Canthaxanthin Market Outlook (2023 to 2033)

The global canthaxanthin market size is set to exceed a valuation of US$ 125.9 million in 2023. It is projected to further expand at a CAGR of 6.9% between 2023 and 2033. It is likely to reach US$ 245.3 million by the end of 2033.

Key Trends Listed by Future Market Insights (FMI):

  • Rising demand for natural colorants in the food sector is expected to propel the canthaxanthin industry.
  • Increasing acceptance of canthaxanthin in the animal feed sector is anticipated to provide a positive outlook for the market over coming years.
  • Growing focus on health and wellness applications of canthaxanthin is projected to see its applications increase over a variety of sectors.
  • Canthaxanthin applications in the cosmetics sector is expected to witness massive growth.
  • Growing preference for environmentally friendly sourcing in the canthaxanthin industry is likely to present opportunity to differentiate brands from competition.
  • Demand for naturally derived canthaxanthin & spirulina will retain high growth over the forecast period.
  • Surging awareness about the nutritional and functional properties of canthaxanthin is set to push sales forward.

One of the key drivers expected to propel growth in the global canthaxanthin industry is expansion of the convenience and processed food sector. As the sector is expanding in various developing countries across the globe, canthaxanthin demand is likely to rise.

Canthaxanthin adds vibrant color to a wide range of foods, making them more visually appealing to customers. Due to this feature, its application has been expanded to beverages, dairy products, confectionery, and baked goods.

It also possesses skin bronzing and tanning effects, thereby making it popular in the cosmetic sector. As there is an ongoing trend for natural and sustainable sourcing of ingredients, canthaxanthin has emerged as a sought-after ingredient in cosmetic formulations.

Apart from its application in the food and cosmetic sectors, canthaxanthin has found rising applications in the pharmaceutical and nutraceutical sectors as well. Its antioxidant properties along with prospective health benefits such as maintaining eye health and guarding against oxidative stress have drawn the interest of researchers.

Such diverse applications of canthaxanthin in various sectors have encouraged manufacturers to incorporate blended technologies to meet the growing demand from various end users. For instance, purification treatments and modern filtration systems aid in the management of impurities and pollutants, resulting in a high-quality end product.

Attributes Key Insights
Canthaxanthin Market Estimated Size (2023E) US$ 125.9 million
Projected Market Valuation (2033F) US$ 245.3 million
Value-based CAGR (2023 to 2033) 6.9%
Collective Value Share: Top 3 Countries US$ 104.8 million

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How Has the Market Progressed So Far in 2023?

Market Statistics Details
Jan to Jun (H1), 2021 (A) 3.5%
Jan to Jun (H1), 2023 Projected (P) 6.5%
Jul to Dec (H2), 2021 (A) 4.1%
Jul to Dec (H2), 2022 Outlook (O) 5.2%
Jan to Jun (H1), 2022 Outlook (O) 3.9%
Jul to Dec (H2), 2022 Projected (P) 4.9%
Jan to Jun (H1), 2022 Projected (P) 4.2%
BPS Change: H1, 2022 (O) to H1, 2022 (P) 30
BPS Change: H1, 2022 (O) to H1, 2021 (A) 37
BPS Change: H2, 2022 (O) to H2, 2022 (P) -30
BPS Change: H2, 2022 (O) to H2, 2022 (A) 107

2018 to 2022 Canthaxanthin Market Outlook Compared to Demand/Sales Forecast for/from 2023 to 2033

According to Future Market Insights (FMI), global canthaxanthin sales grew at a CAGR of 5.3% from 2018 to 2022. For the next projected ten years, the market for canthaxanthin is predicted to expand at 6.9% CAGR.

It has been observed that sales and production of canthaxanthin have increased across several regions. This is attributed to rising support from governments of these regions to expand production. For instance, in the United States, the Food and Drug Administration (FDA) has approved the use of canthaxanthin as a safe food additive.

Such positive research has encouraged key players to take a number of efforts and measures to improve the machinery and processing technology. For instance, BASF, a leading German multinational company, is engaged in producing canthaxanthin to use in multiple applications.

A few of these include animal feed and dietary supplements. It has also successfully found a novel application such as the incorporation of canthaxanthin in sunscreens.

