Global Carotenoids Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Carotenoids Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Type (Annatto, Astaxanthin, Beta-carotene, Canthaxanthin, Lutein, Lycopene, Zeaxanthin, and Other Types), Source (Natural, and Synthetic), Application (Animal Feed, Food & Beverage, Dietary Supplements, Cosmetics, and Pharmaceuticals), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Carotenoids Market was valued at USD 1,995.0 million in 2023 and is expected to reach USD 2,772.6 million by 2031 while growing at a CAGR of 4.2% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global carotenoids market growth. Carotenoids, natural pigments in plants, algae, and bacteria, provide vibrant colors in fruits and vegetables. Crucial for photosynthesis, they absorb light energy and aid in its conversion into chemical energy.
Increasing demand for natural colorants in food and beverages, coupled with rising consumer awareness of health and nutrition, propels the growth of the carotenoids market. However, obstacles like the high cost of production and regulatory constraints, including approval processes, may impede market expansion.
Furthermore, the global carotenoids industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Type Analysis
The Global Carotenoids Market is segmented among Annatto, Astaxanthin, Beta-carotene, Canthaxanthin, Lutein, Lycopene, Zeaxanthin, and Other Types, based on Type. In 2023, Annatto accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Source Analysis
The Global Carotenoids Market is segmented among Natural, and Synthetic, based on Source. In 2023, Synthetic accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Carotenoids Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Europe dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are Divi's Laboratories Limited, Givaudan SA, Koninklijke DSM NV, Sensient Technologies Co., Döhler Group SE, The Solabia Group, Allied Biotech Corp., EID - Parry (India) Limited, Cyanotech Corporation, and BASF SE.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Carotenoids Market Dynamics
Drivers
Restraints
Opportunity
4. Global Carotenoids Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Carotenoids Market Segmentation, By Type
Global Carotenoids Market Share Analysis, By Type
Global Carotenoids Market Growth Analysis, By Type
Global Carotenoids Market Trends, By Type
o Annatto
o Astaxanthin
o Beta-carotene
o Canthaxanthin
o Lutein
o Lycopene
o Zeaxanthin
o Other Types
6. Global Carotenoids Market Segmentation, By Source
Global Carotenoids Market Share Analysis, By Source
Global Carotenoids Market Growth Analysis, By Source
Global Carotenoids Market Trends, By Source
o Natural
o Synthetic
7. Global Carotenoids Market Segmentation, By Application
Global Carotenoids Market Share Analysis, By Application
Global Carotenoids Market Growth Analysis, By Application
Global Carotenoids Market Trends, By Application
o Animal Feed
o Food & Beverages
o Dietary Supplements
o Cosmetics
o Pharmaceuticals
8. Global Carotenoids Market Segmentation, By Region
Global Carotenoids Market Share Analysis, By Region
Global Carotenoids Market Growth Analysis, By Region
Global Carotenoids Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
9. Competitive Landscape
Divi's Laboratories Limited*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Givaudan SA
Koninklijke DSM NV
Sensient Technologies Co.
Döhler Group SE
The Solabia Group
Allied Biotech Corp.
EID - Parry (India) Limited
Cyanotech Corporation
BASF SE
*Similar analysis will be provided for each company listed above.
