The Global Market for Carotenoids

The global carotenoid market value was $1.5 billion in 2014. This market is expected to reach nearly $1.8 billion in 2019, with a compound annual growth rate (CAGR) of 3.9%.

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%.

• The global market for carotenoids was $766 million in 2007. This is expected to increase to $919 million by 2015, a compound annual growth rate (CAGR) of 2.3%.
• Beta-carotene has the largest share of the market. Valued at $247 million in 2007, this segment is expected to be worth $285 million by 2015, a CAGR of 1.8%.
• Most carotenoids are still produced by chemical synthesis and will remain so over the study period.

• The current worldwide market value of all commercially-used carotenoids is estimated at $887 million for 2004 and expected to rise at an average annual growth rate (AAGR) of 2.9% to just over $1 billion.
• The largest outlet will remain feed, mainly because of the outstanding importance of astaxanthin and canthaxanthin.
• The market value of beta-carotene was estimated at $242 million in 2004. Increasing competition from Asia has resulted in price pressure that will result in a very moderate 2.9% AAGR through 2009. Food still is the most important outlet, where it is widely used as a color.
• The big marketing success of recent years is lutein when it was demonstrated that it could help reduce age-related macular degeneration. This pushed lutein’s market value up to $139 million in 2004.

• The global carotenoid market is estimated to be $786 million, out of which food applications account for $209 million, feed applications for $462 million and pharmaceutical and OTC applications for $115 million.
• The most important types of carotenoids are astaxanthin, with 28% of total sales, and b-carotene with a similar share. The third largest carotenoid is canthaxantin, with 19% of total sales. All other carotenoids show sales volumes in the range of $10 million to $80 million.
• The global carotenoid market is supposed to increase to over $900 million in 2005. It is expected that the use of carotenoids will grow in all application segments, but mostly in the OTC sector as these products are among the most prominent for health conscious consumers.