カロテノイド市場 : 2029年までの世界予測

Carotenoids Market - Global Forecast to 2029

カロテノイド市場 : タイプ (アスタキサンチン、ベータカロチン、ルテイン、リコピン、カンタキサンチン、ゼアキサンチン)、製剤 (油懸濁液、粉末、ビーズレット、エマルジョン)、供給源 (天然&合成)、用途&地域別 - 2029年までの世界予測
Carotenoids Market by Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin), Formulations (Oil Suspension, Powder, Beadlet, and Emulsion), Source (Natural And Synthetic), Application and Region - Global Forecast to 2029
出版MarketsandMarkets
出版年月2024年5月
ページ数324
図表数485
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The global market for Carotenoids is estimated at USD 2.5 billion in 2024 and is projected to reach USD 3.4 billion by 2029, at a CAGR of 6.3% during the forecast period.

カロテノイドの世界市場は、2024 年に 25 億米ドルと推定され、予測期間中に 6.3% の CAGR で、2029 年までに 34 億米ドルに達すると予測されています。

Shifting consumer preferences towards organic and sustainably produced food products are further fueling the demand for carotenoids. People utilize various types of carotenoids for their diverse array of health benefits and functional properties. Some carotenoids, like β-carotene, are valued for their role as precursors to vitamin A, essential for vision and immune function. Others, such as lutein and zeaxanthin, are prized for their antioxidant properties, which help protect cells from damage caused by free radicals. Additionally, astaxanthin is sought after for its potential anti-inflammatory, skin-protective effects and feed use. Overall, the combination of increasing demand, growth of feed industry, changing consumer preferences, and supportive government policies is driving the growth of the carotenoids market, with promising prospects for further expansion in the future.

カロテノイド市場 : 2029年までの世界予測

“Strong demand for carotenoids in dietary supplements.”
Carotenoids play a pivotal role in dietary supplements, offering a multitude of health benefits and contributing to overall well-being. As potent antioxidants, carotenoids such as beta-carotene, lutein, and lycopene help neutralize harmful free radicals, reducing the risk of chronic diseases like cancer and heart disease. Additionally, carotenoids like astaxanthin and zeaxanthin support eye health, protecting against age-related macular degeneration and improving visual acuity. The increasing awareness of preventive healthcare and the pursuit of healthy lifestyles have fueled the demand for dietary supplements globally. As people seek convenient ways to bolster their nutritional intake, the use of carotenoids in dietary supplements continues to rise, offering consumers a convenient and effective means to support their health and well-being.

“Astaxanthin is dominating in the Carotenoids market within the type segment. “
The astaxanthin market is experiencing robust growth due to its versatile applications and associated health benefits. As a potent antioxidant, astaxanthin finds extensive use in dietary supplements, cosmetics, and animal feed industries. Its ability to combat oxidative stress and inflammation, support cardiovascular health, and enhance skin appearance drives its popularity among consumers. Moreover, the rising demand for natural alternatives to synthetic additives in food and cosmetics further propels market expansion. Additionally, the increasing adoption of astaxanthin in aquaculture to improve the pigmentation and health of farmed fish contributes significantly to market growth, fueling its upward trajectory.

“Within the formulation segment of Carotenoids market, beadlet has highest market share during the forecast period.”
In the formulation segment of the Carotenoids market, the beadlet form is anticipated to witness continuous growth throughout the forecast period. This trend can be attributed to several factors driving the preference for beadlet over other forms of formulations. Beadlets represent the predominant formulation for delivering carotenoids, characterized by spherical granules ranging from 500 to 2000 µm in size, featuring uniform distribution. Their multi particulate nature offers notable technological advantages over conventional solid dosage forms. Produced through spray drying or starch catching drying methods, beadlet formulations exhibit facile solubility in cold water, rendering them particularly suitable for incorporation into food and beverage products and dietary supplements. With proper storage and packaging, carotenoid beadlets maintain a shelf life of approximately two years. This technology enables the incorporation of delicate ingredients into supplements, shielding them from the formulation stress associated with tablet compression, while also enhancing stability and shelf life.

“The Carotenoids market in Asia Pacific is anticipated to maintain highest CAGR throughout the forecast period.”
The anticipated consistent growth of the Carotenoids market in Asia Pacific can be attributed to several factors. The economic expansion across the Asia Pacific region has spurred urbanization and industrialization, leading to varying levels of carotenoid consumption in different countries. Research indicates that the feed industry represents the largest consumer of carotenoids, followed by health supplements. Factors driving this trend include consumer preferences for healthy foods and the escalating demand for meat and seafood. China emerges as the primary consumer of carotenoids in the region, trailed by Japan and India. The burgeoning pharmaceutical sector in countries like China, India, and Japan further propels the carotenoid market. Increasing meat production, particularly in China and India, is fueling demand for carotenoids to enhance feed quality and improve livestock health. These compounds not only boost the nutritional value of feed but also contribute to cost reduction and meat quality enhancement. Carotenoids play a crucial role in fortifying animal diets, thereby meeting the escalating demand for pork and poultry products in the region. This combination of factors is likely to sustain the growth trajectory of the Carotenoids market in Asia Pacific over the forecast period.

The Break-up of Primaries:
By Value Chain Side: Demand Side – 41% and Supply Side – 59%
By Designation: CXOs – 31%, Managers – 24%, Executives – 45%
By Region: North America – 25%, Europe – 25%, APAC – 25%, South America – 15%, and Middle East and Africa – 10%

Key players in this market include DSM (Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Givaudan (Switzerland), ADM (US), NHU (China), Divi’s Laboratories Limited (India), Allied Biotech Corporation (Taiwan), Lycored (US), Kemin Industries, Inc. (US), Fuji Chemical Industries Co., Ltd. (Japan), EW Nutrition (Germany), Döhler GmbH (Germany), ExcelVite (Malaysia) and Farbest Brands (US).

Research Coverage:
The report segments the carotenoids market based on type, formulation, application, source, and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the carotenoids market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services, key strategies, contracts, partnerships, and agreements. New product launches, mergers and acquisitions, and recent developments associated with the carotenoids market. Competitive analysis of upcoming startups in the Carotenoids market ecosystem is covered in this report.

Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall carotenoids market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers (carotenoids are beneficial in preventive healthcare, increasing use of natural carotenoids as food colorants, the growth of the end-user industries is projected to drive the demand for carotenoids, innovative technologies for the extraction of carotenoids, & increase in consumer preference for organic products), restraints (Stringent regulatory norms are projected to hamper the market growth & Risks associated with high doses of carotenoids) opportunities (opportunity to expand in the high-growth potential markets such as developing countries from Asia Pacific and South America region, expanding scope of research within the feed industry & safety reassessment of synthetic food colors), and challenges (difficulty in meeting the requisite quality standards & high production costs restrict the entry of smaller players).
• Product Development/Innovation: Detailed insights on research & development activities and new product launches in the carotenoids market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the carotenoids market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the carotenoids market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like DSM (Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Givaudan (Switzerland), ADM (US), NHU (China), Divi’s Laboratories Limited (India), Allied Biotech Corporation (Taiwan), Lycored (US), Kemin Industries, Inc. (US), Fuji Chemical Industries Co., Ltd. (Japan), EW Nutrition (Germany), Döhler GmbH (Germany), ExcelVite (Malaysia), Farbest Brands (US), Solabia Group (France), VIDYA EUROPE SAS (France), AROMATAGROUP SRL CON SOCIO UNICO (Italy), Valensa International (US), BGG World (China), Kalsec Inc. (US), Ambe Phytoextracts Pvt. Ltd. (India), Vidya Herbs Pvt. Ltd. (India), ASTAMAZ NZ LTD. (New Zealand), Xiamen Sinoway Co., Ltd. (China).

Table of Contents

1            INTRODUCTION            43

1.1         STUDY OBJECTIVES      43

1.2         MARKET DEFINITION   43

1.3         STUDY SCOPE  44

1.3.1      MARKETS COVERED     44

FIGURE 1           CAROTENOIDS MARKET SEGMENTATION         44

1.3.2      REGIONS COVERED      44

1.3.3      YEARS CONSIDERED     45

1.4         CURRENCY CONSIDERED          45

TABLE 1             USD EXCHANGE RATES, 2020–2023         46

1.5         UNIT CONSIDERED       46

1.6         STAKEHOLDERS            46

1.7         SUMMARY OF CHANGES            47

2            RESEARCH METHODOLOGY     48

2.1         RESEARCH DATA           48

FIGURE 2           CAROTENOIDS MARKET: RESEARCH DESIGN    48

2.1.1      SECONDARY DATA       49

2.1.1.1   Key data from secondary sources     49

2.1.2      PRIMARY DATA 50

FIGURE 3           KEY DATA FROM PRIMARY SOURCES    50

2.1.2.1   Key industry insights          51

FIGURE 4           BREAKDOWN OF PRIMARY INTERVIEWS            51

2.2         MARKET SIZE ESTIMATION       52

2.2.1      BOTTOM-UP APPROACH           52

FIGURE 5           DEMAND-SIDE ANALYSIS           53

2.2.2      TOP-DOWN APPROACH             53

2.2.2.1   Approach to estimate market size using top-down analysis         53

FIGURE 6           MARKET SIZE ESTIMATION STEPS         54

FIGURE 7           SUPPLY-SIDE ANALYSIS             54

2.3         DATA TRIANGULATION             55

FIGURE 8           DATA TRIANGULATION             55

2.4         RESEARCH ASSUMPTIONS         56

2.5         RESEARCH LIMITATIONS           56

2.6         RECESSION IMPACT      57

2.6.1      MACRO INDICATORS    58

FIGURE 9           RECESSION INDICATORS           58

FIGURE 10         GLOBAL INFLATION RATE, 2011–2022   59

FIGURE 11         GLOBAL GDP, 2011–2022 (USD TRILLION)          60

FIGURE 12         RECESSION INDICATORS AND THEIR IMPACT ON MARKET              61

3            EXECUTIVE SUMMARY 62

TABLE 2             CAROTENOIDS MARKET SNAPSHOT, 2024 VS. 2029         62

FIGURE 13         ASTAXANTHIN SEGMENT TO LEAD MARKET DURING FORECAST PERIOD       63

FIGURE 14         BEADLET SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD       64

FIGURE 15         SYNTHETIC SEGMENT TO HAVE LARGEST MARKET SHARE DURING FORECAST PERIOD     64

FIGURE 16         ANIMAL FEED SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD     65

FIGURE 17         NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD      66

FIGURE 18         CAROTENOIDS MARKET: EARLIER FORECAST VS. RECESSION FORECAST        67

4            PREMIUM INSIGHTS      68

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CAROTENOIDS MARKET            68

FIGURE 19         INCREASING AWARENESS TOWARD HEALTH AND ORGANIC FOOD PRODUCTS TO DRIVE MARKET  68

4.2         EUROPE: CAROTENOIDS MARKET, BY TYPE AND COUNTRY      69

FIGURE 20         LUTEIN SEGMENT AND FRANCE TO ACCOUNT FOR LARGEST SHARES IN EUROPEAN MARKET IN 2024              69

4.3         CAROTENOIDS MARKET, BY COUNTRY 70

FIGURE 21         US TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024              70

4.4         CAROTENOIDS MARKET, BY TYPE AND REGION             71

FIGURE 22         ASTAXANTHIN TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD       71

4.5         CAROTENOIDS MARKET, BY FORMULATION AND REGION        72

FIGURE 23         BEADLET SEGMENT TO LEAD MARKET DURING FORECAST PERIOD              72

4.6         CAROTENOIDS MARKET, BY SOURCE AND REGION       73

FIGURE 24         SYNTHETIC SOURCE TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD      73

4.7         CAROTENOIDS MARKET, BY APPLICATION AND REGION           74

FIGURE 25         ANIMAL FEED SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD       74

5            MARKET OVERVIEW     75

5.1         INTRODUCTION            75

5.2         MACROECONOMIC INDICATORS           75

5.2.1      GLOBAL HEALTH AND WELLNESS MARKET      75

FIGURE 26         GLOBAL WELLNESS INDUSTRY, BY TYPE, 2022  76

5.3         MARKET DYNAMICS     77

FIGURE 27         CAROTENOIDS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    77

5.3.1      DRIVERS            77

5.3.1.1   Increasing applications of carotenoids in preventive healthcare  77

TABLE 3             SOURCES OF CAROTENOIDS AND THEIR MEDICINAL PROPERTIES     79

5.3.1.2   Growing trend toward natural and clean label ingredients          79

FIGURE 28         US: FACTORS DRIVING CLEAN LABEL PURCHASES, 2021              80

5.3.1.3   Surge in applications in pharmaceuticals and cosmetics              80

5.3.1.4   Rise in innovative technologies for extracting carotenoids          81

5.3.1.5   Increasing consumer preference for organic products   82

FIGURE 29         ORGANIC FOOD & BEVERAGES MARKET, 2021 (USD BILLION)              82

5.3.2      RESTRAINTS     83

5.3.2.1   Low water solubility and stability     83

5.3.2.2   Risks associated with high dosage    83

5.3.3      OPPORTUNITIES           83

5.3.3.1   Booming dietary supplements and food & beverages markets     83

5.3.3.2   Expanding scope of research in feed industry 84

5.3.3.3   Growing inclination toward safety reassessment of synthetic food colors  84

5.3.4      CHALLENGES   85

5.3.4.1   Stringent quality standards 85

5.3.4.2   High production costs        85

6            INDUSTRY TRENDS       86

6.1         INTRODUCTION            86

6.2         VALUE CHAIN ANALYSIS            86

FIGURE 30         VALUE CHAIN ANALYSIS            87

6.3         TRADE ANALYSIS          87

TABLE 4             EUROPEAN UNION: IMPORT AND EXPORT VOLUME OF COLORING MATTER OF VEGETABLE OR ANIMAL ORIGIN, 2023 (KG)     88

