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Report
The Global Market for Carotenoids
Market Research Report I 2025-03-13 I 105 Pages I BCC Research
Description
Report Scope
This report provides market projections for the global carotenoids market from 2024 through 2029. It also analyzes the market shares of leading companies. Based on source, the carotenoids market is segmented into synthetic and natural. Based on product, the market is segmented into astaxanthin, beta carotene, lutein, lycopene, canthaxanthin and others. It is further segmented by application into food and beverages, dietary supplements, feed and others. Regional estimates and forecasts include North America, Europe, Asia-Pacific, South America and the rest of the world.
Report Includes
- 45 data tables and 42 additional tables
- An up-to-date review and analysis of the global market for carotenoids
- Analyses of the global market trends, with sales data for 2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation and forecast the overall market size for carotenoids and their corresponding market share analysis by product, source, application, and region
- Coverage of commercial carotenoids with detailed insight into production technologies, market developments and market dynamics
- Information on Annatto, Astaxanthin, Beta-carotene, Beta-apo-8-carotenal, Beta-apo-8-carotenal-ester, Canthaxanthin, Capsanthin and paprika extract, Lutein, Lycopene and Zeaxanthin, and coverage of their production process, regulatory framework, and applications
- Highlights of the market potential for carotenoids, and areas of focus to forecast this market into various segments and sub-segments
- In-depth information (facts and figures) concerning market drivers, opportunities, challenges and other demographic and economic factors that will drive future demand for this market
- Review of the current market status, key technology issues, industry value chain, Porter's five forces analysis, competitive scenario, R&D activities, and COVID-19 implications on the progress of this market
- A discussion on ESG challenges and practices of the industry
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies
- Company profiles of major players within the industry, including BASF, DSM Firmenich, Divi's Laboratories Ltd., and Givaudan
Executive Summary
Summary:
The global market for carotenoids is estimated to increase from $2.1 billion in 2024 to reach $2.9 billion by 2029, at a compound annual growth rate (CAGR) of 6.7% from 2024 through 2029.
The global carotenoids market reached a value of $2 billion in 2023 and is expected to grow at a CAGR of 6.7%, reaching $2.9 billion by the end of 2029. Europe led the carotenoid market in 2023, driven by growing demand for natural and clean colorants in food and beverage products. The market is predicted to rise at a CAGR of 6.1% through 2029.
Carotenoids are naturally occurring color pigments widely used in food, beverages, animal feed, pharmaceutical, nutraceutical, dietary supplements and cosmetic industries. They are produced naturally from plants, algae, bacteria, yeast and mold or synthetically from chemicals.
Carotenoids are increasingly used to produce various health supplements, such as beta-carotene, which is used to make vitamin A. The rising demand for dietary supplements globally drives the demand for carotenoids. Increasing animal feed consumption in developing regions like India, Brazil and South Africa is expected to drive the demand for carotenoids throughout the forecast period. Additionally, growing consumer awareness of health, wellness and environmental impact fuels the demand for carotenoids, supporting market growth.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Chapter 2 Market Overview
Overview
Regulatory Analysis
PESTEL Analysis
Porter's Five Forces Analysis
Bargaining Power of Buyers: Moderate
Bargaining Power of Suppliers: High
Potential for New Entrants: High
Threat of Substitutes: Moderate
Competitiveness in the Industry: High
Chapter 3 Market Dynamics
Global Market Dynamics
Market Drivers
Increasing Demand for Dietary Supplements?
