Market Analysis: Global Canthaxanthin Market

The global canthaxanthin market is anticipated to register a steady CAGR during the forecast period of 2019-2026. Various health benefits related to canthaxanthin is foreseen to fuel the market growth in the upcoming years.

Market Definition: Global Canthaxanthin Market

Canthaxanthin is a carotenoid pigment which is in red and orange colour. It primarily found in foods including fish, eggs, mushrooms as well as the pigment has also produced by chemical synthesis. Canthaxanthin is also used as food colour and feed additive it has wide applications in the cosmetic industry.  Canthaxanthin is similar to carotenes in vegetables such as carrots. It has the ability to protect the human skin against sun through its antioxidant activity.

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Market Drivers

• Flourishing cosmetic and personal care industry acts as a market driver in the forecast period
• Increasing awareness about health and personal hygiene is another factor augmenting the market growth
• Properties like antioxidant activity offered by canthaxanthin also drives the market growth
• Surging demand from various end-user industry is another factor boosting this market growth

Market Restraints

• Extensive consumption of canthaxanthin leads to multiple side effects, which is anticipated to hamper the market growth
• Stringent regulatory and approval norms to affect the market growth

Segmentation: Global Canthaxanthin Market

By Source

• Natural Canthaxanthin
•  Synthetic Canthaxanthin

By Application

• Personal Care
•  Food & Beverages
• Dietary Supplements
• Pharmaceuticals
• Animal Feed
• Others

By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Sweden
  • Poland
  • Denmark
  • Italy
  • U.K.
  • France
  • Spain
  • Netherlands
  • Belgium
  • Switzerland
  • Turkey
  • Russia
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • New Zealand
  • Vietnam
  • Australia
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Philippines
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Oman
  • Qatar
  • Kuwait
  • South Africa
  • Rest of Middle East and Africa

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Key Developments in the Market:

• In September 2010, DSM Acquired Microbia, Inc., in order to expand its product portfolio. Acquisition made by DSM will help chemical, feed, and other industries to develop sustainable products. It has developed a technology platform which enables high quality  natural carotenoids  (including β-carotene and canthaxanthin. This could create market expansion for the organic canthaxanthin
• In May 2010, Novus International acquired Europe-based IQF Group, with this acquisition Novus International expanded its product portfolio in human nutrition and addition of several products including canthaxanthin. This acquisition can  support the market growth in the forecast period

Competitive Analysis:

Global canthaxanthin market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of canthaxanthin market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors: 

Some of the key players operating in the global canthaxanthin market are DSM, BASF SE, Novepha Company Limited, Parchem fine & specialty chemicals., Guangzhou Wisdom Bio-Technology Co.,Ltd, ZMC Group of Companies, Hangzhou onicon chemical co limited, Divi’s Nutraceuticals, SIMAGCHEM, Haihang Industry Co., Ltd., AK Scientific Inc, Skyrun Industrial among others.

Research Methodology: Global Canthaxanthin Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Key Insights in the report:

• Competitive analysis of key competitors involved in the market
• Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
• Market drivers and restraints analysis along with the analysis of the market structure

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