carotenoids market

The global Carotenoids Market size is expected to reach USD 1.85 billion by 2026 , exhibiting a CAGR of 3.57 % in the forecast period 2019-2026 . The increasing demand for dietary supplements and functional foods that utilize natural ingredients such as carotenoids is one of the key factors enabling the growth of the market , says Fortune Business Insights™ in a report , titled “ Carotenoids Market Size , Share and Industry Analysis By Type ( Beta-Carotene , Lutein , Lycopene , Astaxanthin , Zeaxanthin , Canthaxanthin , and Others ), By Application ( Animal feed , Foods & Beverages , Dietary Supplements , Personal Care & Cosmetic , and Pharmaceuticals ), By Source ( Synthetic and Natural ), and Regional Forecast 2019 – 2026 ” the market size stood at USD 1.40 billion in 2018 . The increasing popularity of alternative treatment methods for diabetes , eye disorders , and other lifestyle diseases will contribute positively to the Carotenoids Market growth .

According to the report , the market by type is classified into Beta-carotene , astaxanthin , canthaxanthin , lycopene , and lutein astaxanthin , zeaxanthin , canthaxanthin , and others . The Beta-carotene and astaxanthin are expected to account for maximum share in the market owing to their usage across food , feed , and cosmetic industries . Furthermore , the launch of innovative pigments that are sustainably sourced and provide enhanced functionalities will spur growth opportunities in the upcoming years . For instance , Phycocyanin from Arthrospira extracts was approved for use in candy , chewing gum , and other types for confectionery in the U . S . in 2013 and 2014 by the U . S . Food and Drug Administration .

The report offers profound insights into all the prevailing trends of the Carotenoids Market . It shares an all-encompassing study of all the segments and provides authentically procured data . It is put together after extensive research followed by descriptive analysis to assist companies , stakeholders , financers , and potential investors . It is designed with an aim to provide an absolute depiction of the market size . Moreover , it also covers parts such as product launches , acquisitions , collaborations & partnerships , and innovations and industry developments .

Increasing Incidences of Cancer and Diabetes to Fuel Demand for Carotenoid

The growing cases of cancer , diabetes , and vision impairment have prompted food manufacturers and regulatory authorities to take concrete steps in the direction of ingredient-formulations in processed foods , dietary supplements as well as in pharmaceutical offerings . Furthermore , the growing utilization of carotenoids for age-related disorders and eye-health maintenance will accelerate the growth of the market during the forecast period . Nonetheless , health risks associated with the unregulated and excessive utilization of carotene are factors expected to dampen the growth of the market in the forthcoming years .

Collaboration Between ExcelVIte and USP to Spur Lucrative Business Opportunities

ExcelVite , a PIC / S cGMP-certified palm carotene producer partnered with USP and its Non-Botanical Dietary Supplements Expert Committee to publish a new Plant Carotenes monograph . The monograph was developed based on ExcelVite ’ s palm oil-sourced mixed carotene complex , EVTene , a natural plant mixed carotene with a similar alpha- and beta-carotene composition / ratio found in carrots : ~ 33 % alpha-carotene and ~ 66 % beta-carotene . The partnership between ExcelVIte and USP is expected to create growth opportunities in the foreseeable future owing to its analytical methods and highest ingredients standards . Furthermore , the launch of new daily health beverages is likely to bolster the growth of the market . For instance , GacLife , solutions by nature beverage brand , launched five new daily health beverages , which include the highest amount of antioxidant carotenoids to provide powerful antioxidant protection for the whole body .

Well-established Cosmetics Industry to Contribute Healthy Growth in Europe

The market is Europe witnessed high growth in 2018 and is expected to grow rapidly during the forecast period . The well-established cosmetics industry , along with the rising demand for carotenoids as a food coloring agent in the food industry , will enable growth in Europe . The increasing customer awareness regarding food quality , safety , social convenience , and sustainability will boost the Carotenoids Market trends in the forthcoming years . The growing consumption of carotenoids in counties of Africa and Southeast Asia owing to the deficiency of vitamin A will encourage the growth of the market in the regions .