Carotenoids: A Global Strategic Business Report
San Jose, California (PRWEB) October 06, 2011
Follow us on LinkedIn - Growing interest in healthy diets including functional and processed food products is fuelling growth in the global carotenoids market. Rising health concerns and the growing demand for natural food products and natural colorings is enhancing the demand for carotenoids. An aging global population, need for healthy food products, and growing consumer interest in nutrition and preventive health measures are expected to drive consumption of carotenoids. The market is also expected to benefit from the discovery of new health benefits backed by increased research findings on the benefits of carotenoids. The antioxidative properties of carotenoids have propelled their extensive usage in food industry where the components were earlier used only as colorants. In the coming years, natural carotenoids are expected to find increased acceptance among consumers, taking share away from the synthetic carotenoids market due to the increasing demand for fortified and natural food products.
The United States and Europe dominate the global carotenoids market, as stated by the new market research report on Carotenoids. Majority of the sales in the global carotenoids market are sourced from the mature markets including the US and Europe. On the other hand, developing countries such as China, India, Japan and Malaysia are expected to post significant sales over the coming years.
The US is one of the top consumers of carotenoids worldwide. Discovery of new health-implications for carotenoids, especially lutein, canthaxanthin and astaxanthin have had a positive impact on the growth of the US carotenoids market. Rising awareness about the benefits offered by various carotenoids, and the growing availability of carotenoid dietary supplements (synthetic and natural) is driving market growth. The feed sector represents the largest end use segment due to widespread use of astaxanthin and canthaxanthin. Astaxanthin constitutes the fastest growing segment in the US carotenoids market owing to its increased usage in aquaculture.
Beta-Carotene, used extensively in foods and supplements, constitutes the largest product segment in the global carotenoids market. The growing popularity of beta-carotene is attributed to health benefits offered by the pigment and its extensive use as a food-coloring agent. The segment market faces tough times owing to the consumer shift towards natural products such as carrot juice, particularly in the European market. Rise in the number of producers of algae-derived and synthetic beta-carotene has led to a steep imbalance in the demand and supply situation, contributing to a downward slide in the prices.
The global market for carotenoids is predominated by the presence of DSM and BASF, which collectively account for a major share of the market. Global carotenoid manufacturers face cutthroat competition from Asian companies that offer relatively low-priced synthetic carotenoid products. Major players profiled include Algatechnologies Ltd., BASF SE, Chr. Hansen A/S, Cyanotech Corporation, Kemin Industries Inc., LycoRed Ltd., Mera Pharmaceuticals Inc., Overseal Natural Ingredients Ltd., Pharmline Inc., Phytone Limited, Royal DSM N.V., Sensient Technologies Corporation, and Valensa International LLC.
The research report titled “Carotenoids: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections by the following geographic markets - US, Europe, and Rest of World. Key segments analyzed include Beta-Carotene, Lutein, Astaxanthin, Canthaxanthin, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Carotenoids_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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