Carotenoids Market Strategies, Top Players, Growth Opportunities, Analysis, and Forecast by 2031

Coverage: Carotenoids Market covers analysis By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, and Others), Source (Natural and Synthetic), Formulation (Powder, Beadlet, and Others), Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, Personal Care and Cosmetics, and Others), and Geography

  • Report Code : TIPRE00003963
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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The carotenoids market is expected to register a CAGR of 6% during 2023–2031. The rising demand for natural carotenoids is likely to remain a key trend in the market.

Carotenoids Market Analysis

  • Due to health benefits, the demand for carotenoids is increasing globally.  They play an important role in the treatment of conditions such as cancer, eye disorders, and diabetes.
  • The growing importance of carotenoids in preventive healthcare and their beneficial properties, such as antioxidants and others, have contributed to their increasing demand.
  • The food, beverage, and cosmetics industries and consumers highly prefer natural and clean-label products. With this, the demand for carotenoids is increasing.

Carotenoids Market Overview

  • Carotenoids are beneficial antioxidants that protect people from disease and enhance their immune systems.
  • Carotenoids have also been associated with lowering cancer risk, specifically lung cancer.
  • There are many types of carotenoids, and they fall into two main classes that differ in molecular structure and in the colors they create. Some of the common carotenoids include alpha-carotene, beta-carotene, beta-cryptoxanthin, lutein, lycopene, and zeaxanthin.
  • Further, carotenoids are used in food and beverages, pharmaceuticals and nutraceuticals, personal care and cosmetics, and many other applications. They are used by the food and beverages industry as colorants in various food and drinks.

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Carotenoids Market: Strategic Insights

Carotenoids Market
  • Market Size 2023
    US$ XX Million
  • Market Size 2031
    US$ XX Million

Market Dynamics

GROWTH DRIVERS
  • Increasing Demand for Carotenoids from Animal Feed Industry
FUTURE TRENDS
  • Rising Demand for Natural Carotenoids
OPPORTUNITIES
  • Growth of Personal Care and Cosmetics Industry

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentType
  • Astaxanthin
  • Beta-Carotene
  • Lutein
  • Lycopene
Market SegmentSource
  • Natural and Synthetic
Market SegmentFormulation
  • Powder
  • Beadlet
Market SegmentApplication
  • Food and Beverages
  • Pharmaceuticals and Nutraceuticals
  • Personal Care and Cosmetics
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Carotenoids Market Drivers and Opportunities

Increasing Demand for Carotenoids from Animal Feed Industry

  • The increasing use of carotenoids in animal feed in order to improve animal health has contributed to the market's expansion.
  • Carotenoids are used in animal feed due to their health-promoting properties, including their role as antioxidants to mitigate heat stress and promote animal health.
  • The carotenoids are also used in animal feed for pigmentation and overall product quality in the poultry and livestock industries.

Growth of Personal Care and Cosmetics Industry

  • Carotenoids stimulate fibroblasts to synthesize collagen and elastin, smoothing deep wrinkles. They also help to increase skin density, elasticity, and firmness.
  • Carotenoids repair and regenerate collagen and elastin fibers damaged by UV radiation, thus restoring and improving skin thickness

    .

  • The increasing use of carotenoids and the growth of the cosmetics industry are fuelling the market growth.
  • The rising population, increasing disposable income of people, and the growth of e-commerce platforms, etc. factors are fueling the growth of the cosmetics industry. This is positively impacting the carotenoids market growth.

Carotenoids Market Report Segmentation Analysis

Key segments that contributed to the derivation of the carotenoids market analysis are deployment type and enterprise size.

  • Based on type, the carotenoids market is segmented into astaxanthin, beta-carotene, lutein, lycopene, and others.
  • Based on the source, the carotenoids market is segmented into natural and synthetic.
  • Based on formulation, the carotenoids market is segmented into powder, beadlet, and others.
  • Based on application, the carotenoids market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care and cosmetics, and others.

Carotenoids Market Share Analysis by Geography

  • Carotenoids Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
  • Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering carotenoids market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
  • Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the carotenoids market in these regions.

Carotenoids Market Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX Million
Market Size by 2031 US$ XX Million
Global CAGR (2023 - 2031) 6%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Type
  • Astaxanthin
  • Beta-Carotene
  • Lutein
  • Lycopene
By Source
  • Natural and Synthetic
By Formulation
  • Powder
  • Beadlet
By Application
  • Food and Beverages
  • Pharmaceuticals and Nutraceuticals
  • Personal Care and Cosmetics
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Allied Biotech Corporation
  • Chr Hansen Holding A/S
  • FMC Corporation
  • Döhler Group
  • Cyanotech Corporation
  • Divis Laboratories Ltd
  • Koninklijke DSM N V
  • DDW The Colour House
  • BASF SE
  • and Kemin Industries Inc
  • Carotenoids Market News and Recent Developments

    The carotenoids market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the carotenoids market are listed below:

    • Stauber, a nutraceutical, cosmetic, functional food and beverage, and pet nutrition ingredient supplier, recently announced that it has partnered with Industrial Orgánica to launch the website memoreyez.com, a hub of research and information related to carotenoids and their observed benefits to human health. (Nutraceuticals World/ Company Website/ News/ March 2021)
    • Indian company Divi's Nutraceuticals has launched CaroNat, a naturally sourced food ingredient intended for the dark yellow to orange coloration of a variety of foods and beverages, including the dairy industry. (William Reed Ltd/ Company Website/ News/ September 2021)

    Carotenoids Market Report Coverage and Deliverables

    The “Carotenoids Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Carotenoids market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Carotenoids market trends, as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed Porter’s Five Forces and SWOT analysis
    • Carotenoids market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the carotenoids market
    • Detailed company profiles
    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset
    Report Coverage

    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered

    Segment Covered

    This text is related
    to segments covered.

    Regional Scope

    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope

    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    What is the expected CAGR of the carotenoids market?

    The global carotenoids market is expected to grow at a CAGR of 6% during the forecast period 2023 - 2031.

    What are the driving factors impacting the global carotenoids market?

    The increasing demand for carotenoids from the animal feed industry is driving the carotenoids market growth.

    What are the future trends of the carotenoids market?

    The rising demand for natural carotenoids is likely to remain a key trend in the market.

    Which are the leading players operating in the carotenoids market?

    The leading players operating in the carotenoids market are Allied Biotech Corporation, Chr Hansen Holding A/S, FMC Corporation, Döhler Group, Cyanotech Corporation, Divis Laboratories Ltd, Koninklijke DSM N V, DDW The Colour House, BASF SE, and Kemin Industries Inc.

    What are the deliverable formats of the carotenoids market report?

    The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.

    What are the options available for the customization of this report?

    Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

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    The List of Companies

    1. Allied Biotech Corporation
    2. BASF SE
    3. Chr. Hansen Holding A/S
    4. Cyanotech Corporation
    5. DDW The Colour House
    6. Divi's Laboratories Limited
    7. Dohler
    8. ExcelVite Inc.
    9. Kemin Industries, Inc.,
    10. Koninklijke DSM N.V.