LONDON, Oct. 20, 2016 /PRNewswire/ -- "Global
carotenoids market projected to grow at a CAGR of 3.78%"
The global carotenoids market is projected to reach a value of
USD 1.53 billion by 2021, growing at
a CAGR of 3.78% from 2016 to 2021. The market is driven by factors
such as increasing health consciousness among the customers, rising
end-use applications of carotenoids, and increasing preference for
natural coloration. The industrialization of pork, poultry, and
aquaculture business and the rising focus on the quality and
appearance of meat, meat products, and fish are factors driving the
demand of carotenoids in the animal feed sector.
"Astaxanthin accounted for the largest market share in 2015
among the types of carotenoids"
On the basis of type, carotenoids are segmented into astaxanthin,
beta-carotene, lutein, lycopene, canthaxanthin, and zeaxanthin.
Among these, astaxanthin accounted for the largest market share in
2015, followed by beta-carotene and lutein. Astaxanthin is used on
a large scale due to its functional qualities, easy availability,
and application in almost all the industrial sectors.
"Animal feed segment led the market with the largest share in
2015"
On the basis of application, the carotenoids market is led by the
feed segment, followed by the supplements and food segments. The
demand for carotenoids in animal feed is increasing due to the
increasing preference for good quality and appearance of meat, meat
products, and fish. Along with adding nutrients to the feed,
carotenoids also increases the palatability of feed.
"Europe dominated the market
with the largest share"
Europe formed the largest market
for carotenoids in 2015, whereas North
America accounted for the second-largest market share in
2015, and is projected to grow at the highest CAGR from 2016 to
2021. The global carotenoids market is segmented region-wise, with
a detailed analysis of each region by studying the key markets.
These regions include North
America, Europe,
Asia-Pacific, Latin America, and the Rest of the World
(RoW).
Breakdown of profile of primary participants
- By Company Type: Tier 1 – 36 %, Tier 2 – 42%, and Tier 3 –
22%
- By Designation: C level – 69%, Manager level – 31%
- By Region: North America – 22%,
Europe – 56%, Asia-Pacific – 19%, RoW – 3%
Key players identified in the carotenoids market include BASF SE
(Germany), Royal DSM N.V.
(The Netherlands), Chr. Hansen A/S
(Denmark), FMC Corporation (U.S.),
Kemin Industries, Inc. (U.S.), and Cyanotech Corporation (U.S.).
Along with these companies, the other players that have a strong
presence in the carotenoids market include D.D. Williamson & Co., Inc. (U.S.) Allied
Biotech Corporation (Taiwan),
ExcelVite Sdn. Bhd. (Malaysia),
and Döhler Group (Germany).
Reasons to buy this report:
From an insight perspective, this research report has focused on
various levels of analysis—industry analysis (industry trends),
market share analysis of top players, supply chain analysis, and
company profiles, which together comprise and discuss the basic
views on the competitive landscape; emerging and high-growth
segments of the carotenoids market; high-growth regions; and market
drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on carotenoids
offered by the top players in the global carotenoids market
- Product Development/Innovation: Detailed insights on upcoming
technologies, research & development activities, and new
product launches in the carotenoids market
- Market Development: Comprehensive information about lucrative
emerging markets – the report analyzes the markets for carotenoids
across regions
- Market Diversification: Exhaustive information about new
products, untapped geographies, recent developments, and
investments in the global carotenoids market
- Competitive Assessment: In-depth assessment of market shares,
strategies, products, and manufacturing capabilities of the leading
players in the global carotenoids market
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