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According to the latest research, the global Canthaxanthin market size was valued at USD 89.69 million in 2022 and is expected to expand at a CAGR of 4.5% during the forecast period, reaching USD 116.8 million by 2028.
Canthaxanthin is a non-vitamin A-derived keto carotenoid with a characteristic orange-red color. Occurs naturally in many foods such as mushrooms, crustaceans, fish and eggs. Canthaxanthin available on the market is mainly produced by chemical synthesis and is used as colorants in human and animal feed products.
Under the public background of the COVID-19 crisis, the industry is being affected by COVID-19. It is currently impossible to accurately predict the degree of control of this epidemic in various countries, and it is impossible to predict whether it will function normally for long-term economic activities.
However, historical data shows that the impact of natural disasters on the macro economy is usually short-term, and the economy often shows a V-shaped trend. Affected by the disaster and market sentiment, the economic growth rate usually drops sharply in a short period of time, but as the disaster is gradually controlled, the market sentiment returns to stability, and the temporarily suppressed consumption and investment needs will be released, resulting in Economic rebound. The outbreak of the epidemic will have a significant impact on enterprises and individuals within a certain period of time, especially on small and medium-sized enterprises and low-income families. It is necessary for the government to take targeted financial and monetary measures to help all walks of life together.
Strength
Because of its color and strong antioxidant activity, canthaxanthin is widely used in the medical, pharmaceutical, cosmetic, poultry, fishery and food industries. The global egg industry, especially in Asia, has experienced accelerated growth over the past few years, leading to a proliferation of brands and market availability. The idea that golden yolks must come from healthy hens is becoming more widely accepted and as a result consumers are seeking eggs with darker yolks, while sales of canthaxanthin are also being driven.
Weakness
Media and changes in consumer awareness. Interest in canthaxanthin is waning from the discovery that its excessive use can deposit tiny crystals in the human eye, a fact that has led to undesirable media attention in the past and some pressure to restrict its use in aquafeeds.
Threat of substitutes. Alternatives to canthaxanthin include astaxanthin as well as other pigments made from natural products. Due to the similarity of application areas, substitutes will occupy the market share of canthaxanthin.
Opportunities
Emerging markets and applications. Novel application of canthaxanthin may present opportunities for industry growth.
Technology breakthroughs. Canthaxanthin products currently available on the market are mainly produced through organic chemical synthesis. However, natural canthaxanthin is more popular among consumers because it is easily absorbed and does not involve chemical processes. The increasing number of canthaxanthin-producing microbial strains being isolated and purified has led to the potential for further expansion and development of natural canthaxanthin applications. Extraction of canthaxanthin from fermentation culture bacteria has the advantages of fast reproduction rate, short production cycle, and more mature fermentation process, and it is easy to produce with high cell density. Therefore, technical breakthroughs in the production process may bring a new round of development opportunities for this product.
Region Overview:
In global comparison, a significant portion of the revenue was generated in North America (32.96% in 2022).
Company Overview:
Royal DSM N.V. is one of the major players operating in the Canthaxanthin market, holding a share of 27.67% in 2023.
Royal DSM N.V.
Royal DSM is a global science-based company, engaged in offering health, nutrition and materials. The Company's segments include Nutrition, Performance Materials, Innovation Center and Corporate Activities. Its Nutrition segment includes DSM Nutritional Products and DSM Food Specialties.
BASF SE
BASF SE is a Germany-based chemical company. The Company operates through six segments, which include Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions.
Segmentation Overview:
By type, Synthetic Canthaxanthin segment accounted for the largest share of market in 2022.
Application Overview:
In the Canthaxanthin market, 39.54% of the total value was generated through the Feed segment by application in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Canthaxanthin industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Canthaxanthin. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Canthaxanthin Market Report Include:
Market Size Estimates: Canthaxanthin market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Canthaxanthin market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Canthaxanthin market
Segment Market Analysis: Canthaxanthin market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Canthaxanthin market situations and prospects in major and top regions and countries
Canthaxanthin Market
Canthaxanthin Industry Chain: Canthaxanthin market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Canthaxanthin Industry News, Policies by regions
Canthaxanthin Industry Porters Five Forces Analysis
Key players in the global Canthaxanthin market are covered in Chapter 2:
Novepha Company Limited
Allied Biotech Corporation
Divi’s Nutraceutical
Guangzhou Wisdom Bio-Technology Co., Ltd
Zipont Chem Tech Co., Ltd
ZMC
BASF SE
Royal DSM N.V.
In Chapter 6 and Chapter 9, on the basis of types, the Canthaxanthin market from 2018 to 2028 is primarily split into:
Synthetic Canthaxanthin
Natural Canthaxanthin
In Chapter 7 and Chapter 10, on the basis of applications, the Canthaxanthin market from 2018 to 2028 covers:
Supplements
Food
Feed
Cosmetics
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Canthaxanthin market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Canthaxanthin industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Canthaxanthin market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Canthaxanthin industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Canthaxanthin market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Canthaxanthin market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Canthaxanthin market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Canthaxanthin is a non-vitamin A-derived keto carotenoid with a characteristic orange-red color. Occurs naturally in many foods such as mushrooms, crustaceans, fish and eggs. Canthaxanthin available on the market is mainly produced by chemical synthesis and is used as colorants in human and animal feed products.