Nandini Roy Choudhury
Nandini Roy Choudhury

Principal Consultant

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Adjacent Canthaxanthin Markets Overview

Canthaxanthin Market:

Attributes Canthaxanthin Market
CAGR (2023 to 2033) 6.9%
Market Value (2033) US$ 245.3 million
Growth Factor Increasing use of canthaxanthin in processed foods, beverages, desserts, and confectionery items to provide an orange or red color would drive sales.
Opportunity Canthaxanthin would be used in the poultry sector to enhance the color of egg yolks and poultry skin. It would help consumers associate a deep yellow or orange color with freshness and quality.
Key Trends Growing use of canthaxanthin in the cosmetics sector as a color additive in various products such as lipsticks, blushes, and eyeshadows would push demand.

Lactose-free Butter Market:

Attributes Lactose-free Butter Market
CAGR (2023 to 2033) 7%
Market Value (2033) US$ 603 million
Growth Factor Increased awareness and understanding of lactose intolerance have fueled demand for lactose-free butter. It offers a solution for those seeking to avoid discomfort associated with lactose consumption.
Opportunity Manufacturers and retailers have recognized the growing demand for lactose-free products and have expanded their product offerings to cater to this market segment.
Key Trends Rising emphasis on health and wellness has led to a shift in preferences toward healthier food options. Lactose-free butter appeals to health-conscious individuals seeking dairy alternatives that align with their dietary choices and health goals.

Flavor Capsule Cigarette Market:

Attributes Flavor Capsule Cigarette Market
CAGR (2023 to 2033) 11%
Market Value (2033) US$ 26,903.3 million
Growth Factor Flavor capsule cigarettes can help build brand loyalty. Smokers who find enjoyment in the variety of flavors provided by a particular brand are more likely to develop a preference for that brand and continue purchasing it, leading to brand loyalty and repeat business.
Opportunity Flavor capsule cigarettes have gained popularity in regions where regulations allow their sale. Availability of these products in such markets has contributed to their increased demand and popularity.
Key Trends Availability of appealing flavors and ability to switch between different flavors with a simple capsule crush can create an element of novelty and excitement, attracting younger consumers to these products.

Country-wise Insights

Region North America
Country United States
CAGR 6.9%
BPS Analysis -123.9
Market Value (2033) US$ 64.5 million
Region Europe
Country United Kingdom
CAGR 4.8%
BPS Analysis -239.2
Market Value (2033) US$ 12.1 million
Region Asia Pacific
Country China
CAGR 7.5%
BPS Analysis -322
Market Value (2033) US$ 30.3 million
Region Asia Pacific
Country India
CAGR 7.1%
BPS Analysis -266
Market Value (2033) US$ 10.0 million
Region Asia Pacific
Country Japan
CAGR 9.0%
BPS Analysis 196
Market Value (2033) US$ 9.6 million

What Are the Factors Driving Demand for Canthaxanthin in China?

Aquaculture Expansion to Drive Demand for Canthaxanthin Pills as A Feed Supplement in China

As per Future Market Insights (FMI), China canthaxanthin market is expected to reach a valuation of around US$ 30.3 million by 2033. It is also anticipated to hold a prominent value share of 70.6% in the East Asia market in the same year.

China is one of the leading producers of aquaculture products, accounting for 50% of global production. Similarly, China is also one of the largest consumers of seafood products due to which, demand for seafood in the country is continuously rising.

According to a few reports, China is one of the leading players in shrimp farming. Canthaxanthin is widely used in shrimp feed to improve the coloration of shrimp meat and make it more visually appealing to consumers. Hence, expansion of shrimp farming is directly driving canthaxanthin sales as an essential ingredient in shrimp feed.

Why Does the United States Hold a Prominent Position in the Field of Canthaxanthin?

Efficient Supply Network in the United States to Fuel Sales of Canthaxanthin Powder

According to Future Market Insights (FMI) analysis, the United States canthaxanthin industry is projected to witness 6.9% CAGR from 2023 to 2033. It is anticipated to surpass a valuation of US$ 64.5 million by 2033.

The United States has a large and diverse consumer base that is demanding natural & clean-label products. Canthaxanthin is a natural carotenoid that is used in a variety of products, including yogurt, ice cream, and orange juice.

The United States is also home to leading manufacturers such as DSM, Novus International, and ZMC, which are catering to these consumer bases. They are investing hugely in research and development to discover innovative products.

