A recent report by Business Communications Co. Inc. (BCC, Norwalk, Conn.) finds the market for all commercially used carotenoids at about $887 million. Furthermore, RGA-110R The Global Market for Carotenoids predicts the ingredient's market will grow at an average annual rate of 2.9%, to break the $1 billion barrier by 2009.
The report attributes the growth to the over-the-counter sector, which has become one of the fastest-growing outlets for the ingredients, due in large part to the antioxidative properties of carotenoids. The most important market is food, due to the widespread use as colorings. Supplement usage is second, with all other applications of fairly low importance. The increased competition from Asia is producing price pressures and will serve to moderate growth.