TABLE 5             EUROPEAN UNION: IMPORT AND EXPORT VOLUME OF COLORING MATTER OF VEGETABLE OR ANIMAL ORIGIN, 2022 (KG)     88

TABLE 6             EUROPEAN UNION: IMPORT AND EXPORT VOLUME OF COLORING MATTER OF VEGETABLE OR ANIMAL ORIGIN, 2021 (KG)     89

6.4         TECHNOLOGY ANALYSIS           89

6.4.1      CAROTENOIDS AND MICROENCAPSULATION  89

6.4.2      ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING 90

6.5         PRICING ANALYSIS        90

6.5.1      AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE     91

FIGURE 31         AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE, 2023 (USD/TONS)          91

TABLE 7             AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE, 2023 (USD/TONS)          91

6.5.2      AVERAGE SELLING PRICE TREND, BY REGION  92

FIGURE 32         AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD/TONS)     92

TABLE 8             AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD/TONS)     92

6.5.3      AVERAGE SELLING PRICE TREND, BY TYPE       92

FIGURE 33         AVERAGE SELLING PRICE TREND, BY TYPE, 2020–2023 (USD/TONS)     92

TABLE 9             AVERAGE SELLING PRICE TREND, BY TYPE, 2020–2023 (USD/TONS)     93

6.6         ECOSYSTEM ANALYSIS 93

FIGURE 34         ECOSYSTEM ANALYSIS 93

TABLE 10           ROLE OF COMPANIES IN ECOSYSTEM   94

6.6.1      UPSTREAM       95

6.6.1.1   Ingredient manufacturers  95

6.6.1.2   Technology providers        95

6.6.1.3   End users             95

6.6.2      DOWNSTREAM 95

6.6.2.1   Regulatory bodies 95

6.6.2.2   Startups/emerging companies         96

6.7         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS       96

FIGURE 35         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS              96

6.8         PATENT ANALYSIS        97

FIGURE 36         PATENT ANALYSIS        97

FIGURE 37         JURISDICTIONS WITH HIGHEST PATENT APPROVALS FOR CAROTENOIDS, 2013–2023         98

TABLE 11           INNOVATIONS AND PATENT REGISTRATIONS, 2023–2024              98

6.9         KEY CONFERENCES AND EVENTS          100

TABLE 12           KEY CONFERENCES AND EVENTS, 2024–2025     100

6.10       PORTER’S FIVE FORCES ANALYSIS         100

TABLE 13           IMPACT OF PORTER’S FIVE FORCES      100

FIGURE 38         CAROTENOIDS MARKET: PORTER’S FIVE FORCES ANALYSIS              101

6.10.1    INTENSITY OF COMPETITIVE RIVALRY 101

6.10.2    BARGAINING POWER OF SUPPLIERS     101

6.10.3    BARGAINING POWER OF BUYERS           102

6.10.4    THREAT OF NEW ENTRANTS    102

6.10.5    THREAT OF SUBSTITUTES         102

6.11       REGULATORY LANDSCAPE       103

6.11.1    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          103

TABLE 14           NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         103

TABLE 15           EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 103

TABLE 16           ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         104

TABLE 17           SOUTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         104

TABLE 18           REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         105

6.11.2    NORTH AMERICA          105

6.11.2.1 US         105

6.11.2.2 Canada  106

6.11.2.3 Mexico  107

6.11.3    EUROPEAN UNION        107

6.11.4    ASIA PACIFIC    108

6.11.4.1 China     108

6.11.4.2 India      109

6.11.5    SOUTH AMERICA           110

6.11.5.1 Brazil     110

6.11.6    REST OF THE WORLD   110

6.11.6.1 South Africa        110

6.12       KEY STAKEHOLDERS AND BUYING CRITERIA    110

6.12.1    KEY STAKEHOLDERS IN BUYING PROCESS         110

TABLE 19           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS (%)          111

6.12.2    BUYING CRITERIA         112

FIGURE 40         KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS         112

TABLE 20           KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS         112

6.13       CASE STUDY ANALYSIS 113

6.13.1    USE OF ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING TO MEET DEMAND FOR FUNCTIONAL FOODS        113

6.13.2    MANUFACTURING OF PLANT-BASED BARS FOR IMPROVED MENTAL HEALTH            113

6.13.3    INVESTIGATING EFFICACY OF LYCODERM TO ENHANCING SKIN RESILIENCE      114

6.14       INVESTMENT AND FUNDING SCENARIO            114

FIGURE 41         INVESTMENT AND FUNDING SCENARIO, 2019–2024 (USD MILLION)          114

7            CAROTENOIDS MARKET, BY TYPE         115

7.1         INTRODUCTION            116

FIGURE 42         CAROTENOIDS MARKET, BY TYPE, 2024 VS. 2029 (USD MILLION)          116

TABLE 21           CAROTENOIDS MARKET, BY TYPE, 2020–2023 (USD MILLION)              117

TABLE 22           CAROTENOIDS MARKET, BY TYPE, 2024–2029 (USD MILLION)              117

TABLE 23           CAROTENOIDS MARKET, BY TYPE, 2020–2023 (TONS)    117

TABLE 24           CAROTENOIDS MARKET, BY TYPE, 2024–2029 (TONS)    118

7.2         BETA-CAROTENE          118

7.2.1      INCREASING USE AS NATURAL COLORANT TO DRIVE MARKET 118

TABLE 25           BETA-CAROTENE: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)     119

TABLE 26           BETA-CAROTENE: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)     119

TABLE 27           BETA-CAROTENE: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)      119

TABLE 28           BETA-CAROTENE: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)      120

7.3         ASTAXANTHIN 120

7.3.1      GROWING ADOPTION IN FEED, DIETARY SUPPLEMENTS, AND COSMETIC INDUSTRIES TO DRIVE MARKET      120

TABLE 29           ASTAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)     121

TABLE 30           ASTAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)     121

TABLE 31           ASTAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)      121

TABLE 32           ASTAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)      122

7.4         LUTEIN 122

7.4.1      RISING ACCEPTABILITY IN TREATING EYE DISEASES TO DRIVE MARKET            122

TABLE 33           LUTEIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)          122

TABLE 34           LUTEIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)          123

TABLE 35           LUTEIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 123

TABLE 36           LUTEIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 123

7.5         LYCOPENE        124

7.5.1      INCREASING AWARENESS ABOUT ANTIOXIDANT HEALTH BENEFITS TO DRIVE MARKET       124

TABLE 37           LYCOPENE: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 124

TABLE 38           LYCOPENE: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 125

