Carotenoids Market size is projected to reach USD 2.1 Billion units by 2027 from an estimated USD 1.5 Billion unit in 2019, growing at a CAGR of 4.3% globally.
Carotenoids also called Tetraterpenoids, are yellow, orange, and red organic pigments that are produced by plants and algae, as well as several bacteria, and fungi. Carotenoids give the characteristic color to pumpkins, carrots, parsnips, corn, tomatoes, canaries, flamingos, salmon, lobster, shrimp, and daffodils. Carotenoids can be produced from fats and other basic organic metabolic building blocks by all these organisms. The only land dwelling arthropods known to produce carotenoids are aphids, and spider mites, which acquired the ability and genes from fungi. It is also produced by endosymbiotic bacteria in whiteflies. Carotenoids from the diet are stored in the fatty tissues of animals, and exclusively carnivorous animals obtain the compounds from animal fat. In the human diet, absorption of carotenoids is improved when consumed with fat in a meal. Cooking carotenoid-containing vegetables in oil and shredding the vegetable both increase carotenoid bioavailability.
Carotenoid also continues to witness significant demand in the cosmetic industry attributed to increasing vitamin A properties. These factors are expected to impact growth of the global carotenoids market during the forecast period.
The Major Players In The Carotenoids Market Include:
Allied Biotech, BASF SE,Dohler GmbH, FMC Corporation, Sensient Technologies, Chr Hansen Holdings A/S, Kemin Industries, Algatech Tech, Novus International Inc.,DDW The Color House ,Lycored Ltd, Fuji Chemical Industry Co. Ltd., E.I.D. Parry, Divi's Laboratories, Farbest Brands, Deinove SAS, and others
Market has segmented the global Carotenoids market on the basis of type, application, and region:
The Carotenoids market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
By Type:
• Astaxanthin
• Beta-Carotene
• Canthaxanthin
• Capsanthin
• Zeaxanthin
• Lutein
• Lycopene
• And Others
By Application:
• Food And Beverages
• Animal Feed
• Personal Care And Cosmetics
• Dietary Supplements
• And Pharmaceuticals
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By Regional Outlook (Revenue, USD Billion, 2017 – 2028)
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)
Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, Carotenoids Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.
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Report covered the major key points:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 7years, along with 5 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
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