The Global Market for Carotenoids

Published - Jul 2015| Analyst - Ulrich Marz| Code - FOD025E
The Global Market for Carotenoids
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Report Highlights

The global carotenoid market value was $1.5 billion in 2014. This market is expected to reach nearly $1.8 billion in 2019, with a compound annual growth rate (CAGR) of 3.9%.

Report Includes

  • An overview of the global market for carotenoids.
  • Analyses of global market trends, with data from 2013, estimates for 2014, and projections of compound annual growth rates (CAGRs) through 2019.
  • A review of commercial carotenoids with the objective of providing detailed insight into production technologies, market developments, and market dynamics
  • Details on Annatto, Astaxanthin, Beta-carotene, Beta-apo-8-carotenal, Beta-apo-8-carotenal-ester, Canthaxanthin, Capsanthin and paprika extract, Lutein, Lycopene, Zeaxanthin, and others
  • Information concerning the relevance of different production systems, application segments, and regional distribution.

Report Scope

The report reviews the global markets for the following commercialized carotenoids:

  • Annatto
  • Astaxanthin
  • Beta-carotene
  • Beta-apo-8-carotenal
  • Beta-apo-8-carotenal-ester
  • Canthaxanthin
  • Capsanthin and paprika extract
  • Lutein
  • Lycopene
  • Zeaxanthin

The report provides a synopsis of the current carotenoid market, shows the relative competitiveness of individual carotenoids and discusses, using quantitative figures, the relevance of different production systems, application segments, regional distribution and dominant players.

One chapter comprehensively discusses the different modes of carotenoid production, contrasting chemical synthesis, fermentation systems and extraction from botanical sources. A general outline is provided on current trends in the major application sectors of carotenoids, food, feed and nutritional supplements. The product section discusses markets and market trends for each carotenoid in detail. The report identifies each product, , discusses commercial formulations and reviews current regulatory status in the major markets. Consumption data from 2014-2019 identifies trends and determines the position of the product at the sigmoid life cycle curve. Similarly, long price series allow the analysis of trends and of possible inflexion points. The chapter on marketing strategies and market shares of major players provides an overview of the current situation and as well as a forecast of future trends, prices, consumption and market values by 2019.

The methodology applied in this report is based on both the analysis of the manufacturing industry and the user community. The user community is composed of companies active in the typical application segments of food, feed and supplements and, to a smaller extent, cosmetics. The report identifies application trends from past years and analyzes company strategies and behavior. Insight into usage patterns is provided, leading to preliminary estimates on quantities used and market values of specific products. Such information is cross-checked with production data from manufacturers. A detailed analysis of manufacturing patterns provides information on formulation trends and on how products are marketed. Considering framework conditions that affect future demand, estimates on developments in specific carotenoids are provided, leading to forecasts through 2019.

Analyst Credentials

Dr. Ulrich März graduated in 1984 as an agro-economist from the University of Stuttgart, Germany. After working for 10 years in the fine chemical industry, Dr. März started an independent consulting business for the food, feed and agro-processing industry. His specialities are the evaluation of the food, feed and supplement ingredient markets, the design and market introduction of biotechnologically derived products as well as the economics of fermentation processes. For more than a decade, Dr. März has authored a number of BCC Research technical market reports.

Table of Contents & Pricing

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Published - Sep-2011| Analyst - Ulrich Marz| Code - FOD025D

Report Highlights

The current market value of commercially used carotenoids is estimated at nearly $1.2 billion in 2010, with a chance to grow to $1.4 billion in 2018 with a compound annual growth rate of 2.3%.

Published - Mar-2008| Analyst - Ulrich Marz| Code - FOD025C

Report Highlights

  • The global market for carotenoids was $766 million in 2007. This is expected to increase to $919 million by 2015, a compound annual growth rate (CAGR) of 2.3%.
  • Beta-carotene has the largest share of the market. Valued at $247 million in 2007, this segment is expected to be worth $285 million by 2015, a CAGR of 1.8%.
  • Most carotenoids are still produced by chemical synthesis and will remain so over the study period.
Published - Jun-2005| Analyst - Ulrich Marz| Code - FOD025B

Report Highlights

  • 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.
  • The largest outlet will remain feed, mainly because of the outstanding importance of astaxanthin and canthaxanthin.
  • 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.
  • 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.
Published - Aug-2000| Analyst - Ulrich Marz| Code - FOD025A

Report Highlights

  • The global carotenoid market is estimated to be $786 million, out of which food applications account for $209 million, feed applications for $462 million and pharmaceutical and OTC applications for $115 million.
  • The most important types of carotenoids are astaxanthin, with 28% of total sales, and b-carotene with a similar share. The third largest carotenoid is canthaxantin, with 19% of total sales. All other carotenoids show sales volumes in the range of $10 million to $80 million.
  • The global carotenoid market is supposed to increase to over $900 million in 2005. It is expected that the use of carotenoids will grow in all application segments, but mostly in the OTC sector as these products are among the most prominent for health conscious consumers.

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