Carotenoids Market: Introduction
Carotenoids are defined as natural pigments synthesized by plants, algae, and photosynthetic bacteria. Carotenoids belong to a class of molecules consisting of more than 750 naturally occurring yellow, orange, and red pigments that gives color to several fruits and vegetables. Xanthophylls are oxygenated carotenoids, and include lutein, zeaxanthin, and others, whereas, carotenes are unoxygenated carotenoids that involve alpha-carotene, beta-carotene, and other molecules. As a food additive, carotenoids play an important role in the global food industry.
Carotenoids: Market Outlook
The increasing use of carotenoids in developing an alternative treatment for various diseases, including eye disorders, diabetes, cancer, and aging, has boosted their popularity among consumers. Also, carotenoids are extensively utilized as natural coloring agents by the food and beverage industry. Carotenoids also find application in nutraceutical and pharmaceutical manufacturing. A steady rise in the demand for organic and natural food has been observed, owing to increasing health implications and the growing importance of sustainability. Carotenoid supplements have become highly popular among health-conscious consumers. But, their unregulated high utilization and associated health risks are factors that are expected to challenge the future demand for carotenoids. This is primarily attributed to the launch of new products with natural ingredients. In Europe, carotenoids are the most preferred food coloring agents.
Rising Incidences of Eye Diseases and Cancer to Enhance Carotenoid Consumption
Cancer has created a significant social as well as economic health burden, accounting for 8.8 million global deaths in 2015, and US$ 87.8 billion expenditure for the direct medical costs of cancer treatment in the United States. WHO estimates that 253 million people are living with vision impairment, among which, 217 million people suffer from moderate to severe vision impairment, and 36 million are blind. Carotenoids have been studied for their anti-carcinogenic properties. The consumption of beta-carotene-rich green and yellow vegetables and possible prevention of cancer (lung) has been studied extensively. Other carotenoids such as lycopene and canthaxanthin are also being studied for the prevention of prostate, lung cancer, and colon cancer. Xanthophyll (oxygen-containing) carotenoids such as lutein, astaxanthin, and zeaxanthin are being studied for the prevention of age-related eye diseases and eye health maintenance. The increasing use of carotenoids in preventing chronic diseases is likely to increase their demand in the near future.
Organic and Natural Food Ingredients Remain a Top Priority Among Consumers
While organic farming is a convenient alternative to traditional agriculture practices, it also contributes to sustainability in terms of food safety and quality, as well as in animal and environmental welfare. Awareness regarding the benefits of organic food consumption has increased, owing to the associated positive impacts on health, lifestyle, social convenience, and greater contribution in sustainable development. Consumers are becoming specific while purchasing products in terms of origin, manufacturing, and ingredients, which has been constantly driving the demand for natural carotenoids in recent years. Owing to this, natural carotenoids are giving competition to existing GMO and other synthetic food colorants.
High Levels of Blood Carotenoids to Decrease Cellular Ageing
Cellular aging is associated with the shortening of telomeres. Aging follows shortening of telomeres with every replication due to oxidative stress, and total consumption of telomeres leads to cell apoptosis (death). Studies are in progress to understand the role of carotenoids as antioxidants and the telomere shortening mechanism. Some studies suggest that, high blood levels of alpha-carotene, beta-carotene, and beta-cryptoxanthin show longer telomere lengths in leukocytes. Such studies are encouraging the R&D initiatives in applications of carotenoids for addressing the challenges of aging.
Dietary Carotenoids Reduce Type-2 Diabetes Risk
Owing to their antioxidant properties, carotenoids are known to reduce the risk of diabetes. There have been studies associated with the dietary intake of carotenoids and risk of type 2 diabetes. One such study has revealed that, those following a diet of high beta-carotenes and alpha-carotenes present reduced risks of type 2 diabetes incidences among generally healthy men and women.
Carotenoid Supplements are Assisting in the Treatment of Vitamin A Deficiency
Vitamin A (retinoic acid) is an important nutrient essential for vision, cell division, growth, immunity, and reproduction. It also has antioxidant properties that prevent the body cells against the toxic effects of free radicals produced during cellular metabolism. Vitamin A deficiency leads to vision impairments such as xerophthalmia and night blindness, impairs the immunity as well as hematopoiesis, and may cause rashes on the skin. Vitamin A deficiency is a prominent public health concern in various parts of the world, notably in Africa and Southeast Asia, affecting young children and pregnant women in low-income countries, which has increased the demand for carotenoids as a beneficial food additive. The preventive role of different carotenoids for vitamin A deficiency is reflecting favorably on their global consumption.
