Boston, July 01, 2025 (GLOBE NEWSWIRE) — According to the latest study from BCC Research, “The Global Market for Carotenoids” is expected to grow from $2.1 billion in 2024 to $2.9 billion by the end of 2029 at a compound annual growth rate (CAGR) of 6.7% from 2024 through 2029.
This report provides insights into the global carotenoids market, examining the market shares of leading companies. It segments the market by source (synthetic and natural) and by product type (astaxanthin, beta carotene, lutein, lycopene, canthaxanthin, and others). It is further segmented by application, such as food and beverages, dietary supplements, and feed. Additionally, it offers regional forecasts for North America, Europe, Asia-Pacific and South America. This information helps stakeholders understand market trends and identify growth opportunities.
The factors driving the market include:
Increasing Demand for Dietary Supplements: Carotenoids are widely used as vitamin A precursors and antioxidants in health supplements, driving their demand as more consumers focus on personal health and wellness.
Growing Animal Feed Industry: Rising demand for nutrient-enriched animal feed, especially in poultry and aquaculture, boosts the use of carotenoids due to their pigmentation and health benefits.
Rising Demand for Natural Color Additives: With stricter regulations on synthetic colors and a growing preference for clean-label products, natural carotenoids are being adopted as effective alternatives in food and beverage applications.
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Report Synopsis
| Report Metric | Details |
| Base year considered | 2023 |
| Forecast period considered | 2024-2029 |
| Base year market size | $2.0 billion |
| Market size forecast | $2.9 billion |
| Growth rate | CAGR of 6.7% for the forecast period of 2024-2029 |
| Segments covered | Source, Application, Product |
| Regions covered | North America, Europe, Asia-Pacific, South America, Rest of the World |
| Countries covered | U.S., Canada, Mexico, Germany, U.K., France, Italy, Russia, Spain, Poland, Denmark, Netherlands, China, Japan, India, Australia, Thailand, Singapore, Brazil, Argentina, Columbia, Paraguay, Peru, South Africa, UAE, Iran, Saudi Arabia, Egypt, Nigeria, Morocco, Algeria |
| Market drivers |
|
Interesting facts:
- The carotenoid industry is experiencing robust growth, bolstered by the expanding natural ingredients sector. This trend drives innovation and technological developments for natural carotenoid manufacturing.
- Technologies such as microbial fermentation for large-scale carotenoid manufacturing through bacteria collectively serve as major contributors to market growth, as consumers and businesses prioritize sustainable and clean-label products.
Emerging startups
- Zenfold Sustainable Technologies, founded in 2021 and based in India, specializes in the production of fine and specialty chemicals, including carotenoid products for nutraceutical applications. Its product range features astaxanthin, zeaxanthin, and beta-carotene. The company is committed to manufacturing intermediates and chemicals using sustainable and cost-effective techniques.
The report addresses the following questions:
- What is the carotenoids market’s projected growth rate and size?
- The estimated size of the food carotenoids market will be $2.9 billion by the end of 2029, with a CAGR of 6.7%.
- Which segments are covered in the report?
- The market is segmented by product (astaxanthin, beta carotene, lutein, lycopene, canthaxanthin, others), source (natural and synthetic), application (food and beverages, feed, dietary supplements), and region (North America, Europe, Asia-Pacific, South America, Rest of the World).
- Which source segment will be dominant through 2029?
- The synthetic segment will continue to dominate the market through 2029.
- Which region has the largest market share?
- Europe holds the largest market share, driven by the increasing demand for dietary supplements and strict regulation on synthetic food color.
Market leaders include:
- Allied Biotech Corp.
- BASF
- Bioextract
- Cyanotech Corp.
- Divi’s Laboratories Ltd.
- Dӧhler GmbH
- DSM-Firmenich
- E.I.D. – Parry (India) Ltd.
- EW Nutrition
- Farbest Brands
- Givaudan
- Kemin Industries Inc.
- Lycored
- Nhu Zhejiang
- Sensient Technologies Corp.
Related reports:
The Global Market for Food Additives: The report examines the market shares of leading companies in the food additives market. It segments the market by type (flavors, acidulants, non-nutritive sweeteners, colorants, flavor enhancers, preservatives, enzymes), source (natural and synthetic), and application (beverages, bakery and confectionery, sauces, dressings and condiments, dairy and frozen desserts, sweet and savory snacks). It also covers regional markets, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
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