Carotenoids and antioxidants market to grow by CAGR of 7.3% to US$766m by 2018
Driven by increasing awareness of ageing issues
The European carotenoids and antioxidants market is expected to grow from US$503m in 2012 to $766m by 2018, at a CAGR of 7.3% from 2013 to 2018, according to a new report from Micromarket Monitor.
The market in Europe, although segregated, has a huge demand for nutraceuticals, boosted by increasing awareness in the North European and West European regions of issues related to ageing, according to the report, Europe Carotenoids & Antioxidants (Nutraceuticals) Market.
The market for carotenoids and antioxidants is therefore blooming, and is considered to be a high revenue generation market in the future. Taking into consideration the growing population, combined with rising income levels, the demand for these ingredients seems to be unending in the region, the report finds.
While Europe is one of the major markets, Germany holds the maximum share in the carotenoids and antioxidants sector in the region. As of 2013, the country held 25% of the market.
BASF (Germany) is the major player in the European carotenoids and antioxidants market with a share of 15%, followed by DSM (The Netherlands) with 12%. The three other leading players are Chemtura (US), Albemarle (US), and Sumitomo (Japan).
Dietary supplements are the most preferred application for carotenoids and antioxidants, says the report, which will be published next month (17 August).
