The commercial form of carotenoids is derived from plants, microorganisms, synthetic compounds, and seaweeds. Carotenoids have applications over diverse industries. The use of carotenoids is not just limited in healthcare, but they are also used in coloring products in food and beverages, dietary supplements and some cosmetic products. The growing applications of carotenoids will lead to an increase in demand. This, in turn, will favor the growth of the global carotenoids market in the forthcoming years.
Some of the Main Key Players Covered in the Report:
- Sensient Technologies Corporation
- BASF SE
- FMC Corporation
- Dohler Group
- Hansen Holding A/S
- DDW The Color House
- Ajinomoto Co., Inc
- Kemin Industries
- Novus International Inc.
The Global Carotenoids Market derives growth from applications based on antioxidant properties. According to a report by Fortune Business Insights, titled “Carotenoids Market Size, Share and Global Trend by Product Type (Beta-Carotene, Lutein, Astaxanthin, Zeaxanthin, Lycopene, Canthaxanthin), Application Type (Food & Beverages, Animal Feed, Pharmaceuticals, Cosmetics, Dietary Supplements, Other Applications), Source (Natural, Synthetic) and Geography Forecast till 2025,” the market will grow considerably in the coming years due to the high demand from diverse end-use industries.
Recent Studies Indicate Carotenoids can Help Prevent Cancer
Carotenoids are widely used in coloring substances in cosmetic products and foods. The naturally available carotenoids are particularly used in healthcare applications. Recent studies have shown that carotenoids can be useful in treating several types of cancer. Although carotenoids are not as efficient in individual forms, they can be used in combined forms for treating several health diseases, most significantly cancer.
BASF launches Next-gen Carotenoid Formulations
Carotenoid applications range from mere food coloring to sources of nutrients in food. Companies like BASF are providing carotenoid formulations manufactured through extensive techniques. In 2018, BASF launched the next generation of carotenoid formulations as a replacement to ethoxyquin stabilizer. BASF’s Lucantin NXT was a massive success and is likely to enable the growth of the global carotenoids market in the coming years.
The use of carotenoids in treating diseases like hepatocellular carcinoma has led to an increase in demand. Carotenoid recombinant capsules were found to be highly efficient in studies for carcinoma treatment. It is seen that carotenoid capsules with combined ingredients, were also useful in the treatment of liver cancer.
The report includes applications of carotenoids over diverse industries such as healthcare, food and beverages, and consumer goods. Furthermore, the report gauges the impact of naturally derived carotenoids on the healthcare industry and it further states that the increasing use will favor the growth of the global carotenoids market in the forthcoming years.
Market to Derive Growth from Biotechnological Production of Carotenoids
The beta carotenoids are widely used in food, cosmetics, and feed industries. The biotechnological way of carotenoids seems to have several advantages over naturally derived substances. The germination of microorganisms has several benefits including the ability to control temperature and pH stabilities and use of biomass for extraction of carotenoids. The biotechnological production of carotenoids will be used as an alternative to artificial pigments. The flexible nature of carotenoids can help overcome legislative and economic barriers with ease. Fortune Business Insights has predicted that biotechnological production will suffice various needs, thereby creating opportunities for the growth of the global carotenoids market in the coming years.
Due to the benefits of biotechnological production, several companies are keen on investing in the research and development of beta carotenoids, through this method. Some of the leading companies that are operating in the global carotenoids market are Sensient Technologies Corporation, BASF SE, FMC Corporation, DSM, Dohler Group, Chr. Hansen Holding A/S, DDW The Color House, Ajinomoto Co., Inc, Kemin Industries, and Novus International Inc. Other prominent players include AquaCarotene, Cognis Nutrition & Health, Cyanotech, Nikken Sohonsha Corporation, Tianjin Lantai Biotechnology, and Parry Nutraceutical.
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