Insights into the carotenoids pigment market reveal its significant role in the global food and beverage industries. The market is anticipated to reach approximately USD 539 million by 2022, with a projected CAGR of 5.5% from 2022 to 2032. Carotenoids pigments represented about 33.28% of the global natural pigment market sales, which was valued at USD 1.6 billion in 2021.

Carotenoids, known for their pharmaceutical properties, are extensively used as food colorants in culinary practices. These pigments can be sourced from both plants and animals, including pumpkins, carrots, parsnips, corn, tomatoes, canaries, flamingos, salmon, lobster, shrimp, and daffodils.

The absorption of carotenoids in the human diet is enhanced when consumed with dietary fats. Cooking carotenoid-rich vegetables in oil and shredding them can further improve their bioavailability. This makes the extraction and use of natural carotenoid colors in foods and beverages highly practical.

The increasing shift towards organic diets has significantly boosted the use of carotenoid food colors in the food processing industry. Additionally, growing health consciousness during the pandemic has driven consumers globally to seek out natural food colorants, such as carotenoids, for their meals.

Key Takeaways from Market Report

• The overall natural food colors market is expected to expand at CAGRs of 6.5% and 6.1% in North America and Latin America, respectively, through 2032, while the carotenoids food colors market is anticipated to grow at a rate of 5.8% and 6% in these regions respectively.
• The European carotenoids food colors market is currently pegged at 700 metric tons by volume and USD 160 mn by value. The demand for carotenoid Food Colors is about to grow at 9% CAGR between 2022 and 2032 in this region.
• In 2021, the Asia Pacific market had a market share of 23.4% in the global carotenoids food colors market. It is anticipated to register over 6% CAGR through 2032 due to the rising occurrence of chronic diseases and the growing awareness among people of the advantages of carotenoids.
• Although by application, the beverages industry holds command over the highest market share of 20%, the pet food segment for carotenoids consumption is set to expand at a CAGR of 2%.
• Growing consumer preference for organic, healthy, and nutritious food products is the main driver for sales of carotenoid food colors across global markets.

Competitive Landscape

The market is consolidated and dominated by major players. Carotenoids food colorant producers are majorly cost-cutting procedures in order to make carotenoids food colors affordable for the food processing industry. These manufacturers also participate in various collaborations with leading food brands around the world to increase the reach of their products.

Major market players operating in the carotenoid extract market are Divis Laboratories, Allied Biotech Corporation, D.D. Williamson & Co. Inc., Sensient Technology Corporation, Chr. Hansen Holding A/S, Lycored, Kemin Industries Inc, Cyanotech Corporation, Kalsec Inc, Fiorio Colori, FMC Corporation, WILD Flavors, Naturex S.A., and a few other regional players.

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Carotenoids Pigment Market by Category

By Product, the Carotenoids Pigment market is segmented as:

• Astaxanthin
• Beta-carotene
• Lutein
• Lycopene
• Canthaxanthin
• Zeaxanthin
• Other types (capsanthin, annatto, alpha-carotene, apocarotenal, etc.)

By Application, the Carotenoids Pigment market is segmented as:

• Bakery & Confectionery Products
• Beverages
• Fruit Preparations/ Fillings
• Dairy Food Products
• Potatoes, Pasta, and Rice
• Soups, Sauces, and Dressings
• Meat, Poultry, Fish, and Eggs
• Seasonings
• Others

By Region, the Carotenoids Pigment market is segmented as:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia), Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa), India
• Asia-Pacific (China, Japan, South Korea, Thailand, Malaysia, Vietnam, Indonesia, Oceania (Australia, New Zealand))