Cryptoxanthin is a carotenoid pigment found in plants that imparts yellow, orange and red hues. It is known to possess antioxidant properties which help prevent cell damage and aging. Cryptoxanthin supplements are gaining popularity owing to their ability to support eye health and immune system. They are commonly found in citrus fruits, papaya and habanero peppers.
The global Cryptoxanthin Market is estimated to be valued at US$ 740 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising awareness about the health benefits of consuming carotenoids is driving the growth of cryptoxanthin market. Cryptoxanthin is known to promote eye health by reducing the risk of age-related macular degeneration (AMD). Regular consumption of cryptoxanthin through dietary sources or supplements is linked to a decreased risk of AMD. It also boosts the immune system by strengthening the body's defense mechanisms. With growing health consciousness, people are increasingly supplementing their diets with cryptoxanthin to maintain optimal vision and immune health. This growing demand is a key trend propelling the cryptoxanthin market forward.
Segment Analysis
The global Cryptoxanthin Market Demand is segmented on the basis of form, end use industry and region. By form, the cryptoxanthin powder segment dominated the market in 2023 owing to wide applications in food and beverage industry. The powder form allows easy handling and blending of cryptoxanthin in various food products.
Key Takeaways
The global cryptoxanthin market is expected to witness high growth over the forecast period of 2023 to 2030. With a CAGR of 4.3%, the market size is projected to reach US$ 950 Mn by 2030 from US$ 740 Mn in 2024.
Regional analysis
North America accounted for the largest market share in 2023 and is expected to maintain dominance over the forecast period. The rising health consciousness and increasing demand for natural colorants are major factors driving growth in the region. Asia Pacific is expected to be the fastest growing market owing to rapid economic development and rising disposable incomes in the region.
Key players
Key players operating in the cryptoxanthin market are DSM, CHROMADEX, Zhongda Hengyuan Biotechnology Co.,Ltd., KANEKA CORPORATION, BASF SE, Nutraceutical Corporation. DSM dominates the global market for cryptoxanthin with wide distribution network and portfolio of food grade cryptoxanthin products. BASF focuses on expansion of its application base through research and development activities.
Explore more related article on this topic: https://www.ukwebwire.com/the-global-cryptoxanthin-market-driven-by-growing-health-consciousness/
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