Carotenoids Market is likely to show significant growth between 2016 – 2024

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Global Carotenoids Market size to exceed USD
300mn by 2024
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Key Insights from Carotenoids Market

• Rising consumer and producer preference for
  carotenoids owing to its high value in the
  pharmaceutical, food, and cosmetic industry will
  fuel the industry growth. These products act as a
  vital precursor to amino acids in feedstocks and
  have coloring antioxidant properties, which is
  driving product penetration. Moreover, benefits
  such as reducing the risk of cardiovascular
  diseases, increasing immunity, and improving eye
  health will further promulgate the demand for
  carotenoids infused products.
• Factors such as the prevalence of the chronic
  disease, drug affordability, and favorable
  government policies concerning drug formulations
  will drive product demand across the
  pharmaceutical sector. Carotenoids are a major
  source of antioxidants owing to which it is used
  in various nutraceutical formulations for
  treating high cholesterol and blood pressure.
  Also, the presence of essential micronutrients
  such as vitamin A, vitamin D, etc. will further
  enhance its scope in functional food
  applications.
• Natural carotenoids market is anticipated to
  witness significant gains over 4.5 by 2024.
  Growing demand for natural colors from various
  industries such as cosmetics, pharmaceuticals,
  and food will drive the segment growth.
  Increasing demand for clean label products owing
  to growing consumer awareness regarding ill
  effects of its synthetically derived counterparts
  will further accentuate segment share.

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Continued...

• Beta carotene will witness over 4 CAGR up to
  2024. Growing health awareness, hectic lifestyle
  and early age problems in the current generation
  are driving the consumer to shift towards natural
  food products which will drive the market growth.
  Beta carotene is a red-orange colored pigment
  used abundantly for manufacturing color
  supplements in pink, orange, yellow, and red
  tones.
• Food beverage is expected to register over 20
  market share by 2024. Color is a vital aspect of
  foods and beverages and hence carotenoids are
  majorly used as an additive in the food industry.
  Carotenoids are a bright yellow, red, and orange
  pigment and are majorly used as a food coloring
  agent. Although there are a variety of
  carotenoids available, very few are used
  commercially. Also, the demand for naturally
  produced food is growing rapidly in countries
  such as the US, UK, Australia, and Japan, which
  is further driving the market growth. Europe
  carotenoids market is anticipated to account for
  over 40 market share by 2024. Presence of key
  market players has contributed to the regions
  growth.
• Chr. Hansen, BASF, Royal DSM, FMC Corporation,
  Kemin Industries Inc., Cyanotech Corporation,
  Dohler Group, Allied Biotech Corporation, and
  Divis Laboratories are among the key players
  operating in carotenoids market. The carotenoids
  market share is fragmented in nature due to the
  presence of international, and regional players.

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Europe Carotenoids Market, By Product, 2015
2024, (USD Million)

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