New Study Reports âCarotenoids Market 2020 Global Market Opportunities, Challenges, Strategies and Forecasts 2026â has been Added on Fact.MR.OverviewStarting from the fundamental details, the report provides a complete overview of the industry along with a proper market profile. The details provided here about the crucial technologies used for manufacturing and product management purpose makes it easier to have a thorough insight into the Global Carotenoids Market. Based on the information obtained, the market has been segmented into various categories. It predicts the growth rate of the Global Carotenoids Market in between the forecasted period, having a base year as 2020.
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This report focuses Global Carotenoids market, it covers details as following:Competitive Landscape: Notable Highlights
- BASF entered into a deal with Planet to use satellite imaging and data on European farmers to develop analytics to power field zone metrics and insights for the digital farming platform, named as xarvio™. The partnership is likely to kick-off in early 2019. The company’s Germany unit also revised its forecast for 2018, and the company now expects EBIT to fall by 15-20%. The company blamed its chemical segment, low water levels on the Rhine, and weakness in automotive demand for the revision in forecast.
- Koninklijke DSM NV is focusing on acquisitions globally, with plans to buy assets in India. The company is spending in Greenfield projects in India and also opened second plant in Telangana.
- Chr. Hansen, the Danish Technological Institute (DTI), and University of Copenhagen have received The Danish Innovation fund grant to develop the next-generation microbial solution for sustainable agriculture production.
- Givaudan has acquired Naturex following the delisting of shares of Naturex from Euronext Paris stock exchange. The integration process will continue over the coming months.
- Cyanotech Corporation has signed an agreement with Cellana LLC to acquire Kona Demonstration Facility (KDF). The acquisition includes existing equipment and other assets useful to operate a facility.
- ADAMA has entered into a partnership with Pessl Instruments to expand their collaboration in offering smart agricultural applications.
- FMC Corporation won the best R&D pipeline and best application technology for the at-plant 3RIVE 3D® application system. The 3RIVE 3D technology is being tested in cotton, sunflowers, sugar beets, dry beans, and more.
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Carotenoids Market Highly Consolidated Among Tier I Players
Carotenoids market is highly consolidated among tier 1 players. Collectively, Tier 1 players account for over 50% of revenue share in the market. Leading players are focusing on developing smart digital platforms and solutions for sustainable agriculture production, thereby, simplifying carotenoids production process.
Mergers & acquisitions are also among the key focus areas of the leading players to consolidate their position globally. Koninklijke DSM N.V., BASF SE, Chr. Hansen Holding A/S, and Archer Daniels Midland Company are some of the key players in the carotenoids market.
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Growing Demand for Natural Colors in Food, Pharmaceuticals, and Cosmetics Industries
Natural colorants demand in various industries such as food & beverages, cosmetics, and pharmaceuticals is accelerating owing to its health benefits. Carotenoids are gaining consumer interest due to their unique biological functions promoting human health.
In recent years, annatto, rich in two carotenoids including bixin and norbixin, has witnessing growing demand from dairy products, biscuits, flour, snacks, rice, cakes, meat, and soft drinks. Moreover, natural food color sales are growing globally in response to increasing demand for clean label products.
Formulators are exploring natural food colors, influencing consumer perception of the product. Organic certified colors are becoming prominent and new coloring juices are under development process following the National Organic Program (N.O.P) under U.S. Department for Agriculture.
The ban on several synthetic colors in the US is leading to the reformulation of products by EU exporters. This is alleviated by replacing synthetic colors with natural alternatives. Western Europe is likely to be the largest market for natural colors in the near future owing to growing demand for natural coloring by manufacturers. Natural food colors are being commercially produced for pharmaceuticals, due to consumer concerns regarding synthetic coloring.
The color cosmetics market in the US is also gaining popularity with natural and organic brands. FDA has also provided approved list of natural colorants including annatto, caramel, beta-carotene, etc., to be used in cosmetics.
Carotenoid’s Effectiveness in Fighting AMD Boosting Adoption Among Geriatric Population
Research studies conducted across the globe are widening the area of carotenoids and their health benefits. The role of carotenoids in fighting Age-Related Macular Degeneration (AMD) is boosting adoption among the geriatric population. According to the National Eye Institute, AMD is one of the leading causes of vision loss in the US, affecting more than 1.75 million people. Moreover, owing to the rise in the aging population, AMD is likely to increase, affecting around 3 million people by 2020. Meanwhile, the International Agency for the Prevention of Blindness (IAPB) estimates that by 2020, 196 million people may suffer from AMD globally; this figure can increase to 288 million by 2040.
A cohort study revealed that high-intake of multi-carotenoids including zeaxanthin and lutein can reduce the risk of advanced AMD. Increasing emphasis on healthy lifestyle and rising incidences of various diseases are driving the demand for carotenoids in dietary supplements.
Carotenoids also play a prominent role in protecting bodily cells. Several researchers have found that consumption of required amount of food products containing beta-carotene can help fight against Vitamin A deficiency and degenerative diseases.
