The Global Cryptoxanthin Market Growth is Accelerated by Increased Health Consciousness

 

Cryptoxanthin is a naturally occurring carotenoid pigment found in some fruits and vegetables that may promote health. It is reputed to have anti-inflammatory and antioxidant properties. Consumers are increasingly demanding food products fortified with cryptoxanthin due to its potential health benefits such as reducing the risk of various diseases. The global Cryptoxanthin Market is estimated to be valued at US$ 740 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing demand for nutritional supplements containing cryptoxanthin is a major trend driving the growth of this market. Many supplement manufacturers are strategically incorporating cryptoxanthin into their products aimed at health-conscious consumers. Clinical studies have shown promising results for cryptoxanthin's anti-cancer and cardio-protective effects. Supplements offer a convenient means for people to supplement their diets and help meet their nutrients needs including cryptoxanthin through tablets, capsules and powders. The growing supplement industry is thus fueling higher consumption of cryptoxanthin extracts.

Segment Analysis
The global cryptoxanthin market is dominated by the food segment. Within the food segment, the dietary supplement sub-segment holds around 40% of the market share owing to increased health consciousness among consumers. Cryptoxanthin, being a carotenoid, is widely used in dietary supplements as it has various health benefits such as skin protection from UV rays and reducing the risk of certain cancers.

Key Takeaways
The Global Cryptoxanthin Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 5.7% during the forecast period to reach a size of US$ 1,240 Mn by 2030 from US$ 740 Mn in 2023.

Regional analysis: North America dominates the global cryptoxanthin market with over 35% share in 2023 owing to increased use of dietary supplements rich in carotenoids. Asia Pacific is expected to be the fastest-growing market during the forecast period due to rising disposable incomes and changing lifestyles in emerging economies like China and India. Japan is expected to remain the dominant regional market in Asia Pacific.

Key players: Key players operating in the cryptoxanthin market are BASF, DSM, Kemin Industries, Naturex, Synthite Industries, Aarkay Food Products, Dohler, Sensient Technologies, and Vitablend. BASF is the global market leader with a market share of around 25% in 2023. Kemin Industries and DSM are other major players focusing on new product launches in the food and beverage segment.

For More Insights, Read: https://www.newsstatix.com/cryptoxanthin-market-size-share-and-growth-forecast-2023-2030/