These companies also have a well-established distribution network, which is offering leverage to maintain an efficient supply chain. It is also enabling a continuous availability of products to various sectors. This has helped manufacturers in the country to penetrate into various markets and fulfill demand.

How is the United Kingdom Becoming a Prominent Hub for Canthaxanthin Production in Europe?

Strict Regulatory Environment in the United Kingdom to Spur Demand for Canthaxanthin Supplements

The United Kingdom canthaxanthin market is anticipated to surge at a 4.8% CAGR in the next ten years. It is set to achieve a market valuation of US$ 12.1 million by the end of 2033.

The United Kingdom has a strong regulatory environment for food and additives, including canthaxanthin, which has helped the market to surge in the country. It has regulations such as the Food Standards Act, Food Safety Act, and Food Ordinance that are designed to ensure safety & quality.

The country’s regulatory framework encourages innovations and investments. These also help in guaranteeing that canthaxanthin meets high safety and quality standard.

It has been observed that companies that adhere to these regulations create trust and confidence, which in turn increases the reliability of consumers. This regulatory environment is playing a vital role in supporting sales of canthaxanthin in the United Kingdom market.

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Category-wise Insights

Which is the Most Preferred Nature of Canthaxanthin across the World?

Cost Effectiveness and Continuous Production to Push Demand for Synthetic Canthaxanthin

Based on nature, the synthetic canthaxanthin segment is expected to hold a significant market share of 83.7% in 2033. It is estimated to reach a market valuation of US$ 205.9 million in 2033.

Demand for synthetic canthaxanthin is rising due to its cost-effectiveness, which gives the advantage of affordable solutions to manufacturers. It also offers consistent quality and purity levels along with uniform coloration to sectors requiring precise color control.

Synthetic canthaxanthin also gives the benefit of continuous and sustainable supply as production is not dependent on seasonal changes and scarcity of natural resources. These are a few factors driving demand for synthetic canthaxanthin in the market.

Who is the Leading End User of Canthaxanthin Worldwide?

Beverages Demanding Vibrant Colors to Drive Sales of Canthaxanthin Powder

According to Future Market Insights (FMI), canthaxanthin is finding rising applications in the beverage segment. It is expected to exhibit a market share of 26.4% in 2033. The segment is projected to cross a market valuation of US$ 64.1 million by 2033.

There is nowadays a growing preference for visually appealing beverages, and canthaxanthin offers natural pigmentation to beverages making them look more vibrant. Hence, it gives an opportunity to manufacturers to cater to the segment who are looking for colorful drinks.

There is also a segment of consumers who are demanding naturally sourced, clean-label, and sustainable products. Canthaxanthin both naturally derived and synthetically formulated serves the purpose.

It can be efficiently used as an alternative to artificial food coloring. Hence, canthaxanthin is finding rising applications in beverages worldwide.

Competitive Landscape

Leading canthaxanthin manufacturers are continually introducing new products to fulfil surging consumer demand. They would also use techniques such as partnerships, distribution agreements, mergers & acquisitions, ads, collaborations, and celebrity endorsements to acquire a competitive advantage in the market.

For instance,

  • The United States Food and Drug Administration (FDA) has given DSM's canthaxanthin supplement Carophyll Red 10% a generally recognized as safe (GRAS) designation. It can now be used as a nutritional antioxidant to assist the development of chicken embryos.
  • BASF Animal Nutrition manufactures a variety of animal feed additives, including canthaxanthin. In August 2018, the company introduced its canthaxanthin product line.

Scope of the Report

Attribute Details
Estimated Market Size (2023) US$ 125.9 million
Projected Market Valuation (2033) US$ 245.3 million
Value-based CAGR (2023 to 2033) 6.9%
Forecast Period 2023 to 2033
Historical Data Available for 2018 to 2022
Market Analysis Value (US$ million) and Volume (liter)
Key Regions Covered Latin America; Europe; South Asia; North America; East Asia; Oceania; and the Middle East & Africa
Key Countries Covered United States, Mexico, Canada, Chile, Brazil, Peru, Argentina, France, Germany, Spain, Italy, Netherlands, United Kingdom, Nordic, Belgium, Russia, Poland, Japan, South Korea, China, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others
Key Market Segments Covered Nature, End Use, and Region
Key Companies Profiled Allied Biotech Corporation; BASF SE; DSM; ROHA (A JJT Group Company); Sensient Colors LLC.; Divi's Laboratories Limited.; Zhejiang NHU Company Ltd; Zmc Gmbh; NOVUS INTERNATIONAL; Healtheway Xi‘an biotechnology Co.Ltd; Guangzhou Juyuan Bio-Chem Co., Ltd.; Lemnaceae Fermentation Inc; Biosynth; Emd Millipore Corporation; FOODCHEM; INDOFINE CHEMICAL COMPANY MS; POLIFAR GROUP LIMITED; HSF biotech; Other Players (On Additional Requests
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities, Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Canthaxanthin Market Outlook by Category

