Report Highlights
The global carotenoid market should reach $2.7 billion by 2027 from $2.0 billion in 2022 at a compound annual growth rate (CAGR) of 5.7% for the forecast period of 2022 to 2027.
Report Includes
- 70 data tables and 35 additional tables
- An overview of the global market for carotenoids
- Estimation of the market size and analyses of global market trends, with data from 2021, estimates for 2022 with projections of compound annual growth rates (CAGRs) through 2027
- 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 and Zeaxanthin, and coverage of their production process, regulatory framework, and applications
- Information concerning the relevance of different production systems, application segments and regional distribution
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances and other key market strategies
- Comprehensive company profiles of the leading players of the industry, including Algatechnologies Ltd., BASF SE, Cyanotech Corp., Kemistar Industries Inc. and Vidya Europe
Report Scope
This report is an update of the BCC Research report FOD025F, The Global Market for Carotenoids, which was published in 2018. While no new types of carotenoids have come on the market in the last three years and no fundamentally new manufacturing technology has been introduced, the market for carotenoids has changed significantly for some product segments. Prices have dropped for a number of products while market value has risen for others.
Producers and users of carotenoids need an up-to-date analysis of the current situation and a well-documented forecast for future trends in the industry as the basis for their strategic and business planning. The report may also help players in other ingredient markets that are considering diversifying to determine whether carotenoids would be a good fit.
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.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2021 | ||||||||||||||||||||
| Forecast period considered | 2022-2027 | ||||||||||||||||||||
| Base year market size | $1.9 billion | ||||||||||||||||||||
| Market size forecast | $2.6 billion | ||||||||||||||||||||
| Growth rate | CAGR of 5.7% from 2022 to 2027 | ||||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||||
| Segments covered | Type, End Use, Application | ||||||||||||||||||||
| Companies studied |
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Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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Report Highlights
The global market for Carotenoids reached $1.5 billion in 2017 and should reach $2.0 billion by 2022, at a compound annual growth rate (CAGR) of 5.7% for the period of 2017-2022
Report Includes
- 82 data tables and 31 additional tables
- An overview of the global market for carotenoids
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
- 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 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 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%.
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.
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.
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.
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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.
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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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