Carotenoids Market By Size, Share, Trends, Growth and Forecast 2030

Report Description

Forecast Period	2026-2030
Market Size (2024)	USD 1.80 Billion
CAGR (2025-2030)	4.68%
Fastest Growing Segment	Synthetic Carotenoids
Largest Market	North America
Market Size (2030)	USD 2.37 Billion

Market Overview

The Global Carotenoids Market, valued at USD 1.80 Billion in 2024, is projected to experience a CAGR of 4.68% to reach USD 2.37 Billion by 2030. Carotenoids are organic pigments, primarily yellow, orange, or red, produced by plants, algae, and certain microorganisms, acting as accessory pigments in photosynthesis and photoprotection, with some serving as Vitamin A precursors. Main market drivers include the rising consumer demand for natural and clean-label ingredients across diverse industries and increasing health consciousness, which fuels the adoption of carotenoids in nutraceuticals and functional foods due to their antioxidant properties and health benefits. According to Germany Trade & Invest, the non-alcoholic beverage segment in Germany achieved USD 5.2 billion in 2023, showcasing a consumer shift towards healthier options that increasingly integrate natural colorants such as carotenoids.

Additionally, expanding applications in animal feed for pigmentation and in cosmetics for anti-aging benefits further propel the market. Nevertheless, a significant challenge for market expansion involves the substantial price differential between natural and synthetic carotenoids, compounded by the inherent low water solubility and stability of natural variants.

Key Market Drivers

Increasing consumer health and wellness awareness profoundly influences the global carotenoids market, as individuals actively seek functional ingredients with scientifically supported health benefits. This trend drives demand for products supporting eye health, immune function, and antioxidant protection. According to the American Botanical Council's 2024 Herb Market Report, retail sales of herbal dietary supplements in the United States reached a record $13.231 billion in 2024, demonstrating robust consumer investment in health-focused products. This directly fuels carotenoid adoption in dietary supplements and functional foods. Strategic industry investments also reflect this broader nutritional demand; according to AgTech Navigator, in January 2025, BASF announced a low-double-digit million-euro investment to achieve a 10% increase in annual vitamin E acetate production capacity by 2027 at its Ludwigshafen site, reflecting expansion by a key player that also produces carotenoids.

Concurrently, the rising demand for natural and clean-label ingredients serves as another pivotal driver. Consumers increasingly scrutinize labels, prioritizing ingredients perceived as less processed, free from artificial additives, and derived from natural sources. This preference creates significant opportunities for natural carotenoids as alternatives to synthetic colorants and functional additives across diverse food, beverage, and cosmetic applications. The shift towards clearly understood natural ingredients is evident in European markets; according to CBI, in August 2025, Spain's organic market grew by 6.2% between 2022 and 2023, reaching a total value of 3 billion euros in 2023, underscoring the increasing consumer preference for natural food products. This sustained inclination towards naturalness supports continued market penetration.

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Key Market Challenges

A significant challenge for the Global Carotenoids Market stems from the substantial price differential between natural and synthetic carotenoids. This economic disparity often overrides the increasing consumer preference for natural and clean-label ingredients, particularly in cost-sensitive industrial applications. Manufacturers, driven by profitability and competitive pricing pressures, frequently opt for more economical synthetic alternatives where regulations permit.

This cost sensitivity directly hampers the broader adoption of natural carotenoids, even as demand for their health benefits and natural origins rises. For instance, in the animal feed sector, a major end-user for carotenoids, costs play a critical role. According to the European Feed Manufacturers' Federation (FEFAC), animal feed expenditures constituted up to 50% of the farm gate value for poultry, 55% for pigs, and 17% for cattle in 2023, underscoring the severe financial constraints faced by producers. This high proportion of feed costs makes any price premium for natural ingredients, such as natural carotenoids, a significant barrier to their widespread integration, consequently limiting the overall growth potential of the natural carotenoids market segment.

Key Market Trends

Two significant trends are currently shaping the global carotenoids market, demonstrating shifts in both production methodologies and application scope.

Advancements in Sustainable Carotenoid Extraction and Biosynthesis Technologies are profoundly influencing the market by offering eco-friendly and efficient production alternatives. This trend encompasses innovative methods like microbial fermentation and algae cultivation, which reduce reliance on traditional chemical synthesis and resource-intensive plant extraction. According to the Good Food Institute (GFI), investment in fermentation technologies for alternative proteins, a category that includes sustainably produced ingredients like carotenoids, reached $572 million in 2024, an increase from $443 million in 2023. This substantial financial commitment underscores the industry's focus on these advanced biomanufacturing processes. For instance, in March 2023, NovoNutrients, a leader in sustainable protein solutions, announced an innovation in carotenoid production technology utilizing carbon dioxide and renewable energy through gas fermentation, with plans to scale production to metric ton quantities. These technological strides are critical for meeting the escalating demand for natural carotenoids while adhering to environmental sustainability goals.

