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Worldwide Carotenoid Market is expected to grow at a CAGR of 4% Development, Business Outlook, Industry Research Analysis, Share, Growth Opportunities, Forecast 2023

Carotenoid

“Latest Market Overview for Carotenoid Market Research Report 2018-2023 with CAGR 4%

Global Carotenoid Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Carotenoid marketchallenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.

Competitor Analysis: by product types, market share, applications, sales, and revenue.

  • ALGATECHNOLOGIES LTD
  • ALLIED BIOTECH CORP
  • AQUACAROTENE LTD
  • BASF SE
  • VALENSA INTERNATIONAL LLC
  • CHR. HANSEN A/S
  • CYANOTECH CORPORATION
  • DDW
  • THE COLOR HOUSE
  • SENSIENT TECHNOLOGIES CORPORATION
  • EID PARRY LTD
  • EXCELVITE SDN. BHD.
  • FARBEST BRANDS
  • FMC CORPORATION
  • SENSIENT TECHNOLOGIES CORPORATION
  • KEMIN INDUSTRIES
  • INC.
  • KONINKLIJKE DSM NV

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Description of Carotenoid Market: Market Insight

The global carotenoid market is projected to reach USD 2,070 million by 2023, registering a CAGR of 4% from 2018 to 2023.

Carotenoids are normally found in microorganisms, algae, and higher plants as well as some animal species. They provide bright yellow, red, and orange color and protect these species from the harmful effects of light, air, and sensitizer pigments. Carotenoids are majorly used as food coloring agents. However, with the advancements in biotechnology and recombinant DNA technology, the extraction of carotenoids is more commercially viable now than before. This has led to an increase in the production of carotenoid-based products. Consumers are more informed about the health benefits of carotenoid-based supplements and fortified foods. They use them as a preventive measure against ailments like arthritis, diabetes, heart disease, obesity, cancer, cataracts, macular degeneration, and skin damage. The growth of the functional foods market is also expected to boost the market for carotenoids. Although there are hundreds of carotenoids, only a few are used for commercial purposes. The carotenoids market has grown significantly in the past few years due to its increasing end-use applications in animal feed, dietary supplements, pharmaceuticals, food and beverages, cosmetics, etc.

Market Dynamics

The key driver that has led to the growth of the carotenoid market is strong growth in end-use industries like animal feed, food & beverages, dietary supplements, and pharmaceuticals. Other factors include rising health ailments like obesity and nutrient deficiency and changing consumer preferences towards natural nutritional supplements.

There is an increasing demand among consumers for clean and natural products that are made from natural supplements and colors. This has forced manufacturers to work on the extraction of carotenoid via natural means. For example, DSM has launched CaroCare® solutions, which offer a range of natural-sourced beta-carotene formulations.

Market Segmentation

The carotenoid market is segmented by type, source, and application. By type, carotenoids are further sub-segmented into beta-carotene, astaxanthin, lutein, annatto, canthaxanthin, lycopene, zeaxanthin, and others. Among these, beta-carotene is estimated to have the fastest growth during the forecast period. It is widely used for food coloring and as a natural supplement.

Carotenoids are used in animal feed, food & beverages, dietary supplements, cosmetics, pharmaceuticals, and other applications. Carotenoids are used as color enhancers in natural foods like egg yolk, chicken, meat, and fish. This improves the aesthetic look of the product and therefore, looks more appealing to the customer.

Regional Analysis

North America and Europe have the largest carotenoid market. Asia-Pacific is an emerging market, as an increasing number of consumers are adopting preventive measures in the form of health supplements to prevent diseases. Changes in lifestyle and food consumption among consumers have also led to the growth of the carotenoid market in the Asia-Pacific region. Owing to a rise in the pharmaceutical and energy industries, South America has also shown significant growth.

Reasons to Purchase this Report

  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

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    The Global demand for Carotenoid Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.

    Following market aspects are enfolded in Global Carotenoid Market Report:

    1. A wide summarization of the Global Carotenoid Market.
    2. The present and forecasted regional market size data based on applications, types, and regions.
    3. Market trends, drivers and challenges for the Global Carotenoid Market.
    4. Analysis of company profiles of Top major players functioning in the market.

    Carotenoid Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Carotenoid Market players in detail. Carotenoid Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.

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    Which are the important factors that are mentioned in the Carotenoid Market report 2023?

    • Key Market Dynamics: The Global Carotenoid Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
    • Major Growth Prospects:The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
    • Key Market Highlights: The report gives us an in-depth Market analysis on some of the Carotenoid Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.

    Browse Detailed TOC, Tables, Figures, Charts, and Companies Mentioned in this Market Research Report @ https://360researchreports.com/Carotenoid-13101883

     The growth of this market worldwide is subjected to various factors; including consumer world-class Carotenoid Market of many Carotenoid Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.

    Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.

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