The elder citizen constitutes a major percentage of the population in the developed regions and are the largest users of preventive and predictive medication such as carotenoids. Thus, increase in demand for dietary supplements from adult population is the major reason for higher demand of carotenoids.

Carotenoids market was valued at $1,577 million in 2017 and is projected to reach $2,098 million by 2025, registering a CAGR of 3.6% from 2018 to 2025. In 2017, the animal feed segment accounted for about two-fifths share of the global market in terms of value.

Carotenoids are plant-based organic pigments responsible for bright red, yellow, orange, and other hues. These are obtained from algae, bacteria, fungi, animal fat or can be produced synthetically. They are characterized chemically by a long aliphatic polyene chain composed of eight isoprene units. Astaxanthin, capsanthin, lutein, beta-carotene, lycopene, and others such as canthaxanthin, annatto, and zeaxanthin are the major carotenoids, which are available commercially.

The health benefits of carotenoids in the human food are becoming increasingly deceptive in the past few years, thus preventing several major health disorders. Higher dietary intake of carotenoids also helps the body to rejuvenate by promoting the growth of healthy cells and impede the growth of unhealthy ones. This has led to the greater consumption of carotenoids in human food, thus driving the market growth.

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Key Benefits
• This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global carotenoids market from 2017 to 2025 to identify the prevailing market opportunities.
• The key countries in all the major regions are mapped based on their market share.
• Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes the analysis of the regional as well as the global market, key players, market segments, application areas, and growth strategies.

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Carotenoids Market Key Segments:

By Product
• Astaxanthin
• Capsanthin
• Lutein
• Beta-carotene
• Lycopene
• Others

By Source
• Natural
• Synthetic

By Application
• Animal Feed
• Human Food
• Dietary Supplement
• Others

By Region
• North America
• Europe
• Asia-Pacific
• LAMEA

Key Players
• BASF SE
• Koninklijke DSM N.V.
• Hansen A/S
• FMC Corporation
• Cyanotech Corporation
• Kemin Industries Inc
• DDW The Colour House
• Dhler Group
• Allied Biotech Corporation
• Excelvite.

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