By Nature:

  • Natural
  • Synthetic

By End Use:

  • Beverage
    • Alcoholic Beverages
    • Carbonates (Carbonated Soft Drinks), Energy Drink
    • Juice Based Drinks
    • Milk Drinks & Milk Alternatives
    • Sports Drinks
    • Flavored Water, Enhanced Water, Sparkling Waters
  • Bakery
    • Snacks & Cereal
    • Breakfast Cereal
    • Bread
    • Cakes & Pastries
    • Cookies & Biscuits
    • Crackers & Savory Snacks
  • Candy / Confectionery Dairy
  • Meat, Poultry, Fish, & Eggs
  • Sauces, Soups, & Dressings
  • Seasonings
  • Dietary Supplement
  • Pharmaceuticals
  • Pet Food

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Frequently Asked Questions

What is the Growth Potential of the Canthaxanthin Market?

The growth potential of the canthaxanthin market is 245.3% through 2033.

What are the Key Trends in the Canthaxanthin Market?

The popularity of canthaxanthin in the cosmetic sector is increasing the global market trends.

What is the United States Expected CAGR by 2033?

The United States is likely to capture a CAGR of 6.9% by 2033.

How Big Will the United Kingdom Market by 2033?

The United Kingdom market will capture a CAGR of 4.8% by 2033.

Which Country is Set to Register Exponential Growth in the Canthaxanthin Market?

The United States, the United Kingdom, and China may witness significant growth in the market.

