Carotenoids Market Growth (3.78% CAGR) to 2021 Led by Animal Feed Segment
PUNE, India, July 12, 2016 /PRNewswire/ --
Carotenoids market is seeing steady growth globally to 2021 led by Astaxanthin, which accounted for the largest market share on the basis of type and animal feed segment on the basis of application; growth is also driven by industrialization of pork, poultry, aquaculture business and the rising focus on the quality and appearance of meat, meat products, and fish.
Complete report on global carotenoids market spread across 193 pages, profiling 10 companies and supported with 75 tables and 55 figures is now available http://www.reportsnreports.com/reports/344584-carotenoids-market-by-type-astaxanthin-beta-carotene-canthaxanthin-lutein-lycopene-zeaxanthin-source-synthetic-and-natural-application-supplements-food-feed-and-cosmetics-by-region-global-trends-forecasts-to-2019.html .
The global carotenoids market is projected to reach a value of USD 1.53 billion by 2021, growing at a CAGR of 3.78% from 2016 to 2021. The market is driven by factors such as increasing health consciousness among the customers, rising end-use applications of carotenoids, and increasing preference for natural coloration. The industrialization of pork, poultry, and aquaculture business and the rising focus on the quality and appearance of meat, meat products, and fish are factors driving the carotenoids market demand in animal feed sector.
On the basis of type, carotenoids are segmented into astaxanthin, beta-carotene, lutein, lycopene, canthaxanthin, and zeaxanthin. Among these, astaxanthin accounted for the largest carotenoids market share in 2015, followed by beta-carotene and lutein. Astaxanthin is used on a large scale due to its functional qualities, easy availability, and application in almost all the industrial sectors.
On the basis of application, the carotenoids market is led by the feed segment, followed by the supplements and food segments. The demand for carotenoids in animal feed is increasing due to the increasing preference for good quality and appearance of meat, meat products, and fish. Along with adding nutrients to the feed, carotenoid also increases the palatability of feed.
Europe formed the largest carotenoids market in 2015, geographically, whereas North America accounted for the second-largest market share in 2015, and is projected to grow at the highest CAGR from 2016 to 2021. The global carotenoids market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia-Pacific, Latin America, and the Rest of the World (RoW).
Key players identified in the carotenoids market include BASF SE (Germany), Royal DSM N.V. (The Netherlands), Chr. Hansen A/S (Denmark), FMC Corporation (U.S.), Kemin Industries, Inc. (U.S.), and Cyanotech Corporation (U.S.). Along with these companies, the other players that have a strong presence in the carotenoids market include D.D. Williamson & Co., Inc. (U.S.) Allied Biotech Corporation (Taiwan), ExcelVite Sdn. Bhd. (Malaysia), and Döhler Group (Germany). Order a copy of this carotenoids market report at http://www.reportsnreports.com/Purchase.aspx?name=344584 .
In the process of determining and verifying, the global carotenoids market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (36%), Tier 2 (42%) and Tier 3 (22%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (69%), Manager Level (31%) from various key organizations operating in the global carotenoids market. The primary interviews were conducted worldwide covering regions such as North America (22%), Europe (56%), Asia-Pacific (19%) and RoW (3%).
On a related note, another research on Feed Pigment Market Global Trends & Forecasts to 2020 says, market is projected to grow at a CAGR of 3.2% from 2015 to 2020 driven by factors such as increasing meat consumption and growing industrialization of pork, poultry, and aquaculture business. Carotenoids accounted for the largest market share in 2014 Synthetic feed pigments lead the market with the largest share. Companies like BASF SE, Royal DSM N. V., Kemin Industries, Inc., D.D. Williamson & Co., Inc. and Guangzhou Leader Bio-Technology Co., Ltd have been profiled in this 180 pages research report available at http://www.reportsnreports.com/reports/283182-feed-pigment-market-by-type-carotenoids-curcumin-caramel-spirulina-others-by-livestock-swine-cattle-poultry-aquatic-animals-others-by-geography-global-trends-forecasts-to-2018.html .
Explore more reports on the Food and Beverages market at http://www.reportsnreports.com/market-research/food-and-beverages/.
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