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Canthaxanthin Market Introduction and Overview
According to SPER market research, 'Global Canthaxanthin Market Size- By Source, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Global Canthaxanthin Market is predicted to reach 184.1 Million by 2034 with a CAGR 2.86%.
Canthaxanthin is a carotenoid pigment found in various organisms, including algae, fungi, and certain animals. Known for its vibrant orange-red color, it is widely utilized in industries such as food, cosmetics, and animal feed. In the food sector, it enhances the color of egg yolks, fish, and poultry. In cosmetics, it is used to create a tan-like effect on the skin. Canthaxanthin also offers medicinal benefits, helping to treat skin conditions like rashes and itching.
Restraints: The Canthaxanthin market faces several challenges that could impede its growth. A key issue is the regulatory restrictions on its use, especially in food and dietary supplements, due to ongoing safety concerns about its consumption in large quantities. Additionally, the limited availability of natural canthaxanthin sources results in high production costs, leading to a preference for synthetic alternatives, which are less environmentally sustainable. The market is also hindered by a lack of widespread awareness of the product's benefits.
Scope of the Report:
Report Metric Details
Market size available for years 2021-2034
Base year considered 2024
Forecast period 2025-2034
Segments covered By Source, By Application.
Regions covered
North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa.
Companies Covered BASF, DSM, Guangzhou Wisdom Biotechnology, Hangzhou Onicon Chemical, Noshly, Novepha Company, Novus International, Parchem, Zipont Chem Tech, and ZMC, along with several other players in the industry.
Canthaxanthin Market Segmentation:
By Source: Based on the Source, Global Canthaxanthin Market is segmented as; Synthetic, Natural.
By Application: Based on the Application, Global Canthaxanthin Market is segmented as; Dietary Supplement, Personal Care, Pharmaceuticals, Food & Beverages, Animal feed.
By Region: This research also includes data for North America, Latin America, Asia-Pacific, Europe and Middle East & Africa.