Global Carotenoids Market By Type (Canthaxanthin, Astaxanthin, Lycopene, Beta-carotene, Lutein, Zeaxanthin, Capsanthin & Paprika Extracts, Annatto, Beta-Apo-8-Carotenal, Beta-Apo-8-Carotenal-Ester,Others), Source (Natural, Synthetic), Method of Production (Chemical Synthesis, Extraction from Botanical Material, Fermentation, Algae Route), Formulation Type (Oil Suspensions, Beadlets, Powders, Emulsions) Application (Feed, Food, Supplements, Cosmetics, Pharmaceuticals), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Analysis: Global Carotenoids Market

Global carotenoids market is projected to rise to an estimated value of USD 2241.77 million by 2026, undergoing growth with a steady CAGR of in the forecast period of 2019-2026. This growth in the market can be attributed to the rising use of carotenoids to treat chronic diseases like cancer and its growing demand as health supplements amongst the health conscious consumers.

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Competitive Analysis:

Global carotenoids market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carotenoids market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global Carotenoids Market
Carotenoids are fat-soluble pigments produced by plants and algae that give the red, orange or yellow colour to fruits and vegetables. They play a significant role in the health of a plant, by absorbing the energy for photosynthesis. People who consume food containing carotenoids get various health benefits, as it acts an antioxidant and treats various diseases like cancer, diabetes, eye disorder etc.

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Market Drivers:
• Rising use of carotenoids in the treatment of various diseases, like diabetes, cancer, and eye disorder, cancer, ageing, has increased its consumer base
• Increased expenditure on research and development on the high value natural carotenoids
• A rise in the demand for natural nutritional supplements, organic, and natural food has fuelled the demand for carotenoids which make it popular among health conscious consumers
• Carotenoids use as a natural coloring agent is extensively increasing its application in the food and beverage industry
• Increased application of carotenoids in nutraceutical and pharmaceutical manufacturing.
• Rising health problems, like several eye diseases and cancer increases the demand for carotenoids
Market Restraints:
• Stringent government policies and approval norms are expected to hinder product demand over the upcoming years
• Lack of knowledge about cancer symptoms and adulteration restraint the growth of this market
• Health risks associated with over usage of carotenoids

Key Market Competitors:

Few of the major competitors currently working in global carotenoids market are BASF SE, Chr. Hansen Holding A/S, FMC Corporation., Kemin Industries, Inc., Cyanotech Corporation., Allied Biotech Corporation, Doehler Ventures., DDW The Colour House., ExcelVite, Brenntag AG, Divi's Laboratories Limited, Algatech LTD., NIKKEN SOHONSHA CORPORATION, E.I.D. - Parry (India) Limited., NOVUS INTERNATIONAL, PAT Vitamins, Sensient Technologies Corporation, Valensa International and others.

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