North America Carotenoids Market

North America Carotenoids Market Growth and Forecast (2023 - 2028):

North America Carotenoids Market is expected to reach USD 0.37 billion by 2028 from USD 0.31 billion in 2022, growing at a CAGR of 3.65%. The Carotenoids market is forecasted to show great potential over the mentioned period. The market has continued to gain momentum with the shooting high demand for the natural sourced carotenoids in the market.

Market Overview:

Carotenoids are class of plant pigments responsible for the bright red, orange and yellow hues in various fruits and vegetables. These are also important for maintenance of a plant’s health as well as human health on consumption of these fruits and vegetables. They assist plants in the process of photosynthesis by helping them in absorbing light energy and are thus the reason behind the colour of plants or the fruits & vegetables. They also act as antioxidants in plants as well as human body.

Drivers and Restraints:

The rising demand for natural colorants have been a key factor behind the growth of the market of carotenoids in the recent years. Other important factors driving the market growth are expanding end user applications, industrialization in sectors like poultry, pork, and aquaculture, preventive nutraceuticals and healthcare. The market has also been facing few restraints and challenges. These include lack of R&D in remote regions, harmful effects of high dose of carotenoids, and stringent government regulations as well as approval norms. These factors are responsible for holding back the market from reaching its actual potential, and are thus required to be dealt with.

North America Carotenoids Market Segmentation Analysis:

The North America Carbohydrase market is segmented by source, type and application. On the basis of segmentation by source, the segments are Synthetic and Natural. The market segmentation based on type is done into Beta-Carotene, Canthaxanthin, Astaxanthin, Lycopene, Lutein, Zeaxanthin. Based on segmentation by application the market is categorized into Supplements, Cosmetics, Feed, Food.

Region Analysis:

Geographically the North America Carotenoids Market is segmented into US, Canada, Mexico and Rest of North America.

Key Players in the Market:

Major Key Players in the North America Carotenoids Market are

• BASF SE
• Chr. Hansen A/S
• FMC Corporation
• Royal DSM N.V
• Cyanotech Corporation
• D.D. Williamson & Co., Inc
• Döhler Group
• Kemin Industries Inc
• Allied Biotech Corporation
• Excelvite SDN. BHD