Table of Content
1. Executive Summary
    1.1. Global Market Outlook
    1.2. Demand Side Trends
    1.3. Supply Side Trends
    1.4. Technology Roadmap
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition
3. Market Dynamics
    3.1. Drivers
        3.1.1. Supply Side Drivers
        3.1.2. Demand Side drivers
        3.1.3. Economic Side Drivers
    3.2. Restraints
    3.3. Opportunity
    3.4. Market trends By Region
    3.5. Forecast Factors - Relevance & Impact
    3.6. Key Regulations and Policies
4. Value Chain Analysis
    4.1. Operating margins at each node of the supply chain
    4.2. List of Active Market Participants
5. Global - Pricing Analysis
    5.1. Price Point Assessment by Region
        5.1.1. Manufacturer-Level Pricing
        5.1.2. Distributor Level Pricing
    5.2. Price Point Assessment By Product
    5.3. Price Forecast till 2033
6. Global Market Size (in Value (US$ million) and Volume (liter) Analysis 2018 to 2022 and Forecast, 2023 to 2033
    6.1. Historical Market Size (in Value (US$ million) and Volume (liter) Analysis, 2018 to 2022
    6.2. Current and Future Market Size (in Value (US$ million) and Volume (liter) Analysis, 2023 to 2033
        6.2.1. Y-o-Y Growth Trend Analysis
        6.2.2. Absolute $ Opportunity Analysis
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature
    7.1. Introduction / Key Findings
    7.2. Historical Market Size (in Value (US$ million) and Volume (liter) Analysis By Nature, 2018 to 2022
    7.3. Current and Future Market Size (in Value (US$ million) and Volume (liter) Analysis and Forecast By Nature, 2023 to 2033
        7.3.1. Natural
        7.3.2. Synthetic
    7.4. Market Attractiveness Analysis By Nature
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use
    8.1. Introduction / Key Findings
    8.2. Historical Market Size (in Value (US$ million) and Volume (liter) Analysis By End-use, 2018 to 2022
    8.3. Current and Future Market Size (in Value (US$ million) and Volume (liter) Analysis and Forecast By End-use, 2023 to 2033
        8.3.1. Beverage
            8.3.1.1. Alcoholic Beverages
            8.3.1.2. Carbonates (Carbonated Soft Drinks), Energy Drink
            8.3.1.3. Juice Based Drinks
            8.3.1.4. Milk Drinks & Milk Alternatives
            8.3.1.5. Sports Drinks
            8.3.1.6. Flavored Water, Enhanced Water, Sparkling Waters
        8.3.2. Bakery
            8.3.2.1. Snacks, & Cereal
            8.3.2.2. Breakfast Cereal
            8.3.2.3. Bread
            8.3.2.4. Cakes & Pastries
            8.3.2.5. Cookies & Biscuits
            8.3.2.6. Crackers & Savory Snacks
        8.3.3. Candy / Confectionery, Dairy
        8.3.4. Middle East and Africa, Poultry, Fish, & Eggs
        8.3.5. Sauces, Soups, & Dressings
        8.3.6. Seasonings
        8.3.7. Dietary Supplement
        8.3.8. Pharmaceuticals
        8.3.9. Pet Food
    8.4. Market Attractiveness Analysis By End-use
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
    9.1. Introduction
    9.2. Historical Market Size (in Value (US$ million) and Volume (liter) Analysis By Region, 2018 to 2022
    9.3. Current Market Size (in Value (US$ million) and Volume (liter) Analysis and Forecast By Region, 2023 to 2033
        9.3.1. North America
        9.3.2. Latin America
        9.3.3. Europe
        9.3.4. East Asia
        9.3.5. South Asia
        9.3.6. Oceania
        9.3.7. Middle East & Africa
    9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
    10.1. Introduction
    10.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
    10.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
        10.3.1. By Country
            10.3.1.1. the United States
            10.3.1.2. Canada
        10.3.2. By Nature
        10.3.3. By End-use
    10.4. Market Attractiveness Analysis
        10.4.1. By Country
        10.4.2. By Nature
        10.4.3. By End-use
    10.5. Key Takeaways
11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
    11.1. Introduction
    11.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
    11.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
        11.3.1. By Country
            11.3.1.1. Brazil
            11.3.1.2. Mexico
            11.3.1.3. Argentina
            11.3.1.4. Rest of Latin America
        11.3.2. By Nature
        11.3.3. By End-use
    11.4. Market Attractiveness Analysis
        11.4.1. By Country
        11.4.2. By Nature
        11.4.3. By End-use
    11.5. Key Takeaways
12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
    12.1. Introduction
    12.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
    12.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
        12.3.1. By Country
            12.3.1.1. Germany
            12.3.1.2. the United Kingdom
            12.3.1.3. France
            12.3.1.4. Italy
            12.3.1.5. Spain
            12.3.1.6. BENELUX
