Global Carotenoids Market Is Projected To Reach US$ 1,710.92 By 2022, Growing At A CAGR Of 4.6% From 2015 To 2022
By product type, beta carotene accounted for the largest share of the pie followed by lutein and astaxanthin. In 2014, beta carotene accounted 34% share of the pie in terms of value and projected to maintain its dominance over the next six year. Beta-Apo-8-carotenal is projected to be the fastest growing market and projected to grow at a CAGR of 6.0% from 2015 to 2022. Lutein and lycopene are the other two fastest growing market.
By application, demand for carotenoids was highest from the animal feed segment and accounted for 34% share of the market in 2014. As carotenoids is only found in plants and cannot be synthesized by livestock, animals’ requirement of this nutrient is fulfilled by their diet. However, demand for carotenoids is projected to be highest from the supplements segment which is projected to grow at a CAGR of 4.9% during the forecast period.
Other in-depth analyses provided in the report include:
- Current and future market trends to justify the forthcoming attractive markets within carotenoids market
- Market drivers, market restraints, and their impact on the market growth
- In-depth competitive analysis of players present in the market
- SRC (Segment-Region-Country) Analysis
[Report is originally published on Credence Research Inc.]