Fact.MR has carefully analyzed the global market for carotenoids which is experiencing significant demand from customers who seek natural colors and supplements. Inclination towards organic certified colors is another major driver pushing the market for carotenoids during the period between 2018 and 2027. The study published by Fact.MR is titled “Carotenoids Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2027“, which delivers qualitative and quantitative analysis focusing on the trends, market dynamics as well as market opportunities that are expected to impact the carotenoids market in the near future.
According to study specifics, the global market for carotenoids is expected to witness major growth during the forecast period, with demand exceeding 5 million kg in 2018. Further, the carotenoids market is likely to deliver 5.1% CAGR in terms of volume during the review period.
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Food & Beverage Industry Showcasing Greater Demand for Carotenoids
It has been noticed that rising demand from customers for clean and natural products extracted from natural colors is expected to act as a key growth driver for the carotenoids market. In addition, prevailing health and wellness movements are working towards the higher adoption of carotenoids amid food and beverage processors.
The utility of lycopene and beta-carotene as colorants in the F&B sector remains to climb a higher path, says Fact.MR study. Beta-carotene is majorly used in cheese, yogurts, spreads, sauces, soups and bakery products. On the other hand, lycopene is receiving surging demand due to its effectiveness as a colorant in soups and sauces. S Higher consumer awareness associated to the benefits of carotenoids concerning eye health, cardiovascular health and immune function functions as a primary growth driver.
Europe Retains its Dominance in the Global Carotenoids Market
As per this assessment, Europe will operate as the most lucrative region for the carotenoids market. The demand in this specific market region exceeded 2 million kg in 2018. Quite recently, carotenoids have become immensely popular among health-conscious consumers living in different parts of Europe. Moreover, the preference towards carotenoids as the prime food coloring agent is another factor motivating their demand in the region.
Apart from Europe, the demand for carotenoids is swelling prominently across Asia Pacific Excluding Japan (APEJ). A variety of nations like India, China, and Vietnam are projected to see healthy growth in feed carotenoids with rise in meat intake as well as wide acceptance of fresh farming methods.
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Storage and Ingredient Compatibility Swing as Major Challenges
The attainment of vibrant colors concerning different food products using natural colors remain as a key challenge. It should be known that natural colors are unsuited with ‘one-size fits all’ food processing method. Further, cold storage for preserving the integrity of naturally obtained color is also challenging since opening and closing of storage part can cause microbial contamination or product degradation.
Another challenge for the carotenoids market is ingredient compatibility. Upsurge in process variation across the food processing industry is influencing ingredient interaction. Additionally, oil-based naturally sourced colors comprising of carotenoids and paprika might lead to permanent stains, thereby, creating added challenges for food and beverage processors.
The final section of the report discourse competitive landscape that covers vital information about the leading players from the global carotenoids market. Some of the major manufacturers examined in this study are BASF SE, Archer Daniels Midland Company, Chr. Hansen Holding A/S, Sensient Technologies Corporation, Naturex SA, Cyanotech Corporation, Koninklijke DSM N.V., DDW The Color House, Adama Agricultural Solutions Ltd. and FMC Corporation.
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