Carotenoids Market Size, Share, Growth, Trends, and Forecast 2030

Carotenoids is a bioactive agent, which is used in dietary supplement manufacturing & cosmetic formulations. In addition, carotenoid is one of the most important types of pigments, derived from both synthetic & natural sources.

The global carotenoids market cap may grow owing to the rising demand trends in the nutraceutical & food & beverage industry. Significant growth opportunities can be expected due to the increasing R&D & technological advancement in the carotenoid industry.

According to study, the global carotenoids market size was worth around USD 1700 million in 2022 and is predicted to grow to around USD 2500 million by 2030.

The CAGR value of the carotenoids market is expected to be around 4.64% during 2023-2030.

The global carotenoids market growth is expected to be driven by Asia Pacific. It is currently the world’s highest revenue-generating market owing to the presence of large footprints of end-user sectors such as food & beverage, pharmaceutical, nutraceutical, cosmetics, and animal feed, among others.

The global carotenoids market is led by players like ADM, Algatech LTD, Allied Biotech Corporation, BASF SE, Chenguang Biotechnology Group Co., Ltd., Chr. Hansen Holding A/S, Cyanotech Corporation, Divi's Laboratories Limited, Döhler GmbH, DSM, DYNADIS, E.I.D. - Parry (India) Limited, ExcelVite, Farbest Brands, Fuji Chemical Industries Co., Ltd., Givaudan, Kemin Industries, Inc., Lycored, NovoNutrients, Novus International, Inc, Vidya Herbs Pvt. Ltd., and Zhejiang NHU Co., Ltd.

The report incorporates demand/consumption and in-depth market insights on the global carotenoids industry. The report analyzes the global carotenoids market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the carotenoids industry. Moreover, the study covers the competitive landscape for carotenoids industry.