Carotenoids Market by Top Key Players | Allied Biotech Corporation, Algatechologies, BASF SE
Rising at 3.57% CAGR, the global carotenoids market is anticipated to exhibit US$ 1,848.1 Million by 2026. The market is forecast to witness considerable growth owing to the increasing use of carotenoids in various applications such as animal feed, food, cosmetics, and others. Fortune Business Insights in a new study, titled “CAROTENOIDS: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2015-2026” entails some of the carotenoids market trends and in-depth analysis over the forecast period.
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An increasing number of health issues and rising demand for natural and healthy food together with supplement consumption is likely to favor growth in the market. Carotenoids, also referred to as tetraterpenoids are organic pigments produced by fungi, bacteria, plants, and algae. Food items such as daffodils, carrots, canaries, corn, egg yolks, buttercups, and others obtain the characteristic color due to carotenoids.
As per the Oregon State University, there are over 600 types of carotenoids. Majority of them are used in the western diet and the most studied among them are alpha-carotene, beta-cryptoxanthin, beta-carotene, lutein, lycopene, and zeaxanthin. Research studies have found that diets which are rich in carotenoids can reduce the risk of cancer, cardiovascular diseases, and other chronic diseases. Considering this, the global carotenoids market growth is expected to spur in the forthcoming years.
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By Product Type
- Food & Beverages
- Animal Feed
- Dietary Supplements
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market.
- Studies published by relevant associations (Institute of Food Technologists, Food and Drug Administration; Food and Agriculture Organization; Codex Alimentarius; etc.), government sources (World Bank; FoodDrinkEurope, Food Processing & Certification Bodies; etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Food Processing Magazine, Food Safety Magazine, ResearchGate, etc.
- Website, reports, and press releases of end user facilities – Food and beverage manufacturers and food service providers.
- Industry journals and paid databases.
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
- Details in relation to the parent market/related market, value and supply chain analysis, distribution channels, trade analysis, and recent technological developments.
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities.
Players Focussing on Partnerships and Product Innovation to Expand their Presence Worldwide
Some of the leading players in the global carotenoids market are embarking on strategic partnerships, acquisitions, and other global strategies to gain carotenoids market share. New product development or product innovation, being one of the most preferred strategies. BASF launches a new carotenoid product called Lucantin NXT in August 2018. The product aims to offer long shelf-life, better stability, and high homogeneity. Recently, GacLife launches five new health beverages, containing carotenoids which provide powerful antioxidants to protect the health if a human body.
Some of the key players mentioned in the report focus on collaborations to upgrade their product portfolio. For instance, ExcelVite announced the collaboration with USP in April 2019. The company aims to develop a monograph for carotenes and fulfill its commitment to achieving the highest ingredient standards.
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