Carotenoids Market Size, Industry Growth, Trends And Analysis Research Report To 2026

Rising demand for carotenoid supplements in treating Vitamin-A deficiency is estimated to stimulate market demand.

Market Size – USD 1.65 billion in 2018, Market Growth - CAGR of 3.5%, Market Trends – Increased investment in R&D to develop high-quality natural carotenoid

The global carotenoids market is expected to reach USD 2.19 Billion by 2026, according to a new report by Reports and Data. Carotenoids are the type of phytonutrients found in the cells of a wide variety of plants, algae, and bacteria. These phytonutrients help plants absorb light energy for use in photosynthesis. Carotenoids are essential anti-oxidants that play a significant role in animal health and reproduction. Carotenoid-containing foods are generally red, yellow or orange.

Carotenoids are extensively used as coloring agents in food and beverages industry. Nevertheless, with biotechnological advancements coupled with innovations in recombinant DNA technology, the extraction of carotenoids is now commercially feasible. Owing to this, there is an increase in the production of carotenoid-based products. The rise in consumer awareness regarding the health benefits of carotenoid-based supplements and fortified foods has led to the use of such products as a preventive measure against various health conditions including arthritis, diabetes, obesity, cancer, macular degeneration, and skin damage among others.

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Carotenoids Market | Reports and Data

The growth in the market demand for functional foods is also estimated to propel the market demand for carotenoids. The carotenoid market is projected to rise significantly in the forecast period owing to high demand in end-use applications comprising food & beverages, animal feed, dietary supplements, personal care, and pharmaceuticals among others.

Eating carotenoid-rich foods can protect healthy cells in the eye and inhibit the growth of cancerous cells. One of the principal reasons for blindness is macular degeneration. Presence of the long system of alternating double and single bonds in carotenoids allows them to absorb light rays in the visible range of the spectrum. This characteristic is particularly beneficial to eyes, where lutein, zeaxanthin, and meso-zeaxanthin efficiently absorb blue light. Based on the density of the carotenoid pigment present in the macula, about 90% of blue light can be absorbed by these pigments. Reduction in the amount of short wavelength that reaches the vital parts of the eye may protect them from oxidative damage caused by light.

Studies show that including at least 6 mg of lutein in your diet regularly can reduce the risk associated with the macular degeneration by 43%. Increasing the amount of lutein and zeaxanthin in diet can also assist in preventing current eye damage.

The carotenoid market in the Asia Pacific region is forecasted to observe significant growth rate of 3.8% in the forecast period owing to the rising demand of carotenoid amongst the end-user industry. Technological advancements, industrial growth, economic growth, and low costs of production in countries such as China, Japan, and India are expected to stimulate the market demand in this region.

Further key findings from the report suggest

• Beta-carotene accounted for more than 20% of the market share in the year 2018 and is projected to have a growth rate of 3.6% during the forecast period. The application of beta-carotene as a colorant, antioxidant, and as a rich source of vitamin A in food & beverages, animal feed, dietary supplements, personal care products, and pharmaceuticals is expected to propel the market growth.

• Natural sources of production of carotenoids are forecasted to observe the highest growth rate of 3.8% in the forecast period. Rising consumer awareness about the health benefits and the gains associated with natural products is projected to boost market demand throughout the forecast period.

• At present, carotenoids are mostly used as additives and dyes in human and animal foods. Animal feed segment dominated the market and held more than 40% of the carotenoids market with a growth rate of 3.5% in the forecast period.

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• Europe contributed to the largest market share in the forecast period with USD 0.63 billion in 2018 due to the increasing demand for health supplements and animal feed.

• Key participants include BASF, Allied Biotech, AquaCarotene, Algatechnologies, Kemin Industries, Cyanotech Corp., Brenntag, Divis Laboratories, Naturex SA, DSM Nutritional Products, D.D. Williamson, Lycored, FMC Corporation, and EID Parry.

For the purpose of this report, Reports and Data have segmented global carotenoid market on the basis of type, source, extraction, application, and region:

Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Beta-Carotene

• Alpha-Carotene

• Lycopene

• Lutein

• Zeaxanthin

• Beta-Cryptoxanthin

• Astaxanthin

• Others

Source Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Natural

• Synthetic

Extraction Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Conventional Process (using organic solvents or vegetable oils)

• Supercritical Fluid Extraction

Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• Food & Beverages

• Animal Feed

• Dietary Supplements

• Personal Care

• Pharmaceuticals

• Others

Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

• North America

o U.S.

• Europe

o Germany

o UK

• Asia Pacific

o China

o India

o South-east Asia

• Latin America

o Brazil

• MEA

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Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2016-2026

Chapter 3. Indicative Metrics

Chapter 4. Carotenoids Segmentation & Impact Analysis

    4.1. Carotenoids Material Segmentation Analysis

    4.2. Industrial Outlook

         4.2.1. Market indicators analysis

         4.2.2. Market drivers analysis

                 4.2.2.1. Growth of end-use Industries

                 4.2.2.2. Increasing use of carotenoids in treating chronic diseases

                 4.2.2.3. Rising demand for carotenoid supplements in treating Vitamin-A deficiency

                 4.2.2.4. Increased investment in R&D to develop high-quality natural carotenoid

         4.2.3. Market restraints analysis

                 4.2.3.1. Stringent Legislations and Regulatory Norms

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. ETOP Analysis

    4.6. Porter’s Five Forces Analysis

    4.7. Competitive Metric Space Analysis

    4.8. Price trend Analysis

Continue…

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Catalyst Market Size, Share, Trends And Forecast To 2026| Top Key Players are BASF SE, Clariant AG, Evonik Industries AG, ExxonMobil Chemicals Co.

