The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2123

The carotenoids market size has grown strongly in recent years. It will grow from $1.81 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%.  The  growth in the historic period can be attributed to growing awareness of health benefits, rising demand in food and beverage industry, expanding nutraceutical industry, increasing use in animal feed, government regulations promoting natural ingredients.

The carotenoids market size is expected to see steady growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.  The growth in the forecast period can be attributed to increased focus on sustainable sourcing, continued growth in functional foods and beverages, expanding applications in pharmaceuticals, rising demand for natural colorants, growing popularity in personal care products. Major trends in the forecast period include technological advancements in extraction methods, market expansion in developing regions, rising demand for fortified and functional foods, increasing demand for natural carotenoids, growing awareness of health benefits.

The rise in demand for health supplements is expected to propel the growth of the carotenoids market going forward. A health supplement refers to a product designed to supplement a diet and to bolster, amplify, and promote the body’s overall well-being by improving the healthy functions of the human body. Carotenoids are used in health supplements for their antioxidant properties. It also offers benefits for preventing or addressing conditions like age-related macular degeneration (AMD) and supporting overall health and well-being.

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What Are The Key Trends That Influence 3D IC And 2.5D IC Packaging Market Share Analysis?

Major companies operating in the carotenoids market are developing advanced production technologies to increase their profitability in the market. Advanced production technologies involve the use of innovative technologies to improve the efficiency, productivity, and sustainability of carotenoid production processes.

Which Market Players Are Driving Growth In The Carotenoids Market?

Major companies operating in the carotenoids market report are BASF SE, F. Hoffmann-La Roche AG, Novo Nordisk, Koninklijke DSM N.V., Givaudan, FMC Corporation, Sun Pharmaceutical Industries Ltd., Dohler Group, Cipla Limited, Chr. Hansen Holding A/S, Brenntag North America Inc., Zhejiang Medicine Co. Ltd., Divis Laboratories Ltd., Zhejiang NHU Co. Ltd., Kemin Industries Inc., Naturex SA, E.I.D. Parry Limited, Novus International Inc., LycoRed Corp., Beijing Gingko Group, Cyanotech Corporation, ExcelVite Sdn. Bhd., Fuji Chemical Industry Co Ltd., Allied Biotech Corporation, Sensient Colors LLC, Vinayak Ingredients India Pvt. Ltd., Bio Extracts Ltd., Algatechnologies Ltd., Valensa International LLC, Nutralliance Inc.

How Is The Global Carotenoids Market Segmented?

1) By Type: Astaxanthin; Beta-Carotene; Lutein; Lycopene; Canthaxanthin; Zeaxanthin; Other Types
2) By Source: Natural; Synthetic
3) By Form: Beadlets; Powder; Liquid; Gel; Other Forms
4) By Application: Feed; Food And beverages; Dietary Supplements; Cosmetics; Pharmaceuticals

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The Carotenoids Global Market Report 2024 provides an overview of the carotenoidsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The carotenoids market forecast analyzes carotenoids market size, carotenoids market share, leading competitor and their market positions.

The Table Of Content For The Carotenoids Market Include

1. Carotenoids Market Executive Summary
2. Carotenoids Market Segments
3. Carotenoids Market Size And Template Market Growth Rate
4.  Key Carotenoids Market Trends
5. Major Carotenoids Market Drivers
……
25. Key Mergers And Acquisitions In The Carotenoids Market
26. Top Carotenoids Companies
27. Carotenoids Market Opportunities And Strategies
28. Carotenoids Market, Conclusions And Recommendations
29. Appendix

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