Asia Pacific Carotenoids Market

Asia Pacific Carotenoids Market Size (2024 to 2032)

Asia Pacific Carotenoids Market size was estimated at USD 0.40 billion in 2024 and is projected to reach USD 0.61 billion by 2032, at a CAGR of 5.25% during the forecast period from 2024 to 2032. The Carotenoids market is showcasing significant potential in the mentioned forecast period. The market continues to build up momentum with the growing demand of carotenoids obtained from natural sources.

Carotenoids are class of plant pigments responsible for the bright red, orange and yellow hues in various fruits and vegetables. These are also important for maintenance of a plant’s health as well as human health on consumption of these fruits and vegetables. They assist plants in the process of photosynthesis by helping them in absorbing light energy and are thus the reason behind the colour of plants or the fruits & vegetables. They also act as antioxidants in plants as well as human body.

Market Drivers

The increase in the demand for natural colorants have been driving the growth of the market of carotenoids over the recent years. Other key factors driving the market growth include industrialization in sectors like pork, expanding end user applications, poultry and aquaculture, preventive nutraceuticals and healthcare.

Market Restraints

The market has also been facing some challenges and restraints. These include lack of R&D in remote regions, harmful effects of high dose of carotenoids, and stringent government approval norms and regulations. These factors have been holding the market back from reaching its full potential, and are required to be dealt with.

Segmental Analysis

Asia Pacific Carotenoids Market By Source

• Synthetic
• Natural

Asia Pacific Carotenoids Market By Application

• Supplements
• Cosmetics
• Feed
• Food

Asia Pacific Carotenoids Market By Type

• Astaxanthin
• Canthaxanthin
• Beta-Carotene
• Lycopene
• Lutein
• Zeaxanthin

Asia Pacific Carotenoids Market By Region

• India
• Japan
• China
• Australia
• Singapore
• Malaysia
• South Korea
• New Zealand
• Southeast Asia

Key Players in the Market

Major Key Players in the APAC Carotenoids Market are BASF SE, Royal DSM N.V, FMC Corporation, Chr. Hansen A/S, Cyanotech Corporation, D.D. Williamson & Co., Inc, Döhler Group, Kemin Industries Inc, Excelvite SDN, BHD, and Allied Biotech Corporation