Mordor Intelligence announces the publication of their research report on the carotenoids market. The report titled “Global Carotenoids Market- Growth, Trends and Forecast” discusses the current landscape and future outlook of the market.
The carotenoids market, estimated at USD XX Million in 2016 is projected to reach USD XX million by 2021, with a compound annual growth rate (CAGR) of XX% percent during the forecast period 2016-2021.
Factors affecting the market:
The carotenoid market is segmented based on type, source and application. By type, carotenoids are further sub-segmented into beta-carotene, astaxanthin, lutein, annatto, apo-carotenal, apo-ester, canthaxanthin, capsanthin, lycopene, zeaxanthin, paprika extracts and others. Among these beta carotene is estimated to have the fastest growth during the 2016-2021 forecast period. It is widely used for food coloring and as a natural supplement.
In terms of application, carotenoids are used in animal feed, dietary supplements, cosmetics, pharmaceuticals and the food & beverages industry. For example, carotenoids are used as color enhancers in natural foods like egg yolk, chicken meat or fish. This improves the aesthetic look of the product and therefore looks more appealing to the customer.
Based on source, carotenoids are classified into natural or synthetic. Carotenoids are found naturally in vegetables like spinach, pumpkin, tomato and carrot. Many carotenoids can be synthetically extracted like beta-carotene, lycopene, lutein, and zeaxanthin.
North America and Europe have the largest carotenoid market. Asia-Pacific is an emerging market as an increasing number of consumers are taking measures in the form of health supplements to prevent diseases. Change in lifestyle and food consumption culture among consumers has led to the growth of the carotenoids market in Asia-Pacific. Latin America has also shown significant growth as there is the rise in pharmaceutical and energy industries.
Some of the major players in the market
About Mordor Intelligence:
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