Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
According to the report “North America Carotenoids Market by Source (Synthetic and Natural), by Type (Astaxanthin, Beta-Carotene, Canthaxanthin, Lutein, Lycopene, and Zeaxanthin), by Application (Supplements, Feed, Cosmetics, and Food), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the North America Carotenoids Market is expected to reach USD 0.34 billion by 2021 from USD 0.29 billion in 2016, growing at a CAGR of 3.65%.
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The Carotenoids market is forecasted to show great potential over the mentioned period. The market has continued to gain momentum with the shooting high demand for the natural sourced carotenoids in the market.
Carotenoids are class of plant pigments responsible for the bright red, orange and yellow hues in various fruits and vegetables.
They assist plants in the process of photosynthesis by helping them in absorbing light energy and are thus the reason behind the colour of plants or the fruits & vegetables. They also act as antioxidants in plants as well as human body.
The rising demand for natural colorants have been a key factor behind the growth of the market of carotenoids in the recent years. Other important factors driving the market growth are expanding end user applications, industrialization in sectors like poultry, pork, and aquaculture, preventive nutraceuticals and healthcare.
The market has also been facing few restraints and challenges. These include lack of R&D in remote regions, harmful effects of high dose of carotenoids, and stringent government regulations as well as approval norms.
These factors are responsible for holding back the market from reaching its actual potential, and are thus required to be dealt with.
The North America Carbohydrase market is segmented by source, type and application. On the basis of segmentation by source, the segments are Synthetic and Natural.
The market segmentation based on type is done into Beta-Carotene, Canthaxanthin, Astaxanthin, Lycopene, Lutein, Zeaxanthin. Based on segmentation by application the market is categorized into Supplements, Cosmetics, Feed, Food.
On the basis of geography, the North America market is analysed under various regions namely United States and Canada.
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Some of the leading players of the market are:
- BASF SE
- Chr. Hansen A/S
- FMC Corporation
- Royal DSM N.V.
- Cyanotech Corporation
- D.D. Williamson & Co., Inc.
- Döhler Group
- Kemin Industries Inc.
- Allied Biotech Corporation
- Excelvite SDN. BHD
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