Feed, Food & Pharmaceutical Applications Drive Demand for Carotenoids, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on carotenoids markets. Global market for carotenoids is projected to reach US$1.2 billion by 2018, driven by growing demand from end-use applications such as food, animal feed and pharmaceuticals.

Carotenoids: A Global Strategic Business Report

Follow us on LinkedIn. Predominantly used as food colorants, carotenoids today find extensive application in cosmetics, pharmaceutical and animal feed industries. With recent studies validating the health benefits of carotenoids in reducing the risk of cancer, vision loss, cardiovascular, and neurodegenerative diseases, demand is on the rise in the food and pharmaceutical industries. Rapidly aging population and increase in lifestyle related chronic diseases are helping fuel demand for food and health supplements containing carotenoids. With a large number of doctors and healthcare professionals prescribing carotenoid-rich dietary supplement regimens to the elderly, demand is expected to increase in the coming years. Use of carotenoids as a key ingredient in high-performance functional beverages is especially helping drive growth in food applications. Growing demand for wellness drinks against a backdrop of rapid socio-economic growth, rising standard of living, increase in discretionary spending, and stronger emphasis and health and well-being, is therefore expected to benefit demand for carotenoids.

Personal care and cosmeceuticals also provide lucrative market opportunities for carotenoids. The antioxidant property represents the prime benefit of carotenoids driving its application in anti-aging cosmetics, and supplements. As an antioxidant, carotenoids have the ability to quench free radicals and protect the cell from oxidative damage or stress caused by pollution, ultraviolet radiation or other environmental factors that destabilize normal molecules. A range of colorless carotenoids including Phytoene and Phytofluene, are known to boost properties of key active ingredients used in the production of cosmetics and personal care products. Carotenoids are therefore poised to witness strong demand as natural nutritional additives in cosmetic formulations.

The market is also expected to witness a shift towards natural carotenoids, as a result of growing consumer awareness about the benefits of all-natural products. With consumers increasingly paying attention to ingredients used in the production of foods, drugs, and cosmetic products, synthetic carotenoid derivatives are expected to be replaced by natural carotenoids. Algae-derived beta-carotene is forecast to witness robust demand in the food and supplements end-use sector.

As stated by the new market research report on Carotenoids, the United States represents the single largest worldwide, driven by increasing demand for supplements (both oral and topical) from the rapidly aging population. Strong demand from poultry and aquaculture industry and shifting preference towards natural carotenoids also represent other major factors driving growth. Asia-Pacific is forecast to spearhead growth with the fastest CAGR of 3.2% over the analysis period. The presence of large pharmaceutical production units in India and China typically serving outsourced drug manufacturing activity for leading global pharma giants provides robust opportunities for carotenoids for use in drug manufacturing in the region. Beta-carotene represents the largest product market supported by extensive use as a coloring agent in various applications including food, pharmaceuticals and cosmeceuticals. Lutein is forecast to emerge as the fastest growing product category driven by growing applications in eye health supplements.

Key players covered in the report include Algatechnologies Ltd., BASF SE, FMC Corporation, Carotech Bhd, Chr. Hansen A/S, Cyanotech Corporation, Royal DSM N.V, DSM Nutritional Products Ltd., Kemin Industries Inc., LycoRed Ltd., Sensient Technologies Corporation, Valensa International LLC, among others.

The research report titled “Carotenoids: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market trends, growth drivers, latest product launches and recent industry activity of major companies worldwide. The report provides market estimates and projections in US Dollars and Metric Tons by Product type including Beta-Carotene, Lutein, Astaxanthin, Canthaxanthin, Annatto, Capsanthin and Others (Beta-Apo-8-Carotenal, Beta-Apo-8-Carotenal-Ester, Lycopene, and Zeaxanthin). End-use markets analysed include Animal Feed, Food and Pharmaceuticals. Key geographic markets analyzed in the report include the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World.

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

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