Sale

Carotenoids Market

Global Carotenoids Market Size, Share, Growth, Forecast: By Product Type: Beta-Carotene, Astaxanthin, Lutein, Lycopene, Zeaxanthin, Canthaxanthin, Others; By Source: Synthetic, Natural; By Formulation; By Application; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Carotenoids Market Outlook

The global carotenoids market attained a value of about USD 1.95 billion in 2023. The market is estimated to grow at a CAGR of 4.1% in the forecast period of 2024-2032 to reach a value of nearly USD 2.80 billion by 2032.

 

Global Carotenoids Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Rising Health Awareness Across the World has Fuelled the Demand for Carotenoids

Increasing disorders like eye disorder, cancer, and diabetes, among others, are expected to fuel the demand for carotenoids, since it helps in boosting the immune system and reduces inflammation, and works as an antioxidant against several diseases. Moreover, carotenoids have anti-acne properties, and further help with pigmentation, anti-ageing and skin repair, leading to its use in the skincare products. Therefore, the rising awareness and demand for skincare products are likely to enhance the market growth in the forecast period. Further, the rising use of the product in food and beverages industry as a colourant is providing impetus to the market growth.

Geographically, the Europe region registered substantial growth over the past few years on account of the surging demand for health supplements, along with the rising demand for carotenoids to be used in animal feed. The market is also expected to be driven by the growing demand for quality food among consumers.

 

Carotenoids: Market Segmentation

Carotenoids are referred to the pigments present in plants, algae, and photosynthetic bacteria. These pigments generate bright yellow, red, and orange colours in vegetables, plants, and fruits. It acts as an antioxidant for humans.

 

Global Carotenoids Market by Segments

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Based on product type, the market is categorised into:

  • Beta-Carotene 
  • Astaxanthin 
  • Lutein 
  • Lycopene 
  • Zeaxanthin 
  • Canthaxanthin 
  • Others

On the basis of sources, the market is segmented into:

  • Synthetic
  • Natural

By formulation, the market is divided into:

  • Oil Suspension 
  • Powder 
  • Emulsion 
  • Beadlets

Based on application, the market is segregated into:

  • Animal Feed 
  • Dietary Supplements 
  • Food and beverages
  • Cosmetics 
  • Pharmaceuticals

The regional markets for carotenoids can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Carotenoids Market by Region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

The Growing Animal Feed Application to Drive the Market for Carotenoids

The extensive usage of carotenoids in animal nutrition products is augmenting the market growth. Shrimp, poultry, and fish do not have the ability to produce carotenoids on their own, which is why they require carotenoids in their feed. Carotenoids are incorporated into feeds to pigment egg yolks, broiler skin, fish, and crustaceans, leading to their healthy diet. Many companies have introduced innovative product lines for carotenoids, which is enhancing the market growth. For instance, Lucantin® and Lucarotin® brands of BASF offer cost-effective, stable, and highly bioavailable carotenoids in their product line.

In addition, beta-carotene is utilised as an antioxidant and a colourant, and act as a rich source of vitamin A in food, dietary supplements, feed, cosmetics, and medicines, which is propelling the market for carotenoids. Further, the use of beta-carotene to improve the fertility of swine, horses, and cattle, is also bolstering the market growth of carotenoids. According to the Journal of the National Cancer Institute, the consumption of fruits and vegetables rich in particular carotenoids and vitamins may decrease the risk of premenopausal breast cancer. In line with this, several studies and research pertaining to the use of carotenoids for various diseases are expected to further the market development over the forecast period.

 

