The Global Market for Carotenoids

Report Highlights

The current market value of commercially used carotenoids is estimated at nearly $1.2 billion in 2010, with a chance to grow to $1.4 billion in 2018 with a compound annual growth rate of 2.3%.

Report Scope

This report reviews the global market of the commercialized carotenoids:

• Annatto
• Astaxanthin
• Beta-carotene
• Beta-apo-8-carotenal
• Beta-apo-8-carotenal-ester
• Canthaxanthin
• Capsanthin and paprika extract
• Lutein
• Lycopene
• Zeaxanthin

The report starts with a synopsis of the current carotenoid market, and goes on to show, in quantitative figures, the relevance of different production systems, application segments, regional distribution, and dominating players.  

Before entering into the product sections, a separate chapter comprehensively discusses the different modes of carotenoid production, contrasting chemical synthesis, fermentation systems, and extraction from botanical sources.  A general outline on the current trends in the major application sectors of carotenoids, food, feed, and nutritional supplements, leads to the product sections that discuss markets and market trends of each carotenoid separately and in detail.  In each case, product identities are given, typical data sheets of commercial formulations are provided, and the current regulatory status in the major markets is reviewed.  The long time series of consumption data allow the identification of trends and particularly the determination of the position of the product at the sigmoid life cycle curve.  Similarly long price series allow the analysis of trends and of inflexion points.  The chapter on marketing strategies and market shares of major players concludes the overview on the current situation, and leads to the forecast of future trends, prices, consumption, and market values in 2018. 

The methodology that is applied in this report is based on both an analysis of the manufacturing industry and of the user community.  The user community is composed of companies active in the typical application segments of food, feed, and supplements and, to a smaller extent, cosmetics.  Application trends over the past years are identified and company strategies and behavior analyzed.  Insight into usage patterns are provided, leading to preliminary estimates on quantities used and of market values of specific products.  Such supplemented and adjusted information is crosschecked with production data from manufacturers.  The detailed analyses of manufacturing patterns also provide information on formulation trends and on how products are marketed.  Considering framework conditions that affect future demand, estimates on developments in specific carotenoids are provided, leading to forecasts up through 2018. 

Analyst Credentials

Dr. Ulrich März graduated in 1984 as an agro-economist from the University of Stuttgart, Germany.  After 10 years working in the fine chemical industry, Dr. März started an independent consulting business for the food, feed, and agro-processing industry.  His specialities are the evaluation of the food, feed, and supplement ingredient markets, the design and market introduction of biotechnologically derived products as well as the economics of fermentation processes.  For more than a decade, Dr. März has authored a number of BCC technical market reports.