Carotenoid Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Lutein and zeaxanthin, Beta-carotene, Lycopene, Others), By Application (Food and Beverages, Pharmaceutical, Others), And By Geography - Forecasts From 2022 to 2027

The Carotenoid Market will reach US$2.216 billion in 2030 from US$1.779 billion in 2025 at a CAGR of 4.50% during the forecast period.

Carotenoids are referred to as the most popular pigments that are unnaturally sourced from algae, plants and even bacteria which are photosynthetic. Carotenoids are helpful in enhancing the overall aesthetics of food products by making them visually appealing. They are a class of modern 750 naturally occurring pigments which can be found in the cells of a wide variety of plants. In addition to it, some carotenoids can be converted into vitamin A which is regarded to be an essential component for human health and growth.

The rising awareness about a few medical applications of carotenoids including the increasing demand for natural colourants is regarded to be a few key drivers driving the market growth during the forecast period. Moreover, the increasing application of this product across both food and non-food sectors is expected to provide future growth opportunities for the market.

There are multiple health benefits which are associated with the consumption of food containing tetrapterpenoids which is also another factor that is expected to increase the demand in this market.  For instance, the intake of food rich in beta carotene is recommended by a few scientific as well as government organisations such as the U.S. National Cancer Institute as well as U.S. Department of Agriculture (USDA).

• The growing demand for natural products to propel growth

The carotenoid market is driven by the all-natural trend resonating across the globe. Moreover, the growing stringency towards the chemicals which are used for the application of synthetic food ingredients due to their hazardous impact on animal health is projected to drive the demand of this market in the forecast period.

Along with this, taking into account the global food, beverage and cosmetics industries, it can be noted that the consumer inclination towards products having all-natural ingredients over synthetic tetraterpenoids has increased due to the potential beauty as well as health benefits.  For instance, in August 2020, Peach and Lily which is regarded to be a Korean skincare and beauty products company launched an eye cream, Pure Peach Retinoic Ice Cream, which contains beta carotene as well as Vitamin A. This product has now further resulted in being effective for treating problems such as that fine lines, dark circles and even loose skin near the eyes.

With the rise in health and wellness concerns, the consciousness regarding appearance among consumers has increased remarkably including aesthetics. This certain rise has increased the demand for effective skincare and cosmetic products globally. Carotenoids have been identified to be one of the most powerful antioxidants which can be used in multiple skin care formulations for protecting against UV light exposure, maintaining skin firmness as well as improving skin tone. For instance according to Lucas Meyers Cosmetics, which is regarded to be an Asian cosmetic ingredient company, naturally occurring colourless carotenoids that are found in tomatoes are the ones that can easily be used in the production of natural cosmetics products.

• Europe is anticipated to hold a significant amount of the market share

Europe is anticipated to hold a significant market share in the carotenoid market. The existence of a well-established cosmetics industry and a huge animal feed sector across the region are regarded to be the main drivers for the carotenoids market growth. Consumers in Europe are conscious of their purchasing habits as food labelling is often checked for ingredients’ origin, the impact on the supply chain on the overall environment as well as the manufacturing practises.

 The consumption of tetraterpenoids in Europe is increasing due to their defensive role in curing the deficiency of vitamin A which is regarded to be a prominent public health concern. The increase in health concerns as the substitution of chemical-based carotenoids has resulted in the production of natural pigments which can be used as effective natural colouring agents. Moreover, the rise in the ageing population in the region has also led to a surge in the demand for beta-carotene to reduce the risk of diabetes, cancer and other health-related issues.

The Carotenoid Market Report provides a comprehensive analysis of the global carotenoid industry, offering strategic insights and data-driven forecasts to empower decision-makers with actionable intelligence. This continuously updated report examines current market trends, growth opportunities, and competitive dynamics, focusing on key carotenoid types such as lutein and zeaxanthin, beta-carotene, lycopene, and others. It explores sources, including natural and synthetic carotenoids, and applications, spanning food and beverages, cosmetics & personal care, animal feed, dietary supplements, pharmaceuticals, and others. The report integrates technological advancements, regulatory frameworks, and macroeconomic factors to deliver a holistic view of the Carotenoid Market.

