According to the report “Global Feed Carotenoid Market ", published by Market Data Forecast, the global market is projected to reach USD 1.66billion by 2021, at a CAGR of 3.94% from 2016 to 2021.
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Carotenoids have high nourishing properties which help avert deadly diseases such as cancer, diabetes, and tumour.
Along with this, carotenoids comprise of a coloration pigment named carotene which is accountable for imparting red, yellow, and orange colour in plants and animals thus intensifying the need and utilization of carotenoids especially for meat products. The coloration of animal products plays a major role in determining their commercial worth. Hence, carotenoids are considered as a major business opportunity, with several multinational players already entering into the production of different types of carotenoids which can be used in several applications.
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The growth of the global Feed Carotenoid market is majorly driven by factors such as growing consumer preference for naturally healthy products, easy availability and the commercial scope of carotenoids in feeds and supplements. The antioxidative feature and discovery of new health benefits of carotenoids makes it medically more viable giving a boost to the demand for carotenoids in medical sectors as well. However, factors such as inadequate number of suppliers in the market, high expenses incurred during extraction and mounting costs of raw materials are preventing the growth of the market.
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Partnerships and arrangements with raw material suppliers and traders to guarantee uninterrupted supply at discounted costs is the most adopted plan by the players in the market. Expansion of the company and putting up new plants to boost production capability is another tactic adopted by the key players. The major companies dominating the global Feed Carotenoid market are BASF SE, Chr. Hansen A/S, FMC Corporation, Kemin Industries Inc., Royal DSM N.V., and Behn Meyer Group.
The Feed Carotenoid market study offers the following deliverables:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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