According to the report, The Rapid Adoption of Healthy Supplements among the People is one of the primary growth factors for the market. Expanding End-Use Applications
is also expected to contribute significantly to the Synthetic Carotenoids market. Overall, Feed
applications of Synthetic Carotenoids, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Formulations, such as Oil suspensions, is boosting the Synthetic Carotenoids market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Synthetic Carotenoids market identified that the demand is rising in many different parts of the world as "Awareness about the Medicinal Applications of Carotenoids
". Furthermore, some recent industry insights like "On 21 Aug 2018, BASF has launched the next generation of carotenoid formulations Lucantin NXT. The formulations replacing ethoxyquin (EQ) as stabilizer launched in the EU 28 market. New formulations show exceptional performance with high homogeneity, outstanding stability, and long shelf life. and On 16 Aug 2018, the European Commissions has approved DSM request to drop synthetic tag from the carotenoid ingredient. And given the go-ahead to rename the carotenoid zeaxanthin currently listed in the novel food register after an application by DSM Europe." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Synthetic Carotenoids market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Synthetic Carotenoids market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.