Market Overview

Canthaxanthin Market revenue will see 2.2% CAGR to overtake $85 million by 2024

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Canthaxanthin Market revenue will see 2.2% CAGR to overtake $85 million by 2024

North America canthaxanthin market will grow significantly, exhibiting over 3% CAGR from 2018 to 2024, pushed by substantial demand for dietary supplements and rising consumer awareness regarding the product benefits coupled with flourishing cosmetics industry

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SELLBYVILLE, Del., August 15, 2018 /PRNewswire-iReach/ -- Global Canthaxanthin Market revenue is poised to beat USD 85 million by 2024; according to a new research report by Global Market Insights, Inc. Canthaxanthin market growth is the result of efforts made by various organization in the previous decades. Joint FAO/WHO Expert Committee on Food Additives (JECFA) studied and evaluated the safety intake of the product and effect on the human body in 1995. The committee allocated Acceptable Daily Intake (ADI) was 0-0.03 mg/kg of human body weight. In 2000, JECFA also evaluated indirect intake of canthaxanthin into consideration owing to excess usage in animal and poultry feed additives for pigmentation purpose.

Personal care applications will witness highest growth potential in the next six years. The growth is mainly driven by increasing consumer spending on personal care and cosmetic products. Strong outlook for canthaxanthin in cosmetic products for skin tone enhancement will support the industry growth. Moreover, canthaxanthin uses in combination with other carotenoids for cosmetic applications will provide positive outlook for industry demand.

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Extensive usage in animal feed applications along with rising demand from personal care & cosmetic products will primarily drive the industry growth over the forecast timeframe. The product is highly used for colour enhancement in egg yolks, salmon, trout, chicken and others. Moreover, it is increasingly being adopted for treating various problems in human beings such as rashes and itching caused due to sun exposure, owing to its medicinal properties. The customers are continuously shifting towards the consumption of quality meat and dairy products, further positively impacting the canthaxanthin market over the next six years.

Natural and synthetic are the two sources through which canthaxanthin is extracted and produced for commercial applications. Synthetically sourced products dominated the overall industry owing to its early adoption and cost-effective production procedure. Natural sourced product's ingredients include mushrooms, seaweed, microorganisms and so on. The product is gaining popularity due to increasing consumer consciousness. However, lack of colour standardization and usage in a large quantity are major factors limiting product adoption as compared to its counterpart.

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Dietary supplements dominated the industry share with 36.7% of the global canthaxanthin market in 2017. Rising demand from applications such as dietary supplements, particularly from the elderly population across the globe will drive the industry growth. They are the prominent users of preventive medications, thereby improving the product sales. Moreover, surging carotenoids industry owing to their health benefits will enhance visibility of the product.

Pharmaceutical applications will witness highest ability to capture owing to its relatively smaller market in 2017. Increasing product adoption in pharmaceutical applications due to its notable antioxidant properties will propel the industry growth. In addition, product innovations in drugs for treatment of various skin diseases will support the industry demand. For instance, canthaxanthin has been widely used in tanning pills.

Browse key industry insights spread across 270 pages with 431 market data tables & 20 figures & charts from the report, "Canthaxanthin Market" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/canthaxanthin-market

Chapter 2.   Executive Summary

2.1. Canthaxanthin industry 3600 synopsis, 2013 - 2024

2.1.1.  Business trends

2.1.2.  Application trends

2.1.3.  Source trends

2.1.4.  Regional trends

Chapter 3.   Canthaxanthin Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.  Profit margin analysis

3.3.2.  Distribution channel analysis

3.3.3.  Vendor matrix

3.4. Technology landscape

3.4.1.  Production process

3.5. Regulatory landscape

3.5.1.  U.S.

3.5.2.  Europe

3.5.3.  India

3.5.4.  China

3.5.5.  UAE

3.6. Pricing analysis, by region

3.6.1.1.    NA

3.6.1.2.    Europe

3.6.1.3.    APAC

3.6.1.4.    LATAM

3.6.1.5.    MEA

3.6.2.  Cost structure analysis

3.7. Raw material supply trends & prices

3.8. Industry impact forces

3.8.1.  Growth drivers

3.8.1.1.    North America: Growing consumer focus on dietary supplements

3.8.1.2.    Europe: Shifting consumer preference for natural and sustainable colorants

3.8.1.3.    Asia Pacific: Expansion in feed additives market and growth in aquaculture industry

3.8.1.4.    LATAM: Potential applications in personal care and food & beverage industry

3.8.1.5.    MEA: Nutritional significance of canthaxanthin as antioxidants and pigmentation agent

3.8.2.  Industry pitfalls & challenges

3.9. Potential customers for pet &animal feed applications

3.10.   Innovation & sustainability

3.11.   Growth potential analysis, 2017

3.12.   Competitive landscape, 2016

3.12.1.  Market share analysis, 2017

3.12.2.  Top players overview

3.12.3.  Brand analysis

3.12.4.  Key stakeholders

3.12.5.  Strategy dashboard

3.13.    Porter's analysis

3.14.   PESTEL analysis

Chapter 4.   Canthaxanthin Market, By Source

4.1. Global Canthaxanthin market share by source, 2017 & 2024

4.2. Synthetic

4.2.1.  Market estimates and forecast, 2013-2024

4.2.2.  Market estimates and forecast, by region, 2013-2024

4.3. Natural

4.3.1.  Market estimates and forecast, 2013-2024

4.3.2.  Market estimates and forecast, by region, 2013-2024

Chapter 5.   Canthaxanthin Market, By Application

5.1. Global Canthaxanthin market share by Application, 2017 & 2024

5.2. Dietary supplement

5.2.1.  Market estimates and forecast, 2013-2024

5.2.2.  Market estimates and forecast, by region, 2013-2024

5.3. Personal care

5.3.1.  Market estimates and forecast, 2013-2024

5.3.2.  Market estimates and forecast, by region, 2013-2024

5.4. Pharmaceuticals

5.4.1.  Market estimates and forecast, 2013-2024

5.4.2.  Market estimates and forecast, by region, 2013-2024

5.5. Food & beverage

5.5.1.  Market estimates and forecast, 2013-2024

5.5.2.  Market estimates and forecast, by region, 2013-2024

5.6. Animal feed

5.6.1.  Market estimates and forecast, 2013-2024

5.6.2.  Market estimates and forecast, by region, 2013-2024

5.6.3.  Aquaculture

5.6.3.1.    Market estimates and forecast, 2013-2024

5.6.3.2.    Market estimates and forecast, by region, 2013-2024

5.6.4.  Livestock

5.6.4.1.    Market estimates and forecast, 2013-2024

5.6.4.2.    Market estimates and forecast, by region, 2013-2024

5.6.5.  Pets

5.6.5.1.    Market estimates and forecast, 2013-2024

5.6.5.2.    Market estimates and forecast, by region, 2013-2024

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, jignesh.t@gminsights.com

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SOURCE Global Market Insights

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