Bound to all the above driving factors, it is anticipated that the global carotenoids market would proliferate in terms of value and volume during the forecast period.
Carotenoids Market: Introduction
The proposed market report of TMR on the global carotenoids market evaluates the opportunities in the current market, and provides latest updates and key insights corresponding to various segments involved in the global carotenoids market over the forecast period 2018–2027. The report on the global carotenoids market provides historical data of 2013, along with the estimated data for 2018, and forecast data up to 2027 in terms of value (US$ Mn) and volume (MT). In terms of value, the carotenoids market is anticipated to increase at a CAGR of 4.0% during the forecast period. The present study exhibits the trends and market dynamics of the carotenoids market in five major regions - North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The report also includes the study of the current issues with consumers and various future opportunities for the carotenoids market.
Carotenoids Market: Report Description
The report explores the global carotenoids market for the period 2018–2027. The primary objective of the global carotenoids market report is to provide insights into key developments in the market that are consistently supporting the transformation of global businesses that are associated with carotenoids. It is very important to consider that, in an ever-wavering economy, we provide the estimated (Y-o-Y) year-on-year growth rate in addition with the Compound Annual Growth Rate (CAGR) for the overall forecast, to understand the better analysis and evaluation of the global carotenoids market, and to discover the equitable opportunities.
Yet another key feature of this report is that, the estimation of the global carotenoids market and the corresponding revenue forecast is carried out in terms of absolute dollar opportunity analysis. This is usually not considered with importance while forecasting overall market numbers. Absolute dollar opportunity analysis is very essential in evaluating the degree of opportunity that a provider can observe to execute, as well as to contrast the potential resources from a sales perspective in the global carotenoids market.
The global carotenoids market report starts with an elaborated executive summary, the market definition of various segmentations that are included, and their respective shares in the global carotenoids market. The report further incorporates the major macroeconomic factors that have an effect over the growth of the carotenoids market. The market report also highlights various market dynamics, which includes the drivers, restraints, opportunities, and trends in the global carotenoids market. The report further underlines the study of the present issues with industrial processing, and opportunities for the carotenoids market. It also encompasses value chain analysis, which provides a structural view of overall profitability from the manufacturer to the end use of the carotenoids market. In order to provide users with a clear view of the global carotenoids market, we have exhibited a competitive analysis of key market players and their strategic expansions. The competitive dashboard presents a detailed comparison of carotenoid manufacturers on valuable parameters such as key product offerings, total revenue, key developments, and key strategies. The study intensifies the global carotenoids market attractiveness analysis by type, end use, source, and region.
To evaluate the overall market size of carotenoids, the report on the carotenoids market considers various fundamental aspects based on secondary research. Furthermore, it emphasizes quantitative evaluation such as market share by type, end use, source, and region, and other qualitative data from primary respondents, which have been consolidated to arrive at clear and accurate market estimations. The forecast provided in the carotenoids market report concludes at the total revenue being generated, and the expected revenue contribution in the future.
The detailed profiles of companies are included in the global carotenoids market report to analyze their developmental strategies, key product offerings, and recent developments, as they have a significant role in the global carotenoids market. Major market players covered in the carotenoids market report are Koninklijke DSM N.V., Fuji Chemical Industries Co., Ltd., DDW The Colour House, Vidya Herbs Pvt Ltd, BASF SE, Novus International, Nutralliance, Chr. Hansen Holding A/S, NOW Health Group, Inc., and others.
Carotenoids Market: Segmentation
The subsequent sections analyze the global carotenoids market on the basis of type, end use, source, and region, and presents a forecast for the period 2018–2027. The market is segmented as follows:
Carotenoids Market by Type
Carotenoids Market by End Use
- Aquaculture Feed
- Poultry Feed
- Pet Food
- Dietary Supplements
Carotenoids Market by Source
- Fruits & Vegetables
- Algae & Fungi
Carotenoids Market by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of APAC
- Middle East & Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA