Global carotenoids market industry promises colourful beginnings for growth with a notable 4.0% CAGR

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The global carotenoids market continues to remain the back engine for growth in the food and beverage sector. The rising disposable income in emerging countries, and growing adoption of carotenoids in malls, retail stores, amidst rising urbanization continues to be a major draw for players in the global carotenoids market. Additionally, increased product innovations, and rising demand for more natural substances, continues to promise new directions for growth for players in the global carotenoids market.

The application for carotenoids remained high in conventional fruits and vegetables. However, increasing manufacturers of food products are also using carotenoids in order to meet the rising demand for natural foods. The lack of awareness regarding natural products for a largely urban population plays in their favour, as demand for natural products, continues to meet with colourful, and vibrant products which are enriching, and appealing to consumer tastes.

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Among regions, the global carotenoids market is expected to witness highest growth in Asia Pacific. The large population in the region, increasing disposable income, and rising influx of mall-friendly shopping culture remains a prominent driver of carotenoids market. The carotenoids market is also expected to witness major growth in North America, and Europe, as the natural ingredients that are used in carotenoids remain outside the ambit of regulations, and growth in North America, remains a promising prospect for players in the global carotenoids market.

Treatment of Chronic Illnesses Emerges as a New Application

The global carotenoids market is witnessing expansion of applications as new opportunities like medical treatment of chronic illnesses makes its way on the horizon. Recent studies have shown a promise of application of carotenoids in several cancer therapies. Additionally, FDA has taken more positive approach towards cancer treatments, as the illnesses continues to plague millions of individuals, without a real way-out. Hence, the therapies can provide temporary relief, and can help individuals keep their financial and social commitments, despite the severe medical strain. The promising application of carotenoids in the treatment of chronic diseases will boost growth for the carotenoids market in near future.

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Growing Demand for Natural Food Variety Remains a Promising Draw

Rising demand for natural food variety promises new opportunities for players in the global carotenoids market. The agricultural varieties of carotenoids are increasingly appealing to consumers who are health conscious and this group of consumers is on the rise. Major companies in beverage products, fast-food chains like Burger King have adopted brand to cater to the needs of more natural varieties of meat. The growing demand for carotenoids, and their increasing use for bringing in natural variety to processed foods are expected to remain key drivers for growth.

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The global carotenoids market is segmented by:

Source

• Natural
• Synthetic
• Fruits and Vegetables
• Algae and Fungi

Application

• Human Food
• Animal Feed
• Aqua Feed
• Dietary Supplements
• Pharmaceuticals

Region

• North America
• Europe
• Latin America
• Asia Pacific
• The Middle East

TMR has followed the C19-TREND approach for conducting a comprehensive analysis on the trends and changes in the food and beverage sector due to the COVID-19 outbreak. Each factor is analyzed with scrutiny. These points have been compiled in the report and will assure great assistance to the stakeholders and CXOs in developing sound business strategies.

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