The global carotenoids market is expected to reach USD 2.19 Billion by 2026, according to a new report by Reports and Data. Carotenoids are the type of phytonutrients found in the cells of a wide variety of plants, algae, and bacteria. These phytonutrients help plants absorb light energy for use in photosynthesis. Carotenoids are essential anti-oxidants that play a significant role in animal health and reproduction. Carotenoid-containing foods are generally red, yellow or orange.

Carotenoids are extensively used as coloring agents in food and beverages industry. Nevertheless, with biotechnological advancements coupled with innovations in recombinant DNA technology, the extraction of carotenoids is now commercially feasible. Owing to this, there is an increase in the production of carotenoid-based products. The rise in consumer awareness regarding the health benefits of carotenoid-based supplements and fortified foods has led to the use of such products as a preventive measure against various health conditions including arthritis, diabetes, obesity, cancer, macular degeneration, and skin damage among others.

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The growth in the market demand for functional foods is also estimated to propel the market demand for carotenoids. The carotenoid market is projected to rise significantly in the forecast period owing to high demand in end-use applications comprising food & beverages, animal feed, dietary supplements, personal care, and pharmaceuticals among others.

Top Players Analyzed in the Report are:

BASF, Allied Biotech, AquaCarotene, Algatechnologies, Kemin Industries, Cyanotech Corp., Brenntag, Divis Laboratories, Naturex SA, DSM Nutritional Products, D.D. Williamson, Lycored, FMC Corporation, and EID Parry.

For a comprehensive value chain analysis, the report covers the downstream and upstream essentials of the Carotenoids market. It also pays special focus on the growth process, macro- and micro-economic factors, raw material sources analysis, and other technical data. The report further segments the market on the basis of types, applications, and regions and offers insights into the segments that have the highest penetration and profit margin, along with recent developments based on geographies.

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For the purpose of this report, Reports and Data have segmented global carotenoid market on the basis of type, source, extraction, application, and region:

Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Beta-Carotene
• Alpha-Carotene
• Lycopene
• Lutein
• Zeaxanthin
• Beta-Cryptoxanthin
• Astaxanthin
• Others

Source Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Natural
• Synthetic

Extraction Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Conventional Process (using organic solvents or vegetable oils)
• Supercritical Fluid Extraction

Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Food & Beverages
• Animal Feed
• Dietary Supplements
• Personal Care
• Pharmaceuticals
• Others

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Further key findings from the report suggest

• Beta-carotene accounted for more than 20% of the market share in the year 2018 and is projected to have a growth rate of 3.6% during the forecast period. The application of beta-carotene as a colorant, antioxidant, and as a rich source of vitamin A in food & beverages, animal feed, dietary supplements, personal care products, and pharmaceuticals is expected to propel the market growth.
• Natural sources of production of carotenoids are forecasted to observe the highest growth rate of 3.8% in the forecast period. Rising consumer awareness about the health benefits and the gains associated with natural products is projected to boost market demand throughout the forecast period.
• At present, carotenoids are mostly used as additives and dyes in human and animal foods. Animal feed segment dominated the market and held more than 40% of the carotenoids market with a growth rate of 3.5% in the forecast period.

Benefits of Global Carotenoids Market Report:

• Comprehensive analysis of the changing market dynamics
• A futuristic outlook on different factors influencing the market
• An 8-year forecast of the market growth and expected revenue growth
• Ease of understanding of the market, key segments, and their future growth
• In-depth analysis of the competitive landscape to give an advantageous edge for the companies
• Extensive insight into the market with in-depth analysis of the segmentation

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