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Global Carotenoids Market is estimated to be US$ 2.51 in 2030 at a CAGR 4.3% during the forecast period

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Global Carotenoids Market is estimated to be US$ 2.51 in 2030 at a CAGR 4.3% during the forecast period

The global carotenoids market accounted for US$ 1.65 billion in 2020 and is estimated to be US$ 2.51 billion by 2030 and is anticipated to register a CAGR of 4.3%. Carotenoids are phytonutrients which help to fight against radical damage and offers various antioxidants to ward off disease and lower inflammation. They have antioxidant properties which help in blocking formation of oxidative stress, which is a primary cause of aging and degeneration. Carotenoids travel through lipoproteins along with cholesterol and other fats that make them beneficial for protecting arteries against blockages, radical damage, and inflammation. Higher consumption of carotenoid is associated with improvements in several biomarkers that help in strong immune function. Carotenoids also hold properties such as anti-inflammatory, antitumor, chemo protective which help in prevention from infections, illnesses, and serious diseases like cancer.

The report " Global Carotenoids Market, By Type (Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others), By Production Method (Chemical synthesis, Extraction from botanical material, Fermentation, and Algae route), By Formulation Type (Oil suspensions, Beadlets, Powders, and Emulsions), By Application (Feed, Food, Supplements, Cosmetics, and Pharmaceuticals), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)- Market Trends, Analysis, and Forecast till 2030”

Key Highlights:

  • In April 2019, Zhejiang NHU Co. Ltd formed a partnership with LJ Ingredients (Denmark). Through this partnership, LJ Ingredients became an exclusive sales agent for beta-carotene products for the company in the European market.
  • In March 2019, Kemin Industries launched Organic KEM GLO, which is a USDA certified organic carotenoid that helps organic egg producers to intensify the colors of egg yolks. This would help the company to attain a leading position in the feed carotenoids market.

Analyst View:

Increasing adoption of carotenoids in wide variety of applications including food, animal feed, dietary supplements, pharmaceuticals, and cosmetics is a major factor driving the growth of the global carotenoid market. In addition, increasing demand for healthy & natural food and growing supplement consumption due to rising health issues are some other factors expected to support growth of the global market in the forecast period. Furthermore, increasing demand form pharmaceutical sector for medicinal preparation as carotenoids antioxidants property aids in protection of body against chronic diseases, cellular damage, and effects of aging is another factor propelling the growth of the target market. Moreover, changing consumption pattern and rising health issues across the globe is resulting in increasing adoption of carotenoids product in dietary supplements is another factor expected to boost growth of the market. However, high dosage of carotenoids resulting in harmful side effects is a major factor restraining the growth of the target market. In addition, stringent government regulations related to product approval is another factor expected to challenge growth of the global carotenoid market to certain extent.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Carotenoids Market, By Type (Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others), By Production Method (Chemical synthesis, Extraction from botanical material, Fermentation, and Algae route), By Formulation Type (Oil suspensions, Beadlets, Powders, and Emulsions), By Application (Feed, Food, Supplements, Cosmetics, and Pharmaceuticals), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)- Market Trends, Analysis, and Forecast till 2030”

To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Global-Carotenoids-Market-By-Type-1025

Key Market Insights from the report:

The global carotenoids market accounted for US$ 1.65 billion in 2020 and is estimated to be US$ 2.51 billion by 2030 and is anticipated to register a CAGR of 4.3%. The global carotenoid market is segmented into types, production method, formulation types, applications, and region.

  • By Type, the market is segmented into Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others.
  • By Production Method, the market is segmented into Chemical synthesis, Extraction from botanical material, Fermentation, and Algae route.
  • By Formulation Types, the market is segmented into Oil suspensions, Beadlets, Powders, and Emulsions.
  • By Application, the market is segmented into Feed, Food, Supplements, Cosmetics, and Pharmaceuticals.
  • By Region, the Global Smart Grid Communications Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected to be the largest smart grid communication market.

Competitive Landscape:

Key players in the global carotenoid market are BASF SE, Royal DSM N.V., Hansen A/S, FMC Corporation, Cyanotech Corporation, Kemin Industries Inc., D. Williamson & Co., Inc., Döhler Group, and Allied Biotech Corporation.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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