD Million), 2021-2026
16.    Middle East and Africa Canthaxanthin Historical Market: Breakup by Country (USD Million), 2016-2020
17.    Middle East and Africa Canthaxanthin Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Global Canthaxanthin Market Structure

Key Questions Answered in the Report

The global canthaxanthin market is supported by the growth of carotenoids market, which attained a value of nearly USD 1.53 billion in 2020.

The market is supported by the growth of carotenoids industry, which is projected to grow at a CAGR of 4.5% between 2021 and 2026.

The carotenoids market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach USD 2 billion by 2026, supporting the growth of the canthaxanthin industry.

The market is being driven by rising carotenoid market, cosmetic and skin care market, and rising demand for natural products.

The market is being aided by trends such as rising consumer awareness, increasing use of dietary supplements, and growing demand for high-quality poultry products.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major sources of canthaxanthin in the industry are natural and synthetic.

The leading applications of canthaxanthin in the market are food and beverages, animal feed, cosmetic and personal care, pharmaceuticals, and dietary supplements, among others.

The major players in the industry are BASF SE, Koninklijke DSM N.V., and Xi’an Wellgreen Technology Co., Ltd., among others.

Analyst Review

The global canthaxanthin market is supported by carotenoids market, which attained a value of USD 1.53 billion in 2020, driven by the rising demand of cosmetics and skin care products. Aided by the growing use of dietary supplements and the rising demand of high-quality poultry products, the carotenoids market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 4.5%, supporting the growth of the canthaxanthin industry. The market is supported by carotenoids market, which is projected to reach USD 2 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its sources, the canthaxanthin industry can be segmented into natural and synthetic. On the basis of applications, the industry is divided into food and beverages, animal feed, cosmetic and personal care, pharmaceuticals, and dietary supplements, among others. The major regional markets for canthaxanthin are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include BASF SE, Koninklijke DSM N.V., and Xi’an Wellgreen Technology Co., Ltd., among others

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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