The Carotenoids
Market report discusses the
primary market growth drivers and challenges that the vendors and the market as
a whole face and provides an overview of the key trends emerging in the market.
This study also shows about the industry size of different segments and their
growth aspects along with key leading countries in Americas, Asia-Pacific,
Europe, the Middle East, and Africa regions.
Industry Insights
The global carotenoids market was estimated at USD 1.21 billion in the
year 2015 and is likely to witness significant growth, due to its increasing
usage in numerous applications such as food, dietary supplements, animal feed,
cosmetics and pharmaceuticals. Growing health awareness among consumers has led
to increased usage of natural food products and nutritive supplements. This
scenario is considered to drive the consumption of carotenoids over the years
ahead.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Carotenoids Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the
global Carotenoids Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
Carotenoids also known as tetraterpenoids are color imparting organic
pigments, that naturally occur in fruits, leafy vegetables, and roots. These
products play the role of antioxidants and provide protection to the human
health against chronic diseases, cellular damage, and aging. These organic
pigments have found a rising usage in dietary supplements, due to growing
health issues among the younger and older working populace groups that are aged
in the range of 18 to 64 years.
Tetraterpenoids are commercially available in orange, yellow and red
colors. The orange colored products include alpha-, beta-, and gamma-carotene,
while the red and yellow ones include lycopene and lutein respectively. Animal
feed, cosmetics and pharmaceuticals are the next major uses of the market.
Source Insights
Carotenoids are derived via natural or synthetic sources. Synthetic
accounted for the largest volume share in 2015. Furthermore, this source type
generated a revenue of USD 903.6 million in 2015. However, due to rising
consumer inclination towards naturally derived ingredients, this segment is
expected to depict a diminished growth during the forecast period.
The natural source type is expected to witness significant volume as
well as revenue growth during the forecast period. The sources under this
category include plant leaves, crustacean shells, flowers, bird feathers,
fruits and fish flesh. Growing consumer awareness about health benefits of
natural products is likely to propel the demand in the industry during the
forecast period.
Application Insights
Animal feed is the prominent application of carotenoids, which held a
revenue share of 41% of the total industry. Tetraterpenoids are consumed in
animal nutrition for boosting immunity.
Dietary supplements is another key application, which is likely to offer
significant growth prospects in the future, on account of rising consciousness
among consumers regarding healthy diet intake and for treating vitamin
deficiency related disorders.
Regional Insights
Asia Pacific is likely to witness tremendous growth, due to the
increasing usage of the product in food, pharmaceuticals and personal care
sectors. This scenario is projected to reflect in countries such as India,
Japan and China owing to economic growth, technological advancements, low
production costs and presence of a broad industrial base.
The awareness regarding the health benefits of dietary supplements has
notably increased in the Asia Pacific region, as a consequence of various
factors such as rising disposable incomes, increasing middle class population
and educational development. Furthermore, the existence of major pharmaceutical
companies in the region such as Sun Pharmaceutical, Dr. Reddy’s Laboratories,
GSK, Cipla, Novo Nordisk and Roche are likely to contribute towards the
industry growth.
In terms of revenue, Europe held the largest share in 2015 and is likely
to expand at a CAGR of 3.8% during the forecast period. Product consumption in
the region is anticipated to rise as a result of significant demand from animal
feed and health supplement sectors. Presence of a well-established cosmetics
industry with key players such as L’Oreal, Henkel, Unilever and Beiersdorf is
another growth driving factor.
Competitive Insights
BASF SE, Brenntag, Kemin Industries, Allied Biotech, ExcelVite Sdn.
Bhd., DSM Nutritional Products, Cyanotech Corp., Divis Laboratories, Chr.
Hansen, D.D. Williamson, Lycored, and Naturex SA are the major players in the
industry.
The manufacturers are implementing various strategies that include
product innovation and collaborations with other participants across the value
chain, in order to increase their presence worldwide.
Know
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