New York, NY -- (SBWIRE) -- 02/19/2021 -- The global carotenoids market is expected to reach USD 2.19 Billion by 2026, according to a new report by Reports and Data. Carotenoids are the type of phytonutrients found in the cells of a wide variety of plants, algae, and bacteria. These phytonutrients help plants absorb light energy for use in photosynthesis. Carotenoids are essential anti-oxidants that play a significant role in animal health and reproduction. Carotenoid-containing foods are generally red, yellow or orange.

Carotenoids are extensively used as coloring agents in food and beverages industry. Nevertheless, with biotechnological advancements coupled with innovations in recombinant DNA technology, the extraction of carotenoids is now commercially feasible. Owing to this, there is an increase in the production of carotenoid-based products. The rise in consumer awareness regarding the health benefits of carotenoid-based supplements and fortified foods has led to the use of such products as a preventive measure against various health conditions including arthritis, diabetes, obesity, cancer, macular degeneration, and skin damage among others.

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.

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Key participants include BASF, Allied Biotech, AquaCarotene, Algatechnologies, Kemin Industries, Cyanotech Corp., Brenntag, Divis Laboratories, Naturex SA, DSM Nutritional Products, D.D. Williamson, Lycored, FMC Corporation, and EID Parry.

Further key findings from the report suggest
- Beta-carotene accounted for more than 20% of the market share in the year 2018 and is projected to have a growth rate of 3.6% during the forecast period. The application of beta-carotene as a colorant, antioxidant, and as a rich source of vitamin A in food & beverages, animal feed, dietary supplements, personal care products, and pharmaceuticals is expected to propel the market growth.
- Natural sources of production of carotenoids are forecasted to observe the highest growth rate of 3.8% in the forecast period. Rising consumer awareness about the health benefits and the gains associated with natural products is projected to boost market demand throughout the forecast period.
- At present, carotenoids are mostly used as additives and dyes in human and animal foods. Animal feed segment dominated the market and held more than 40% of the carotenoids market with a growth rate of 3.5% in the forecast period.
- Europe contributed to the largest market share in the forecast period with USD 0.63 billion in 2018 due to the increasing demand for health supplements and animal feed.

For the purpose of this report, Reports and Data have segmented global carotenoid market on the basis of type, source, extraction, application, and region:

Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Beta-Carotene
- Alpha-Carotene
- Lycopene
- Lutein
- Zeaxanthin
- Beta-Cryptoxanthin
- Astaxanthin
- Others

Source Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Natural
- Synthetic

Extraction Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Conventional Process (using organic solvents or vegetable oils)
- Supercritical Fluid Extraction

Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Food & Beverages
- Animal Feed
- Dietary Supplements
- Personal Care
- Pharmaceuticals
- 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.

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Objectives of the Report:
- Study of the global Carotenoids market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
- Industrial structure analysis of the Carotenoids market by identification of various sub-segments
- Extensive analysis of key market players along with their SWOT analysis
- Competitive analysis
- Analysis of Carotenoids market based on growth trends, outlook, and contribution to the total growth of the market
- Analysis of drivers, constraints, opportunities, challenges, and risks in the global Carotenoids market
- Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances

Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026
Chapter 3. Indicative Metrics
Chapter 4. Carotenoids Segmentation & Impact Analysis
4.1. Carotenoids Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growth of end-use Industries
Continued…

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