Carotenoids are widely used in pharmaceutical sector to develop parallel treatment for various health conditions such as diabetes, cancer, eye disorder and aging. The global carotenoids market is expected to grow at a CAGR 4% during the forecast period. Cancer is said to have accounted for 8.8 million deaths in 2015 alone. Carotenoids are believed to have anti- carcinogenic properties. Thus, it can prove beneficial in treating cancer to a large extent and bring down the deaths related to cancer.
Rising Consumer Awareness to Boost Growth
Rise in consumer awareness in terms of health, sustainability, and busy lifestyle are expected to drive the global carotenoids market. An aware consumer would not think twice to pay premium price for natural products like carotenoids. Natural supplements like carotenoids provide many benefits such as improved cognitive functions, increased metabolism, healthy lifestyle, and natural cure against certain diseases. These factors are envisaged to uplift the global carotenoids market during the forecast period.
Sea food awareness also caters to the global carotenoids market growth. Awareness in consumers creates demand for quality sea food. This generates demand for inclusion of carotenoid supplements in the aqua feed to promote aquaculture. Carotenoids have high content of proteins and nutrients which will boost the sea food consumption. Thus, rising marine food awareness propels the global carotenoids market.
Avenues for Treating Vitamin A Deficiency
Carotenoids are playing a major role in developing treatment for Vitamin A deficiency. Vitamin A deficiency can cause night blindness, low immunity, and growth disorder. This has been a growing concern in all developing regions. The most affected are young children and expectant mothers .Carotenoids is assisting in preventing such deficiency, owing to the global carotenoids market proliferation.
Therefore, it is expected that all the above factors would drive the global carotenoids market to astounding growth during the forecast period. The global carotenoids market to observe a huge shift in terms of market volume and value.
Transparency Market Research exemplifies the competitive edge and distributed market of the global carotenoids market. Some of the most prominent players in the market are Fuji Chemical Industry Co. Ltd, Novus International, Nutralliance, DDW the Colour House, and Koninklijke DSM N.V. These major players in the manufacturing and product development sector are committed to introduce user friendly carotenoids. They are relentlessly working towards develop product in the form of diet supplements, extracts, powders, etc. These companies are striving towards incorporating carotenoids with other herbal products for the benefit of consumer. They are expected to develop news strategies to introduce carotenoid in cosmetic and personal care sector. Introduction of carotenoids in such sectors will allow the key players to gain the competitive edge in the global carotenoids market. Thus, the global carotenoids sector is expected to observe expansion in product portfolio and wider market penetration.
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