The Global Carotenoids Market was valued at USD 1.3 billion in 2015 and is projected to grow at a CAGR of 3.2% from 2017 to 2022.
Summary: Carotenoids are any class of fat soluble pigments containing carotene which give mainly orange, yellow, or red color to the plants or animals. Carotenoids can be produced naturally by plants but need to be externally supplied to the human beings. Along with the coloration property, carotenoids are highly nutritious and are used to prevent various diseases like diabetes, obesity, and cancer. Growing occurrences of chronic diseases like cancer, diabetes, obesity and high blood pressure is increasing the health consciousness of the consumers resulting into increased demand for healthy food and supplements.
Increasing importance to the appearance of the food which decides the commercial value of fruits, vegetables as well as meat and meat products these factors are driving the market for carotenoids in the world.
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Usage of carotenoids:
Health supplements, human food, animal feed, cosmetics and pharmaceuticals. The usage of carotenoids is highest in animal feed followed by health supplements and human food. It is also used for coloration of meat and meat products to make them attractive to the buyers.
Europe leads the global carotenoids market followed by North America and Asia-Pacific. France and Germany are then leading country-level markets for carotenoids wherein high usage of carotenoids is done in health supplements and animal feed. The market for Asia-Pacific is the fastest growing market due to rising health conscious population as well as increasing meat industry.
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Leading players include:
BASF SE, Royal DSM N.V., Chr. Hansen A/S, FMC Corporation, Kemin Industries Inc., Allied Biotech Corporation, Cynotech Corporation, D.D. Williamson & Co. Inc., ZMC DIVIS Laboratories, Carotech and LycoRed.
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