Carotenoids Market Share, Observational Studies by Top Companies & Forecast by 2027
Overview:
The carotenoids market is having a
great run in tandem with the rise in supplement consumption. Changing economy
triggering a demographic shift in the consumer behavior has helped carotenoids
market gain a strong foothold. Urbanization and industrialization have impacted
well and set life on a faster track which is boosting the demand for healthy
and natural food. Its prolific use doesn’t just stop in the food& beverage
segment; it has also percolated top other industries such as animal feed,
dietary supplements, pharmaceuticals, and cosmetics. Mostly found in plants and
organisms, these products are antioxidants and protectthe body from cellular
damage, chronic diseases, and aging. The global carotenoids market is expecting
a significant rise in CAGR during the forecast period (2016-2027), explains
Market Research Future (MRFR) in a detailed study. The report includes an
extensivestudy of the segments and factors that can better the market prospect,
along with market inputs for a holistic understanding of the sector.
Among the major drivers, rising cases
of cancer and eye-related diseases can trigger the carotenoids market growth.
Carotenoids are believed to have anti-carcinogenic properties. Lycopene and
canthaxanthin have positive impacts on prostate, lung cancer, and colon cancer.
Whereas, lutein, astaxanthin, and zeaxanthin can assist with better eyecare. At
the same time, these carotenoids work well as to reduce diabetes threat which
can provide the carotenoids market significant thrust.
Despite such advantages, these
organic pigments can expect some irritants in the form of strict regulations
and approval norms. In addition, unregulated high utilization can adversely
impact the body which can put a leash on the expected carotenoids market
growth.
Segmentation:
The carotenoids
market share can be segmented by type, form, and application.
Based on the type, the global
carotenoids market includes lutein, beta-carotene, alpha-carotene, lycopene,
zeaxanthin, astaxanthin, canthaxanthin and others.
Based on the form, the carotenoids
market can be segmented into powder, capsules, and tablets.
Based on the application the
carotenoids market comprises food & beverages, personal care products,
pharmaceuticals, animal feed, & other applications.
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Regional Analysis:
Region-specific analysis of the
carotenoids market has its finger on namely North America, Europe, Asia Pacific
(APAC), and Rest-of-the-World (RoW).
North America is in a dominant
position. Growing health-related awareness and availability of such carotenoids
are promoting the regional market with great dexterity. At the same time, the
research and development sector is benefitting much from the impacts of such
concerns and investment in the sector is going sky-high.
Europe is enjoying significant
traction as several of the manufacturers are based out of the region. In
addition, people in the region share the same concern for health just like the
population of North America. This can drive the regional market ahead.
The APAC region is giving steep
competition to the other two regions in terms of generating revenue. Market
behemoths are eyeing for growth in this region as it offers infrastructural
benefits at a much cheaper rate.
Competitive Landscape:
Leading players impacting the global
carotenoids market are BASF, Allied
Biotech, Kemin Industries, Koninklijke DSM, Lycored,ExcelVite,D.D. Williamson,
Farbest Brands, FMC, Guangzhou Leader Bio-Technology, Alga technologies, PAT
Vitamins, and Valensa. These companies often employ moves such as merger,
acquisition, collaboration, product launch, and others to further their own
growth, and in the process, they assist a holistic betterment of the
carotenoids market.
In November 2018, Deinove announced
that they are developing their second bio-based carotenoid for the cosmetics
sector. The news came out after their successful launch of Phyt-N-Resist earlier
that year. The first phase of laboratory tests has shown positive results.
In Jun 2018, researchers from the
Brain and Behavioral Sciences at the University of Georgia announced that
lutein, a carotenoid that was effective in bettering eyesight, can improve the
auditory system as well. The research found that lutein and zeaxanthin interact
to maintain an optimal level of the auditory function.
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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