            12.3.1.7. Nordic
            12.3.1.8. Russia
            12.3.1.9. Poland
            12.3.1.10. Rest of Europe
        12.3.2. By Nature
        12.3.3. By End-use
    12.4. Market Attractiveness Analysis
        12.4.1. By Country
        12.4.2. By Nature
        12.4.3. By End-use
    12.5. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
    13.1. Introduction
    13.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
    13.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
        13.3.1. By Country
            13.3.1.1. China
            13.3.1.2. Japan
            13.3.1.3. South Korea
        13.3.2. By Nature
        13.3.3. By End-use
    13.4. Market Attractiveness Analysis
        13.4.1. By Country
        13.4.2. By Nature
        13.4.3. By End-use
    13.5. Key Takeaways
14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
    14.1. Introduction
    14.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
    14.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
        14.3.1. By Country
            14.3.1.1. India
            14.3.1.2. Thailand
            14.3.1.3. Malaysia
            14.3.1.4. Indonesia
            14.3.1.5. Singapore
            14.3.1.6. Vietnam
            14.3.1.7. Philippines
            14.3.1.8. Rest of South Asia
        14.3.2. By Nature
        14.3.3. By End-use
    14.4. Market Attractiveness Analysis
        14.4.1. By Country
        14.4.2. By Nature
        14.4.3. By End-use
    14.5. Key Takeaways
15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033
    15.1. Introduction
    15.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
    15.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
        15.3.1. By Country
            15.3.1.1. Australia
            15.3.1.2. New Zealand
        15.3.2. By Nature
        15.3.3. By End-use
    15.4. Market Attractiveness Analysis
        15.4.1. By Country
        15.4.2. By Nature
        15.4.3. By End-use
    15.5. Key Takeaways
16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
    16.1. Introduction
    16.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
    16.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
        16.3.1. By Country
            16.3.1.1. GCC Countries
            16.3.1.2. Türkiye
            16.3.1.3. Egypt
            16.3.1.4. South Africa
            16.3.1.5. Rest of Middle East and Africa
        16.3.2. By Nature
        16.3.3. By End-use
    16.4. Market Attractiveness Analysis
        16.4.1. By Country
        16.4.2. By Nature
        16.4.3. By End-use
    16.5. Key Takeaways
17. Country-level Market Analysis, 2022
    17.1. the United States Market Analysis
        17.1.1. By Nature
        17.1.2. By End-use
    17.2. Canada Market Analysis
        17.2.1. By Nature
        17.2.2. By End-use
    17.3. Brazil Market Analysis
        17.3.1. By Nature
        17.3.2. By End-use
    17.4. Mexico Market Analysis
        17.4.1. By Nature
        17.4.2. By End-use
    17.5. Argentina Market Analysis
        17.5.1. By Nature
        17.5.2. By End-use
    17.6. Germany Market Analysis
        17.6.1. By Nature
        17.6.2. By End-use
    17.7. the United Kingdom Market Analysis
        17.7.1. By Nature
        17.7.2. By End-use
    17.8. France Market Analysis
        17.8.1. By Nature
        17.8.2. By End-use
    17.9. Italy Market Analysis
        17.9.1. By Nature
        17.9.2. By End-use
    17.10. Spain Market Analysis
        17.10.1. By Nature
        17.10.2. By End-use
    17.11. Belgium Market Analysis
        17.11.1. By Nature
        17.11.2. By End-use
    17.12. Netherlands Market Analysis
        17.12.1. By Nature
        17.12.2. By End-use
    17.13. Nordic Market Analysis
        17.13.1. By Nature
        17.13.2. By End-use
    17.14. Russia Market Analysis
        17.14.1. By Nature
        17.14.2. By End-use
    17.15. Poland Market Analysis
        17.15.1. By Nature
        17.15.2. By End-use
    17.16. China Market Analysis
        17.16.1. By Nature
        17.16.2. By End-use
    17.17. Japan Market Analysis
        17.17.1. By Nature
        17.17.2. By End-use
    17.18. South Korea Market Analysis
        17.18.1. By Nature
        17.18.2. By End-use
    17.19. India Market Analysis
        17.19.1. By Nature
        17.19.2. By End-use
    17.20. Thailand Market Analysis
        17.20.1. By Nature
        17.20.2. By End-use
    17.21. Malaysia Market Analysis
        17.21.1. By Nature
        17.21.2. By End-use
    17.22. Vietnam Market Analysis
        17.22.1. By Nature
        17.22.2. By End-use
    17.23. Philippines Market Analysis
        17.23.1. By Nature
        17.23.2. By End-use
    17.24. Indonesia Market Analysis
        17.24.1. By Nature
        17.24.2. By End-use
    17.25. Singapore Market Analysis
        17.25.1. By Nature
        17.25.2. By End-use