Under the public background of the COVID-19 crisis, the industry is being affected by COVID-19. It is currently impossible to accurately predict the degree of control of this epidemic in various countries, and it is impossible to predict whether it will function normally for long-term economic activities.
However, historical data shows that the impact of natural disasters on the macro economy is usually short-term, and the economy often shows a V-shaped trend. Affected by the disaster and market sentiment, the economic growth rate usually drops sharply in a short period of time, but as the disaster is gradually controlled, the market sentiment returns to stability, and the temporarily suppressed consumption and investment needs will be released, resulting in Economic rebound. The outbreak of the epidemic will have a significant impact on enterprises and individuals within a certain period of time, especially on small and medium-sized enterprises and low-income families. It is necessary for the government to take targeted financial and monetary measures to help all walks of life together.
Strength
Because of its color and strong antioxidant activity, canthaxanthin is widely used in the medical, pharmaceutical, cosmetic, poultry, fishery and food industries. The global egg industry, especially in Asia, has experienced accelerated growth over the past few years, leading to a proliferation of brands and market availability. The idea that golden yolks must come from healthy hens is becoming more widely accepted and as a result consumers are seeking eggs with darker yolks, while sales of canthaxanthin are also being driven.
Weakness
Media and changes in consumer awareness. Interest in canthaxanthin is waning from the discovery that its excessive use can deposit tiny crystals in the human eye, a fact that has led to undesirable media attention in the past and some pressure to restrict its use in aquafeeds.
Threat of substitutes. Alternatives to canthaxanthin include astaxanthin as well as other pigments made from natural products. Due to the similarity of application areas, substitutes will occupy the market share of canthaxanthin.
Opportunities
Emerging markets and applications. Novel application of canthaxanthin may present opportunities for industry growth.
Technology breakthroughs. Canthaxanthin products currently available on the market are mainly produced through organic chemical synthesis. However, natural canthaxanthin is more popular among consumers because it is easily absorbed and does not involve chemical processes. The increasing number of canthaxanthin-producing microbial strains being isolated and purified has led to the potential for further expansion and development of natural canthaxanthin applications. Extraction of canthaxanthin from fermentation culture bacteria has the advantages of fast reproduction rate, short production cycle, and more mature fermentation process, and it is easy to produce with high cell density. Therefore, technical breakthroughs in the production process may bring a new round of development opportunities for this product.
Region Overview:
In global comparison, a significant portion of the revenue was generated in North America (32.96% in 2022).
Company Overview:
Royal DSM N.V. is one of the major players operating in the Canthaxanthin market, holding a share of 27.67% in 2023.
Royal DSM N.V.
Royal DSM is a global science-based company, engaged in offering health, nutrition and materials. The Company's segments include Nutrition, Performance Materials, Innovation Center and Corporate Activities. Its Nutrition segment includes DSM Nutritional Products and DSM Food Specialties.
BASF SE
BASF SE is a Germany-based chemical company. The Company operates through six segments, which include Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions.
Segmentation Overview:
By type, Synthetic Canthaxanthin segment accounted for the largest share of market in 2022.
Application Overview:
In the Canthaxanthin market, 39.54% of the total value was generated through the Feed segment by application in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Canthaxanthin industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Canthaxanthin. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Canthaxanthin Market Report Include:
Market Size Estimates: Canthaxanthin market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Canthaxanthin market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Canthaxanthin market
Segment Market Analysis: Canthaxanthin market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Canthaxanthin market situations and prospects in major and top regions and countries
Canthaxanthin Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Canthaxanthin Industry Chain: Canthaxanthin market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Canthaxanthin Industry News, Policies by regions
Canthaxanthin Industry Porters Five Forces Analysis
Key players in the global Canthaxanthin market are covered in Chapter 2:
Novepha Company Limited
Allied Biotech Corporation
Divi’s Nutraceutical
Guangzhou Wisdom Bio-Technology Co., Ltd
Zipont Chem Tech Co., Ltd
ZMC
BASF SE
Royal DSM N.V.
In Chapter 6 and Chapter 9, on the basis of types, the Canthaxanthin market from 2018 to 2028 is primarily split into:
Synthetic Canthaxanthin
Natural Canthaxanthin
In Chapter 7 and Chapter 10, on the basis of applications, the Canthaxanthin market from 2018 to 2028 covers:
Supplements
Food
Feed
Cosmetics
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Canthaxanthin market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Canthaxanthin industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Canthaxanthin market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Canthaxanthin industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Canthaxanthin market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Canthaxanthin market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Canthaxanthin market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
