Carotenoids are the organic pigments
naturally occurring in plants and have been used for food colorings with beta-
carotene for a long time. However, with continuous research and development,
carotenoids have found relevance in feeds and food supplements. The market is
expected to exhibit a marginal growth compared to previous years. The majority
of sales of the global carotenoids market come from the mature markets such as
North America and Europe. Markets such as Asia Pacific and the rest of the
world are expected to exhibit sizeable growth in the coming years and Europe
significantly dominates the market.
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Some of the major factors driving
this market are growing consumer preference for naturally healthy products and
the commercial scope of carotenoids in feeds and supplements. The antioxidative
feature and discovery of new health benefits of carotenoids makes it medically
more viable giving a boost to the demand for carotenoids in medical sectors as
well. The easy availability of carotenoid also facilitates the growth of this
market.
However, the market growth is
restricted due to the limited number of suppliers in the market, lack of
R&D in developing countries, and the lack of newly discovered health
benefits of carotenoids in various regions. Even today, carotenoid is only
known as a natural color agent in many countries despite the discovery of its
various product types like astaxanthin, canthaxanthin, and lycopene among many
others.
As mentioned, the carotenoid market
has a lot of scope in medical field due to its newly discovered health
benefits. It has the potential of curing age related macular degeneration
diseases besides preventing prostate cancer and providing ocular health
benefits. So far no substitute has been found for carotenoid which makes it
rare and valued in the industry.
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More than 50% of the market is
dominated by DSM which acquired Vitatene in 2010 and BASF which acquired Cognis
in 2011.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends.
Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
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Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
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