REPORT HIGHLIGHTS
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The current worldwide market value of all commercially-used carotenoids is estimated at $887 million for 2004 and expected to rise at an average annual growth rate (AAGR) of 2.9% to just over $1 billion.
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The largest outlet will remain feed, mainly because of the outstanding importance of astaxanthin and canthaxanthin.
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The market value of beta-carotene was estimated at $242 million in 2004. Increasing competition from Asia has resulted in price pressure that will result in a very moderate 2.9% AAGR through 2009. Food still is the most important outlet, where it is widely used as a color.
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The big marketing success of recent years is lutein when it was demonstrated that it could help reduce age-related macular degeneration. This pushed lutein’s market value up to $139 million in 2004.
REPORT SCOPE
The market for ingredients basically found in the food and pharmaceutical area continues to grow much faster than related markets, such as those for feed or industrial chemicals. Examples of highly demanded ingredients are the carotenoids. For many years, the most prominent representative of carotenoids, b-carotene, was used as a food color. Additionally, due to the anti-oxidative properties of carotenoids, the OTC sector has become one of the fastest growing outlets for such products. In addition, the feed area still is a large sector, demanding all entire range of carotenoids to color fish, broilers and eggs.
This BCC report is an update of a previous study issued in 2000. The market situation for carotenoids over the past five years has developed further, and major changes have occurred in certain areas. The main categories of carotenoids still are the same; no new types of carotenoids have entered the market. However, in various product categories, there were developments in technology, applications and markets, as well as suppliers.
This updated report reviews the world of commercial carotenoids, providing detailed insight into production technologies, market developments and dynamics. It gives producers and users of carotenoids a transparent picture of the current situation.
The report contains:
- A synopsis of the current carotenoid market, showing the relevance of different production systems, application segments, regional distribution and the dominating players
- A detailed discussion of each carotenoid, with a review of product identity and sources in nature
- A description of production technology with an emphasis on formulations
- Historic sales figures in terms of quantities, prices and value with forecasts through 2009
- A special emphasis on the beta-carotene market.
The methodology that is applied in this report is based on the following:
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Analysis of the markets in which carotenoids are used. Structures and trends of these markets are analyzed and driving forces identified.
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For each of the so-defined application sectors, the most important carotenoids as well as competing products are identified, and volumes, prices and values estimated.
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Production techniques and formulations used are explained and described.
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Based on comprehensive analysis of the market dynamics, company strategies are analyzed and recommendations are given as to how new players might successfully enter the market or how established companies can react to the challenge of new market entries.
Public information on carotenoids is quite vast. Also, producing companies distribute extensive technical information. Aside from company reports, product brochures and other published documents, it is direct contact with representatives of the relevant industry, however, that produces reliable and quantitative information on carotenoids, ensuring the high quality of this report.
Dr. Ulrich März graduated in 1984 as an agro-economist at the University of Stuttgart, Germany. After more than 10 years working in the fine chemical industry, Dr März started an independent consulting for the food, feed and agro-processing industry. His specialties are the evaluation of food, feed and supplement ingredient markets, the design and market introduction of bio-technologogically derived products as well as the economics of fermentation processes. Over nearly 10 years, Dr März authored a number of BCC technical market reports.
