What is the global market size of Carotenoids In Human Nutrition Market?

Global Carotenoids In Human Nutrition Market size was valued at USD 3.01 billion in 2021 and is poised to grow from USD 3.22 billion in 2022 to USD 5.98 billion by 2030, growing at a CAGR of 7.1% in the forecast period (2023-2030).

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 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.

Carotenoids In Human Nutrition Market Report Snapshots

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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).

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. '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.'

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.

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.

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.

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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

Carotenoids In Human Nutrition Market Dynamics

Carotenoids In Human Nutrition Market Report Snapshots

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