The demand for carotenoids has been steadily growing in recent years, and it is expected to continue growing in the forecast period of 2020 to 2030. The market rift between naturally-sourced carotenoids has been major, but high raw material costs and premium prices have been market deterrents. The use of algae in the synthesis of carotenoids, on the other hand, is expected to change this scenario. Carotenoids derived from natural sources, such as algae, are expected to contribute to the market's growth in the coming years.
Carotenoids have gained popularity as the demand for natural and plant-based products in the food, beverage, and functional product industries has increased. Carotenoids have been branded nature similar, and several firms have invested in clean label certifications such as vegan, halal, and kosher, among others, though synthetically available in multiple markets. Carotenoids have been increasingly used in functional foods and beverages in recent years, and this trend is expected to continue throughout the forecast period.
Europe holds the largest share of the carotenoids market and is projected to rise at a moderate pace over the forecast period. Carotenoids derived from natural sources have long been common in the area, and the use of natural colours is expected to grow in the coming years. In Asia Pacific, carotenoids are receiving a lot of attention and people are eating more of them. During the forecast period, the carotenoids market in Asia Pacific is projected to rise at the fastest pace, with a 2.X increase in value by 2030 over the value in 2020.
Source : Carotenoids Market : Fact.MR Reports
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Carotenoids.
Carotenoids are pigments in plants that give fruits and vegetables their red, orange, and yellow colors. They have antioxidant properties and are beneficial for human health, supporting eye health, immune function, and reducing the risk of chronic diseases. Some common carotenoids include beta-carotene, lutein, and lycopene.
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