Market Overview:
The global carotenoids for human use market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for carotenoids from the food, pharmaceuticals, and cosmetics industries. Carotenoids are used as natural colorants and antioxidants in these industries. The type segment of the global carotenoids for human use market is dominated by beta-carotene, followed by astaxanthin and canthaxanthin. Beta-carotene is mainly used as a natural colorant in food products such as juices, dairy products, bakery items, etc., whereas astaxanthin is used as an antioxidant additive in dietary supplements and functional foods. The application segment of this market is dominated by food applications, followed by pharmaceuticals and cosmetics applications.
Product Definition:
A carotenoid is a pigment that is found in many plants and fruits. They are responsible for the yellow, orange, and red colors of some fruits and vegetables. Carotenoids are important for human use because they are believed to help protect against diseases such as cancer.
Astaxanthin:
Astaxanthin is a powerful antioxidant and it's ability to protect the cells from damage caused by oxidation is the key growth factor in this market. Astaxanthin can be produced by both natural and artificial methods, however, natural astaxanthin has more benefits than its synthetic counterpart.
Beta-Carotene:
Beta-carotene is a chemical that acts as an antioxidant and helps protect the body against chronic diseases such as cancer, heart disease, and age-related disorders. It also aids in weight loss by helping burn calories in the body. The demand for beta-carotene has been on a rise over the past few years owing to its health benefits which has led to an increase in its consumption across various industries including food & beverage, animal feed additives among others.
Application Insights:
The food application segment led the global carotenoids for human use market in 2017, accounting for over 60% of the revenue share. The increasing demand for processed and ready-to-eat foods is expected to be a major factor driving product demand in this segment. Carotenoids are found naturally in many fruits and vegetables, which help maintain a healthy body by providing essential nutrients such as vitamins A & C, folate & fiber. Ascorbic acid, canthaxanthin and lutein being among the highest selling products owing to their high nutritional value coupled with low prices makes them highly competitive against other health supplements on account of these factors; they are likely to remain key players across various regions including North America, Europe Asia Pacific Oceania throughout the forecast period.
Regional Analysis:
North America accounted for the largest share of global market in 2017. The region is expected to maintain its dominance over the forecast period owing to increasing consumer awareness regarding health and nutritional benefits of carotenoids, presence of a large number of industry players, and easy availability of raw materials such as canthaxanthin.
Asia Pacific is anticipated to be the fastest-growing regional market from 2018 to 2030 due to high demand for dietary supplements among middle-aged & elderly population in countries such as China, India, Japan and South Korea. In addition, growing food processing sector coupled with rising disposable income will drive product demand further. Furthermore, increasing prevalence diabetes among people will create growth opportunities for carotenoids in Asia Pacific region over the forecast period.
Growth Factors:
- Increasing awareness about the health benefits of carotenoids is expected to drive the demand for carotenoids for human use over the forecast period.
- Rising prevalence of chronic diseases such as cancer, heart disease, and diabetes is anticipated to boost the demand for carotenoids as a dietary supplement in order to prevent these diseases.
- Growing geriatric population is also projected to fuel the growth of this market during the forecast period owing to their increased vulnerability towards chronic diseases that can be prevented by consuming carotenoids supplements on a regular basis.
- The increasing popularity of functional foods and nutraceuticals is also expected to propel demand for carotenoid supplements over the next few years. This will be mainly due to their ability improve overall health and well-being among consumers across all age groups. 5) Technological advancements in extraction and purification processes are likelyto result in lower production costsofcarotenoiddrugs, which would make them more affordablefor consumers worldwide
Scope Of The Report
Report Attributes
Report Details
Report Title
Carotenoids for Human Use Market Research Report
By Type
Astaxanthin, Beta-Carotene, Canthaxanthin, Lycopene, Lutein, Other
By Application
Food, Pharmaceuticals, Cosmetics
By Companies
DSM, BASF, Allied Biotech, Chenguang Biotech, FMC, Dohler, Chr. Hansen, Carotech, DDW, Excelvite, DSM, Tian Yin, Kemin
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Carotenoids for Human Use Market Report Segments:
The global Carotenoids for Human Use market is segmented on the basis of:
Types
Astaxanthin, Beta-Carotene, Canthaxanthin, Lycopene, Lutein, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food, Pharmaceuticals, Cosmetics
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- DSM
- BASF
- Allied Biotech
- Chenguang Biotech
- FMC
- Dohler
- Chr. Hansen
- Carotech
- DDW
- Excelvite
- DSM
- Tian Yin
- Kemin
Highlights of The Carotenoids for Human Use Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Astaxanthin
- Beta-Carotene
- Canthaxanthin
- Lycopene
- Lutein
- Other
- By Application:
- Food
- Pharmaceuticals
- Cosmetics
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Carotenoids for Human Use Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Carotenoids are a type of antioxidant that can protect cells from damage caused by free radicals. They are found in many fruits and vegetables, including carrots, sweet potatoes, and apricots. Some carotenoids have been shown to help prevent heart disease, cancer, and other diseases.
