Global Apocarotenal Market - 2022-2029

Global Apocarotenal Market - 2022-2029

Market Overview

Apocarotenal, which is also known as trans-apo-8'-carotenal, is red to orange pigment that is obtained from citrus fruits including orange, lemon, sweet lime, and spinach. It is a kind of carotenoid that contains a lot of vitamins, including vitamin A. Producing food items like processed cheese is seen to be excellent in this situation. Demand for apocarotenal is rapidly increasing across the food & beverage industry, owing to its excellent food preserving properties and ability to increase the shelf life of the food and beverages products. In addition to this, the growing market player's emphasis on increasing the production capacity of apocarotenal to capitalize on the surging demand is anticipated to drive the growth in the market.

The global apocarotenal market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Market Dynamics:

Increasing awareness of health benefits of apocarotenal is driving the market growth

As a result of rising alcohol consumption, opioid use, and smoking rates around the world, the burden of chronic diseases like cancer, Alzheimer's disease, asthma, macular degeneration, and others has increased significantly. This has increased the demand for ancillary therapy supplements. For instance, a study by the World Cancer Research Fund International found that in the year 2020, almost 18.1 million new cases of cancer were reported globally, with lung and stomach cancer accounting for 2.2 million and 1.08 million cases, respectively. The growing prevalence of chronic diseases is anticipated to support market sales of apocarotenal, which is widely employed in the creation of therapeutic supplements for the treatment of the aforementioned disorders due to its high antioxidant and cancer-fighting qualities.

The expensive cost of these carotenoids and the widespread availability of alternatives like lycopene, zeaxanthin, beta-cryptoxanthin, and others are impeding apocarotenal sales in the global market, even though there are many benefits connected with their consumption and use.

Market Segmentation: Food & beverages accounts for the highest share in global apocarotenal market

Apocarotenal is widely utilized in the food and beverage sector since it is available in a nature-identical form and, when taken in the right quantities, poses no risk to humans. The product has higher color stability and ease of use when compared to some natural pigments, making it perfect for usage in beverages and foods like processed cheese. Additionally, there are several variations of apocarotenal on the market, which offers practically every food product—from cosmetics and pharmaceuticals to jellies, confections, dairy products, and foods high in fat like sauces and salad dressings—the ideal hue.

Geographical Penetration: North-America is the dominating region during the forecast period

The demand for ready-to-eat and packaged food products including baked goods, confectionary, and dairy products is on the rise due to rising disposable income, escalating hectic lifestyles, and increased propensity for convenient food & beverage products. Growing consumption of the aforementioned items is anticipated to support sales in the North American market as apocarotenal is used more frequently in the creation of smoothies, cheese, cookies, pastries, and other foods. Further boosting the demand for natural colouring agents like apocarotenal in North America is the enforcement of strict norms & standards by regulatory organisations governing the usage of artificial colouring agents.

During the projected period, Europe is anticipated to hold a sizable portion of the worldwide apocarotenal market. Due to the expanding use of screen-based gadgets like smartphones, laptops, tablets, and other devices, the prevalence of eye-related disorders is fast rising throughout nations including the U.K., Germany, France, and others. For instance, the Royal National Institute of Blind People (RNIB) estimates that there are approximately 850,000 dementia sufferers in the United Kingdom. A growing burden of eye-related disorders is predicted to favour market growth in Europe since apocarotenal, which has a high vitamin A concentration, is essential in the production of drugs to treat these conditions.

Competitive Landscape:

The market for apocarotenal has been growing rapidly. Some of the leading players in the global Apocarotenal food coloring market include D.D. Williamson & Co., Inc., DSM Nutritional Products Ltd., Spectrum Chemical Manufacturing Corp., BASF Corp., Divi's Laboratories Europe AG, Allied Biotech Corp., Kanegrade Ltd. Product launches have been essential to the market's expansion. Beneo released Sweet Collection in February 2020, a collection of sugar-free candies with real flavors. As a nature-identical ingredient for beverages, dairy products, and confections, BASF Corp. introduces Apocarotenal 2 CWD. These coloring shades don't depend on pH. They can therefore be used at modest dosages. Additionally, it is free of allergies. This is a more developed kind of apocarotenal

COVID-19 Impact: Negative impact on the global apocarotenal market

As the global pandemic leads to the closure of the manufacturing unit, the generation of apocarotenal was affected during the COVID-19 pandemic, affecting the volume of production. In addition, demand is expected to increase due to their medicinal benefits. Manufacturers faced challenges in the supply of raw materials as well as labor shortages in their production plants. Another major concern of exporters is the delay in the opening of ports around the world. Furthermore, the retail sector has also been severely affected by this pandemic.

The global apocarotenal market report would provide an access to approximately 53 market data tables, 41 figures and 170 pages