Growing Animal Feed Industry
Rising Demand for Natural Color Additives
Market Restraints
Lower Stability and Water Solubility
Higher Production and Processing Cost
Market Opportunities
Increasing Demand from the Cosmetics Industry
Chapter 4 Patent Analysis
Patent Analysis
Patent Review, by Type
Patent Review by Region/Country
Selected Patents for Carotenoids
Chapter 5 Market Segmentation Analysis
Segmentation Breakdown
Market Analysis by Source
Natural
Synthetic
Market Analysis by Product
Astaxanthin
Beta Carotene
Lutein
Lycopene
Canthaxanthin
Others
Market Analysis by Application
Food and Beverages
Dietary Supplements
Feed
Others
Geographic Breakdown
Market Analysis by Region
Europe
North America
Asia-Pacific
South America
Rest of the World
Chapter 6 Competitive Intelligence
Competitive Landscape
Company Product Portfolios
Chapter 7 Sustainability in Carotenoids Market: ESG Perspective
Introduction to ESG
Industry ESG Performance Analysis
Concluding Remarks from BCC
Chapter 8 Appendix
Methodology
Sources
Abbreviations
Company Profiles
ALLIED BIOTECH CORP.
BASF
BIOEXTRACT
CYANOTECH CORP.
DIVI'S LABORATORIES LTD.
D?HLER GMBH
DSM-FIRMENICH
E.I.D. - PARRY (INDIA) LTD.
EW NUTRITION
FARBEST BRANDS
GIVAUDAN
KEMIN INDUSTRIES INC.
LYCORED
NHU ZHEJIANG
SENSIENT TECHNOLOGIES CORP.
List of Tables
Summary Table : Global Carotenoids Market, by Region, Through 2029
Table 1 : Key Regulations for Carotenoids
Table 2 : Key Patents for Carotenoids, 2021-2025
Table 3 : Global Carotenoids Market, by Source, Through 2029
Table 4 : Global Natural Carotenoids Market, by Region, Through 2029
Table 5 : Global Synthetic Carotenoids Market, by Region, Through 2029
Table 6 : Global Carotenoids Market, by Product, Through 2029
Table 7 : Global Astaxanthin Market, by Region, Through 2029
Table 8 : Global Beta Carotene Market, by Region, Through 2029
Table 9 : Global Lutein Market, by Region, Through 2029
Table 10 : Global Lycopene Market, by Region, Through 2029
Table 11 : Global Canthaxanthin Market, by Region, Through 2029
Table 12 : Global Other Carotenoids Market, by Region, Through 2029
Table 13 : Global Carotenoids Market, by Application, Through 2029
Table 14 : Global Carotenoids Market for Food and Beverage Applications, by Region, Through 2029
Table 15 : Global Carotenoids Market for Dietary Supplement Applications, by Region, Through 2029
Table 16 : Global Carotenoids Market for Feed Applications, by Region, Through 2029
Table 17 : Global Carotenoids Market for Other Applications, by Region, Through 2029
Table 18 : Global Carotenoid Market, by Region, Through 2029
Table 19 : European Carotenoids Market, by Country, Through 2029
Table 20 : European Carotenoids Market, by Source, Through 2029
Table 21 : European Carotenoids Market, by Product, Through 2029
Table 22 : European Carotenoids Market, by Application, Through 2029
Table 23 : North American Carotenoids Market, by Country, Through 2029
Table 24 : North American Carotenoids Market, by Source, Through 2029
Table 25 : North American Carotenoids Market, by Product, Through 2029
Table 26 : North American Carotenoids Market, by Application, Through 2029
Table 27 : Asia-Pacific Carotenoids Market, by Country, Through 2029
Table 28 : Asia-Pacific Carotenoids Market, by Source, Through 2029
Table 29 : Asia-Pacific Carotenoids Market, by Product, Through 2029
Table 30 : Asia-Pacific Carotenoids Market, by Application, Through 2029
Table 31 : South American Carotenoids Market, by Country, Through 2029
