With the flooding demand in food industry, carotenoids as food additives are expected to witness a boom in the coming years. Carotenoids are used in treating several disorders like diabetes, aging, eye disorders, and cancer. The rising awareness about the use of carotenoids has thus boosted their demand in the global market. The compound finds applications in pharmaceutical sand nutraceutical manufacturing process, too.
Based on type, the global carotenoids market is likely to register a steady CAGR of 4.0% within the forecast period of 2018 to 2027. This growth is credited to the rising demand for natural and organic food among the masses. With increasing consciousness about the benefits of consuming organic products, several people across the globe are turning towards adopting clean and healthy eating habits, thus contributing to the growth of carotenoids market.
However, the global carotenoids market is expected to experience a decline in growth due to certain health risks associated with unregulated consumption and utilization of carotenoids in eatables. Moreover, according to a study published in Food Research International, the vegetable carotenoids in its powered form, when stored for long duration, reacts with oxygen. This can be harmful for the consumption purpose, and thus, hamper food industry. But, the drawback can be overcome by working on protecting the powdered carotenoids by oxygen infiltration.
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Anti-Carcinogenic properties of Carotenoids to Provide Wide growth Scope in Future
In 2015, cancer has resulted in around 8.8 mn deaths, with US$87.8 billion of expenditure for healthcare costs behind the treatment of cancer. As a result, the anti-carcinogenic properties of are additional factors behind its surging growth in the global market. Consuming yellow vegetables and beta-carotene-rich food are being rigorously researched to reduce to risks of lung cancer. Moreover, carotenoids for example, canthaxanthin and lycopene are also studies to prevent cancer of colon, lung, and prostate.