The Europe Carotenoids Market was worth US$ xx million in 2022, and it is estimated that it will reach a valuation of US$ xx million by 2028 with a notable compound annual growth rate between 2023 and 2028.
Carotenoids are plant pigments that appear in red, yellow, and orange in many fruits and vegetables. In addition, people who consume foods containing carotenoids benefit from health protection. They can assemble into fats and other basic organic metabolic components of these organisms. Carotenoids act as antioxidants in the body to protect against cell damage, the effects of aging, and some chronic diseases. Carotenoids are responsible for the characteristic colors of corn, canaries, carrots, egg yolks, daffodils, parsley, parsley, kohlrabi, and banana. Carotenoids are produced by algae, bacteria, plants, and fungi. Plants are the main source of carotenoids among manufacturers. Papaya, apricots, pineapples, peaches, oranges, squash, carrots, and corn are the main botanical sources of carotenoids. The consumption of carotenoids has increased during the last decade.
The increasing demand for healthy and natural foods, along with the consumption of supplements as health problems increase, will stimulate the growth of Europe carotenoids market.
The increasing prevalence of eye diseases and cancer has led to an increase in the demand for carotenoids in the food and beverage industry. As the need for prevention of various diseases increases, sales of functional foods remain high. In order to provide healthy foods with biologically active food ingredients, manufacturers have witnessed a significant demand for carotenoids around the world. Carotenoids also continue to be in significant demand in the cosmetic industry due to the increased properties of vitamin A. These factors are expected to influence the growth of the Europe carotenoids market during the forecast period. Therefore, the European market for carotenoids is accelerating as the demand for functional foods increases. In addition, consumers are looking for foods that provide vitamins and help strengthen cells. The most common health problem older people face is poor vision. Astaxanthin is gaining attention in the cosmetic industry due to its UV and anti-aging properties. Therefore, as the demand for dietary supplements increases, so does the demand for carotenoids such as astaxanthin, which are beneficial for the eyes. Also, the use of carotenoids in the treatment of various skin diseases is increasing recently. As the demand for organic cosmetics increases, the demand for carotenoids increases. Additionally, the growing demand for natural colorants in the food, beverage and cosmetic processing industries is expected to open up new avenues for carotenoid manufacturers. This led to higher consumption of carotenoids in human foods, driving market growth. Consuming more carotenoids helps your body rejuvenate by promoting healthy cell growth and preventing unhealthy cell growth. The high demand for carotenoids in the food and beverage and cosmetics industry will drive the growth of the Europe carotenoids market.
The high utilization of beta-carotene, astaxanthin, canthaxanthin, lycopene, and lutein in various industrial applications will promote healthy market growth. Greater approval of innovative pigments by regulatory agencies will promote market growth. Demand for fortified and functional foods is increasing as customers seek ingredients that address specific health concerns, such as enhancing immunity, improving digestive health, and enhancing memory. This is expected to drive market growth by increasing demand for Europe carotenoids market. Increasing consumer awareness of the health benefits of carotenoid consumption will increase market demand. Changes in consumer preference for ingredients that support health functions, such as bone density and immunity, will provide new avenues for product penetration. The spread of lifestyle and premature aging issues in today's generation is encouraging customers to consume naturally sourced food ingredients. Increased R&D for the development of high value-added natural carotenoids is expected to create new growth opportunities for the Europe carotenoids market.
Strict regulations on the use of carotenoids against pollution, the threat of human food, and the high cost of natural carotenoids compared to synthetic carotenoids are expected to hamper the European market growth. High unregulated utilization and associated health risks are factors that are expected to challenge future demand for carotenoids in the European market.
By type, the lutein segment in Europe carotenoids market is expected to grow at the highest CAGR in value during the forecast period. Lutein is synthesized by plants and is found in major foods such as carrots, egg yolks, kale, spinach, grapes, squash, and bell peppers. It is used in human and animal nutrition products. Wide acceptance due to its ability to treat age-related eye diseases, including cataracts and macular degeneration, is a key factor driving demand.
Depending on the application in Europe carotenoids market, the animal feed segment is expected to occupy the largest market share in 2020. Carotenoids are widely used in animal nutrition products due to their coloring properties and are included in feed to color fish, skin of broilers, egg yolks, and crustaceans. They also improve the quality of nutrition, helping to increase immunity and improve the health of livestock. Fertility in pigs, cattle and horses can be improved by feeding beta-carotene, while astaxanthin and canthaxanthin help improve the growth of salmon and larvae.
Based on the source, the Europe carotenoids market is bifurcated into natural and synthetic. The increasing consumer awareness is estimated to expand the demand for natural segment in the coming days.
Geographically the Europe Carotenoids Market is segmented into UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe. Europe has been the largest market and is expected to see steady revenue growth at an annual average of 3.8% from 2020 to 2025 as the demand for feed and dietary supplements increases. The production of nutritional supplements is very high in European countries, especially in the United Kingdom, Germany, France and Western European countries. The high consumption of dietary supplements in several European nations is foreseen to promote the regional carotenoid market over the outlook period.
Key Players in the Market:
Major Key Players in the Europe Carotenoids Market are
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