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Carotenoids Market Size, Revenue Analysis, Opportunities, Trends, Product Launch, 2023–2030

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The Global Carotenoids Market size was USD 1.97 Billion in 2021 and is expected to register a revenue CAGR of 3.5% during the forecast period.

The Global Carotenoids Market size was USD 1.97 Billion in 2021 and is expected to register a revenue CAGR of 3.5% over the forecast period, according to the latest report by Reports and Data.

Increasing RD for optimal carotenoid extraction using innovative and green methodologies, as well as their stability via encapsulation procedures, is likely to fuel global revenue growth. Marine microalgae and seaweeds provide a sustainable supply of various bioactive natural carotenoids, including -carotene, lutein, astaxanthin, zeaxanthin, violaxanthin, and fucoxanthin (microalgae). There has recently been a surge of interest in the large-scale synthesis of carotenoids from algal sources for commercial and industrial applications in food, medicine, and cosmetics. Although standard solvent extraction procedures are simple for separating carotenoids, they have significant limitations, including low efficiency (extraction yield), selectivity (purity), high solvent consumption, and extensive treatment periods.

These disadvantages have motivated research into improved extraction strategies. Traditional extraction of algae intracellular products is typically performed from dry biomass and is based on maceration and heat extraction using organic or aqueous solvents, depending on the polarity of the target compounds to be recovered. Rising innovation, such as the use of non-thermal, environmentally friendly extraction techniques such as Pulsed Electric Field (PEF) when seeking to target intracellular compounds in plants or organisms, is likely to fuel market revenue growth.

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The growth in the market demand for functional foods is also estimated to propel the market demand for carotenoids. The carotenoid market is projected to rise significantly in the forecast period owing to high demand in end-use applications comprising food beverages, animal feed, dietary supplements, personal care, and pharmaceuticals among others. Eating carotenoid-rich foods can protect healthy cells in the eye and inhibit the growth of cancerous cells. One of the principal reasons for blindness is macular degeneration. Presence of the long system of alternating double and single bonds in carotenoids allows them to absorb light rays in the visible range of the spectrum. This characteristic is particularly beneficial to eyes, where lutein, zeaxanthin, and meso-zeaxanthin efficiently absorb blue light. Based on the density of the carotenoid pigment present in the macula, about 90% of blue light can be absorbed by these pigments. Reduction in the amount of short wavelength that reaches the vital parts of the eye may protect them from oxidative damage caused by light.

Some of the Leading Market Players Are Listed Below:

  • BASF SE,
  • Allied Biotech Corporation,
  • Algatech Ltd.,
  • Kemin Industries, Inc.,
  • Cyanotech Corporation,
  • Brenntag SE,
  • Divi's Laboratories Limited,
  • Naturex,
  • DSM,
  • FMC Corporation.
  • Others

Market Overview:

All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.

As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.

Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.

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Market Segmentation:

By Type Outlook

  • Beta-Carotene
  • Alpha-Carotene
  • Lycopene
  • Others

By Application Outlook

  • Food Beverages
  • Animal Feed
  • Dietary Supplements
  • Others

By Source Outlook

  • Natural
  • Synthetic

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The Carotenoids market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Carotenoids market.

The global Carotenoids market is segmented into:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market? What kind of strategic business plans have they made?

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Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

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