TABLE 39           LYCOPENE: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 125

TABLE 40           LYCOPENE: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 125

7.6         ZEAXANTHIN   126

7.6.1      GROWING DEMAND IN POULTRY FEED TO DRIVE MARKET      126

TABLE 41           ZEAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 126

TABLE 42           ZEAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 127

TABLE 43           ZEAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 127

TABLE 44           ZEAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 127

7.7         CANTHAXANTHIN         128

7.7.1      SURGE IN LIVESTOCK POPULATION TO DRIVE MARKET            128

TABLE 45           CANTHAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)     128

TABLE 46           CANTHAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)     129

TABLE 47           CANTHAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)      129

TABLE 48           CANTHAXANTHIN: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)      129

7.8         OTHER TYPES  130

TABLE 49           OTHER TYPES: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 130

TABLE 50           OTHER TYPES: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 130

TABLE 51           OTHER TYPES: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 131

TABLE 52           OTHER TYPES: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 131

8            CAROTENOIDS MARKET, BY APPLICATION       132

8.1         INTRODUCTION            133

FIGURE 43         CAROTENOIDS MARKET, BY APPLICATION, 2024 VS. 2029 (USD MILLION)          133

TABLE 53           CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          134

TABLE 54           CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          134

TABLE 55           CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)              134

TABLE 56           CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)              135

8.2         ANIMAL FEED  135

8.2.1      GROWING ADOPTION DUE TO DISEASE RESISTANCE AND COLOR-ENHANCING PROPERTIES TO DRIVE MARKET  135

TABLE 57           ANIMAL FEED: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 136

TABLE 58           ANIMAL FEED: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 136

TABLE 59           ANIMAL FEED: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 136

TABLE 60           ANIMAL FEED: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 137

8.3         DIETARY SUPPLEMENTS            137

8.3.1      RISING AWARENESS AMONG CONSUMERS FOR NATURAL HEALTH SUPPLEMENTS TO DRIVE MARKET        137

TABLE 61          DIETARY SUPPLEMENTS: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)          137

TABLE 62          DIETARY SUPPLEMENTS: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)          138

TABLE 63          DIETARY SUPPLEMENTS: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)          138

TABLE 64          DIETARY SUPPLEMENTS: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)          138

8.4         FOOD & BEVERAGES     139

8.4.1      SURGE IN DEMAND FOR NATURAL FOOD COLORANTS WITH ANTIOXIDANT AND ANTICARCINOGENIC PROPERTIES TO DRIVE MARKET              139

TABLE 65           FOOD & BEVERAGES: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)          139

TABLE 66           FOOD & BEVERAGES: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)          140

TABLE 67           FOOD & BEVERAGES: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)          140

TABLE 68           FOOD & BEVERAGES: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)          140

8.5         COSMETICS      141

8.5.1      INCREASING DEMAND DUE TO ANTI-AGING AND ANTI-INFLAMMATORY PROPERTIES TO DRIVE MARKET         141

TABLE 69           COSMETICS: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 141

TABLE 70           COSMETICS: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 142

TABLE 71           COSMETICS: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 142

TABLE 72           COSMETICS: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 142

8.6         PHARMACEUTICALS     143

8.6.1      GROWING POPULARITY OF CAROTENOIDS TO BOOST IMMUNITY TO DRIVE MARKET 143

TABLE 73           PHARMACEUTICALS: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)          143

TABLE 74           PHARMACEUTICALS: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)          144

TABLE 75           PHARMACEUTICALS: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)          144

TABLE 76           PHARMACEUTICALS: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)          144

9            CAROTENOIDS MARKET, BY FORMULATION    145

9.1         INTRODUCTION            146

FIGURE 44         CAROTENOIDS MARKET, BY FORMULATION, 2024 VS. 2029 (USD MILLION) 147

TABLE 77           CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (USD MILLION)          147

TABLE 78           CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (USD MILLION)          148

TABLE 79           CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (TONS) 148

TABLE 80           CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (TONS) 148

9.2         BEADLET          149

9.2.1      NEED FOR INCREASED STABILITY OF CAROTENOID PRODUCTS TO DRIVE MARKET 149

TABLE 81           BEADLET: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 149

TABLE 82           BEADLET: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 150

TABLE 83           BEADLET: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 150

TABLE 84           BEADLET: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 150

9.3         POWDER           151

9.3.1      INCREASING DEMAND FOR CAROTENOIDS WITH HIGH THERMAL STABILITY AND SHELF LIFE TO DRIVE MARKET             151

TABLE 85           POWDER: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 151

TABLE 86           POWDER: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 151

TABLE 87           POWDER: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 152

TABLE 88           POWDER: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 152

9.4         OIL SUSPENSION           152

9.4.1      GROWING DEMAND FOR AFFORDABLE CAROTENOIDS TO DRIVE MARKET            152

TABLE 89           OIL SUSPENSION: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)     153

TABLE 90           OIL SUSPENSION: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)     153

TABLE 91           OIL SUSPENSION: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)      154

TABLE 92           OIL SUSPENSION: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)      154

9.5         EMULSION        154

9.5.1      RISING ADOPTION IN PROCESSING AND STORAGE OF Β-CAROTENE TO DRIVE MARKET       154

TABLE 93           EMULSION: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 155

TABLE 94           EMULSION: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 155

TABLE 95           EMULSION: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 155

TABLE 96           EMULSION: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 156

10          CAROTENOIDS MARKET, BY SOURCE    157

10.1       INTRODUCTION            158

FIGURE 45         CAROTENOIDS MARKET, BY SOURCE, 2024 VS. 2029 (USD MILLION)          158

TABLE 97           CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (USD MILLION)          159

TABLE 98           CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (USD MILLION)          159

TABLE 99           CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (TONS)              159

TABLE 100         CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (TONS)              159

10.2       SYNTHETIC      160

10.2.1    LOWER MANUFACTURING COST TO DRIVE MARKET    160

TABLE 101         SYNTHETIC: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 160

TABLE 102         SYNTHETIC: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 161

TABLE 103         SYNTHETIC: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 161

TABLE 104         SYNTHETIC: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 161

10.3       NATURAL          162

10.3.1    INCREASING FOCUS ON IMPROVED IMMUNITY RATES IN HUMANS AND ANIMALS TO DRIVE MARKET         162

TABLE 105         NATURAL: CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION) 162

TABLE 106         NATURAL: CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION) 163

TABLE 107         NATURAL: CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS) 163

TABLE 108         NATURAL: CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS) 163

