Natural carotenoids are tetraterpene pigments that are found in photosynthetic bacteria, fungi, algae, and plants. About 850 naturally occurring carotenoids were reported as of 2020. Photosynthetic bacteria, fungi, algae, and plants can synthesize carotenoids. The global natural carotenoids market is expected to reach USD 1.9 billion by 2028 at a CAGR of 7.4% from 2021 to 2028. The growth of this market is mainly attributed to the rising demand for natural food colors, increasing awareness regarding clean-label products, rising incidence of eye diseases and cancer, and growing demand for natural skincare products. However, stringent regulatory and approval norms and high costs of natural colorants are expected to hinder market growth to some extent.

Here are the top 10 companies operating in Natural Carotenoids Market

Koninklijke DSM N.V. (Netherlands)

Founded in 1902 and headquartered in Heerlen, Netherlands, Koninklijke DSM (Dutch State Mines) is engaged in sourcing, manufacturing, and marketing nutritional products and functional materials. The company operates through four business segments, namely Nutrition, Materials, Innovation Center, and Corporate Activities. These businesses serve various industries, such as animal feed, food & beverage, pharmaceuticals, infant nutrition, dietary supplements, personal care, medical devices, automotive, paints, electrical & electronics, life protection, alternative energy, and bio-based materials. The company offers a wide range of natural carotenoids for pharmaceutical, dietary supplement, and food & beverage applications. The company has a geographic presence in North America, Latin America, Europe, Asia, and the Middle East & Africa.

Sensient Technologies Corporation (U.S.)

Founded in 1882 and headquartered in Milwaukee, U.S., Sensient Technologies Corporation is mainly involved in developing, manufacturing, and marketing colors, flavors, and fragrances. The company mainly operates through three business segments, namely Flavors & Extracts, Colors, and Asia-Pacific. The company offers natural colors through the Color segment and serves various industries, including food, beverage, personal care, nutraceuticals, and household products. As of December 31, 2019, the company’s principal color manufacturing plants were located in Missouri, New Jersey, Brazil, Canada, China, France, Germany, Italy, Mexico, Peru, Switzerland, and the U.K. The company has a geographic presence in North America, Europe, and Asia-Pacific.

Archer Daniels Midland Company (U.S.)

Archer Daniels Midland Company

Founded in 1902 and headquartered in Illinois, U.S., Archer Daniels Midland Company (ADM) provides flavors and ingredients for food & beverage, livestock, animal nutrition, and health supplement products. The company operates through four business segments, namely Agriculture Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other. The company provides natural carotenoids through its Nutrition segment. The Nutrition segment manufactures, sells, and distributes natural flavor ingredients, flavor systems, natural colors, proteins, emulsifiers, soluble fiber, polyols, hydrocolloids, and natural health & nutrition products, including probiotics, prebiotics, enzymes, natural carotenoids, and botanical extracts; and other specialty food and feed ingredients; edible beans; formula feeds, and animal health & nutrition products. The company offers antioxidant compounds beta-carotene and anthocyanin for various food, beverage, and supplement applications.

With its subsidiaries and a strong distribution network in over 200 countries, the company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Allied Biotech Corporation (Taiwan)

Founded in 2001 and headquartered in Taipei, Taiwan, Allied Biotech Corporation is engaged in the manufacture and sale of miscellaneous food products, precision chemical materials, and environmental chemicals. The company manufactures carotenoid formulations for the food, supplement, and feed industries. The company offers a wide range of carotenoid products, including β-Carotene, β-Apo-8′-Carotenal, Lycopene, Lutein, and Canthaxanthin. The company distributes its products within domestic and overseas markets, including the rest of Asia, Europe, and the Americas. The company has a geographic presence in the Americas, Asia-Pacific, Europe, and the Middle East & Africa.

FMC Corporation (U.S.)

Founded in 1883 and headquartered in Pennsylvania, U.S., FMC Corporation is an agricultural sciences company. The company provides growers with a product portfolio integrated with a discovery and development pipeline in crop protection, plant health, and pest and turf management. The company also offers natural carotenoids through its Herbicides segment. The company operates through four business segments, namely Insecticides, Herbicides, Fungicides, and Others. With 32 manufacturing facilities in 20 countries, the company has a geographic presence across North America, Europe, AsiaPacific, Latin America, and the Middle East & Africa.

A report into the projected growth of the current Natural Carotenoids Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2028, it’s expected to have grown at a CAGR of 7.4%, reaching over $1.9 billion.

