Carotenoids Market to Grow at a CAGR of 3.77% from 2025 to 2032; Growing Health and Safety Consciousness to Boost Market Growth

The global carotenoids market size was valued at USD 1,662.26 million in 2024. The market is projected to grow from USD 1,718.28 million in 2025 to USD 2,227.76 million by 2032, exhibiting a CAGR of 3.77% during the forecast period.

Fortune Business Insights™ presents this information in its report titled “Carotenoids Market Size, Share & Industry Analysis, By Type (Astaxanthin, Beta-carotene, Lutein, Zeaxanthin, Lycopene, Canthaxanthin, and Others), By Source (Synthetic and Natural), By Form (Liquid, Powder, and Beadlet), By Application (Animal Feed, Food & Beverages, Dietary Supplements, Personal Care & Cosmetics, and Pharmaceuticals), and Regional Forecast, 2025-2032”.

Naturally derived from plants and microbes, carotenoids are key pigments that make food visually appealing. Their broad use across industries fuels market growth. Beyond aesthetics, they provide health benefits, especially beta-carotene, which is endorsed by organizations such as the USDA and the U.S. National Cancer Institute for its positive impact on health and wellness. 

Divi’s Nutraceuticals Launched Apocarotenal to Impart a Light Orange to Orange-red Color in the Products

In June 2024, Divi’s Nutraceuticals introduced Apocarotenal, an innovative colorant that adds vibrant light orange to orange-red shades to food and beverages at IFT 2024. Now available in diverse formats to suit a range of applications. 

Growing Demand for Natural Compounds in Skincare Products to Drive Market Growth

Rising awareness of health and safety is fueling demand for natural carotenoids over synthetic additives. Regulatory restrictions on harmful chemicals in feed and cosmetics are accelerating this shift. Consumers are opting for clean-label and plant-based products with proven benefits. A notable example is Peach & Lily’s beta-carotene-infused eye cream, showcasing how carotenoids are gaining popularity in the beauty industry.

However, a high price gap between synthetic carotenoids and natural products is likely to hinder the carotenoids market growth.

Industry Participants Focus on Partnerships to Strengthen their Positions

Competition in the carotenoids market is intensifying from private firms in countries such as China and India. Industry leaders are adopting strategies such as acquisitions and partnerships to strengthen their positions. Demand for higher bioavailable, targeted carotenoid products is growing. Companies such as Kemin Industries are responding with innovation and expanded R&D efforts in natural solutions.

List of Key Players Mentioned in the Report

• Allied Biotech Corporation (Germany)
• Algatech Ltd. (Israel)
• BASF SE (Germany)
• Kemin Industries (U.S.)
• Chr. Hansen Holdings A/S (Denmark)
• Givaudan (Switzerland)
• DOHLER GmbH (Germany)
• FMC Corporation (U.S.)
• Novus International Inc. (U.S.)
• Sensient Technologies (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/carotenoids-market-100180

Key Industry Development

• March 2023- Symrise expanded its Diana food bioactives portfolio with a new carotenoid range designed for beauty-from-within solutions. Targeting skin conditioning, anti-aging, and skin brightening, the ingredients also cater to hair and nail care formulations. 

Further Report Findings

• With a 2024 market value of USD 61 million 2024, Europe is poised to capture the key carotenoids market share. The region benefits from a robust animal feed industry and a mature cosmetics sector. Additionally, the product is widely accepted as a natural food colorant, further strengthening its demand across European markets.  
• North America’s focus on food safety, sustainability, and clean-label products is accelerating demand for natural carotenoids. U.S. consumers, in particular, prefer non-GMO ingredients with clear labeling and low environmental impact. Carotenoid-based supplements have gained popularity, and skincare products have gained popularity for their health-enhancing properties, strengthening their presence in the regional market.
• The market in South America is gaining momentum, driven by rapid growth in the animal feed sector. The soaring need for specialty feed further supports this rise. Leading producers in Brazil and Chile are playing a key role, enhancing regional capacity and market reach.
• On the basis of source, the synthetic segment takes the lead in the market due to its low cost and ease of extraction, and the easy accessibility of carotenoids obtained from synthetic sources.

Table of Segmentation