World Carotenoids Market to Reach US$ 1.06 Billion by 2010, According to New Report by Global Industry Analysts, Inc.

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Driven by rising health concerns, and waxing demand for natural food colorings, and processed food products, the world carotenoids market is projected to reach US$ 1.06 billion by the year 2010. Research over alternate sources of carotenoids, and developments in extraction technologies are expected to create expanded market opportunities in the medium to long term. While the developed countries represent mature, yet major markets, the future is likely to witness developing countries i.e. China, India, and Malaysia, fork out opportunities for future growth and sustenance.

Carotenoids: A Global Strategic Business Report

World carotenoids market stands enthused by the growing interest in healthy diets, the rapidly aging population and revolutionary changes in eating habits in favor of natural and fortified food products. Food and pharmaceutical end-use sectors are expected to present growth opportunities on a platter, given the rising importance of antioxidants in these markets. Over-the-counter health supplements, as an end-use sector, is also expected to generate demand for carotenoids, driven largely by new research studies which highlight the benefits of carotenoids in allaying the risk of developing diseases such as AMD (age related macular degeneration). Innovations in commercializing cheaper sources of carotenoids are expected to reduce the cost of producing carotenoids. Ocean Nutrition Canada, for instance, is presently probing the possibility of extracting carotenoids and co-enzyme Q10 from marine microbial species such as Thraustochytrids. Indian researchers recently made headway in extracting carotenoids, particularly lutein from green colonial microalgae. This represents a shift away from plants as the conventional and most predominant source of carotenoids.

As stated by the recent report published by Global Industry Analysts, Inc., Beta-carotene is the largest product group dominated by Europe with a 43.3% share in the year 2006. The United States is however expected to post relatively higher growth with market value projected to rise by US$ 8.59 million between the period 2007 to 2010. World astaxanthin market stands poised to reach US$219.03 million by the year 2010, with the United States leading growth with a CAGR of 4.28% over the analysis period of 2000 through 2010. Sales of lutein, and canthaxanthin, together, are expected to rise by US$28.8 million between the period 2007 to 2010, with Europe posting the strongest growth in the lutein market. Demand for carotenoids in the animal feed market, which is the largest end-use application area, is expected to remain subdued with global growth averaging to just 1.7% over the analysis period. Highest growth is expected to stem from the pharmaceutical end-use market, which flaunts the potential to reach US$ 137.6 million by the year 2010. The food industry, as an end-use application market, also exhibits promising potential, with demand expected to rise by US$ 46 million between the period 2007 to 2010.

Leading global and regional players operating in the industry include BASF AG, DSM, Kemin Industries Inc., Cognis Group, Valensa International, Phytone Ltd, LycoRed Natural Products Industries Ltd., Carotech Bhd, Chr. Hansen A/S, and Allied Industrial Corporation Ltd, among others.

The report titled "Carotenoids: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of technology trends, research and development trends, market drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key product/end-use segments. Product markets analyzed in the report include Astaxanthin, Beta-Carotene, Lutein, and Canthaxanthin. End-use application markets analyzed include Animal Feed, Food, and Pharmaceuticals. Latent demand patterns in product/end-use markets are quantified across major geographic market verticals including the United States, France, Germany, and United Kingdom, among others. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.

For more details about this research report, please visit http://www.strategyr.com/MCP-1700.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR.com
Web Site http://www.StrategyR.com

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