    17.26. Australia Market Analysis
        17.26.1. By Nature
        17.26.2. By End-use
    17.27. New Zealand Market Analysis
        17.27.1. By Nature
        17.27.2. By End-use
    17.28. GCC Countries Market Analysis
        17.28.1. By Nature
        17.28.2. By End-use
    17.29. Türkiye Market Analysis
        17.29.1. By Nature
        17.29.2. By End-use
    17.30. Egypt Market Analysis
        17.30.1. By Nature
        17.30.2. By End-use
    17.31. South Africa Market Analysis
        17.31.1. By Nature
        17.31.2. By End-use
18. Market Structure Analysis
    18.1. Global Competition - a Dashboard View
    18.2. Industry Structure Analysis
        18.2.1. % tier 1 market players
        18.2.2. % tier 2 market players
        18.2.3. % tier 3 market players
    18.3. Global Market Company Share Analysis
        18.3.1. For Tier 1 Market Players, 2023
        18.3.2. Company Market Share Analysis of Top 5 Players, By Region
    18.4. Key Participants Market Presence (Intensity Mapping) by Region
19. Competition Analysis
    19.1. Competition Dashboard
    19.2. Competition Benchmarking
    19.3. Competition Deep Dive 
        19.3.1. Mezzoni Foods
            19.3.1.1. Product Portfolio
            19.3.1.2. Product Claim
            19.3.1.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.1.4. Sales Footprint
            19.3.1.5. Strategy Overview
                19.3.1.5.1. Marketing Strategy
                19.3.1.5.2. Product Strategy
                19.3.1.5.3. Channel Strategy
            19.3.1.6. SWOT Analysis
        19.3.2. Allied Biotech Corporation
            19.3.2.1. Product Portfolio
            19.3.2.2. Product Claim
            19.3.2.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.2.4. Sales Footprint
            19.3.2.5. Strategy Overview
                19.3.2.5.1. Marketing Strategy
                19.3.2.5.2. Product Strategy
                19.3.2.5.3. Channel Strategy
            19.3.2.6. SWOT Analysis
        19.3.3. BASF SE
            19.3.3.1. Product Portfolio
            19.3.3.2. Product Claim
            19.3.3.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.3.4. Sales Footprint
            19.3.3.5. Strategy Overview
                19.3.3.5.1. Marketing Strategy
                19.3.3.5.2. Product Strategy
                19.3.3.5.3. Channel Strategy
            19.3.3.6. SWOT Analysis
        19.3.4. DSM
            19.3.4.1. Product Portfolio
            19.3.4.2. Product Claim
            19.3.4.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.4.4. Sales Footprint
            19.3.4.5. Strategy Overview
                19.3.4.5.1. Marketing Strategy
                19.3.4.5.2. Product Strategy
                19.3.4.5.3. Channel Strategy
            19.3.4.6. SWOT Analysis
        19.3.5. ROHA ( A JJT Group Company)
            19.3.5.1. Product Portfolio
            19.3.5.2. Product Claim
            19.3.5.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.5.4. Sales Footprint
            19.3.5.5. Strategy Overview
                19.3.5.5.1. Marketing Strategy
                19.3.5.5.2. Product Strategy
                19.3.5.5.3. Channel Strategy
            19.3.5.6. SWOT Analysis
        19.3.6. Sensient Colors LLC.
            19.3.6.1. Product Portfolio
            19.3.6.2. Product Claim
            19.3.6.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.6.4. Sales Footprint
            19.3.6.5. Strategy Overview
                19.3.6.5.1. Marketing Strategy
                19.3.6.5.2. Product Strategy
                19.3.6.5.3. Channel Strategy
            19.3.6.6. SWOT Analysis
        19.3.7. Divi's Laboratories Limited.
            19.3.7.1. Product Portfolio
            19.3.7.2. Product Claim
            19.3.7.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.7.4. Sales Footprint
            19.3.7.5. Strategy Overview
                19.3.7.5.1. Marketing Strategy
                19.3.7.5.2. Product Strategy
                19.3.7.5.3. Channel Strategy
            19.3.7.6. SWOT Analysis
        19.3.8. Zhejiang NHU Company Ltd
            19.3.8.1. Product Portfolio
            19.3.8.2. Product Claim
            19.3.8.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.8.4. Sales Footprint
            19.3.8.5. Strategy Overview
                19.3.8.5.1. Marketing Strategy
                19.3.8.5.2. Product Strategy
                19.3.8.5.3. Channel Strategy
            19.3.8.6. SWOT Analysis
        19.3.9. Zmc Gmbh
            19.3.9.1. Product Portfolio
            19.3.9.2. Product Claim
            19.3.9.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.9.4. Sales Footprint
            19.3.9.5. Strategy Overview
                19.3.9.5.1. Marketing Strategy
                19.3.9.5.2. Product Strategy
                19.3.9.5.3. Channel Strategy
            19.3.9.6. SWOT Analysis
