458
M. Honda
18.2 Nutraceutical and Pharmaceutical Applications
of Carotenoids
18.2.1 Market Size
The market size of carotenoids was valued at $1.5 billion in 2014 and is expanding
year by year, i.e., compound average growth rate (CAGR) from 2014 to 2019 is
estimated at 3.9% (Business Communications Company 2015). The aging of citizens
in developed countries is a serious social problem. Since carotenoids have preventive
effects against age-related diseases such as age-related macular degeneration and
Alzheimer type dementia, this aspect is considered to be boosting the demand for
carotenoids. In addition, the demands for natural food colorants and color-restoring
feed with carotenoids for farm animals and cultured fish drive the global carotenoids
market growth. Lycopene, β-carotene, astaxanthin, lutein, zeaxanthin, canthaxanthin,
and capsanthin are the major carotenoids, which are available commercially. The
carotenoid market would have several changes in recent years. Namely, the market
share for major carotenoids in 2010 was higher in the order of β-carotene (22%) >
lutein (20%) > astaxanthin (19%) > canthaxanthin (7%) > lycopene (6%) (Business
Communications Company 2011), whereas prospective that in 2021 would be higher
in the order of β-carotene (26%) > astaxanthin (25%) > lutein (18%) > canthaxanthin
(10%) > lycopene (6%) (Rammuni et al. 2019). The market size of astaxanthin has
growth potential and is expected to rise sharply owing to its increasing usage in a
antioxidant for health food and an animal and fish feed ingredient. Moreover, the
commercially available carotenoids are mainly synthesized chemically, whereas a
portion is obtained through natural sources such as fermentation and extraction from
plants or algae. Natural carotenoid category is anticipated to have the high growth in
the future due to the increase in consumer demand for natural products.
18.2.2 Distribution Form and Applications
Commercially available carotenoids are mainly distributed as the (1) dried ground
powder of carotenoid-rich plants, microalgae, and bacteria, (2) oil suspension (oleoresin or the diluted product by vegetable oil), (3) liquid or dried emulsion formulation,
and (4) beadlet formulation (high carotenoid concentrated powder). The carotenoid
concentration of the dried ground powders and emulsion formulations is around a few
weight percent (1–3 wt%). On the other hand, as for the oil suspensions and beadlet
formulation, products with various carotenoid concentrations are distributed, which
are normally from a few weight percent to 50 wt%. Generally, the prices of carotenoid
products are depending on the carotenoid content. The typical applications of each
formulation are shown below.
M. Honda
18.2 Nutraceutical and Pharmaceutical Applications
of Carotenoids
18.2.1 Market Size
The market size of carotenoids was valued at $1.5 billion in 2014 and is expanding
year by year, i.e., compound average growth rate (CAGR) from 2014 to 2019 is
estimated at 3.9% (Business Communications Company 2015). The aging of citizens
in developed countries is a serious social problem. Since carotenoids have preventive
effects against age-related diseases such as age-related macular degeneration and
Alzheimer type dementia, this aspect is considered to be boosting the demand for
carotenoids. In addition, the demands for natural food colorants and color-restoring
feed with carotenoids for farm animals and cultured fish drive the global carotenoids
market growth. Lycopene, β-carotene, astaxanthin, lutein, zeaxanthin, canthaxanthin,
and capsanthin are the major carotenoids, which are available commercially. The
carotenoid market would have several changes in recent years. Namely, the market
share for major carotenoids in 2010 was higher in the order of β-carotene (22%) >
lutein (20%) > astaxanthin (19%) > canthaxanthin (7%) > lycopene (6%) (Business
Communications Company 2011), whereas prospective that in 2021 would be higher
in the order of β-carotene (26%) > astaxanthin (25%) > lutein (18%) > canthaxanthin
(10%) > lycopene (6%) (Rammuni et al. 2019). The market size of astaxanthin has
growth potential and is expected to rise sharply owing to its increasing usage in a
antioxidant for health food and an animal and fish feed ingredient. Moreover, the
commercially available carotenoids are mainly synthesized chemically, whereas a
portion is obtained through natural sources such as fermentation and extraction from
plants or algae. Natural carotenoid category is anticipated to have the high growth in
the future due to the increase in consumer demand for natural products.
18.2.2 Distribution Form and Applications
Commercially available carotenoids are mainly distributed as the (1) dried ground
powder of carotenoid-rich plants, microalgae, and bacteria, (2) oil suspension (oleoresin or the diluted product by vegetable oil), (3) liquid or dried emulsion formulation,
and (4) beadlet formulation (high carotenoid concentrated powder). The carotenoid
concentration of the dried ground powders and emulsion formulations is around a few
weight percent (1–3 wt%). On the other hand, as for the oil suspensions and beadlet
formulation, products with various carotenoid concentrations are distributed, which
are normally from a few weight percent to 50 wt%. Generally, the prices of carotenoid
products are depending on the carotenoid content. The typical applications of each
formulation are shown below.