Key Industry Players in the Global Carotenoids Market

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

  • BASF SE
  • Allied Biotech Corporation
  • Divi's Laboratories Limited
  • Lycored Corp.
  • Cyanotech Corporation
  • 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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Source
  • Formulation
  • Application
  • Region
Breakup by Product Type
  • Beta-Carotene 
  • Astaxanthin 
  • Lutein 
  • Lycopene 
  • Zeaxanthin 
  • Canthaxanthin 
  • Others
Breakup by Source
  • Synthetic
  • Natural
Breakup by Formulation
  • Oil Suspension 
  • Powder 
  • Emulsion 
  • Beadlets
Breakup by Application
  • Animal Feed 
  • Dietary Supplements 
  • Food and beverages
  • Cosmetics 
  • Pharmaceuticals
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BASF SE
  • Allied Biotech Corporation
  • Divi's Laboratories Limited
  • Lycored Corp.
  • Cyanotech Corporation
  • 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.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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    Market Snapshot
    6.1    Global
    6.2    Region
7    Opportunities and Challenges in the Market
8    Global Carotenoids Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Carotenoids Historical Market (2018-2023) 
    8.3    Global Carotenoids Market Forecast (2024-2032)
    8.4    Global Carotenoids Market by Product Type
        8.4.1    Beta-Carotene
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Astaxanthin
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Lutein
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Lycopene
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Zeaxanthin
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
        8.4.6    Canthaxanthin
            8.4.6.1    Historical Trend (2018-2023)
            8.4.6.2    Forecast Trend (2024-2032)
        8.4.7    Others
    8.5    Global Carotenoids Market by Source
        8.5.1    Synthetic
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Natural
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Carotenoids Market by Formulation
        8.6.1    Oil Suspension
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Powder
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Emulsion
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Beadlets
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
    8.7    Global Carotenoids Market by Application
        8.7.1    Animal Feed
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Dietary Supplements
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Food and Beverages
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Cosmetics
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Pharmaceuticals
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
    8.8    Global Carotenoids Market by Region     
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Carotenoids Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Carotenoids Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5   Others
11    Asia Pacific Carotenoids  Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Carotenoids Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Carotenoids Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis 
16    Trade Data Analysis (HS Code- 320419)

    16.1    Major Exporting Countries
        16.1.1    By Value
        16.1.2    By Volume
    16.2    Major Importing Countries
        16.2.1    By Value
        16.2.2    By Volume 
17    Price Analysis
18    Competitive Landscape

    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    BASF SE
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Allied Biotech Corporation
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Divi's Laboratories Limited
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Lycored Corp. 
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Cyanotech Corporation
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Others
19    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Carotenoids Market: Key Industry Highlights, 2018 and 2032
2.    Global Carotenoids Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3.    Global Carotenoids Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4.    Global Carotenoids Historical Market: Breakup by Source (USD Billion), 2018-2023
5.    Global Carotenoids Market Forecast: Breakup by Source (USD Billion), 2024-2032
6.    Global Carotenoids Historical Market: Breakup by Formulation (USD Billion), 2018-2023
7.    Global Carotenoids Market Forecast: Breakup by Formulation (USD Billion), 2024-2032
8.    Global Carotenoids Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Carotenoids Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Carotenoids Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Carotenoids Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Carotenoids Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Carotenoids Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Carotenoids Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Carotenoids Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Carotenoids Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Carotenoids Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Carotenoids Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Carotenoids Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Carotenoids Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Carotenoids Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Major Exporting Countries by Value
23.    Major Importing Countries by Value
24.    Major Exporting Countries by Volume
25.    Major Importing Countries by Volume
26.    Historical Price Trends and Forecast 2018-2028
27.    Global Carotenoids Market Structure

Key Questions Answered in the Report

The global carotenoids market attained a value of about USD 1.95 billion in 2023.

The market is estimated to grow at a CAGR of 4.1% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach nearly USD 2.80 billion by 2032.

The major industry drivers include the growing demand for carotenoids for health treatments, increasing usage in dietary supplements, and the rising significance of food quality.

The key market trend guiding the growth of the industry includes shifting consumer preference toward better healthcare products, surging usage of carotenoids in pharmaceutical products, and various product launches by the key players.

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

The different product types of the market include beta-carotene, astaxanthin, lutein, lycopene, zeaxanthin, and canthaxanthin, among others.

The various sources for carotenoids in the market include natural and synthetic.

The significant formulations include oil suspension, powder, emulsion, and beadlets.

The different applications of the product are animal feed, dietary supplements, food and beverages, cosmetics, and pharmaceuticals.

The key market players are BASF SE, Allied Biotech Corporation, Divi's Laboratories Limited, Lycored Corp., and Cyanotech Corporation, among others.

Analyst Review

The global carotenoids market attained a value of about USD 1.95 billion in 2023, driven by the increasing demand for carotenoids in the cosmetics industry and animal feed industry. Aided by the rising efforts taken by industry players to boost the production of carotenoids, the market is estimated to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 4.1%. The market is further assessed to attain nearly USD 2.80 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The market for carotenoids, by product type, is divided into beta-carotene, astaxanthin, lutein, lycopene, zeaxanthin, and canthaxanthin, among others. On the basis of source, the market is categorised into synthetic and natural. Based on formulation, the market is segmented into oil suspension, powder, emulsion, and beadlets. Based on application, the market is classified into animal feed, dietary supplements, food and beverages, cosmetics, and pharmaceuticals. The major regional markets for carotenoids 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, Allied Biotech Corporation, Divi's Laboratories Limited, Lycored Corp., and Cyanotech Corporation, 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.

Purchase Full Report

Mini Report

$ 2199     $1999
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3299     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
most popular

Five User License

$ 4399     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5499     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER