Treatment of diabetes, eye disorders and cancer is likely to drive the demand of tetraterpenoids during the
forecast period. Increasing research activities for developing high value natural carotenoids is expected to offer
considerable growth opportunities in the industry during the forecast period. However, the stringent regulatory
framework in developed regions is likely to hamper the industry growth.
Product Insights
In terms of volume, beta-carotenes was the largest product segment, which constituted 24% share of the total
market in the year 2015. These tetraterpenoids are used as colorants, and antioxidants and possess high vitamin
A content. These key attributes are expected to boost the utilization of the product in nutritional foods, personal
care and medical applications, which in turn is likely to propel the market growth in the future.
astaxanthin is another important product type of carotenoids that is expected to illustrate significant
development during the forecast period, owing to its rising usage in human antioxidants, animal feed
ingredients and in seafood processing including shrimps, trout and salmon. Furthermore, astaxanthin is
favorably used in human stamina enhancement and quick wound recovery.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/carotenoids-market
Source Insights
Carotenoids are derived via natural or synthetic sources. Synthetic accounted for the largest volume share in
2015. Furthermore, this source type generated a revenue of USD 903.6 million in 2015. However, due to rising
consumer inclination towards naturally derived ingredients, this segment is expected to depict a diminished
growth during the forecast period.
The natural source type is expected to witness significant volume as well as revenue growth during the forecast
period. The sources under this category include plant leaves, crustacean shells, flowers, bird feathers, fruits and
fish flesh. Growing consumer awareness about health benefits of natural products is likely to propel the demand
in the industry during the forecast period.
Application Insights
Animal feed is the prominent application of carotenoids, which held a revenue share of 41% of the total industry.
Tetraterpenoids are consumed in animal nutrition for boosting immunity.