Carotenoids Market

Executive Summary

Carotenoids Market was valued at US $1.88 billion in 2021 and is projected to grow at 4.23% CAGR over the forecast period to reach US $2.41 billion by 2027. Carotenoids Market represented US $0.15 billion opportunity over 2019-2021 and estimated to create US $0.53 billion opportunity in 2027 over 2021.

Carotenoids from Consainsights analyses the Carotenoids Market in the Chemicals & Materials industry over the forecast period to 2027.

Carotenoids research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Carotenoids segmentation includes Type, Application, Formulation, Source, Region and Geography.

Based on the Type, the Carotenoids analysis covers Beta-Carotene, Astaxanthin, Lutein, Lycopene, Zeaxanthin, Canthaxanthin, Other Types.

In Type segment, Beta-Carotene segment has highest cagr growth of 3.75%.

Based on the Application, the Carotenoids analysis covers Feed, Dietary Supplements, Food & Beverages, Cosmetics, Pharmaceuticals.

In Application segment, Feed segment has highest cagr growth of 3.75%.

Based on the Formulation, the Carotenoids analysis covers Beadlet, Powder, Oil Suspension, Emulsion.

In Formulation segment, Oil Suspension segment has highest cagr growth of 3.75%.

Based on the Source, the Carotenoids analysis covers Synthetic Carotenoids, Natural Carotenoids.

In Source segment, Natural Carotenoids segment has highest cagr growth of 3.75%.

Based on the Region, the Carotenoids analysis covers North America, Europe, Asia Pacific, South America, Rest of the World (RoW).

In Region segment, North America segment has highest cagr growth of 3.75%.

Based on the region, the Carotenoids analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include Koninklijke DSM, BASF, Chr. Hansen, Cyanotech Corporation, Allied Biotech Corporation, Lycored Limited, Kemin Industries, Fuji Chemical Industry Co Ltd., Novus International, Döhler Group, Excelvite Sdn. Bhd., DDW the Color House, Farbest Brands, Algatechnologies Ltd., Zhejiang NHU Co. Ltd., E.I.D. Parry, Divi’s Laboratories, Dynadis SARL, Vidya Europe SAS, Deinove SAS and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Type

Introduction

In 2021, Beta-Carotene segment has the highest revenue of US $0.71 billion and is expected to grow at CAGR of 3.75% by 2027 Beta-Carotene segment has highest cagr growth of 3.75%.

Beta-Carotene

Beta-Carotene segment was valued at US $0.65 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.91 billion by 2027. Beta-Carotene segment represented US $0.06 billion opportunity over 2019-2021 and estimated to create US $0.20 billion opportunity in 2027 over 2021.

Astaxanthin

Astaxanthin segment was valued at US $0.40 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.56 billion by 2027. Astaxanthin segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.12 billion opportunity in 2027 over 2021.

Lutein

Lutein segment was valued at US $0.26 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.36 billion by 2027. Lutein segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.08 billion opportunity in 2027 over 2021.

Lycopene

Lycopene segment was valued at US $0.17 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.23 billion by 2027. Lycopene segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.05 billion opportunity in 2027 over 2021.

Zeaxanthin

Zeaxanthin segment was valued at US $0.11 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.15 billion by 2027. Zeaxanthin segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.03 billion opportunity in 2027 over 2021.

Canthaxanthin

Canthaxanthin segment was valued at US $0.09 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.12 billion by 2027. Canthaxanthin segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.03 billion opportunity in 2027 over 2021.

Other Types

Other Types segment was valued at US $0.05 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.08 billion by 2027. Other Types segment represented US $0.00 billion opportunity over 2019-2021 and estimated to create US $0.02 billion opportunity in 2027 over 2021.

Application

Introduction

In 2021, Feed segment has the highest revenue of US $0.70 billion and is expected to grow at CAGR of 3.75% by 2027 Feed segment has highest cagr growth of 3.75%.

Feed

Feed segment was valued at US $0.64 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.89 billion by 2027. Feed segment represented US $0.06 billion opportunity over 2019-2021 and estimated to create US $0.20 billion opportunity in 2027 over 2021.

Dietary Supplements

Dietary Supplements segment was valued at US $0.45 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.62 billion by 2027. Dietary Supplements segment represented US $0.04 billion opportunity over 2019-2021 and estimated to create US $0.14 billion opportunity in 2027 over 2021.

Food & Beverages

Food & Beverages segment was valued at US $0.33 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.46 billion by 2027. Food & Beverages segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.10 billion opportunity in 2027 over 2021.

Cosmetics

Cosmetics segment was valued at US $0.23 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.31 billion by 2027. Cosmetics segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.07 billion opportunity in 2027 over 2021.

Pharmaceuticals

Pharmaceuticals segment was valued at US $0.09 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.12 billion by 2027. Pharmaceuticals segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.03 billion opportunity in 2027 over 2021.

Formulation

Introduction

In 2021, Beadlet segment has the highest revenue of US $1.01 billion and is expected to grow at CAGR of 3.75% by 2027 Oil Suspension segment has highest cagr growth of 3.75%.

Beadlet

Beadlet segment was valued at US $0.93 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $1.30 billion by 2027. Beadlet segment represented US $0.08 billion opportunity over 2019-2021 and estimated to create US $0.29 billion opportunity in 2027 over 2021.

Powder

Powder segment was valued at US $0.38 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.53 billion by 2027. Powder segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.12 billion opportunity in 2027 over 2021.

Oil Suspension

Oil Suspension segment was valued at US $0.19 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.26 billion by 2027. Oil Suspension segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.06 billion opportunity in 2027 over 2021.

Emulsion

Emulsion segment was valued at US $0.23 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.32 billion by 2027. Emulsion segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.07 billion opportunity in 2027 over 2021.

Source

Introduction

In 2021, Synthetic Carotenoids segment has the highest revenue of US $1.72 billion and is expected to grow at CAGR of 3.75% by 2027 Natural Carotenoids segment has highest cagr growth of 3.75%.

Synthetic Carotenoids

Synthetic Carotenoids segment was valued at US $1.59 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $2.21 billion by 2027. Synthetic Carotenoids segment represented US $0.14 billion opportunity over 2019-2021 and estimated to create US $0.49 billion opportunity in 2027 over 2021.

Natural Carotenoids

Natural Carotenoids segment was valued at US $0.14 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.20 billion by 2027. Natural Carotenoids segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.04 billion opportunity in 2027 over 2021.

Region

Introduction

In 2021, North America segment has the highest revenue of US $0.79 billion and is expected to grow at CAGR of 3.75% by 2027 North America segment has highest cagr growth of 3.75%.

North America

North America segment was valued at US $0.72 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $1.01 billion by 2027. North America segment represented US $0.06 billion opportunity over 2019-2021 and estimated to create US $0.22 billion opportunity in 2027 over 2021.

Europe

Europe segment was valued at US $0.39 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.54 billion by 2027. Europe segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.12 billion opportunity in 2027 over 2021.

Asia Pacific

Asia Pacific segment was valued at US $0.35 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.48 billion by 2027. Asia Pacific segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.11 billion opportunity in 2027 over 2021.

South America

South America segment was valued at US $0.25 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.34 billion by 2027. South America segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.08 billion opportunity in 2027 over 2021.

Rest of the World (RoW)

Rest of the World (RoW) segment was valued at US $0.02 billion in 2019 and is projected to grow at 3.75% CAGR over the forecast period to reach US $0.03 billion by 2027. Rest of the World (RoW) segment represented US $0.00 billion opportunity over 2019-2021 and estimated to create US $0.01 billion opportunity in 2027 over 2021.