The Diversification of Carotenoid Applications in Pharmaceutical and Therapeutic Areas represents another pivotal trend, expanding carotenoids beyond traditional uses in food, feed, and cosmetics. As research uncovers the broader health benefits of various carotenoid types, their integration into specialized medical and therapeutic formulations is growing. EuropaBio, as Europe's largest biotechnology industry group, works to enhance competitiveness and resilience through biotechnology innovation applied across industrial sectors. It supported the European Commission's 2024 "Biotechnology and Biomanufacturing Initiative", which recognizes Europe's need for a future-looking framework for biotechnology. This highlights the industrial and policy focus on the broader technological landscape that supports advanced applications of bio-based compounds, including carotenoids, in new areas like pharmaceuticals. A randomized, double-blind, placebo-controlled study published in *Adv Ther* in April 2024 demonstrated that lutein and zeaxanthin supplementation improved dynamic visual and cognitive performance in children, showcasing their therapeutic potential beyond general nutritional support. This expanding evidence base is driving pharmaceutical companies to explore carotenoids for their antioxidant, anti-inflammatory, and neuroprotective properties in targeted health solutions.

Segmental Insights

The synthetic carotenoids segment holds a dominant position and is experiencing robust growth within the global carotenoids market. This strong expansion is primarily driven by several key factors including their cost-effectiveness, ease of extraction, and ability to ensure consistent quality and performance in various applications. Synthetic carotenoids offer manufacturers significant economic advantages over natural alternatives, making them highly attractive for large-scale industrial use. Furthermore, their reproducible characteristics in color and performance enable formulation consistency across diverse sectors such as food and beverage, animal feed, and pharmaceuticals, thereby fueling their substantial market presence and ongoing development.

Regional Insights

North America leads the global carotenoids market, primarily driven by a robust consumer demand for natural ingredients and health-conscious products. This strong market position is fueled by increasing awareness regarding the nutritional and antioxidant benefits of carotenoids, particularly in dietary supplements and functional foods for overall well-being. Furthermore, stringent regulatory frameworks, established by bodies such as the U. S. Food and Drug Administration, support the use of natural colorants and safe food additives, which encourages innovation and market stability. The region also experiences substantial demand from the expanding animal feed industry, where carotenoids are crucial for enhancing pigmentation and animal health.

Recent Developments

In October 2025, BASF launched Lutavit® A/D3 1000/200 NXT, a next-generation vitamin formulation for animal nutrition that combines vitamin A and vitamin D3 in a single, microencapsulated form. This product leverages BASF's expertise in vitamin A formulation, a compound closely related to carotenoids as provitamin A sources. The introduction of this stable and bioavailable product is significant for the global carotenoids market, particularly within the animal feed application segment, by ensuring reliable supply and high-quality nutritional ingredients.

In July 2024, Lycored, a prominent company specializing in naturally derived carotenoids, unveiled its new lycopene-based colorant, ResilientRed™ BF, at the IFT FIRST event. This introduction represents a product launch aimed at expanding the availability of natural color solutions for various industries. The development of ResilientRed™ BF directly contributes to the global carotenoids market by providing an additional option for manufacturers seeking natural and effective colorants derived from carotenoid sources.

In June 2024, Divi's Nutraceuticals introduced Apocarotenal, an innovative colorant designed to impart vibrant light orange to orange-red shades in food and beverages. This new product was showcased at IFT 2024 and became available in various formats to cater to a range of applications. The launch of Apocarotenal by Divi's Nutraceuticals directly supports the global carotenoids market by expanding the offerings of natural coloring agents for the food and beverage industry, responding to consumer demand for natural ingredients.

In May 2024, OmniActive Health Technologies collaborated with the Council for Responsible Nutrition (CRN) to enhance awareness regarding the importance of carotenoids in prenatal nutrition. This partnership aimed to highlight the critical role of these compounds for maternal and fetal health. Such collaborations are instrumental in driving market demand for carotenoid-based dietary supplements and functional foods, thereby supporting the growth of the global carotenoids market by educating consumers and healthcare professionals on their benefits.

Key Market Players

Koninklijke DSM N.V.
BASF SE
Chr. Hansen A/S
Cyanotech Corporation
Allied Biotech Corporation
Kemin Industries Inc.
Fuji Chemical Industries Co., Ltd.
Novus International, Inc.
Döhler GmbH
Sensient Technologies Corporation

By Source	By Type	By Application	By Formulation	By Region
Synthetic Carotenoids Natural Carotenoids	Astaxanthin Beta-Carotene Lutein Lycopene Canthaxanthin Zeaxanthin Others	Feed Food & Beverages Dietary Supplements Cosmetics Pharmaceuticals	Beadlet Powder Oil Suspension Emulsion	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Carotenoids Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Carotenoids Market, By Source:

o Synthetic Carotenoids

o Natural Carotenoids

Carotenoids Market, By Type:

o Astaxanthin

o Beta-Carotene

o Lutein

o Lycopene

o Canthaxanthin

o Zeaxanthin

o Others

Carotenoids Market, By Application:

o Feed

o Food & Beverages

o Dietary Supplements

o Cosmetics

o Pharmaceuticals

Carotenoids Market, By Formulation:

o Beadlet

o Powder

o Oil Suspension

o Emulsion

Carotenoids Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Carotenoids Market.

