USD 3.01 billion
Carotenoids In Human Nutrition Market Size, Share, Growth Analysis, By Type(Astaxanthin, Beta-Carotene, Lutein, Lycopene), By Application(Dietary Supplements, Functional Nutrition, Sports Nutrition, Infant Nutrition), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30I2032 |
Region:
Global |
Published Date: February, 2024
Pages:
221
|Tables:
69
|Figures:
75
Carotenoids In Human Nutrition Market Insights
Global Carotenoids In Human Nutrition Market size was valued at USD 3.70 billion in 2022 and is poised to grow from USD 3.96 billion in 2023 to USD 6.86 billion by 2031, growing at a CAGR of 7.1% in the forecast period (2024-2031).
In terms of volume, the carotenoids in human nutrition market is projected to reach 0.1 million tons in 2019 at a CAGR of 5.98%. The industry is gaining traction, thanks to rising demand for carotenoids derived from natural sources. During the forecast period, it is expected to expand at the fastest CAGR in the carotenoids market.
This is due to a growing understanding of the potential advantages of carotenoids in avoiding heart disease, cancer, and treating eye illnesses such as Alzheimer's disease, Parkinson's disease, and macular degeneration. Furthermore, carotenoids have excellent antioxidant qualities and aid in the slowing of the ageing process. These advantages have made carotenoids a popular choice among consumers and food business participants. Furthermore, as consumer concern about the use of synthetic substances in food grows, customers throughout the world are demanding clean-label products. This has increased the need for natural colourants in the food sector, and carotenoids, a red pigment, are now commonly used in the meat industry to colour items such as salmon, trout, and other meat and seafood products.
US Carotenoids In Human Nutrition Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Dietary Nutrition
Fastest Growth
Dietary Nutrition
Growth Rate
7.1% CAGR
Global Carotenoids in Human Nutrition Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Carotenoids In Human Nutrition Market Segmental Analysis
The Global Carotenoids in Human Nutrition Market is segmented based on Type, Application, and Region. Based on the Type, the Global Carotenoids in Human Nutrition Market are segmented as Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, and Others. Based on the Application, the Global Carotenoids in Human Nutrition Market is segmented as Dietary Supplements, Functional Nutrition, Sports Nutrition, and Infant Nutrition. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Carotenoids In Human Nutrition Market Analysis by Type
Beta-Carotene dominated the global carotenoids in the human nutrition market with more than 25% market share in 2021. In terms of value and volume, the lutein sector is expected to expand at the fastest CAGR throughout the forecast period. Plants produce lutein, which is present in a variety of foods. It is found in both human and animal nutrition products. Its widespread acceptance stems from its capacity to cure age-related eye problems such as cataracts and macular degeneration, which is a major reason driving its demand. Carotenoids have been shown to have an inverse association with cancer and other health advantages, which has increased global demand for carotenoids in the pharmaceutical industry.
Global Carotenoids in Human Nutrition Market Share By Application, 2021 (%)
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Carotenoids In Human Nutrition Market Regional Insights
North America held the largest carotenoids in the human nutrition market share in 2021 and is expected to retain its dominance during the forecast period due to the presence of developed economies such as the United States and Canada. Because of developing countries with large populations, such as China, India, and Japan, the Asia Pacific region has emerged as the fastest expanding market. Europe is the second biggest area for the human nutrition industry, thanks to consumer-conscious nations such as Italy, Germany, Spain, the United Kingdom, and France.
Global Carotenoids in Human Nutrition Market By Geography, 2021 - 2028
- Largest
- Fastest
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Carotenoids In Human Nutrition Market Dynamics
Carotenoids In Human Nutrition Market Driver
The dietary supplement industry is significantly increasing global demand for carotenoids.
- Synthetic carotenoids including -carotene, -carotene, lutein, zeaxanthin, lycopene, and -cryptoxanthin are widely utilised in dietary supplements, particularly in North America. However, there is a rising need for naturally derived carotenoids in the pharmaceutical business, and chances to develop in high-growth prospective markets are projected to raise worldwide carotenoids demand.
Carotenoids In Human Nutrition Market Restraint
Low yields and high production costs limit carotenoid production by chemical synthesis or extraction from plants.
- Carotenoid production by chemical synthesis or extraction from plants is hampered by poor yields, which result in expensive production costs. Limitations on non-essential product exports and imports caused by temporary border closure circumstances in some countries are further impeding the growth of this industry.
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Carotenoids In Human Nutrition Market Competitive Landscape
To stay ahead of their industry rivals in a continuously changing business and competitive landscape, companies must keep up with continuing market trends. To do this, global carotenoids producers are taking aggressive initiatives to increase their commercial reach. They are concentrating on developing new marketing techniques, technical advancements, and mergers and acquisitions.
Carotenoids In Human Nutrition Market Top Player's Company Profiles
- DSM N.V.
- BASF SE
- FMC Corporation
- Kemin Industries, Inc.
- Allied Biotech Corporation
- Chr. Hansen Holding A/S
- Döhler Group
- Naturex SA
- Sensient Technologies Corporation
- Lycored Corp.
- E.I. DuPont De Nemours and Company
- Divis Laboratories Ltd.
- Cyanotech Corporation
- Farbest Brands
- Kalsec, Inc.
- ExcelVite Sdn. Bhd.
- Vidya Herbs Pvt. Ltd.
- Carotech Berhad
- Zhejiang Medicine Co., Ltd.
- Guangzhou Leader Bio-Technology Co., Ltd.
Carotenoids In Human Nutrition Market Recent Developments
- In February 2021, BASF committed to launching at least 30 R&D initiatives focused on sustainable agriculture advances by 2030.
- In October 2020, Royal DSM, a worldwide science-based corporation in Nutrition, Health, and Sustainable Living, announced the completion of its €980 million acquisition of Erber Group.
Carotenoids In Human Nutrition Key Market Trends
- Recent findings of carotenoids' health-related advantages are leading to an increased usage of carotenoids as nutraceuticals in the pharmaceutical and cosmetics industries. The synthetic source of carotenoids is expected to gain traction in the future years.
- Owing to their less expensive characteristic than naturally obtained carotenoids, synthetic carotenoids continue to be the most preferred. Until 2031, the category is expected to account for more than 60% of total demand.
Carotenoids In Human Nutrition Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our carotenoids in the human nutrition market analysis, Lutein supplement sales are expanding year after year, and the supplement is predicted to overtake Astaxanthin as the most popular mineral over the forecast period because Lutein plays an important role in keeping the heart healthy and strong plus it also lowers high blood pressure. Companies are increasingly focusing on making Lutein components simpler to deal with for product formulators.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.70 billion |
| Market size value in 2031 | USD 6.86 billion |
| Growth Rate | 7.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Carotenoids In Human Nutrition Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Carotenoids In Human Nutrition Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Carotenoids In Human Nutrition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Carotenoids In Human Nutrition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Carotenoids In Human Nutrition Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Carotenoids In Human Nutrition Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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