(EMAILWIRE.COM, January 27, 2018 ) According to the report “Middle East and Africa Carotenoids Market by Source (Synthetic and Natural), by Type (Astaxanthin, Beta-Carotene, Canthaxanthin, Lutein, Lycopene, and Zeaxanthin), by Application (Supplements, Feed, Cosmetics, and Food), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” the Middle East and Africa Carotenoids market is estimated to reach USD 0.12 billion by 2021 from a market value of USD 0.1 billion in 2016 at a CAGR of 3.22%.
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The MEA Carotenoids market is showcasing significant potential over the mentioned forecast period. The market continues to build up momentum with the ever rising demand of the people for naturally obtained carotenoids.
Carotenoids are class of plant pigments responsible for the bright red, orange and yellow hues in various fruits and vegetables. These are also important for maintenance of a plant’s health as well as human health on consumption of these fruits and vegetables. They assist plants in the process of photosynthesis by helping them in absorbing light energy and are thus the reason behind the colour of plants or the fruits & vegetables. They also act as antioxidants in plants as well as human body.
The increase in the demand for natural colorants has been the major reason for the growth of the market of carotenoids over the recent years. Other key factors driving the market growth are expanding end user applications, preventive healthcare and nutraceuticals, industrialization in sectors like poultry, pork, and aquaculture. The market has also been facing some challenges & restraints. These include lack of R&D in remote regions, harmful effects of high dose of carotenoids, as well as stringent government regulations and approval norms. These factors are responsible for holding the market back from its full potential, and are needed to be dealt with.
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The Middle East & Africa Carotenoids Market is segmented based on type, application and source. The market is segmented on the basis of type under Beta-Carotene, Astaxanthin, Canthaxanthin, Lutein, Zeaxanthin and Lycopene. On the basis of source the market is divided into Synthetic and Natural. Based on application, the segmentation is done under Supplements, Food, Feed, Cosmetics. On the basis of geography, the Middle East & Africa market is analysed under various regions namely Middle East and Africa.
The major companies showing interest in the market lately include Royal DSM N.V., BASF SE, Chr. Hansen A/S, Cyanotech Corporation, FMC Corporation, Kemin Industries Inc., Inc., Döhler Group, D.D. Williamson & Co., Excelvite SDN. BHD, Allied Biotech Corporation.
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