Some of the key players operating in the carotenoids for human use market are DSM, BASF, Allied Biotech, Chenguang Biotech, FMC, Dohler, Chr. Hansen, Carotech, DDW, Excelvite, DSM, Tian Yin, Kemin.
The carotenoids for human use market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Carotenoids for Human Use Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Carotenoids for Human Use Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Carotenoids for Human Use Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Carotenoids for Human Use Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Carotenoids for Human Use Market Size & Forecast, 2018-2028 4.5.1 Carotenoids for Human Use Market Size and Y-o-Y Growth 4.5.2 Carotenoids for Human Use Market Absolute $ Opportunity
Chapter 5 Global Carotenoids for Human Use Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Carotenoids for Human Use Market Size Forecast by Type
5.2.1 Astaxanthin
5.2.2 Beta-Carotene
5.2.3 Canthaxanthin
5.2.4 Lycopene
5.2.5 Lutein
5.2.6 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Carotenoids for Human Use Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Carotenoids for Human Use Market Size Forecast by Applications
6.2.1 Food
6.2.2 Pharmaceuticals
6.2.3 Cosmetics
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Carotenoids for Human Use Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Carotenoids for Human Use Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Carotenoids for Human Use Analysis and Forecast
9.1 Introduction
9.2 North America Carotenoids for Human Use Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Carotenoids for Human Use Market Size Forecast by Type
9.6.1 Astaxanthin
9.6.2 Beta-Carotene
9.6.3 Canthaxanthin
9.6.4 Lycopene
9.6.5 Lutein
9.6.6 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Carotenoids for Human Use Market Size Forecast by Applications
9.10.1 Food
9.10.2 Pharmaceuticals
9.10.3 Cosmetics
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Carotenoids for Human Use Analysis and Forecast
10.1 Introduction
10.2 Europe Carotenoids for Human Use Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Carotenoids for Human Use Market Size Forecast by Type
10.6.1 Astaxanthin
10.6.2 Beta-Carotene
10.6.3 Canthaxanthin
10.6.4 Lycopene
10.6.5 Lutein
10.6.6 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Carotenoids for Human Use Market Size Forecast by Applications
10.10.1 Food
10.10.2 Pharmaceuticals
10.10.3 Cosmetics
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Carotenoids for Human Use Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Carotenoids for Human Use Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Carotenoids for Human Use Market Size Forecast by Type
11.6.1 Astaxanthin
11.6.2 Beta-Carotene
11.6.3 Canthaxanthin
11.6.4 Lycopene
11.6.5 Lutein
11.6.6 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Carotenoids for Human Use Market Size Forecast by Applications
11.10.1 Food
11.10.2 Pharmaceuticals
11.10.3 Cosmetics
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Carotenoids for Human Use Analysis and Forecast
12.1 Introduction
12.2 Latin America Carotenoids for Human Use Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Carotenoids for Human Use Market Size Forecast by Type
12.6.1 Astaxanthin
12.6.2 Beta-Carotene
12.6.3 Canthaxanthin
12.6.4 Lycopene
12.6.5 Lutein
12.6.6 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Carotenoids for Human Use Market Size Forecast by Applications
12.10.1 Food
12.10.2 Pharmaceuticals
12.10.3 Cosmetics
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Carotenoids for Human Use Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Carotenoids for Human Use Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Carotenoids for Human Use Market Size Forecast by Type
13.6.1 Astaxanthin
13.6.2 Beta-Carotene
13.6.3 Canthaxanthin
13.6.4 Lycopene
13.6.5 Lutein
13.6.6 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Carotenoids for Human Use Market Size Forecast by Applications
13.10.1 Food
13.10.2 Pharmaceuticals
13.10.3 Cosmetics
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Carotenoids for Human Use Market: Competitive Dashboard
14.2 Global Carotenoids for Human Use Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 DSM
14.3.2 BASF
14.3.3 Allied Biotech
14.3.4 Chenguang Biotech
14.3.5 FMC
14.3.6 Dohler
14.3.7 Chr. Hansen
14.3.8 Carotech
14.3.9 DDW
14.3.10 Excelvite
14.3.11 DSM
14.3.12 Tian Yin
14.3.13 Kemin