Carotenoids Pigment market insights cover food and beverage industries utilizing Carotenoids pigmentants worldwide, the market is expected to reach a market valuation of nearly USD 539 million by the year 2022, rising with a CAGR of 5.5% between 2022-2032. Carotenoids pigment sales accounted for a huge ~33.28% of the sales in the global natural pigment market which is valued at USD 1.6 Billion in 2021.
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Key Takeaways from Market Report
- The overall natural food colors market is expected to expand at CAGRs of 6.5% and 6.1% in North America and Latin America, respectively, through 2032, while the carotenoids food colors market is anticipated to grow at a rate of 5.8% and 6% in these regions respectively.
- The European carotenoids food colors market is currently pegged at 700 metric tons by volume and USD 160 million by value. The demand for carotenoid Food Colors is about to grow at 9% CAGR between 2022 and 2032 in this region.
- In 2021, the Asia Pacific market had a market share of 23.4% in the global carotenoids food colors market. It is anticipated to register over 6% CAGR through 2032 due to the rising occurrence of chronic diseases and the growing awareness among people of the advantages of carotenoids.
- Although by application, the beverages industry holds command over the highest market share of 20%, the pet food segment for carotenoids consumption is set to expand at a CAGR of 2%.
- Growing consumer preference for organic, healthy, and nutritious food products is the main driver for sales of carotenoid food colors across global markets.
“Carotenoids food colorant manufacturers are advised to target the health and nutrition markets like dietary supplements industry. Manufacturers should also strive to achieve higher production volumes, to make such natural food colors more affordable to food processing industries. Carotenoids already find application in numerous other industries apart from F&B, hence corporations should not limit themselves to Food and beverages,” says a Future Market Insights analyst.
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Competitive Landscape
Key market players operating in the carotenoid extract market are Chr. Hansen Holding A/S, Kalsec Inc, Divis Laboratories, Allied Biotech Corporation, Fiorio Colori, Sensient Technology Corporation, FMC Corporation, D.D. Williamson & Co. Inc., Dohler Group, Lycored, Kemin Industries Inc, Cyanotech Corporation, WILD Flavors, Naturex S.A., and a few other regional players. The Carotenoids Pigment report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated and statistically supported market data of these profiled market players.
Carotenoids Pigment Market by Category
By Product, the Carotenoids Pigment market is segmented as:
- Astaxanthin
- Beta-carotene
- Lutein
- Lycopene
- Canthaxanthin
- Zeaxanthin
- Other types (capsanthin, annatto, alpha-carotene, apocarotenal, etc.)
By Application, the Carotenoids Pigment market is segmented as:
- Bakery & Confectionery Products
- Beverages
- Fruit Preparations/ Fillings
- Dairy Food Products
- Potatoes, Pasta, and Rice
- Soups, Sauces, and Dressings
- Meat, Poultry, Fish, and Eggs
- Seasonings
- Others
By Region, the Carotenoids Pigment market is segmented as:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia), Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa), India
- Asia-Pacific (China, Japan, South Korea, Thailand, Malaysia, Vietnam, Indonesia, Oceania (Australia, New Zealand))
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