11          CAROTENOIDS MARKET, BY REGION    164

11.1       INTRODUCTION            165

FIGURE 46         CAROTENOIDS MARKET, BY COUNTRY, 2024–2029         165

TABLE 109         CAROTENOIDS MARKET, BY REGION, 2020–2023 (USD MILLION)          166

TABLE 110         CAROTENOIDS MARKET, BY REGION, 2024–2029 (USD MILLION)          166

TABLE 111         CAROTENOIDS MARKET, BY REGION, 2020–2023 (TONS)              166

TABLE 112         CAROTENOIDS MARKET, BY REGION, 2024–2029 (TONS)              167

11.2       NORTH AMERICA          167

11.2.1    RECESSION IMPACT ANALYSIS 167

FIGURE 47         NORTH AMERICA: INFLATION RATES, BY KEY COUNTRY, 2018–2022      168

FIGURE 48         NORTH AMERICA: RECESSION IMPACT ANALYSIS, 2023 169

TABLE 113         NORTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)          169

TABLE 114         NORTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)          169

TABLE 115         NORTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (TONS)          169

TABLE 116         NORTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (TONS)          170

TABLE 117         NORTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (USD MILLION)     170

TABLE 118         NORTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (USD MILLION)     170

TABLE 119         NORTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (TONS)      171

TABLE 120         NORTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (TONS)      171

TABLE 121         NORTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          171

TABLE 122         NORTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          172

TABLE 123         NORTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          172

TABLE 124         NORTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          172

TABLE 125         NORTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (USD MILLION)        173

TABLE 126         NORTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (USD MILLION)        173

TABLE 127         NORTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (TONS)        173

TABLE 128         NORTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (TONS)        174

TABLE 129         NORTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (USD MILLION)     174

TABLE 130         NORTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (USD MILLION)     174

TABLE 131         NORTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (TONS)      174

TABLE 132         NORTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (TONS)      175

11.2.2    US         175

11.2.2.1 Rising focus on mitigating risks associated with cancer and cardiovascular disorders to drive market   175

TABLE 133         US: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          176

TABLE 134         US: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          176

TABLE 135         US: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 176

TABLE 136         US: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 177

11.2.3    CANADA            177

11.2.3.1 Growing livestock of dairy and poultry animals to drive market  177

TABLE 137         CANADA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     178

TABLE 138         CANADA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     178

TABLE 139         CANADA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      178

TABLE 140         CANADA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      179

11.2.4    MEXICO             179

11.2.4.1 Increasing use of carotenoids in feed industry to drive market    179

TABLE 141         MEXICO: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 180

TABLE 142         MEXICO: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 180

TABLE 143         MEXICO: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 180

TABLE 144         MEXICO: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 181

11.3       EUROPE             181

FIGURE 49         EUROPE: CAROTENOIDS MARKET SNAPSHOT  182

11.3.1    RECESSION IMPACT ANALYSIS 182

FIGURE 50         EUROPE: INFLATION RATES, BY KEY COUNTRY, 2018–2022              183

FIGURE 51         EUROPE: RECESSION IMPACT ANALYSIS, 2023   183

TABLE 145         EUROPE: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 184

TABLE 146         EUROPE: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 184

TABLE 147         EUROPE: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (TONS) 184

TABLE 148         EUROPE: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (TONS) 185

TABLE 149         EUROPE: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (USD MILLION)          185

TABLE 150         EUROPE: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (USD MILLION)          185

TABLE 151         EUROPE: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (TONS)              186

TABLE 152         EUROPE: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (TONS)              186

TABLE 153         EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     186

TABLE 154         EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     187

TABLE 155         EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      187

TABLE 156         EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      187

TABLE 157         EUROPE: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (USD MILLION)     188

TABLE 158         EUROPE: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (USD MILLION)     188

TABLE 159         EUROPE: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (TONS)      188

TABLE 160         EUROPE: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (TONS)      188

TABLE 161         EUROPE: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (USD MILLION)          189

TABLE 162         EUROPE: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (USD MILLION)          189

TABLE 163         EUROPE: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (TONS) 189

TABLE 164         EUROPE: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (TONS) 189

11.3.2    FRANCE             190

11.3.2.1 Booming dietary supplements industry to drive market 190

TABLE 165         FRANCE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 190

TABLE 166         FRANCE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 190

TABLE 167         FRANCE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 191

TABLE 168         FRANCE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 191

11.3.3    GERMANY         191

11.3.3.1 Growing concerns regarding food safety to drive market            191

TABLE 169         GERMANY: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     192

TABLE 170         GERMANY: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     192

TABLE 171         GERMANY: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      192

TABLE 172         GERMANY: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      193

11.3.4    NETHERLANDS 193

11.3.4.1 Growing incidences of cancer cases to drive market     193

TABLE 173         NETHERLANDS: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          193

TABLE 174         NETHERLANDS: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          194

TABLE 175         NETHERLANDS: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          194

TABLE 176         NETHERLANDS: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          194

11.3.5    RUSSIA 195

11.3.5.1 Increasing demand for antioxidant-rich foods to drive market    195

TABLE 177         RUSSIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 195

TABLE 178         RUSSIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 195

TABLE 179         RUSSIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 196

TABLE 180         RUSSIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 196

11.3.6    SPAIN   196

11.3.6.1 Surge in consumer demand for natural color alternatives over artificial additives to drive market    196

TABLE 181         SPAIN: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 197

TABLE 182         SPAIN: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 197

TABLE 183         SPAIN: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 197

TABLE 184         SPAIN: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 198

11.3.7    ITALY   198

11.3.7.1 Increasing utilization of carotenoids in skincare and cosmetics to drive market              198

TABLE 185         ITALY: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 198

TABLE 186         ITALY: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 199

TABLE 187         ITALY: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 199

TABLE 188         ITALY: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 199

11.3.8    REST OF EUROPE           200

TABLE 189         REST OF EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          200

TABLE 190         REST OF EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          200

TABLE 191         REST OF EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          201

TABLE 192         REST OF EUROPE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          201

11.4       ASIA PACIFIC    201

FIGURE 52         ASIA PACIFIC: CAROTENOIDS MARKET SNAPSHOT       202

11.4.1    RECESSION IMPACT ANALYSIS 202

FIGURE 53         ASIA PACIFIC: INFLATION RATES, BY KEY COUNTRY, 2018–2022              203

FIGURE 54         ASIA PACIFIC: RECESSION IMPACT ANALYSIS, 2023        203

TABLE 193         ASIA PACIFIC: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     204

TABLE 194         ASIA PACIFIC: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     204

TABLE 195         ASIA PACIFIC: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (TONS)      205

TABLE 196         ASIA PACIFIC: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (TONS)      205

TABLE 197         ASIA PACIFIC: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (USD MILLION) 205

TABLE 198         ASIA PACIFIC: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (USD MILLION) 206

TABLE 199         ASIA PACIFIC: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (TONS) 206

TABLE 200         ASIA PACIFIC: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (TONS) 206

TABLE 201         ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          207

TABLE 202         ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          207

TABLE 203         ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          207

TABLE 204         ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          208

TABLE 205         ASIA PACIFIC: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (USD MILLION)          208

TABLE 206         ASIA PACIFIC: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (USD MILLION)          208

