The carotenoids market refers to the market for natural pigments used as food additives and colorants. These pigments are found in plants, fruits, and vegetables, and are known for their antioxidant properties and health benefits. The carotenoids market is projected to grow from USD 1.5 billion in 2019 to USD 2.0 billion by 2026, recording a CAGR of 4.2% during the forecast period.

Drivers of the carotenoids market include the increasing demand for natural food colorants, growing awareness about the health benefits of carotenoids, and the increasing demand for functional foods and beverages. The growing popularity of plant-based diets is also expected to drive demand for carotenoids, as they are commonly found in plant-based foods.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=158421566

However, factors such as high prices and limited availability of natural carotenoids, as well as the increasing competition from synthetic carotenoids, may hinder the growth of the carotenoids market. Additionally, the ongoing COVID-19 pandemic has had a negative impact on the market, due to supply chain disruptions and the decline in consumer spending.

The carotenoids market can be segmented based on product type, application, and region. Based on product type, the market is segmented into carotene, xanthophylls, and others. Based on application, the market is segmented into food & beverages, animal feed, pharmaceuticals, and cosmetics.

Geographically, the carotenoids market i segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to hold the largest share of the market, due to the large consumer base and the growing demand for natural food colorants and functional foods in countries such as China and India.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=158421566

The prominent vendors in the carotenoids market include Koninklijke DSM (Netherlands), BASF (Germany), Chr. Hansen (Denmark), Kemin Industries (US), Lycored Limited (Israel), Cyanotech Corporation (US), Fuji Chemical Industry Co Ltd. (Japan), Novus International (US), DDW The Color House (US), and Dohler Group (Germany).