Carotenoids Market Is Expected to Expand Significant CAGR from 2016 to 2024

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Global Carotenoids Market size to exceed USD
300mn by 2024
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Key Insights from Carotenoids Market

• Carotenoids Market size is estimated to exceed
  USD 300 million by 2024 according to a new
  research report by Global Market Insights, Inc.
  Rising consumer and producer preference for
  carotenoids owing to its high value in the
  pharmaceutical, food, and cosmetic industry will
  fuel the industry growth. These products act as a
  vital precursor to amino acids in feedstocks and
  have coloring antioxidant properties, which is
  driving product penetration. Moreover, benefits
  such as reducing the risk of cardiovascular
  diseases, increasing immunity, and improving eye
  health will further promulgate the demand for
  carotenoids infused products.
• Factors such as the prevalence of the chronic
  disease, drug affordability, and favorable
  government policies concerning drug formulations
  will drive product demand across the
  pharmaceutical sector. Carotenoids are a major
  source of antioxidants owing to which it is used
  in various nutraceutical formulations for
  treating high cholesterol and blood pressure.
  Also, the presence of essential micronutrients
  such as vitamin A, vitamin D, etc. will further
  enhance its scope in functional food
  applications.Stringent regulations pertaining to
  food additives will create hindrance for
  carotenoids market growth. For instance, FAO has
  regularized limit of beta-carotene to 400 mg/kg
  for breakfast cereals to avoid health risk
  associated with high dosage. However, a
  regulatory framework designed to limit the
  impacts of carotenoids on the environment,
  humans, and animals will provide a positive scope
  for industry development.

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Continued...

• The market is fragmented in nature due to the
  presence of international and regional players.
  Key industry players include BASF, DSM, Chr.
  Hansen, FMC Corporation, Dohler Group, Lycored,
  Kemin Industries, Inc, and Cyanotech Corporation.
  Other prominent players in the market include
  Divis Laboratories, Allied Biotech Corporation,
  D.D. Williamson Co., Inc, and Naturex. New
  product development, RD investment, mergers
  acquisitions, portfolio expansion, and strategic
  collaborations are among the key strategies
  adopted by the industry participants for
  elevating their market share. For instance, in
  July 2011, DSM announced the acquisition of
  Vitatene SAU intending to expand its market share
  in the natural carotenoid segment.
• The market is driven by strong RD investment and
  new product developments. This has prompted
  research towards microbial generation as a means
  of obtaining a better yield. Expansion of
  production facilities and product innovations are
  boosting overall industry growth. Technological
  advancements in synthetic engineering will
  support market growth as it can reduce the
  production cost of synthetically derived
  products. Carotenoids not only act as a vital
  precursor to amino acids but also has antioxidant
  and colouring properties thereby driving product
  demand. Also, expansion of various end-use
  industries including food beverage,
  pharmaceutical, cosmetics, dietary supplement,
  and animal feed will further boost overall
  industry share.

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Europe Carotenoids Market, By Product, 2015
2024, (USD Million)

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