Food, Nutrition & Animal Feed Carotenoids Market - PDF

Carotenoids Market share to exceed $ 300 Mn by
2024: Global Market Insights Inc.
The research report Carotenoids Market Size By Source (Natural, Synthetic), By
Product (Beta-carotene, Lutein, Astaxanthin, Canthaxanthin, Lycopene), By
Application (Food & beverages, Pharmaceutical, Cosmetics, Animal Feed,
Dietary supplements), Industry Analysis Report, Regional Outlook (U.S, Canada,
Germany, UK, France, Spain, Italy, Russia, Poland, The Netherlands, China,
Japan, India, Australia, Malaysia, Indonesia, Thailand, Singapore, South Korea,
Brazil, Argentina, South Africa, UAE, Saudi Arabia), Growth Potential, Price
Trends, Competitive Market Share & Forecast, 2016 – 2024 by Global Market
Insights, Inc. says, Global Carotenoids Market size is set to exceed USD 300 Million
by 2024
Rising application scope in dietary supplements and food & beverages industry due to
its benefits associated with immune system and cardiovascular health will stimulate
global market size growth. Offering antioxidation in the body by deactivating free
radicals is among the key trending factors fueling product penetration in consumer
diet.
Easy availability and comparatively less production cost makes the synthetic
carotenoids market size a dominant industry segment. However, rising health
consciousness pertaining to synthetic ingredients in food and personal care products
will continue strengthening the drive for natural ingredients.
Animal feed applications accounted for over 30% of the global demand in 2015.
Increasing palatability, high nutrient content, and animal sense organs enhancement
has fueled product demand in this segment. Growing consumer demand for healthy
appearance meat and standardized coloring in chicken, eggs, and salmons will foster
industry growth.
Latin America, led by Argentina and Brazil carotenoid market will witness significant
gains. LATAM accounted for over 4% of the global industry share in 2015. Income
upliftment in middle class population, changing lifestyle, well-informed & more
demanding consumers are driving products demand in Peru and Chile as well. Brazil
is foreseen to be an attractive market in terms of raw material availability and strong
supply chain network in the U.S.
Beta-carotene market size generated over USD 40 million in sales for 2015, and the
product is foreseen to witness 4% growth. Maintaining eye & skin health, curing
cardiovascular disease with addition to the product in diet will fuel product demand.
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