Carotenoid Market Segmentations:

Carotenoid Market Segmentation by type

The market is analyzed by type into the following:

• Lutein and Zeaxanthin
• Beta-carotene
• Lycopene
• Others

Carotenoid Market Segmentation by source:

The report analyzes the market by source as below:

• Natural Carotenoids
• Synthetic Carotenoids

Carotenoid Market Segmentation by application:

The report analyzes the market by application as below:

• Food and Beverages
• Cosmetics & Personal Care
• Animal Feed
• Dietary Supplements
• Pharmaceutical
• Others

Carotenoid Market Segmentation by regions:

The study also analysed the Carotenoid Market into the following regions, with country-level forecasts and analysis as below:

• North America (US, Canada, and Mexico)
• South America (Brazil, Argentina, and Others)
• Europe (Germany, UK, France, Spain, and Others
• Middle East and Africa (Saudi Arabia, UAE, and Others)
• Asia Pacific (China, Japan, India, South Korea, Thailand, Indonesia, and Others)

Carotenoid Market Competitive Landscape:

The carotenoid market sector features leading players such as BASF SE, DSM Nutritional Products, Chr. Hansen Holding A/S, Kemin Industries, Inc., Allied Biotech Corporation, Lycored, FMC Corporation, Döhler GmbH, Sensient Technologies Corporation, Naturex (Givaudan), Algatechnologies Ltd, Farbest Brands, and ExcelVite Sdn. Bhd. 

Carotenoid Market Report Coverage:

This report provides extensive coverage as explained in the points below:

• Market size, forecasts, and trends by different types, with historical revenue data and analysis focusing on key factors driving adoption, current challenges faced by key players, and major growth areas.
• Market size, forecasts, and trends by source, with historical revenue data and analysis.
• Market size, forecasts, and trends by application, with historical revenue data and analysis of sales based on applications.
• The Carotenoid Market is also analyzed across different regions, with historical data, regional share, attractiveness and opportunity of these solutions in different countries. The growth prospects and key players operating in these markets. The section also dwells on the macro factors, economic scenario and other complementing factors aiding in market growth. 
• Market dynamics: The section details the market growth factors, restraints, and opportunities in the market. The segment also presents a complete market scenario with the help of Porter’s five forces model. 
• Competitive Intelligence: A thorough investigation of the competitive structure of the market presented through a proprietary vendor matrix model, market share analysis of key players, insights on strategies of key players and recent major developments undertaken by the companies to gain a competitive edge. 
• Research methodology: The assumptions and sources that were considered to arrive at the final market estimates. Additionally, how our model is refined to ensure the most significant factors are taken into consideration with the proper hypothesis and bottom-up and top-down approaches enhance the reliability of forecasts further strengthening the trustworthiness of the numbers being presented. 

How this report is helpful to you and reasons for purchase?

• This report provides a strategic outlook of the Carotenoid Market to the decision-makers, analysts and other stakeholders in an easy-to-read format for making informed decisions.
• The charts, tables and figures make it easy for the executives to gain valuable insights while skimming the report. 
• Analyst support through calls and emails for timely clarification and incorporating additional requests. 
• Option of presentation or doc format with the estimates file to take care of diverse requirements. 
• 15% FREE customization with all our reports helps cater to additional requirements with significant cost savings. 
• Option of purchasing specific segments of the study, including opting for summary reports or just the estimates file. 

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1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK

5. CAROTENOID MARKET BY TYPE

5.1. Introduction

5.2. Lutein and Zeaxanthin

5.3. Beta-carotene

5.4. Lycopene

5.5. Others

6. CAROTENOID MARKET BY SOURCE

6.1. Introduction

6.2. Natural Carotenoids

6.3. Synthetic Carotenoids

7. CAROTENOID MARKET BY APPLICATION

7.1. Introduction

7.2. Food and Beverages

7.3. Cosmetics & Personal Care

7.4. Animal Feed

7.5. Dietary Supplements

7.6. Pharmaceutical

7.7. Others

8. CAROTENOID MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Spain

8.4.6. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. India

8.6.4. South Korea

8.6.5. Taiwan

8.6.6. Thailand

8.6.7. Indosneisa

8.6.8. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. BASF SE

10.2. DSM

10.3. Chr. Hansen Holding A/S

10.4. Kemin Industries, Inc.

10.5. Allied Biotech Corporation

10.6. Lycored

10.7. FMC Corporation

10.8. Döhler GmbH

10.9. Sensient Technologies Corporation

10.10. Naturex (Givaudan)

10.11. Algatechnologies Ltd 

10.12. Farbest Brands

10.13. ExcelVite Sdn. Bhd.

11. APPENDIX

11.1. Currency 

11.2. Assumptions

11.3. Base and Forecast Years Timeline

11.4. Key benefits for the stakeholders

11.5. Research Methodology 

11.6. Abbreviations 

LIST OF FIGURES

LIST OF TABLES

BASF SE

DSM

Chr. Hansen Holding A/S

Kemin Industries, Inc.

Allied Biotech Corporation

Lycored

FMC Corporation

Döhler GmbH

Sensient Technologies Corporation

Naturex (Givaudan)

Algatechnologies Ltd 

Farbest Brands

ExcelVite Sdn. Bhd.