The global apocarotenal market is expected to exhibit growth at a CAGR of around 3% to 4% during the forecast period 2022-2032. Rising usage in a wide range of applications across the pharmaceutical and dietary supplement sectors is estimated to augment the demand for apocarotenal in the global market.
| Report Attribute | Details |
| Apocarotenal Market Projected Growth Rate (2022-2032) | 3% to 4% CAGR |
Apocarotenal, also referred to as trans-β-apo-8'-carotenal, is a red to orange pigment extracted from citrus fruits such as orange, lemon, sweet lime, and spinach. It is a type of carotenoid and is rich in nutrition such as vitamin A. It is considered ideal for the production of food products such as processed cheese.
Demand for apocarotenal is rapidly increasing across the food & beverage industry, owing to its excellent food preserving properties and ability to increase the shelf life of the food and beverages products. In addition to this, growing market player emphasis on increasing the production capacity of apocarotenal to capitalize on the surging demand is anticipated to drive the growth in the market.
There is a robust surge in the burden of chronic diseases such as cancer, Alzheimer's disease, asthma, macular degeneration, and others, due to the growing alcohol consumption, opioid use, and smoking across the world, boosting the demand for associate treatment supplements.
For instance, according to a study published by the World Cancer Research Fund International, nearly 18.1 Mn new cases of cancer were reported worldwide in the year 2020, where lungs and stomach cancer accounted for 2.2 Mn and 1.08 Mn cases respectively.
As apocarotenal is extensively used in the formulation of therapeutics supplements for the treatment of aforementioned ailments, owing to its high antioxidant and cancer-fighting properties, growing incidence of chronic diseases is expected to bolster the sales in the market.
Despite the numerous advantages associated with the consumption and use of apocarotenal, high cost of these carotenoids and high availability of alternatives such as lycopene, zeaxanthin, beta-cryptoxanthin, and others is hindering the sales in the global market.
A study by FMI states that North America is projected to register growth at a rapid CAGR in the global apocarotenal market during the forecast period 2022-2032.
Due to the increasing disposable increasing, growing hectic lifestyles, and rising inclination towards convenient food & beverage products, the demand for ready to eat and packed food products such as baked products, confectionery, and dairy products is burgeoning. As apocarotenal is increasingly used in the preparation of smoothies, cheese, cookies, pastries, and others, growing consumption of above-mentioned products is expected to bolster the sales in the market.
In addition to this, the implementation of stringent norms & standards by regulatory organizations regarding the use of artificial coloring agents is further accelerate the demand for natural ones such as apocarotenal in North America.
Europe is expected to account for a significant share in the global apocarotenal market from 2022 to 2032, states Future Market Insights.
The prevalence of eye-related conditions is rapidly increasing across the countries such as the U.K., Germany, France, and others, owing to the growing usage of screen-based devices such as smartphones, laptops, tablets, and others.
For instance, according to the Royal National Institute of Blind People (RNIB), around 850,000 people are estimated to be suffering from some form of dementia across the U.K. Since, apocarotenal plays a vital role in the production of medication for the treatment of these ailments, on account of its high vitamin A content, growing burden of eye-related conditions is anticipated to favor the growth in the Europe market.
Some of the leading players in the apocarotenal market are Divis Laboratories, Kanegrade Ltd., Cybercolors Ltd., Spectrum Chemical Manufacturing Corp., Valensa International, LLC., Dhler Group, Williamson & Co., Inc., DSM Nutritional Product Ltd., Allied Biotech, Ingredients Inc., BASF Corp, Sensient Technologies Corporation, Royal DSM N.V., DowDuPont Inc., and others.
The market for apocarotenal is highly competitive, attributed to growing adoption of production capacity expansion, collaboration, partnership, mergers & acquisitions strategies by leading players.
| Report Attribute | Details |
| Growth Rate | CAGR of 3% to 4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
FMI projects the sales of apocarotenal in the market is expected to rise at 3% to 4% value CAGR by 2032.
The global apocarotenal market is expected to be dominated by the North America over forecast period 2022-2032.
Divis Laboratories, Kanegrade Ltd., Cybercolors Ltd., Spectrum Chemical Manufacturing Corp., Valensa International, LLC., Dhler Group, Williamson & Co., Inc., DSM Nutritional Product Ltd., Allied Biotech, Ingredients Inc., BASF Corp, Sensient Technologies Corporation, Royal DSM N.V., DowDuPont Inc., and others are some of the leading players in the prominent apocarotenal market.
Apocarotenal Market
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