Market overview:

Carotenoids Market has been valued $ 1.3 billion in the year 2019 and it is estimated to reach $1.7 billion by the year 2026, with a CAGR of 3.7 % from 2021 to 2026. Carotenoids are most commonly known as the pigments in plants, algae, and photosynthetic bacteria. These pigments will produce the bright yellow, red, and orange colours in the plants, vegetables, and fruits. Theses Carotenoids has various health benefits and also it act as a type of antioxidant for humans begins. Theses Carotenoids helps to protect the body against chronic diseases, cellular damage, and the effects of aging, these are the main factors that have considerably increased the demand for the Carotenoids, thereby driving the huge growth of the Carotenoids market in the upcoming years.

Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Carotenoids is mainly due to the increasing the usage of Carotenoids in various places such as including food, animal feed, dietary supplements, pharmaceuticals, and cosmetics industry, rising the demand for healthy & natural, organic food along with supplement consumption is likely to spur growth, increasing use of natural carotenoids as food colorants and innovations in the technologies used for extraction of carotenoids, increasing in the emerging food additives sector along with the cosmetics and personal care industry propelled growth of Carotenoids, these are the main factors that have considerably increased the demand for the Carotenoids, thereby driving the huge growth of the Carotenoids market in the upcoming years.

To know more read:

https://www.marketdataforecast.com/market-reports/global-carotenoids-market

Report is segmented as:

Carotenoids Market is segmented on the basis of by type, on the basis of by application, on the basis of by source:

Carotenoids Market is segmented on the basis of by type into Astaxanthin, Canthaxanthin, Lutein, Beta-Carotene, Lycopene, & Zeaxanthin
Carotenoids Market is segmented on the basis of by application into Food & Beverages, Dietary Supplements, Animal Feed and Pharmaceuticals and others
Carotenoids Market is segmented on the basis of by source into Natural and Synthetic
Geographical Segmentation:

Carotenoids Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. Asia Pacific has the dominant share in the Carotenoids in the year 2019 due to the growing usage of these additives in feed, supplement, food, pharmaceutical, and cosmetic applications these are the main factors that have considerably increased the demand for the Carotenoids in the Asia Pacific region, followed by Europe, Latin America and Middle East & Africa will register a slower increase in the Carotenoids Market

Impact of COVID-19 on Market

The COVID-19 pandemic has slightly impacted the supply-chain of Carotenoids, Covid -19 pandemic has affected almost every industry, and the long-term effects are projected to impact growth of Carotenoids during the forecast period. Covid-19 pandemic has impacted huge on the sales revenue of Carotenoids market, Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies. Companies have started opening their manufacturing units after taking all the necessary preventive measures.

Contact Us:

+1-888-702-9626 (U.S. TOLL FREE)

[email protected]