Carotenoids Market Size and Forecast till 2026


Posted April 2, 2020 by meena-hinge

Carotenoids, also referred to as tetraterpenoids are organic pigments produced by fungi, bacteria, plants, and algae.

 
Rising Demand for Animal Feed Products to Contribute towards the Market Growth
Carotenoids are used in several applications which include food and beverages, personal care and cosmetics, animal feed, pharmaceuticals, and dietary supplements. Of these, animal feed products extensively use carotenoids for coloring properties in shrimp, poultry, and fish. Carotenoids are externally incorporated in the feed of fish, broiler skin, and egg yolks pigment to boost the overall animal health. As per the report, animal feed covered a share of 46.07% in 2018 and is expected to lead the market through the forecast years. Carotenoids are used in the food and beverage sector too owing to the rising demand for natural and organic food offerings. The rising usage of carotenoids in food and beverages is likely to stimulate the Carotenoids Market size. Increasing research and development (R&D) activities for developing natural and organic carotenoids is projected to enable growth in the market.

Players Focussing on Partnerships and Product Innovation to Expand their Presence Worldwide
Some of the leading players in the global Carotenoids Market are embarking on strategic partnerships, acquisitions, and other global strategies to gain Carotenoids Market share. New product development or product innovation, being one of the most preferred strategies. BASF launches a new carotenoid product called Lucantin NXT in August 2018. The product aims to offer long shelf-life, better stability, and high homogeneity. Recently, GacLife launches five new health beverages, containing carotenoids which provide powerful antioxidants to protect the health if a human body. Some of the key players mentioned in the report focus on collaborations to upgrade their product portfolio. For instance, ExcelVite announced the collaboration with USP in April 2019. The company aims to develop a monograph for carotenes and fulfill its commitment to achieving the highest ingredient standards.

Browse Summary of this Research Report Enabled with Table of Content and Figures:
https://www.fortunebusinessinsights.com/industry-reports/carotenoids-market-100180
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Issued By Fortune Business Insights™
Country India
Categories Free
Last Updated April 2, 2020