The
carotenoids market is having a great run in tandem with the rise in
supplement consumption. Changing economy triggering a demographic shift
in the consumer behavior has helped carotenoids market gain a strong
foothold. Urbanization and industrialization have impacted well and set
life on a faster track which is boosting the demand for healthy and
natural food. Its prolific use doesn’t just stop in the food&
beverage segment; it has also percolated top other industries such as
animal feed, dietary supplements, pharmaceuticals, and cosmetics. Mostly
found in plants and organisms, these products are antioxidants and
protectthe body from cellular damage, chronic diseases, and aging. The
global carotenoids market is expecting a significant rise in CAGR during
the forecast period (2016-2027), explains Market Research Future (MRFR)
in a detailed study. The report includes an extensivestudy of the
segments and factors that can better the market prospect, along with
market inputs for a holistic understanding of the sector.
Among
the major drivers, rising cases of cancer and eye-related diseases can
trigger the carotenoids market growth. Carotenoids are believed to have
anti-carcinogenic properties. Lycopene and canthaxanthin have positive
impacts on prostate, lung cancer, and colon cancer. Whereas, lutein,
astaxanthin, and zeaxanthin can assist with better eyecare. At the same
time, these carotenoids work well as to reduce diabetes threat which can
provide the carotenoids market significant thrust.
Despite
such advantages, these organic pigments can expect some irritants in
the form of strict regulations and approval norms. In addition,
unregulated high utilization can adversely impact the body which can put
a leash on the expected carotenoids market growth.
Segmentation:
The Carotenoids Industry can be segmented by type, form, and application.
Based
on the type, the global carotenoids market includes lutein,
beta-carotene, alpha-carotene, lycopene, zeaxanthin, astaxanthin,
canthaxanthin and others.
Based on the form, the carotenoids market can be segmented into powder, capsules, and tablets.
Based
on the application the carotenoids market comprises food &
beverages, personal care products, pharmaceuticals, animal feed, &
other applications.
Regional Analysis:
Regional Analysis:
Region-specific
analysis of the carotenoids market has its finger on namely North
America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North
America is in a dominant position. Growing health-related awareness and
availability of such carotenoids are promoting the regional market with
great dexterity. At the same time, the research and development sector
is benefitting much from the impacts of such concerns and investment in
the sector is going sky-high.
Europe
is enjoying significant traction as several of the manufacturers are
based out of the region. In addition, people in the region share the
same concern for health just like the population of North America. This
can drive the regional market ahead.
The
APAC region is giving steep competition to the other two regions in
terms of generating revenue. Market behemoths are eyeing for growth in
this region as it offers infrastructural benefits at a much cheaper
rate.
Competitive Landscape:
Leading
players impacting the global carotenoids market are BASF, Allied
Biotech, Kemin Industries, Koninklijke DSM, Lycored,ExcelVite,D.D.
Williamson, Farbest Brands, FMC, Guangzhou Leader Bio-Technology, Alga
technologies, PAT Vitamins, and Valensa. These companies often employ
moves such as merger, acquisition, collaboration, product launch, and
others to further their own growth, and in the process, they assist a
holistic betterment of the carotenoids market.
In
November 2018, Deinove announced that they are developing their second
bio-based carotenoid for the cosmetics sector. The news came out after
their successful launch of Phyt-N-Resist earlier that year. The first
phase of laboratory tests has shown positive results.
In
Jun 2018, researchers from the Brain and Behavioral Sciences at the
University of Georgia announced that lutein, a carotenoid that was
effective in bettering eyesight, can improve the auditory system as
well. The research found that lutein and zeaxanthin interact to maintain
an optimal level of the auditory function.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/carotenoids-market-1260
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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