Carotenoids Market Size To Reach $5,221.3 Million By 2033

Carotenoids Market Growth & Trends

The global carotenoids market size is expected to reach USD 5,221.3 million by 2033, registering a CAGR of 5.4% from 2025 to 2033, according to a new report by Grand View Research, Inc. The growing application in human food, animal feed, dietary supplements, medicines, and cosmetic application owing to the presence of essential nutrients and vitamins in carotenoids will drive growth over the upcoming years. Furthermore, the increasing demand for these applications on account of population growth, increasing consumer surplus, and health awareness will aid in the industry expansion.

The usage of these products in the pharmaceutical sector will witness substantial revenue growth from 2024 to 2030. These products act as antioxidants within the body and protect the body against chronic diseases, cellular damage, and the effects of aging.

Carotenoids aid in supporting eye, skin, cardiovascular health, and are being widely used for cancer prevention. Strong growth of pharmaceutical and cosmetic industry in emerging countries such as China, India, and South Korea will create growth opportunities for the market in the future.

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Carotenoids Market Report Highlights

• Astaxanthin carotenoids dominated the carotenoids industry with the largest revenue share of 42.2% in 2024, due to its superior health-promoting properties. The beta carotene-based carotenoids segment is expected to grow at the fastest CAGR of 5.5% from 2025 to 2033.

• The synthetic source segment dominated the carotenoids market with a share of 52.8% in 2024, due to their cost-effectiveness, high purity, and consistent quality. The natural source segment is expected to grow at the fastest CAGR of 5.7% from 2025 to 2033.

• The feed application segment dominated the carotenoids industry with a market share of 27.3% in 2024. Food-based carotenoids application segment is expected to grow at the fastest CAGR of 5.9% from 2025 to 2033.

• The carotenoids market in Europe dominated with a 28.2% share in 2024, driven by rising health awareness and the growing burden of chronic diseases. The carotenoids market in Germany held a substantial share of 32.6% of the Europe carotenoids industry in 2024.

Carotenoids Market Segmentation

Grand View Research has segmented global carotenoids market based on product, application, and region:

Carotenoids Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Beta Carotene

• Lutein

• Lycopene

• Astaxanthin

• Zeaxanthin

• Canthaxanthin

• Other Products

Carotenoids Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Food

• Supplements

• Feed

• Pharmaceuticals

• Cosmetics

Carotenoids Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Natural

• Synthetic

Carotenoids Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Taiwan

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players of Carotenoids Market

• dsm-firmenich

• Allied Biotech Corporation

• Sensient Colors LLC

• BioExtract

• Cyanotech Corporation.

• Kemin Industries, Inc.

• BASF

• Döhler GmbH

• Divi's Nutraceuticals

• Lycored

• NHU