TABLE 207         ASIA PACIFIC: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (TONS)          208

TABLE 208         ASIA PACIFIC: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (TONS)          209

TABLE 209         ASIA PACIFIC: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (USD MILLION) 209

TABLE 210         ASIA PACIFIC: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (USD MILLION) 209

TABLE 211         ASIA PACIFIC: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (TONS) 209

TABLE 212         ASIA PACIFIC: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (TONS) 210

11.4.2    CHINA  210

11.4.2.1 Growing production of carotenoid-rich products to drive market             210

TABLE 213         CHINA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 210

TABLE 214         CHINA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 211

TABLE 215         CHINA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 211

TABLE 216         CHINA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 211

11.4.3    INDIA   212

11.4.3.1 Rising health awareness and egg production to drive market      212

TABLE 217         INDIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 212

TABLE 218         INDIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 212

TABLE 219         INDIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 213

TABLE 220         INDIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 213

11.4.4    THAILAND        213

11.4.4.1 Growing super-aged population to drive market           213

TABLE 221         THAILAND: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     214

TABLE 222         THAILAND: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     214

TABLE 223         THAILAND: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      214

TABLE 224         THAILAND: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      215

11.4.5    JAPAN  215

11.4.5.1 Increasing demand for processed food & beverages to drive market          215

TABLE 225         JAPAN: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 215

TABLE 226         JAPAN: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 216

TABLE 227         JAPAN: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 216

TABLE 228         JAPAN: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 216

11.4.6    MALAYSIA         217

11.4.6.1 Surge in meat consumption to drive market   217

TABLE 229         MALAYSIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     217

TABLE 230         MALAYSIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     217

TABLE 231         MALAYSIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      218

TABLE 232         MALAYSIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      218

11.4.7    INDONESIA       218

11.4.7.1 Booming fisheries industry to drive market    218

TABLE 233         INDONESIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     219

TABLE 234         INDONESIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     219

TABLE 235         INDONESIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      219

TABLE 236         INDONESIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      220

11.4.8    AUSTRALIA & NEW ZEALAND   220

11.4.8.1 Increasing inclination toward vitamin supplements and herbal remedies to drive market   220

TABLE 237         AUSTRALIA & NEW ZEALAND: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)           220

TABLE 238         AUSTRALIA & NEW ZEALAND: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)           221

TABLE 239         AUSTRALIA & NEW ZEALAND: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)           221

TABLE 240         AUSTRALIA & NEW ZEALAND: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)           221

11.4.9    REST OF ASIA PACIFIC  222

TABLE 241         REST OF ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)           222

TABLE 242         REST OF ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)           222

TABLE 243         REST OF ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)           223

TABLE 244         REST OF ASIA PACIFIC: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)           223

11.5       SOUTH AMERICA           223

11.5.1    RECESSION IMPACT ANALYSIS 224

FIGURE 55         BRAZIL: INFLATION RATES, 2018–2022   224

FIGURE 56         SOUTH AMERICA: RECESSION IMPACT ANALYSIS          225

TABLE 245         SOUTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)          225

TABLE 246         SOUTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)          225

TABLE 247         SOUTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (TONS)          225

TABLE 248         SOUTH AMERICA: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (TONS)          226

TABLE 249         SOUTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (USD MILLION)     226

TABLE 250         SOUTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (USD MILLION)     226

TABLE 251         SOUTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (TONS)      227

TABLE 252         SOUTH AMERICA: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (TONS)      227

TABLE 253         SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          227

TABLE 254         SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          228

TABLE 255         SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          228

TABLE 256         SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          228

TABLE 257        SOUTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (USD MILLION)          229

TABLE 258        SOUTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (USD MILLION)          229

TABLE 259        SOUTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (TONS)          229

TABLE 260        SOUTH AMERICA: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (TONS)          230

TABLE 261         SOUTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (USD MILLION)     230

TABLE 262         SOUTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (USD MILLION)     230

TABLE 263         SOUTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (TONS)      230

TABLE 264         SOUTH AMERICA: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (TONS)      231

11.5.2    BRAZIL 231

11.5.2.1 Surge in aging population to drive market      231

TABLE 265         BRAZIL: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 231

TABLE 266         BRAZIL: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 232

TABLE 267         BRAZIL: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 232

TABLE 268         BRAZIL: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 232

11.5.3    ARGENTINA      233

11.5.3.1 High production of meat to drive market       233

TABLE 269         ARGENTINA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     233

TABLE 270         ARGENTINA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     233

TABLE 271         ARGENTINA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      234

TABLE 272         ARGENTINA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      234

11.5.4    REST OF SOUTH AMERICA         234

TABLE 273         REST OF SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)           234

TABLE 274         REST OF SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)           235

TABLE 275         REST OF SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)           235

TABLE 276         REST OF SOUTH AMERICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)           235

11.6       REST OF THE WORLD   236

11.6.1    RECESSION IMPACT ANALYSIS 236

FIGURE 57         REST OF THE WORLD: INFLATION RATES, BY KEY COUNTRY, 2018–2022          236

FIGURE 58         REST OF THE WORLD: RECESSION IMPACT ANALYSIS, 2023              237

11.6.2    MIDDLE EAST  237

TABLE 277         MIDDLE EAST: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     237

TABLE 278         MIDDLE EAST: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     237

TABLE 279         MIDDLE EAST: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (TONS)      238

TABLE 280         MIDDLE EAST: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (TONS)      238

TABLE 281         MIDDLE EAST: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (USD MILLION) 238

TABLE 282         MIDDLE EAST: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (USD MILLION) 239

TABLE 283         MIDDLE EAST: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (TONS) 239

TABLE 284         MIDDLE EAST: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (TONS) 239

TABLE 285         MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          240

TABLE 286         MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          240

TABLE 287         MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          240

TABLE 288         MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          241

TABLE 289         MIDDLE EAST: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (USD MILLION)          241

TABLE 290         MIDDLE EAST: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (USD MILLION)          241

TABLE 291         MIDDLE EAST: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (TONS)          241

TABLE 292         MIDDLE EAST: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (TONS)          242

TABLE 293         MIDDLE EAST: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (USD MILLION) 242

TABLE 294         MIDDLE EAST: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (USD MILLION) 242

TABLE 295         MIDDLE EAST: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (TONS) 242

TABLE 296         MIDDLE EAST: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (TONS) 243

11.6.3    SAUDI ARABIA  243

11.6.3.1 Growing focus on domestic food security and sustainability to drive market              243

TABLE 297         SAUDI ARABIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          243

TABLE 298         SAUDI ARABIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          243

TABLE 299         SAUDI ARABIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          244

TABLE 300         SAUDI ARABIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          244

11.6.4    UAE      244

11.6.4.1 Increasing shift toward natural and clean label products to drive market  244

TABLE 301         UAE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 245

TABLE 302         UAE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 245

TABLE 303         UAE: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 245

TABLE 304         UAE: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 246

11.6.5    REST OF MIDDLE EAST 246

TABLE 305         REST OF MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)           246