        19.3.10. NOVUS INTERNATIONAL
            19.3.10.1. Product Portfolio
            19.3.10.2. Product Claim
            19.3.10.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.10.4. Sales Footprint
            19.3.10.5. Strategy Overview
                19.3.10.5.1. Marketing Strategy
                19.3.10.5.2. Product Strategy
                19.3.10.5.3. Channel Strategy
            19.3.10.6. SWOT Analysis
        19.3.11. Healtheway Xi‘an biotechnology Co.Ltd
            19.3.11.1. Product Portfolio
            19.3.11.2. Product Claim
            19.3.11.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.11.4. Sales Footprint
            19.3.11.5. Strategy Overview
                19.3.11.5.1. Marketing Strategy
                19.3.11.5.2. Product Strategy
                19.3.11.5.3. Channel Strategy
            19.3.11.6. SWOT Analysis
        19.3.12. Guangzhou Juyuan Bio-Chem Co., Ltd.
            19.3.12.1. Product Portfolio
            19.3.12.2. Product Claim
            19.3.12.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.12.4. Sales Footprint
            19.3.12.5. Strategy Overview
                19.3.12.5.1. Marketing Strategy
                19.3.12.5.2. Product Strategy
                19.3.12.5.3. Channel Strategy
            19.3.12.6. SWOT Analysis
        19.3.13. Lemillionaceae Fermentation Inc
            19.3.13.1. Product Portfolio
            19.3.13.2. Product Claim
            19.3.13.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.13.4. Sales Footprint
            19.3.13.5. Strategy Overview
                19.3.13.5.1. Marketing Strategy
                19.3.13.5.2. Product Strategy
                19.3.13.5.3. Channel Strategy
            19.3.13.6. SWOT Analysis
        19.3.14. Biosynth
            19.3.14.1. Product Portfolio
            19.3.14.2. Product Claim
            19.3.14.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.14.4. Sales Footprint
            19.3.14.5. Strategy Overview
                19.3.14.5.1. Marketing Strategy
                19.3.14.5.2. Product Strategy
                19.3.14.5.3. Channel Strategy
            19.3.14.6. SWOT Analysis
        19.3.15. Emd Millipore Corporation
            19.3.15.1. Product Portfolio
            19.3.15.2. Product Claim
            19.3.15.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.15.4. Sales Footprint
            19.3.15.5. Strategy Overview
                19.3.15.5.1. Marketing Strategy
                19.3.15.5.2. Product Strategy
                19.3.15.5.3. Channel Strategy
            19.3.15.6. SWOT Analysis
        19.3.16. FOODCHEM
            19.3.16.1. Product Portfolio
            19.3.16.2. Product Claim
            19.3.16.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.16.4. Sales Footprint
            19.3.16.5. Strategy Overview
                19.3.16.5.1. Marketing Strategy
                19.3.16.5.2. Product Strategy
                19.3.16.5.3. Channel Strategy
            19.3.16.6. SWOT Analysis
        19.3.17. INDOFINE CHEMICAL COMPANY MS
            19.3.17.1. Product Portfolio
            19.3.17.2. Product Claim
            19.3.17.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.17.4. Sales Footprint
            19.3.17.5. Strategy Overview
                19.3.17.5.1. Marketing Strategy
                19.3.17.5.2. Product Strategy
                19.3.17.5.3. Channel Strategy
            19.3.17.6. SWOT Analysis
        19.3.18. POLIFAR GROUP LIMITED
            19.3.18.1. Product Portfolio
            19.3.18.2. Product Claim
            19.3.18.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.18.4. Sales Footprint
            19.3.18.5. Strategy Overview
                19.3.18.5.1. Marketing Strategy
                19.3.18.5.2. Product Strategy
                19.3.18.5.3. Channel Strategy
            19.3.18.6. SWOT Analysis
        19.3.19. HSF biotech
            19.3.19.1. Product Portfolio
            19.3.19.2. Product Claim
            19.3.19.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.19.4. Sales Footprint
            19.3.19.5. Strategy Overview
                19.3.19.5.1. Marketing Strategy
                19.3.19.5.2. Product Strategy
                19.3.19.5.3. Channel Strategy
            19.3.19.6. SWOT Analysis
        19.3.20. Other Players (On Additional Requests)
            19.3.20.1. Product Portfolio
            19.3.20.2. Product Claim
            19.3.20.3. Revenue by Market Segments (Product/ channel/Region)
            19.3.20.4. Sales Footprint
            19.3.20.5. Strategy Overview
                19.3.20.5.1. Marketing Strategy
                19.3.20.5.2. Product Strategy
                19.3.20.5.3. Channel Strategy
            19.3.20.6. SWOT Analysis
20. Assumptions and Acronyms Used
21. Research Methodology
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