A recent report published by Infinium Global Research on carotenoids market provides in-depth analysis of segments and sub-segments in the global as well as regional carotenoids market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional carotenoids market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global carotenoids market. According to the report, the global carotenoids market is projected to grow at a CAGR of 3.4% over the forecast period of 2019-2025.
Carotenoids are lipophilic plants pigments found in the plants, photosynthetic bacteria, algae, and others. There are around 600 known carotenoids and 40 are useful for living beings. The common dietary carotenoids which are more useful are beta-carotene, lutein, lycopene, astaxanthin, zeaxanthin, canthaxanthin and others. These carotenoids are the rich source of the anti-oxidants and have numerous health benefits such as helps to maintain good eye health, cardiovascular health, and others. Further, regular consumption of the carotenoids based fruits and vegetable carrots, mangoes, tomatoes, lums, and other fruits and vegetable helps to reduce the several chronic diseases like obesity, lung cancer, breast cancer, and other diseases.
The growing awareness about the health benefits of the carotenoids based products among the millennial consumers is helping to grow the demand of the carotenoids products around the globe. Further, the growing disposable income among the young and middle-class consumers in developing consumers and, simultaneously growing health consciousness among them is motivating them to consume carotenoids based products to improve their health. However, lack of awareness among a large number of consumers about the health benefits of carotenoids is restricting the growth of the market in the near future.
Geographically, the carotenoids market is segmented into four regions, namely North America, Europe, the Asia-Pacific, and RoW. North America is the largest player of the carotenoids market, owing to the presence of a large number of pharmaceutical companies in this region, who are engaged in the production of the different type of carotenoid-based pharmaceutical products. Further, the presence of a large number of the patient pool, who are suffering from a different type of chronic diseases is providing a fertile ground for the growth of this market. The Asia-Pacific’s carotenoids market is expected to grow at the highest CAGR, owing to the growing demand of the carotenoids based products among the young and middle-class consumer for proper maintenance of the health.
The report on global carotenoids market covers segments such as type, application, and formulation type. On the basis of type, the sub-markets include beta-carotene, lutein, lycopene, astaxanthin, zeaxanthin, canthaxanthin, and other carotenoids. On the basis of application, the sub-markets include supplements, food, feed, cosmetics, and pharmaceuticals. On the basis of formulation type, the sub-markets include oil suspensions, beadlets, powders, and emulsions.
The report provides profiles of the companies in the market such as ExcelVite Sdn. Bhd., Allied Biotech Corporation, Döhler, D. D. Williamson Ireland Ltd., Kemin Industries, Cyanotech Corporation, FMC Corporation, Chr. Hansen A/S, Koninklijke DSM N.V., and BASF SE.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of carotenoids market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.