Available Customizations:

Global Carotenoids Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Carotenoids Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Carotenoids Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Source (Synthetic Carotenoids, Natural Carotenoids)

5.2.2. By Type (Astaxanthin, Beta-Carotene, Lutein, Lycopene, Canthaxanthin, Zeaxanthin, Others)

5.2.3. By Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, Pharmaceuticals)

5.2.4. By Formulation (Beadlet, Powder, Oil Suspension, Emulsion)

5.2.5. By Region

5.2.6. By Company (2024)

5.3. Market Map

6. North America Carotenoids Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Source

6.2.2. By Type

6.2.3. By Application

6.2.4. By Formulation

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Carotenoids Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Source

6.3.1.2.2. By Type

6.3.1.2.3. By Application

6.3.1.2.4. By Formulation

6.3.2. Canada Carotenoids Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Source

6.3.2.2.2. By Type

6.3.2.2.3. By Application

6.3.2.2.4. By Formulation

6.3.3. Mexico Carotenoids Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Source

6.3.3.2.2. By Type

6.3.3.2.3. By Application

6.3.3.2.4. By Formulation

7. Europe Carotenoids Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Source

7.2.2. By Type

7.2.3. By Application

7.2.4. By Formulation

7.2.5. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Carotenoids Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Source

7.3.1.2.2. By Type

7.3.1.2.3. By Application

7.3.1.2.4. By Formulation

7.3.2. France Carotenoids Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Source

7.3.2.2.2. By Type

7.3.2.2.3. By Application

7.3.2.2.4. By Formulation

7.3.3. United Kingdom Carotenoids Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Source

7.3.3.2.2. By Type

7.3.3.2.3. By Application

7.3.3.2.4. By Formulation

7.3.4. Italy Carotenoids Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Source

7.3.4.2.2. By Type

7.3.4.2.3. By Application

7.3.4.2.4. By Formulation

7.3.5. Spain Carotenoids Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Source

7.3.5.2.2. By Type

7.3.5.2.3. By Application

7.3.5.2.4. By Formulation

8. Asia Pacific Carotenoids Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Source

8.2.2. By Type

8.2.3. By Application

8.2.4. By Formulation

8.2.5. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Carotenoids Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Source

8.3.1.2.2. By Type

8.3.1.2.3. By Application

8.3.1.2.4. By Formulation

8.3.2. India Carotenoids Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Source

8.3.2.2.2. By Type

8.3.2.2.3. By Application

8.3.2.2.4. By Formulation

8.3.3. Japan Carotenoids Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Source

8.3.3.2.2. By Type

8.3.3.2.3. By Application

8.3.3.2.4. By Formulation

8.3.4. South Korea Carotenoids Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Source

8.3.4.2.2. By Type

8.3.4.2.3. By Application

8.3.4.2.4. By Formulation

8.3.5. Australia Carotenoids Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Source

8.3.5.2.2. By Type

8.3.5.2.3. By Application

8.3.5.2.4. By Formulation

9. Middle East & Africa Carotenoids Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Source

9.2.2. By Type

9.2.3. By Application

9.2.4. By Formulation

9.2.5. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Carotenoids Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Source

9.3.1.2.2. By Type

9.3.1.2.3. By Application

9.3.1.2.4. By Formulation

9.3.2. UAE Carotenoids Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Source

9.3.2.2.2. By Type

9.3.2.2.3. By Application

9.3.2.2.4. By Formulation

9.3.3. South Africa Carotenoids Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Source

9.3.3.2.2. By Type

9.3.3.2.3. By Application

9.3.3.2.4. By Formulation

10. South America Carotenoids Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Source

10.2.2. By Type

10.2.3. By Application

10.2.4. By Formulation

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Carotenoids Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Source

10.3.1.2.2. By Type

10.3.1.2.3. By Application

10.3.1.2.4. By Formulation

10.3.2. Colombia Carotenoids Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Source

10.3.2.2.2. By Type

10.3.2.2.3. By Application

10.3.2.2.4. By Formulation

10.3.3. Argentina Carotenoids Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Source

10.3.3.2.2. By Type

10.3.3.2.3. By Application

10.3.3.2.4. By Formulation

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Carotenoids Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Koninklijke DSM N.V.

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. BASF SE

15.3. Chr. Hansen A/S

15.4. Cyanotech Corporation

15.5. Allied Biotech Corporation

15.6. Kemin Industries Inc.

15.7. Fuji Chemical Industries Co., Ltd.

15.8. Novus International, Inc.

15.9. Döhler GmbH

15.10. Sensient Technologies Corporation

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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