Carotenoids Market By Business Outlook, Segmentation and Top Key Players
[170 Pages Report] Carotenoids Market research report categorizes the global market By Type (Beta-Carotene, Lutein, Lycopene, Astaxanthin, Canthaxanthin, Others), By Application (Cosmetics, Dietary Suppplements, Animal Feed, Pharmaceuticals , Other Applications), By Source (Synthetic, Natural), & By Region.
[EUPRwire, Tue Sep 10 2019]
Carotenoids market is likely to witness significant growth in the coming years, with demand surpassing 5 million kg in 2018. Growing demand from customers for natural and clean products made from natural colors and supplements remains a key growth driver for carotenoids market. The prevailing health and wellness trend is also driving adoption of carotenoids among food and beverage processors.
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The use of beta-carotene and lycopene as colorants in F&B sector continues to grow, according to the study. Beta-carotene is widely used in cheese, spreads, yogurts, soups, sauces, and bakery products, whereas lycopene is gaining increasing demand as a colorant in sauces and soups. Consumer awareness on the benefits of carotenoids for eye health, immune function, and cardiovascular health remains a key growth driver.
Although the Fact.MR report is bullish on the prospects of carotenoids market, it opines that the potential applications of carotenoids are yet to be fully explored. This has created significant opportunities for food and beverages companies who are willing to invest and educate customers about various health benefits provided by carotenoids.
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Fact.MR study estimates that Europe will be the most lucrative region for carotenoids market, with the demand exceeding 2 million kg in 2018. Carotenoids have become highly popular among health-conscious consumers in Europe. They also remain one of the most preferred food coloring agents in the region.
The adoption of carotenoid-rich food by consumers is also influenced by positive recommendations by research institutes. International Carotenoid Society, Spanish Carotenoid Network, and Eurocaroten in Europe are working towards improving the knowledge about carotenoids and study of carotenoids as functional food ingredients.
In terms of the dietary source of carotenoids, carrots have emerged as the major source of beta-carotene in various countries in Europe. Within Europe, there is difference in specific intake of some carotenoids depending on the foods consumed in different countries. For instance, peas are the major source of lutein in the UK and Republic of Ireland, while spinach is the source of lutein in other countries.
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Fact.MR’s methodology is robust and comprehensive. We employ a range of tools and assets to develop an all-encompassing coverage of a range of industries. We compile data points at local, country, regional, and global level – our approach to capturing the finest nuances, without losing sight of the bigger picture helps us in developing accurate and reliable forecasts and estimates.
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The standardization also involves use of industry-wide analytical tools, and rigorous quality checks to validate market forecasts and sizes. Our unwavering focus on standardization ensures that clients receive the same quality of research and analysis that Fact.MR is known for.
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