Feed Carotenoids Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type of Animal (Swine, Poultry, Ovine, Bovine, Equine, Canine, Aquaculture), By Product Type (Canthaxanthin, Beta-Carotene, Lutein, Zeaxanthin, Lycopene, Astaxanthin, Others) and Region Forecast 2019-2023

Feed Carotenoids Market size was valued at US$ 3.5 billion in 2023 and is projected to reach US$ 10.5 billion by 2030 at a CAGR of 4.2% from 2024 to 2030. Carotenoids are the natural pigments that are available in algae, plants and a few types of microorganisms. These are considered a powerful antioxidants and rich sources of vitamin A. Beta-carotene, zeaxanthin, lycopene, and canthaxanthin are different types of carotenoids. These have the immune system and anti-inflammatory benefits and sometimes help in heart disease prevention.

Carotenoids are vital factors in human and animal health and are very important for proper vision. Hence, intake of carotenoids in optimum quantities is essential for the prevention of deficiency-related disease development. Carotenoids are used on a large scale for animal feed due to their high nutritive value and pigmentation, which enhances the appearance of meat, meat products, and fish, among others along with palatability. Due to the growing concern of health consciousness and the significance of quality meat is playing a vital role in the feed carotenoid market. Carotenoids have rich nutritious properties that enable prevent cataract, diabetes, cancer, etc. They contain a colour pigment called carotene that imparts orange, red and yellow colours to the animals and plants. The colouring of the products plays the major role in estimating the commercial value of that product.

Increase in the usage of carotenoids is expected to foster the market over the forecast period. Carotenoids' diverse biological features have led to an increase in its use as an aquaculture feed supplement. Carotenoids are widely utilised in salmon, trout, and red porgy feed, as well as shellfish such as shrimp and lobster. Carotenoids are critical during the larval stage of aquaculture species, and fish larvae raised on live feeds containing carotenoids have a significantly higher survival rate. According to estimates, cultured aquaculture will account for over 20% of world fish and other aquaculture consumption by the end of 2021, compared to wild collecting.

Feed Carotenoids Market Key Development

• On September 14, 2023: BASF launches Product Carbon Footprints for several products across human and animal nutrition markets, including vitamins, carotenoids, feed performance ingredients; company expects investments in green energy to further reduce future footprints