Increasing demand for petrochemicals from several end-use industries is expected to be a prime factor driving the market growth; The inclusion of high-grade polymers in producing commodities for domestic as well as the export-oriented sector is also expected to grow the market demand in the future.

Market Size – USD 18.03 Billion in 2018, Market Growth - CAGR of 4.4%, Market Trends 

The increasing global demand for clean and green fuels is fuelling the market growth.

The global Catalyst Market is estimated to reach USD 25.60 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increasing demand for refined petroleum products, chemical synthesis, and petrochemicals, the ability of a catalyst to reduce the amount of energy to produce an end product and enforced environmental laws on emission control. Energy cost is also a notable driver in the catalyst market as several industries are using catalysts to reduce their energy cost.

Moreover, the demand for clean and green fuels has changed the trend of energy generation from conventional to clean resources. Cobalt, nickel and iron catalysts are the essential components used for clean energy generation processes, such as the Fischer-Tropsch synthesis. Fast expanding polymer and chemical manufacturing sectors are also expected to play a crucial role in the growth of the market. Also, supportive regulations regarding the production and usage of catalysts are expected to expand market growth over the next few years. Emission regulations are the prominent drivers for a wide range of application sectors. Also, the usage of catalysts for environmental and chemical applications is assumed to have the highest market growth.

APAC accounts for the largest market share of 28.30% in 2018, with its ever-growing consumer base for end products, and creating demand for the compound in industrial sector mainly in petroleum refining and chemical synthesis. APAC is expected to register substantial growth, owing to the developing economies, such as China and India and the increase in demand for automotive from the countries. Also, the rise in living standards and rapid industrialization activities in the region also encourage the growth and development of the catalyst market. Moreover, the development of biochemicals through catalysis offers various opportunities for the growth in future. However, limited development and distribution of new catalysts restrain the market growth.

Further key findings from the report suggest

• Emission regulations are the prominent drivers for a wide range of application sectors. Also, the usage of catalysts for environmental and chemical applications is also expected to boost market growth.

• Significant factors in the global catalyst market for the rising adoption of catalysts are increasing consumption of fuels and other chemical products, and rising investments in industries. Further, growing demand for producing more efficient products like low carbon number products, high octane number gasoline, and others has effectively boosted the growth of the market.

• Swiftly expanding polymer and chemical manufacturing sectors are also expected to play a crucial role in the growth of the market. Also, supportive regulations regarding the production and usage of catalysts are expected to expand market growth over the next few years.

• Metal-based catalysts is valued at USD 5.81 billion in 2018 and is estimated to reach USD 8.32 billion by 2026 at a CAGR of 4.5% during the forecast period, due to their availability and rise in global demand for industrial catalysts in refining.

• The market for organometallic material-based catalysts is anticipated to have the highest CAGR of 4.5% during the forecast period, due to the growing demand from chemical synthesis industry.

• By application, the catalyst market can be segmented into chemical synthesis, petroleum refining, and polymer formulation. Petroleum refining market of the application category accounts for the largest market share of 39.30% in 2018, due to the growing demand for catalysts in the manufacturing of fuels and other petroleum products. The importance of using catalysts has increased mainly due to the increased demand for fuels and the implementation of environmental standards in industries like automotive and polymers.

• Heterogeneous market of the type segment has the largest market share on account of full product usage in the polymer industry. It is used in the form of vanadium oxide and also for the production of sulfuric acid, which is increasing due to growing demand of this acid in oil refining, chemical synthesis, and wastewater processing. This is also expected to fuel the need for heterogeneous catalyst soon.

• Heterogeneous catalysts are solids and can also be added into solid or liquid reaction mixtures. The demand for heterogeneous catalysts is expected to grow at a CAGR of 4.4% during the forecast period and accounts for the largest market share of 61.12% in 2018. The traditional favorability of the compound is mainly due to its easily separable nature from reactants which makes the recovery process straightforward and minimizes the purification steps.

• The market players are primarily focused on developing new technologies to meet the requirements of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.

• The market for MEA is valued at USD 4.36 Billion in 2018 and is estimated to reach USD 6.22 Billion by 2026. It is expected to be the second fastest-growing regional market during the forecast years.

• Key participants include DowDuPont Inc., Albemarle Corporation, Chevron Phillips Chemical Company LLC, BASF SE, Clariant AG, Evonik Industries AG, Johnson Matthey, ExxonMobil Chemicals Co., INEOS AG, and WR Grace & Co.

For the purpose of this report, Reports and Data have segmented global Catalyst Market on the basis of Catalyst Type, Product, Application, and region:

Catalyst Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)

Homogeneous

Heterogeneous

Product Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026) 

Zeolites

Metals

Chemicals

Organometallic

Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)

Petroleum Refining

Chemical Synthesis

Polymer formulation

Others

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