TABLE 306         REST OF MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)           247

TABLE 307         REST OF MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)           247

TABLE 308         REST OF MIDDLE EAST: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)           247

11.6.6    AFRICA 248

11.6.6.1 Growing availability of affordable carotenoid products to drive market     248

TABLE 309         AFRICA: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 248

TABLE 310         AFRICA: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 248

TABLE 311         AFRICA: CAROTENOIDS MARKET, BY COUNTRY, 2020–2023 (TONS) 248

TABLE 312         AFRICA: CAROTENOIDS MARKET, BY COUNTRY, 2024–2029 (TONS) 249

TABLE 313         AFRICA: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (USD MILLION)          249

TABLE 314         AFRICA: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (USD MILLION)          249

TABLE 315         AFRICA: CAROTENOIDS MARKET, BY TYPE, 2020–2023 (TONS)              250

TABLE 316         AFRICA: CAROTENOIDS MARKET, BY TYPE, 2024–2029 (TONS)              250

TABLE 317         AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 250

TABLE 318         AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 251

TABLE 319         AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS) 251

TABLE 320         AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS) 251

TABLE 321         AFRICA: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (USD MILLION)     252

TABLE 322         AFRICA: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (USD MILLION)     252

TABLE 323         AFRICA: CAROTENOIDS MARKET, BY FORMULATION, 2020–2023 (TONS)      252

TABLE 324         AFRICA: CAROTENOIDS MARKET, BY FORMULATION, 2024–2029 (TONS)      252

TABLE 325         AFRICA: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (USD MILLION)          253

TABLE 326         AFRICA: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (USD MILLION)          253

TABLE 327         AFRICA: CAROTENOIDS MARKET, BY SOURCE, 2020–2023 (TONS) 253

TABLE 328         AFRICA: CAROTENOIDS MARKET, BY SOURCE, 2024–2029 (TONS) 253

11.6.7    SOUTH AFRICA 254

11.6.7.1 Rising focus on improving meat coloration to drive market        254

TABLE 329         SOUTH AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          254

TABLE 330         SOUTH AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          254

TABLE 331         SOUTH AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          255

TABLE 332         SOUTH AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          255

11.6.8    NIGERIA            255

11.6.8.1 Increasing demand for animal protein to drive market  255

TABLE 333         NIGERIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)     256

TABLE 334         NIGERIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)     256

TABLE 335         NIGERIA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)      256

TABLE 336         NIGERIA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)      257

11.6.9    REST OF AFRICA            257

TABLE 337         REST OF AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)          257

TABLE 338         REST OF AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          258

TABLE 339         REST OF AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2020–2023 (TONS)          258

TABLE 340         REST OF AFRICA: CAROTENOIDS MARKET, BY APPLICATION, 2024–2029 (TONS)          258

12          COMPETITIVE LANDSCAPE       259

12.1       OVERVIEW        259

12.2       KEY PLAYER STRATEGIES          260

TABLE 341         KEY PLAYER STRATEGIES          260

12.3       REVENUE ANALYSIS      261

FIGURE 59         REVENUE ANALYSIS OF KEY MARKET PLAYERS, 2020–2023 (USD BILLION)           261

12.4       MARKET SHARE ANALYSIS         262

FIGURE 60         MARKET SHARE ANALYSIS OF KEY COMPANIES IN 2023 262

TABLE 342         DEGREE OF COMPETITION       262

12.5       BRAND/PRODUCT COMPARISON          263

FIGURE 61         BRAND/PRODUCT COMPARISON          263

12.6       COMPANY VALUATION AND FINANCIAL METRICS        264

FIGURE 62         COMPANY VALUATION (USD BILLION) 264

FIGURE 63         EV/EBITDA, 2023 (USD BILLION)            264

FIGURE 64         EBIT/EBITDA, 2023 (USD BILLION)        265

12.7       COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023   265

12.7.1    STARS  265

12.7.2    EMERGING LEADERS    266

12.7.3    PERVASIVE PLAYERS     266

12.7.4    PARTICIPANTS 266

FIGURE 65         CAROTENOIDS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023     267

12.7.5    COMPANY FOOTPRINT 268

FIGURE 66         CAROTENOIDS MARKET: COMPANY FOOTPRINT          268

TABLE 343         CAROTENOIDS MARKET: PRODUCT TYPE FOOTPRINT 269

TABLE 344         CAROTENOIDS MARKET: REGION FOOTPRINT 270

TABLE 345         CAROTENOIDS MARKET: APPLICATION FOOTPRINT    271

TABLE 346         CAROTENOIDS MARKET: SOURCE FOOTPRINT 272

12.8       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023          272

12.8.1    PROGRESSIVE COMPANIES       272

12.8.2    RESPONSIVE COMPANIES          272

12.8.3    DYNAMIC COMPANIES 273

12.8.4    STARTING BLOCKS       273

FIGURE 67         CAROTENOIDS MARKET: COMPANY EVALUATION MATRIX (STARTUP/SME), 2023   273

12.8.5    COMPETITIVE BENCHMARKING            274

TABLE 347         CAROTENOIDS MARKET: KEY STARTUP/SMES  274

TABLE 348         CAROTENOIDS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUP/SMES     275