Carotenoids found in tomatoes have also shown positive outcomes for skin health benefits. Researchers at the Georgia University found a link between carotenoids and maintaining optimal hearing function.
Ingredient Compatibility, Storage and Sourcing Perspectives Remain Biggest Challenges
Obtaining vibrant color for various food products using natural colors continues to be a key challenge. Natural colors are incompatible with ‘one-size fits all’ food processing approach. Cold storage to maintain integrity of naturally sourced color is also difficult as opening and closing of storage unit may lead to microbial contamination and product degradation.
Ingredient compatibility poses another challenge for carotenoids. Rise in process variation in the food processing industry is impacting ingredient interaction. Moreover, oil-based naturally sourced colors including carotenoids and paprika can result in permanent stains, creating further challenges for food and beverage processors.
The trend of fortified drinks is gaining popularity. However, fortification process is causing undesirable color interactions. Fortificants such as vitamins and minerals reacting with pigments are causing color degradation.
Sourcing of natural colors from various geographical locations in which they are grown is an emerging challenge. For instance, carmine and annatto are exported primarily from Latin America and majority of the fruit-based colors come from Europe. Adverse climatic conditions in any of these regions is likely to affect global supply and cost of natural colorants.
In last few years, there has been a significant progress in increasing pro-vitamin A carotenoid content in maize. However, it has been found that carotenoid quality in maize during storage depends on temperature and humidity. Even a slight change in humidity and temperature can lead to degradation of carotenoids.
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Carotenoids are plant pigments responsible for yellow, orange, and bright red hues in fruits and vegetables. Carotenoids are found in cells of a wide variety of plants, bacteria, and algae. There are more than 600 types of carotenoids, beta-carotene, alpha-carotene, beta-cryptoxanthin, lutein, and zeaxanthin are some of the common types of carotenoids.
About the Report
The report on the carotenoids market provides valuable and actionable insights and forecast on the carotenoids market. The report offers a qualitative and quantitative analysis of the trends, and market dynamics, identifying prevailing market opportunities in the carotenoids market. Key regions and countries are also mapped in the carotenoids market report based on the market share.
The carotenoids market report also includes in-depth analysis of the market segments, key players, business strategies, and application areas in carotenoids market.
Analysis of market segmentation helps in determining existing market opportunities. The carotenoids market is segmented into application, type, and source. These key segments are further bifurcated into sub-segments.
Based on the type, carotenoids market is segmented into beta-carotene, lycopene, lutein, canthaxanthin, astaxanthin, and others. On the basis of application, the market is segmented into cosmetics, food & beverages, animal feed, dietary supplements, pharmaceuticals, and other applications.
By source, the carotenoids market is segmented into natural and synthetic. The report also includes regional analysis backed by country-wise analysis.
Additional Questions Answered
In addition to the key insights, the report on the carotenoids market also provide answers to some of the important questions on the carotenoids market.
- Which application is likely to register the highest growth in terms of revenue in carotenoids market by 2019?
- Which region is expected to witness significant growth in carotenoids market in coming years?
- Which type of carotenoid will find largest application in the food and beverage industry in carotenoids market?
- What are the factors impacting the growth of carotenoids market?
- Which is the highly-preferred source of carotenoids in various industries?
The information and forecast on the carotenoids market is provided using an extensive research methodology. The research methodology uses both primary and secondary research to offer insights and data on the carotenoids market. Secondary research includes study of the market through published data which is verified with valid data sources. Primary research includes interview with industry and carotenoids market experts and industry-specific analysts.
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Market DynamicsThe report identifies all the key aspects that drive the super-fast growth of the international Global Carotenoids Market. In this context, it identifies the crucial aspects regarding the pricing part of the concerned product. It analyses the market value of each of the products and services as well in the report, including the various kinds of volume trends. Prime aspects that are covered in this report range from the effect of growing population at international level, accelerating technological growth, and the analysis of level of demand and supply as evident in the Global Carotenoids Market. The report also covers extensive studies regarding various effects in relation to the initiatives taken by the government and the competitive platform that is there in the Global Carotenoids Market in between the forecasted period. Segmental AnalysisThe report does thorough segmentation of international Global Carotenoids Market upon taking various factors associated with the growth of the market. It does a thorough regional segmentation. These segmentation based studies are done with an intention of achieving a thorough and specific insight of the Global Carotenoids Market. The report does a regional analysis of the key zones of the world, starting from the US, North America, Latin America, Middle East & Africa, and Asia. Modes of researchThe research being done by experienced experts has done a comprehensive analysis of Global Carotenoids Market based on Porterâs Five Force Model, taking the assessment period between 2020-2026 into account. Additionally, a deep SWOT analysis is done to facilitate quick decision making for the associated people in the Global Carotenoids Market.
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Report covers:Comprehensive research methodology of Global Carotenoids Market.This report also includes detailed and extensive market overview with gap analysis, historical analysis & key analyst insights.An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.Analysis of regional regulations and other government policies impacting the Global Carotenoids Market.Insights about market determinants which are stimulating the Global Carotenoids Market.Detailed and extensive market segments with regional distribution of forecasted revenuesExtensive profiles and recent developments of market players