Table 32 : South American Carotenoids Market, by Source, Through 2029
Table 33 : South American Carotenoids Market, by Product, Through 2029
Table 34 : South American Carotenoids Market, by Application, Through 2029
Table 35 : Rest of the World Carotenoids Market, Through 2029
Table 36 : Rest of the World Carotenoids Market, by Source, Through 2029
Table 37 : Rest of the World Carotenoids Market, by Product, Through 2029
Table 38 : Rest of the World Carotenoids Market, by Application, Through 2029
Table 39 : Market Share Analysis, 2023
Table 40 : Product Portfolios of Key Players
Table 41 : ESG Risk Rating for Food Additives Companies, 2024
Table 42 : Net-Zero GHG Commitments, by Major Carotenoids Companies, 2024
Table 43 : Report Information Sources
Table 44 : Abbreviations Used in this Report
Table 45 : Allied Biotech Corp.: Company Snapshot
Table 46 : Allied Biotech Corp.: Product Portfolio
Table 47 : Allied Biotech Corp.: News/Key Developments, 2024
Table 48 : BASF: Company Snapshot
Table 49 : BASF: Financial Performance, FY 2022 and 2023
Table 50 : BASF: Product Portfolio
Table 51 : BioExtract: Company Snapshot
Table 52 : BioExtract: Product Portfolio
Table 53 : Cyanotech Corp.: Company Snapshot
Table 54 : Cyanotech Corp.: Financial Performance, FY 2022 and 2023
Table 55 : Cyanotech Corp.: Product Portfolio
Table 56 : Divi's Laboratories Ltd.: Company Snapshot
Table 57 : Divi's Laboratories Ltd.: Financial Performance, FY 2022 and 2023
Table 58 : Divi's Laboratories Ltd.: Product Portfolio
Table 59 : D?hler GmbH: Company Snapshot
Table 60 : D?hler GmbH: Product Portfolio
Table 61 : DSM-Firmenich: Company Snapshot
Table 62 : DSM-Firmenich: Financial Performance, FY 2022 and 2023
Table 63 : DSM-Firmenich: Product Portfolio
Table 64 : DSM-Firmenich: News/Key Developments, 2023
Table 65 : E.I.D. - Parry (India) Ltd.: Company Snapshot
Table 66 : E.I.D. - Parry (India) Ltd.: Financial Performance, FY 2022 and 2023
Table 67 : E.I.D. - Parry (India) Ltd.: Product Portfolio
Table 68 : EW Nutrition: Company Snapshot
Table 69 : EW Nutrition: Product Portfolio
Table 70 : Farbest Brands: Company Snapshot
Table 71 : Farbest Brands: Product Portfolio
Table 72 : Farbest Brands: News/Key Developments, 2022
Table 73 : Givaudan: Company Snapshot
Table 74 : Givaudan: Financial Performance, FY 2022 and 2023
Table 75 : Givaudan: Product Portfolio
Table 76 : Kemin Industries Inc.: Company Snapshot
Table 77 : Kemin Industries Inc.: Product Portfolio
Table 78 : Lycored: Company Snapshot
Table 79 : Lycored: Product Portfolio
Table 80 : Lycored: News/Key Developments, 2024
Table 81 : NHU Zhejiang: Company Snapshot
Table 82 : NHU Zhejiang: Financial Performance, FY 2022 and 2023
Table 83 : NHU Zhejiang: Product Portfolio
Table 84 : Sensient Technologies Corp.: Company Snapshot
Table 85 : Sensient Technologies Corp.: Financial Performance, FY 2022 and 2023
Table 86 : Sensient Technologies Corp.: Product Portfolio
List of Figures
Summary Figure : Global Carotenoids Market, by Region, 2023-2029
Figure 1 : Health Benefits of Carotenoids for Humans
Figure 2 : Carotenoids Market: PESTEL Analysis
Figure 3 : Carotenoids Market: Porter's Five Forces Analysis
Figure 4 : Market Dynamics of Carotenoids Market
Figure 5 : Carotenoid Patents Share, by Patent Status, 2021-2025
Figure 6 : Carotenoid Patents Share, by Major Country/Region, 2021-2025
Figure 7 : Global Carotenoids Market Share, by Source, 2023
Figure 8 : Global Natural Carotenoids Market Share, by Region, 2023
