Carotenoid Market Showing Strong Growth

SAN JOSE, Calif.The carotenoid market is robust, according to a new report, Carotenoids: A Global Strategic Business Report," from Global Industry Analysts Inc. The rising demand for natural food products and natural food colors is helping fuel growth worldwide, as is the demand for fortified food products.

According to the report, the United States and Europe account for a major share of sales in the global carotenoids market, but China, India, Japan and Malaysia are expected to post significant sales over the next few years.

Beta-carotene represents the largest product segment, due to its health benefits and extensive use as a food-coloring agent. Canthaxanthin, also extensively used as a food color,  is expected to make rapid gains in the global carotenoids market.

Animal feed represents the largest end-use segment for carotenoids, but the food segment is expected to witness robust growth, driven largely by the use of carotenoids as antioxidants. Astaxanthin, lutein and canthaxanthin are expected to garner huge popularity due to their growing utilization in animal feed and in the food industries.

The report notes that the global carotenoids market is predominated by the presence of DSM and BASF. Major players profiled in the report include Algatechnologies Ltd., Allied Industrial Corporation Ltd., BASF SE, Carotech Bhd, Chr. Hansen A/S, Cognis Group, Cyanotech Corporation, Kemin Industries Inc., LycoRed Ltd., Map Technologies Ltd., Phytone Limited, Royal DSM N.V., and Valensa International LLC.

The report provides a strategic review of the industry, key market trends, review of all the major products, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections for the following geographic markets - US, Europe, and Rest of World. Key segments analyzed include astaxanthin, beta-carotene, lutein, canthaxanthin, and other carotenoids.