carotenoids market
The
global Carotenoids
Market size is expected to reach USD 1.85 billion by
2026, exhibiting a CAGR
of 3.57% in the forecast period 2019-2026. The increasing
demand for dietary supplements and functional foods that utilize natural
ingredients such as carotenoids is one of the key factors enabling the growth
of the market, says Fortune Business Insights™ in a report, titled “Carotenoids
Market Size, Share and Industry Analysis By Type (Beta-Carotene, Lutein,
Lycopene, Astaxanthin, Zeaxanthin, Canthaxanthin, and Others), By Application
(Animal feed, Foods & Beverages, Dietary Supplements, Personal Care &
Cosmetic, and Pharmaceuticals), By Source (Synthetic and Natural), and Regional
Forecast 2019 – 2026” the market size stood at USD 1.40 billion in
2018. The increasing popularity of alternative treatment methods for diabetes,
eye disorders, and other lifestyle diseases will contribute positively to the
Carotenoids Market growth.
According to the report, the market by type is classified into Beta-carotene,
astaxanthin, canthaxanthin, lycopene, and lutein astaxanthin, zeaxanthin,
canthaxanthin, and others. The Beta-carotene and astaxanthin are expected to
account for maximum share in the market owing to their usage across food, feed,
and cosmetic industries. Furthermore, the launch of innovative pigments that
are sustainably sourced and provide enhanced functionalities will spur growth
opportunities in the upcoming years. For instance, Phycocyanin from Arthrospira
extracts was approved for use in candy, chewing gum, and other types for
confectionery in the U.S. in 2013 and 2014 by the U.S. Food and Drug
Administration.
The report offers profound insights into all the prevailing trends of the
Carotenoids Market. It shares an all-encompassing study of all the segments and
provides authentically procured data. It is put together after extensive
research followed by descriptive analysis to assist companies, stakeholders,
financers, and potential investors. It is designed with an aim to provide an
absolute depiction of the market size. Moreover, it also covers parts such as
product launches, acquisitions, collaborations & partnerships, and
innovations and industry developments.
Increasing Incidences of Cancer and Diabetes to Fuel Demand for
Carotenoid
The
growing cases of cancer, diabetes, and vision impairment have prompted food
manufacturers and regulatory authorities to take concrete steps in the
direction of ingredient-formulations in processed foods, dietary supplements as
well as in pharmaceutical offerings. Furthermore, the growing utilization of
carotenoids for age-related disorders and eye-health maintenance will
accelerate the growth of the market during the forecast period.
Nonetheless, health risks associated with the unregulated and excessive
utilization of carotene are factors expected to dampen the growth of the market
in the forthcoming years.
Collaboration Between ExcelVIte and USP to Spur Lucrative Business
Opportunities
ExcelVite,
a PIC/S cGMP-certified palm carotene producer partnered with USP and its Non-Botanical
Dietary Supplements Expert Committee to publish a new Plant Carotenes
monograph. The monograph was developed based on ExcelVite’s palm oil-sourced
mixed carotene complex, EVTene, a natural plant mixed carotene with a similar
alpha- and beta-carotene composition/ratio found in carrots: ~33%
alpha-carotene and ~66% beta-carotene. The partnership between ExcelVIte and
USP is expected to create growth opportunities in the foreseeable future owing
to its analytical methods and highest ingredients standards. Furthermore, the
launch of new daily health beverages is likely to bolster the growth of the
market. For instance, GacLife, solutions by nature beverage brand, launched
five new daily health beverages, which include the highest amount of
antioxidant carotenoids to provide powerful antioxidant protection for the
whole body.
Well-established
Cosmetics Industry to Contribute Healthy Growth in Europe
The
market is Europe witnessed high growth in 2018 and is expected to grow rapidly
during the forecast period. The well-established cosmetics industry, along with
the rising demand for carotenoids as a food coloring agent in the food
industry, will enable growth in Europe. The increasing customer awareness
regarding food quality, safety, social convenience, and sustainability will
boost the Carotenoids Market trends in the forthcoming years. The growing
consumption of carotenoids in counties of Africa and Southeast Asia owing to
the deficiency of vitamin A will encourage the growth of the market in the
regions.
Read More About Press Release:
https://www.fortunebusinessinsights.com/press-release/savory-ingredients-market-9193
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