Scope of the Study
Carotenoids are plant pigments that are accountable for yellow, red, and orange colors in numerous vegetables and fruits. These pigments play a vital role in plant health. They are also found in the chloroplasts and chromoplasts of plants and other photosynthetic organisms such as some fungi and bacteria. Carotenoids act as antioxidants within the body, protecting against cellular damage, the effects of aging, and some chronic diseases. Carotenoids can be assembled from fats and other basic organic metabolic building blocks of these organisms. Carotenoids are responsible for the characteristic colors to carrots, corn, canaries, and daffodils, as well as egg yolks, rutabagas, buttercups, and bananas. As antioxidants, carotenoids are useful for the protection of vision and combating cellular damage. Lycopene, a type of carotenoid found in tomatoes, helps in keeping the liver, prostate, breast, colon, and lungs healthy.
The market study is being classified by Type (Astaxanthin, Beta-carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin and Others), by Application (Feed, Food, Supplements, Cosmetics and Pharmaceuticals) and major geographies with country level break-up.
BASF SE (Germany), Royal DSM N.V. (Netherlands), Chr. Hansen A/S (Denmark), FMC Corporation (United States), Cyanotech Corporation (United States), Kemin Industries Inc. (United States), D.D. Williamson & Co., Inc. (United States), Dohler Group (Germany), Allied Biotech Corporation (Taiwan) and Excelvite SDN. BHD. (Malaysia) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sensient Colors LLC (United States).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Synthetic Carotenoids market throughout the predicted period.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Synthetic Carotenoids market by Type, Application and Region.
On the basis of geography, the market of Synthetic Carotenoids has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Formulations, the sub-segment i.e. Oil suspensions will boost the Synthetic Carotenoids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Expanding End-Use Applications
- Preventive Healthcare and Nutraceuticals
- Industrialization of Pork, Poultry, and Aquaculture Industry
- Rising Demand for Natural Colorants
Market Trend
- The Rapid Adoption of Healthy Supplements among the People
Restraints
- Harmful Effects of High Doses of Carotenoids
- Stringent Regulatory and Approval Norms
Opportunities
- Awareness about the Medicinal Applications of Carotenoids
- Growing Demand for Naturally Sourced Carotenoids
- The Growth of the Aquaculture Industry
- Development of Different Techniques to Create High-Value Natural Carotenoids
Challenges
- Low Cost-Competitiveness from APAC Regions
On 21 Aug 2018, BASF has launched the next generation of carotenoid formulations Lucantin NXT. The formulations replacing ethoxyquin (EQ) as stabilizer launched in the EU 28 market. New formulations show exceptional performance with high homogeneity, outstanding stability, and long shelf life. and On 16 Aug 2018, the European Commissions has approved DSM request to drop synthetic tag from the carotenoid ingredient. And given the go-ahead to rename the carotenoid zeaxanthin currently listed in the novel food register after an application by DSM Europe.
Key Target Audience
Synthetic Carotenoids Manufacturers, Synthetic Carotenoids Raw Material Suppliers, Synthetic Carotenoids Product Exporters & Importers, Animal Feed Suppliers, Cosmetic Manufacturers and Suppliers, Fertilizer Manufacturers and Pharmaceutical Manufacturers and Suppliers
Customization in the Report Available:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase