Rising use of carotene as a viable food additive is boosting the growth trajectory of carotene market. Increasing consumer propensity for inclusion of naturally-sourced food ingredients is also a key factor responsible for spurring adoption of carotene. The rising vigor of fat-soluble plant pigments in food products is also creating innumerable opportunities for carotene market players.
Owing to its antioxidant capabilities, carotene is also being increasingly adopted in case of personal care products, creating new revenue making opportunities for the players of carotene market. Rising demand for vitamin-A food supplements is on a considerable rise, fostering demand for carotene as a key source of vitamin A.
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Global Carotenes Market: Dynamics
End consumers prefer fortified and functional foods and beverages, which are rich in specific food ingredients to address particular health concerns. Consumers who seek food sources rich in vitamin A and similar supplements prefer carotene-rich food products, especially beta-carotene, which has a high rate of conversion into vitamin A and addresses the health issue of night blindness. Other than this, carotenes are also preferred due to their antioxidant properties; however, the excessive consumption of vitamin A or carotenes is highly toxic and increases the probability of lung cancer in smokers.
The need for a doctor’s prescription restricts the dietary supplement segment of the carotenes market as consumers need to purchase carotene dietary supplements at a pharmacy. The consumption of carotenes is dictated by several regulations as these are easily available in fruits and vegetables in low concentration and excessive consumption in the form of supplements is toxic to human health. Furthermore, carotenes interact with other specific medications such as statins, orlistat and mineral oils, which can reduce the impact of both, the drug and carotenes. These factors and side effects act as restraints for the global carotenes market.
Competitive landscape:
Some of the key players in the global carotenes market include:
- BASF SE
- Kemin Industries Inc.
- Algatechnologies Ltd.
- Hansen A/S
- Phytone Limited
- Royal DSM N.V.
- Cyanotech Corporation
- Allied Biotech Corporation
- LycoRed Ltd.
- Colormaker, Inc.
- Bio-gen Extracts Pvt. Ltd.
Global Carotenes Market: Segmentation
Segmented on the basis of carotene type as:
- Alpha-carotene
- Beta-carotene
Segmented on the basis of pigment content as:
- Up to 10%
- 10 to 20%
- 20 to 30%
- Above 30%
Segmented on the basis of the form of carotene as:
- Liquid or Oil
- Powder
- Capsule & tablets
Segmented on the basis of end use as:
- Industrial
- Consumer
- Food Color
- Dietary Supplement
Segmented on the basis of geographic regions as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa (MEA)
- Asia Pacific excluding Japan (APEJ)
- Japan
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Carotenes make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Carotenes Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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