The Carotenoids Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Carotenoids Market?
The market size of carotenoids has seen impressive growth recently. The market expanded from $1.9 billion in 2024 to $2 billion in 2025 with a compounded annual growth rate (CAGR) of 5.1%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Carotenoids Industry?
The forecast for the carotenoids market in 2029 predicts a size of $2.44 billion, increasing at a compound annual growth rate (CAGR) of 5.0%.
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What are the Key Growth Drivers Fueling the Carotenoids Market?
The key drivers in the carotenoids market are:
• Continued growth in functional foods and beverages sector
• Expanding applicability in the pharmaceutical industry
• Rising demand for natural colorants
• Growing popularity of carotenoids in personal care product sector
Global Market Segmentation: Identifying Major Carotenoids Industry Segments
The carotenoids market covered in this report is segmented –
1) By Type: Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, Other Types
2) By Source: Natural, Synthetic
3) By Form: Beadlets, Powder, Liquid, Gel, Other Forms
4) By Application: Feed, Food And beverages, Dietary Supplements, Cosmetics, Pharmaceuticals
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What are the Emerging Trends Shaping the Future of the Carotenoids Market?
The key trends in the carotenoids market are:
• Technological advancements in extraction methods are emerging as a significant trend.
• There is an expanding market in developing regions.
• Fortified and functional foods are witnessing increasing demand.
• The increased awareness of health benefits is driving the demand for natural carotenoids.
Who Are the Top Competitors & Leading Players in the Carotenoids Market?
Major companies in the carotenoids market are:
• BASF SE
• F. Hoffmann-La Roche AG
• Novo Nordisk
• Koninklijke DSM N.V.
• Givaudan
• FMC Corporation
• Sun Pharmaceutical Industries Ltd.
• Dohler Group
• Cipla Limited
• Chr. Hansen Holding A/S
• Brenntag North America Inc.
• Zhejiang Medicine Co. Ltd.
• Divis Laboratories Ltd.
• Zhejiang NHU Co. Ltd.
• Kemin Industries Inc.
• Naturex SA
• E.I.D. Parry Limited
• Novus International Inc.
• LycoRed Corp.
• Beijing Gingko Group
• Cyanotech Corporation
• ExcelVite Sdn. Bhd.
• Fuji Chemical Industry Co Ltd.
• Allied Biotech Corporation
• Sensient Colors LLC
• Vinayak Ingredients India Pvt. Ltd.
• Bio Extracts Ltd.
• Algatechnologies Ltd.
• Valensa International LLC
• Nutralliance Inc.
Regional Dominance: Which Area Leads the Global Carotenoids Market?
Europe was the largest region in the carotenoids market in 2024
