The Global Feed Carotenoid Market was worth $1.37 billion in 2016 and estimated to be growing at a CAGR of 3.94%
Hyderabad, India -- (SBWIRE) -- 03/14/2018 -- Carotenoids are natural pigments responsible for a few of the purple, orange, and yellow colorations of food products. Animal feed is the largest field of the application of Carotenoids specifically due to extensive use of astaxanthin and canthaxanthin in aquaculture. Carotenoids are natural pigments that are found in various plants and organisms. Those products act as antioxidants and protect the body against persistent sicknesses, cellular damage, and the effects of aging. Growing usage of this product in dietary supplements resulting from growing health issues will pressure market demand.
Carotenoids are utilized in big scale for animal feed due to their excessive nutritive value and pigmentation present in them which complements the appearance of the meat, meat products, and fish, among others in conjunction with their palatability. Carotenoids are also used in preventive healthcare and nutraceuticals. The growing experience of health consciousness and significance of exceptional of meat is also playing a huge role in the development of the global feed carotenoid market.
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The global Feed Carotenoid market was really worth $1.37 billion in 2016 and anticipated to be developing at a CAGR of 3.94%, to reach $1.66 billion by 2021.
The key factors for the industry are the prominence of Carotenoids in the treatment of diabetes, cancers, and eye ailment. Growing R&D for the improvement of high-value natural Carotenoids is expected to create new growth opportunities for the market. Additionally, growing popularity of extensive farming systems in the hen and aquaculture industry is predicted to drive the growth of the market.
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Carotenoids have nutritious properties which assist prevent cancer, diabetes, cataract, and so forth. Carotenoids are commercially available in various forms which include beta-carotene, lutein, lycopene, astaxanthin, zeaxanthin, annatto, and canthaxanthin. These products find massive utilization in human food, animal feed, nutritional supplements, prescription drugs, and cosmetics as they provide outstanding fitness advantages, which in flip fuel the market growth over the subsequent years.
The Asia Pacific and North America are the main customers accounting for around 65% of the whole market. The US is the important market and also projected to be the fastest growing region in North America. The Asia Pacific market has the best CAGR because of improvements within the Aquaculture and feed industry.
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The major shareholders of the market include BASF SE, Chr. Hansen A/S, FMC Corporation, Kemin Industries Inc., Royal DSM N.V., and Behn Meyer Group.
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