Figure 9 : Global Synthetic Carotenoids Market Share, by Region, 2023
Figure 10 : Global Carotenoids Market Share, by Product, 2023
Figure 11 : Global Astaxanthin Market Share, by Region, 2023
Figure 12 : Global Beta Carotene Market Share, by Region, 2023
Figure 13 : Global Lutein Market Share, by Region, 2023
Figure 14 : Global Lycopene Market Share, by Region, 2023
Figure 15 : Global Canthaxanthin Market Share, by Region, 2023
Figure 16 : Global Other Carotenoids Market Share, by Region, 2023
Figure 17 : Global Carotenoids Market Share, by Application, 2023
Figure 18 : Global Carotenoids Market Share for Food and Beverage Applications, by Region, 2023
Figure 19 : Global Carotenoids Market Share for Dietary Supplement Applications, by Region, 2023
Figure 20 : Global Carotenoids Market Share for Feed Applications, by Region, 2023
Figure 21 : Global Carotenoids Market Share for Other Applications, by Region, 2023
Figure 22 : European Carotenoids Market Share, by Country, 2023
Figure 23 : European Carotenoids Market, by Source, 2023-2029
Figure 24 : European Carotenoids Market, by Product, 2023-2029
Figure 25 : European Carotenoids Market, by Application, 2023-2029
Figure 26 : North American Carotenoids Market Share, by Country, 2023
Figure 27 : North American Carotenoids Market, by Source, 2023-2029
Figure 28 : North American Carotenoids Market, by Product, 2023-2029
Figure 29 : North American Carotenoids Market, by Application, 2023-2029
Figure 30 : Asia-Pacific Carotenoids Market Share, by Country, 2023
Figure 31 : Asia-Pacific Carotenoids Market, by Source, 2023-2029
Figure 32 : Asia-Pacific Carotenoids Market, by Product, 2023-2029
Figure 33 : Asia-Pacific Carotenoids Market, by Application, 2023-2029
Figure 34 : South American Carotenoids Market Share, by Country, 2023
Figure 35 : South American Carotenoids Market, by Source, 2023-2029
Figure 36 : South American Carotenoids Market, by Product, 2023-2029
Figure 37 : South American Carotenoids Market, by Application, 2023-2029
Figure 38 : Rest of the World Carotenoids Market, by Source, 2023-2029
Figure 39 : Rest of the World Carotenoids Market, by Product, 2023-2029
Figure 40 : Rest of the World Carotenoids Market, by Application, 2023-2029
Figure 41 : ESG Pillars for Carotenoids Market
Figure 42 : Research Methodology Steps Used in the Carotenoids Market
Figure 43 : BASF: Revenue Shares, by Business Unit, FY 2023
Figure 44 : BASF: Revenue Shares, Country/Region, FY 2023
Figure 45 : Cyanotech Corp.: Revenue Shares, by Business Unit, FY 2023
Figure 46 : Cyanotech Corp.: Revenue Shares, Country/Region, FY 2023
Figure 47 : Divi's Laboratories Ltd.: Revenue Shares, by Business Unit, FY 2023
Figure 48 : Divi's Laboratories Ltd.: Revenue Shares, Country/Region, FY 2023
Figure 49 : DSM-Firmenich: Revenue Shares, by Business Unit, FY 2023
Figure 50 : DSM-Firmenich: Revenue Shares, Country/Region, FY 2023
Figure 51 : E.I.D. - Parry (India) Ltd.: Revenue Shares, by Business Unit, FY 2023
Figure 52 : E.I.D. - Parry (India) Ltd.: Revenue Shares, Country/Region, FY 2023
Figure 53 : Givaudan: Revenue Shares, by Business Unit, FY 2023
Figure 54 : Givaudan: Revenue Shares, Country/Region, FY 2023
Figure 55 : NHU Zhejiang: Revenue Shares, by Business Unit, FY 2023
Figure 56 : NHU Zhejiang: Revenue Shares, Country/Region, FY 2023
Figure 57 : Sensient Technologies Corp.: Revenue Shares, by Business Unit, FY 2023
Figure 58 : Sensient Technologies Corp.: Revenue Shares, Country/Region, FY 2023
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