The Global Carotenoids Market was prized at USD 1.27 billion in 2019, and it is predictable to reach USD 1.91 billion by 2026, at a CAGR of 4.7 %, over the forecast period. The key driver for the industry is the fame of carotenoids in the cure of diabetes, cancer, and eye disorder. Rising R&D for the development of high-value natural carotenoids is expectable to create new growth chances for the market. However, strict controlling and approval norms are predictable to hinder product request over the forthcoming years.
Carotenoids are organic colors that are found in many plants and organisms. These products act as antioxidants and defend the body against long-lasting diseases, cellular damage, and the effects of the elderly. Rising practice of this product in nutritional additions because of swelling health substances will surge energy market request. Carotenoids are commercially reachable in numerous forms counting beta-carotene, lutein, lycopene, annatto, canthaxanthin, astaxanthin, zeaxanthin.
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Numerous end-user applications of carotenoids, counting practice in preventive healthcare, and nutraceuticals, along with the rising significance of food excellence and appearance, have been the motivating issues for the global carotenoid market. With growing mindfulness among customers about clean-label solutions and health-based products, there has been a growing request for food encouraged with carotenoids, which offers an excellent chance for manufacturers, particularly in the developing markets, such as Asia-Pacific.
The purchase curiosity of the buyer surges as brands assertions the use of natural colors, as customers are demanding greater limpidity in their food and beverage. Customers observe a positive image about the product when the label rights fruit and vegetable juices and essences as colorings listed on the element statement. Carotenoids, such as beta-carotene in carrots and lycopene in tomatoes, harvest a range of tints from yellow to red, and anthocyanins, such as grape skin mine give fruits and vegetables their red, blue, and purple colors. This increased mindfulness and use of naturally resulting tones from sources, such as tomato and carrot, are motivating the carotenoid market, globally.
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North America and Europe have the prime carotenoid market, due to the increasing demand for fresh label foods and health awareness. Moreover, in the United Kingdom, the growing food security worries are forcing manufacturing to accept clean labels, which is activating the request for natural colors. Asia-Pacific is a developing market, as an increasing number of customers are taking preventive procedures in the form of health additions to avoid diseases.
Some of the leading players operating in the global carotenoid market are Koninklijke DSM (Netherlands), BASF (Germany), Chr. Hansen (Denmark), Kemin Industries (US), Lycored Limited (Israel), Cyanotech Corporation (US), Fuji Chemical Industry Co Ltd. (Japan), Novus International (US), DDW The Color House (US), Dohler Group (Germany), Allied Biotech Corporation (Taiwan), E.I.D Parry (India), Farbest Brands (US), Excelvite Sdn. Bhd.
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