The global carotenoids market is expected to
reach USD 1.74 billion by 2025, according to a new report by Grand View
Research, Inc. The growing application in human food, animal feed, dietary
supplements, medicines, and cosmetic application owing to the presence of
essential nutrients and vitamins in carotenoids will drive growth over the
upcoming years. Furthermore, the increasing demand for these applications on
account of population growth, increasing consumer surplus, and health awareness
will aid in the industry expansion.
The usage of these products in
the pharmaceutical sector will witness substantial revenue growth at a CAGR of
4.3% from 2016 to 2025. These products act as antioxidants within the body and
protect the body against chronic diseases, cellular damage, and the effects of
aging.
Carotenoids aid in supporting
eye, skin, cardiovascular health, and are being widely used for cancer
prevention. Strong growth of pharmaceutical and cosmetic industry in emerging
countries such as China, India, and South Korea will create growth
opportunities for the market in the future.
Browse full research report on Global Carotenoids Market: http://www.grandviewresearch.com/industry-analysis/carotenoids-market
Further key findings from the report suggest:
- Global carotenoids market demand was 1,150.4 tons in 2015 and is expected to grow significantly on account of increasing demand for human nutrition and skin care cosmetics in emerging countries such as China, India, South Korea, Brazil, Singapore, and Thailand
- Europe accounted for 42% of the global volume share in 2015 and is projected to foresee growth on account of rising usage of the product in functional and processed food products over the upcoming years.
- The rising demand for functional and processed food owing to busy lifestyles is expected to positively impact market growth. Moreover, the presence of major pharmaceutical companies such as GlaxoSmithKline, Pfizer, Sanofi, and Novo Nordisk will drive the demand over the forecast period.
- Natural sources are expected to witness substantial revenue growth at a CAGR of 6.1% from 2016 to 2025 owing to increasing consumer preference for natural products over synthetic products. Natural carotenoids are safe sources of vitamin A which are essential for growth, cellular reproduction, vision, and immunity, which in turn, will witness considerable growth.
- The industry is dominated by key participants including BASF SE, Allied Biotech, Kemin Industries, Brenntag, ExcelVite Sdn. Bhd., Cyanotech Corp., Chr. Hansen, D. D. Williamson, DSM Nutritional Products, Divis Laboratories, Naturex SA, and Lycored
Read our blog by Grand View Research: http://www.grandviewresearch.com/blog/carotenoids-market-size-share
Grand View Research has segmented the global carotenoids
market on the basis of source, product, application and region:
Source Outlook (Volume, Tons; Revenue, USD Million; 2014
- 2025)
- Natural
- Synthetic
Product Outlook (Volume, Tons; Revenue, USD Million; 2014
- 2025)
- Beta-carotene
- Lutein
- Lycopene
- Astaxanthin
- Zeaxanthin
- Canthaxanthin
- Others
Application Outlook (Volume, Tons; Revenue, USD Million;
2014 - 2025)
- Food
- Supplements
- Feed
- Pharmaceuticals
- Cosmetics
Regional Outlook (Volume, Tons; Revenue, USD Million;
2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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