Kemin Industries, Inc. (U.S.)

Founded in 1961 and headquartered in Iowa, U.S., Kemin Industries, Inc. manufactures nutritional ingredients. The company produces a wide range of specialty ingredients, including antioxidant formulations, natural extracts, liquid antimicrobial formulas, natural & synthetic antioxidants, mold inhibitors, forage preservatives, toxin binders, enzymes, probiotics, and carotenoids. Its products find applications in several industries, including animal nutrition & health, pet food technologies, rendering, dietary ingredients, food technologies, personal care, biofuels, and commercial greenhouses. Kemin Industries, Inc. has a geographic presence in several countries across North America, Latin America, Europe, AsiaPacific, and the Middle East & Africa. The company operates through its manufacturing facilities in Belgium, Brazil, China, India, Italy, Portugal, Singapore, South Africa, and the U.S.

BASF SE (Germany)

Founded in 1965 and headquartered in Ludwigshafen, Germany, BASF SE is engaged in the R&D, manufacturing, and marketing of various products for agriculture, automotive & transportation, chemicals, construction, energy & resources, paint & coatings, and pharmaceutical industries. The company operates through six business segments, namely Surface Technologies, Materials, Chemicals, Industrial Solutions, Agricultural Solutions, and Nutrition & Care. The company offers natural carotenoids through its Nutrition & Care segment. With its subsidiaries and a strong distribution network in more than 90 countries, the company has a geographic presence in Europe, North America, Asia-Pacific, South America, and the Middle East & Africa.

Döhler GmbH (Germany)

Founded in 1838 and headquartered in Darmstadt, Germany, Döhler produces, markets, and supplies technology-based natural ingredients, ingredient systems, and integrated solutions for the food & beverage industry. The company operates through four business segments, namely Natural Ingredients, Ingredient Systems, Ingredient Solutions, and Value Chain. The company’s product portfolio of natural ingredients includes natural flavors, natural colors, health ingredients, pulses & cereal ingredients, dairy & plant-based ingredients, fermented ingredients, dry fruit & vegetable ingredients, fruit & vegetable ingredients, and ingredient systems. The company offers natural carotenoid solutions for food & beverage applications. With 23 modern production sites, 24 application centers, and more than 50 sales offices, the company has a geographic presence in 130 countries across Asia-Pacific, Europe, South America, North America, and the Middle East & Africa.

Cyanotech Corporation (U.S.)

Incorporated in 1983 and headquartered in Hawaii, U.S., Cyanotech Corporation is engaged in the cultivation, production, and sale of microalgae-derived natural products for the health and human nutrition markets worldwide. The company operates through three business segments, namely Natural Astaxanthin Products, Spirulina Products, and Contract Extraction Services. Its products include BioAstin Hawaiian Astaxanthin, a dietary antioxidant that is used as a human dietary supplement and dietary ingredient to support and maintain the body’s natural inflammatory response, enhance skin, and support eye & joint health and immunity; and Hawaiian Spirulina Pacifica, a nutrient-rich dietary supplement, which is used for extra energy, a strengthened immune system, cardiovascular benefits, and as a source of antioxidant carotenoids.

The company sells its products as packaged consumer products through distributors, retailers, and online channels; DTC (direct to consumer); and in bulk to manufacturers, formulators, and distributors. The company has a geographic presence in North America, Europe, and Asia-Pacific.

DDW, Inc. (U.S.)

Founded in 1865 and headquartered in Louisville, U.S., DDW provides natural colors, food colorings, caramel colors, and burnt sugars for food & beverage products. The company offers natural colors mainly derived from agricultural, biological, and mineral sources. The company also offers natural carotenoids for food & beverage applications. With ten manufacturing facilities, the company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and Africa.

Popular mentions: Chenguang Biotechnology Group Co., Ltd. (China), Fuji Chemical Industries Co., Ltd. (Japan), Carotec, INC. (U.S.), ExcelVite Sdn. Bhd. (Malaysia), Guangzhou Wisdom Bio-Technology Co., Ltd. (China), Novus International, Inc. (U.S.), Lycored, Ltd. (Israel), Farbest Brands (U.S.), Algatechnologies Ltd. (Israel), Divi’s Laboratories Limited (India), and Dynadis SARL (France).

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Authoritative Research on the Natural Carotenoids Market – Global Opportunity Analysis and Industry Forecast (2021-2028)

Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:

  • Recent financial performance
  • Key products
  • Significant company strategies
  • Partnerships and acquisitions
  • Impact of COVID-19

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