12.9       COMPETITIVE SCENARIOS AND TRENDS           276

12.9.1    PRODUCT LAUNCHES  276

TABLE 349         CAROTENOIDS MARKET: PRODUCT LAUNCHES, JANUARY 2019–MAY 2024 276

12.9.2    DEALS  277

TABLE 350         CAROTENOIDS MARKET: DEALS, JANUARY 2019–MAY 2024              277

12.9.3    EXPANSIONS    279

TABLE 351         CAROTENOIDS MARKET: EXPANSIONS, JANUARY 2019–MAY 2024      279

13          COMPANY PROFILES    281

13.1       KEY PLAYERS   281

(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*

13.1.1    DSM-FIRMENICH           281

TABLE 352         DSM-FIRMENICH: COMPANY OVERVIEW            281

FIGURE 68         DSM-FIRMENICH: COMPANY SNAPSHOT           282

TABLE 353         DSM-FIRMENICH: PRODUCTS OFFERED             282

TABLE 354         DSM-FIRMENICH: EXPANSIONS 284

13.1.2    BASF SE              285

TABLE 355         BASF SE: COMPANY OVERVIEW 285

FIGURE 69         BASF SE: COMPANY SNAPSHOT 286

TABLE 356         BASF SE: PRODUCTS OFFERED 286

TABLE 357         BASF SE: EXPANSIONS  287

13.1.3    CYANOTECH CORPORATION   288

TABLE 358         CYANOTECH CORPORATION: COMPANY OVERVIEW    288

FIGURE 70         CYANOTECH CORPORATION: COMPANY SNAPSHOT    289

TABLE 359         CYANOTECH CORPORATION: PRODUCTS OFFERED     289

TABLE 360         CYANOTECH CORPORATION: PRODUCT LAUNCHES    290

13.1.4    GIVAUDAN       291

TABLE 361         GIVAUDAN: COMPANY OVERVIEW        291

FIGURE 71         GIVAUDAN: COMPANY SNAPSHOT        292

TABLE 362         GIVAUDAN: PRODUCTS OFFERED         292

TABLE 363         GIVAUDAN: DEALS        293

TABLE 364         GIVAUDAN: EXPANSIONS          293

13.1.5    ADM     295

TABLE 365         ADM: COMPANY OVERVIEW     295

FIGURE 72         ADM: COMPANY SNAPSHOT     296

TABLE 366         ADM: PRODUCTS OFFERED      296

TABLE 367         ADM: DEALS     297

13.1.6    NHU     298

TABLE 368         NHU: COMPANY OVERVIEW      298

FIGURE 73         NHU: COMPANY SNAPSHOT     299

TABLE 369         NHU: PRODUCTS OFFERED       299

13.1.7    DIVI’S LABORATORIES LIMITED             301

TABLE 370         DIVI’S LABORATORIES LIMITED: COMPANY OVERVIEW 301

FIGURE 74         DIVI’S LABORATORIES LIMITED: COMPANY SNAPSHOT              301

TABLE 371         DIVI’S LABORATORIES LIMITED: PRODUCTS OFFERED 302

TABLE 372         DIVI’S LABORATORIES LIMITED: PRODUCT LAUNCHES 303

13.1.8    ALLIED BIOTECH CORPORATION          304

TABLE 373         ALLIED BIOTECH CORPORATION: COMPANY OVERVIEW              304

TABLE 374         ALLIED BIOTECH CORPORATION: PRODUCTS OFFERED              304

TABLE 375         ALLIED BIOTECH CORPORATION: PRODUCT LAUNCHES              305

13.1.9    LYCORED          306

TABLE 376         LYCORED: COMPANY OVERVIEW           306

TABLE 377         LYCORED: PRODUCTS OFFERED           306

TABLE 378         LYCORED: EXPANSIONS             307

13.1.10  KEMIN INDUSTRIES, INC.           308

TABLE 379         KEMIN INDUSTRIES, INC.: COMPANY OVERVIEW            308

TABLE 380         KEMIN INDUSTRIES, INC.: PRODUCTS OFFERED            308

TABLE 381         KEMIN INDUSTRIES, INC.: PRODUCT LAUNCHES           309

TABLE 382         KEMIN INDUSTRIES, INC.: DEALS           309

TABLE 383         KEMIN INDUSTRIES, INC.: EXPANSIONS 310

13.1.11  FUJI CHEMICAL INDUSTRIES CO., LTD. 311

TABLE 384         FUJI CHEMICAL INDUSTRIES CO., LTD.: COMPANY OVERVIEW              311

TABLE 385         FUJI CHEMICAL INDUSTRIES CO., LTD.: PRODUCTS OFFERED              311

TABLE 386         FUJI CHEMICAL INDUSTRY CO., LTD.: PRODUCT LAUNCHES              312

13.1.12  EW NUTRITION              313

TABLE 387         EW NUTRITION: COMPANY OVERVIEW 313

TABLE 388         EW NUTRITION: PRODUCTS OFFERED 313

TABLE 389         EW NUTRITION: DEALS 314

13.1.13  DÖHLER GMBH             315

TABLE 390         DÖHLER GMBH: COMPANY OVERVIEW 315

TABLE 391         DÖHLER GMBH: PRODUCTS OFFERED 315

TABLE 392         DÖHLER GMBH: DEALS 316

13.1.14  EXCELVITE       317

TABLE 393         EXCELVITE: COMPANY OVERVIEW        317

TABLE 394         EXCELVITE: PRODUCTS OFFERED         317

TABLE 395         EXCELVITE: DEALS       317

13.1.15  FARBEST BRANDS          318

TABLE 396         FARBEST BRANDS: COMPANY OVERVIEW          318

TABLE 397         FARBEST BRANDS: PRODUCTS OFFERED           318

TABLE 398         FARBEST BRANDS: DEALS          319

13.2       OTHER PLAYERS           320

13.2.1    SOLABIA GROUP            320

TABLE 399         SOLABIA GROUP: COMPANY OVERVIEW            320

13.2.2    VIDYA EUROPE SAS       320

TABLE 400         VIDYA EUROPE SAS: COMPANY OVERVIEW        320

13.2.3    FIORIO COLORI              321

TABLE 401         FIORIO COLORI: COMPANY OVERVIEW 321

13.2.4    VALENSA INTERNATIONAL       321

TABLE 402         VALENSA INTERNATIONAL: COMPANY OVERVIEW        321

13.2.5    BGG WORLD     322

TABLE 403         BGG WORLD: COMPANY OVERVIEW     322

13.2.6    KALSEC INC.     322

TABLE 404         KALSEC INC.: COMPANY OVERVIEW      322

13.2.7    AMBE PHYTOEXTRACTS PVT. LTD.       323

TABLE 405         AMBE PHYTOEXTRACTS PVT. LTD.: COMPANY OVERVIEW              323

13.2.8    VIDYA HERBS PVT. LTD.             323

TABLE 406         VIDYA HERBS PVT. LTD.: COMPANY OVERVIEW             323

13.2.9    ASTAMAZ NZ LTD.        324

TABLE 407         ASTAMAZ NZ LTD.: COMPANY OVERVIEW         324

13.2.10  XIAMEN SINOWAY CO., LTD.     324

TABLE 408         XIAMEN SINOWAY CO., LTD.: COMPANY OVERVIEW      324

*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.

14          ADJACENT & RELATED MARKETS          325

14.1       INTRODUCTION            325

TABLE 409         ADJACENT MARKETS TO LYCOPENE MARKET  325

14.2       RESEARCH LIMITATIONS           325

14.3       FOOD COLORS MARKET            325

14.3.1    MARKET DEFINITION   325

14.3.2    MARKET OVERVIEW     326

14.3.3    FOOD COLORS MARKET, BY TYPE         326

TABLE 410         FOOD COLORS MARKET, BY TYPE, 2023–2028 (USD MILLION)              327

14.4       ASTAXANTHIN MARKET            327

14.4.1    MARKET DEFINITION   327

14.4.2    MARKET OVERVIEW     327

14.4.3    ASTAXANTHIN MARKET, BY FORM        329

TABLE 411         ASTAXANTHIN MARKET, BY FORM, 2021–2026 (USD MILLION)              329

15          APPENDIX         330

15.1       DISCUSSION GUIDE      330

15.2       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             334

15.3       CUSTOMIZATION OPTIONS      336

15.4       RELATED REPORTS       336

15.5       AUTHOR DETAILS         337