Carotenoids Market Set to Surge Beyond $3.6 Billion by 2030 – Key Growth Drivers Revealed
The carotenoids market has been steadily gaining momentum, driven by increasing demand across various industries like food, beverages, dietary supplements, cosmetics, and pharmaceuticals. As of 2023, the global carotenoids market was valued at USD 2.2 billion, and projections indicate it will surpass USD 3.6 billion by 2030. This impressive growth corresponds to a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. In this article, we will explore the driving factors behind this surge, the key players, and what lies ahead for the carotenoids industry. What Are Carotenoids? Carotenoids are naturally occurring pigments that give fruits, vegetables, and some animal products their vibrant red, orange, and yellow colors. These pigments not only enhance the appearance of food products but also offer a range of health benefits. There are over 600 different types of carotenoids, and they are essential for human health, mainly due to their antioxidant properties. Common carotenoid