A new detailed study titled “Global Market Study on Carotenoids: Europe to Lead the Global Market in Terms of Revenue during 2017 - 2026” has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the global carotenoids market is likely to grow at a modest CAGR of 2.7% during the assessment period.
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The report offers a detailed analysis on the key factors that are impacting the growth of the market. According to the report, pervasiveness of health and wellness trend around the globe is one of the key factors that is driving the demand for carotenoids in the food and beverage industry. Growing consumer awareness on the benefits of functional foods is another key factor that is driving growth.
In addition to the food and beverage industry, demand for carotenoids is also increasing in the pharmaceutical industry. Dietary supplement manufacturers are focusing on including carotenoids in their offerings to offer the required benefits to end users. Adoption of carotenoids in the pharmaceutical industry is also likely to provide an impetus to growth during the assessment period.
The report segments the global carotenoids market on the basis of source, application, product type and region. The source segment is further bifurcated into natural and synthetic. The application segment is sub-segmented into Cosmetic & Personal care, Pharmaceutical products, Dietary Supplements, Feed Industry, Food & Beverage Industry and others. The product type segment is categorized into Lycopene, Canthaxanthin, Astaxanthin, Lutein, Beta-Carotene and others. Geographically, the market is divided into key regions globally which are North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan.
View Complete TOC with Tables and Figures at: https://www.mrrse.com/carotenoid-market
According to the report, demand for synthetic carotenoids is likely to witness steady growth throughout the forecast period, whereas adoption of natural carotenoids is growing at a brisk pace, albeit from a low value. Growing awareness on the benefits of natural carotenoids is one of the key factors promoting the growth of the market.
The report profiles some of the leading players operating in the market. Some of these players are Royal DSM N.V., Kemin Industries, Guangzhou Leader Bio-Technology, ExcelVite, FMC Corporation, Farbest Brands, EID Parry, DDW The Color House, Doehler Group, Cyanotech Corporation, BASF, Chr. Hansen, AquaCarotene, Algatechnologies and Allied Biotech. These companies are focusing on increasing their presence in developing countries, and launching cost-effective products to consolidate their position.
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