Global and Regional Canthaxanthin Market Research of Dynamic, Size and Share By Type, By Application, By Player and Forecast to 2029

1. Canthaxanthin Market Analysis

The global canthaxanthin market size will be $93.48 million in 2024. Canthaxanthin is a non-vitamin A-derived keto carotenoid with a characteristic orange-red color. Occurs naturally in many foods such as mushrooms, crustaceans, fish, and eggs. Canthaxanthin available on the market is mainly produced by chemical synthesis and is used as a colorant in human and animal feed products.

Global Canthaxanthin Market Size (Million USD)

2. Market Dynamics

Strength   

Because of its color and strong antioxidant activity, canthaxanthin is widely used in the medical, pharmaceutical, cosmetic, poultry, fishery, and food industries. The global egg industry, especially in Asia, has experienced accelerated growth over the past few years, leading to a proliferation of brands and market availability. The idea that golden yolks must come from healthy hens is becoming more widely accepted and as a result, consumers are seeking eggs with darker yolks, while sales of canthaxanthin are also being driven.

Weakness

Media and changes in consumer awareness. Interest in canthaxanthin is waning from the discovery that its excessive use can deposit tiny crystals in the human eye, a fact that has led to undesirable media attention in the past and some pressure to restrict its use in aquafeeds.

The threat of substitutes. Alternatives to canthaxanthin include astaxanthin as well as other pigments made from natural products. Due to the similarity of application areas, substitutes will occupy the market share of canthaxanthin.

Opportunities

Novel application of canthaxanthin may present opportunities for industry growth.

Technology breakthroughs. Canthaxanthin products currently available on the market are mainly produced through organic chemical synthesis. However, natural canthaxanthin is more popular among consumers because it is easily absorbed and does not involve chemical processes. The increasing number of canthaxanthin-producing microbial strains being isolated and purified has led to the potential for further expansion and development of natural canthaxanthin applications. Extraction of canthaxanthin from fermentation culture bacteria has the advantages of a fast reproduction rate, short production cycle, and more mature fermentation process, and it is easy to produce with high cell density. Therefore, technical breakthroughs in the production process may bring a new round of development opportunities for this product.

3. Market Segment

By type, the Synthetic Canthaxanthin segment accounts for the largest share.

Natural canthaxanthin is obtained by natural raw material extraction and biological fermentation production. Synthetic canthaxanthin is produced by chemical synthesis. Due to the production process and cost, the industrial production of canthaxanthin is mainly produced by chemical synthesis. Synthetic Canthaxanthin dominates the market with a market share of 61.13% in 2024, which is expected to decline slightly by 2029. Natural Canthaxanthin has a smaller market share of 38.87% in 2024 but is expected to continue to grow.

The relatively low production cost of synthetic canthaxanthin and the stable supply chain make synthetic canthaxanthin more competitive in the market. Because of its coloring and antioxidant properties, synthetic canthaxanthin is widely used in many industries, including animal feed, nutrition and health products, cosmetics, and so on. The growing demand in these application areas is driving the growth of the synthetic canthaxanthin market. With the increasing consumer interest in health and natural products, the demand for synthetic canthaxanthin as a natural pigment and nutritional supplement is growing, especially in the food and feed additives industry. The continuous progress of production technology of synthetic canthaxanthin has improved production efficiency and product quality and further promoted the expansion of market size. The increasing health awareness of consumers, especially in the nutraceutical and cosmetic industries, is driving the growth of the synthetic canthaxanthin market. Canthaxanthin is used in dietary supplements due to its potential benefits of improving skin health and reducing oxidative stress. The growth of the global aquaculture industry, especially the increasing dependence on carotenoids such as lutein, is also an important factor in the growth of the synthetic lutein market.

The feed segment leads the application fields.

Canthaxanthin, a carotenoid pigment, is widely used as an animal feed additive to enhance the color of egg yolks and poultry meat and to give salmon a rudder color. It can change the skin and fat of birds, and increase the color and brightness of the skin, feet, ketone bodies, and eggs. The addition of canthaxanthin can increase the market value of animal products, such as deepening the coloration of broiler feet and shins and promoting their sales. Adding canthaxanthin to the feed of laying hens can improve the color of egg yolk and enhance the market competitiveness of egg products. Canthaxanthin has antioxidant properties and can protect the cells in the animal body from the damage of free radical radiation. It may also improve the body’s immunity by improving the phagocytosis capacity of macrophages, promoting lymphocyte transformation, increasing the number of lymphocytes, and enhancing the vitality of natural killer cells. Studies have shown that canthaxanthin, in addition to its yolk pigmentation and antioxidant effects, can significantly increase egg weight, thereby increasing the productivity of the flock. In addition, canthaxanthin may also enhance fertility and immunomodulatory effects.

Market Size and Share in 2024 by Segment

4. Regional Market

European Commission Implementing Regulation (EU) No 684/2014 authorizes canthaxanthin as a feed additive for breeding hens, which provides regulatory support for the application of canthaxanthin in the European feed industry. The growing concern of European consumers for health and wellness is driving the growth of the canthaxanthin market. Increasing awareness of the adverse effects of synthetic additives is driving the shift to natural alternatives. The use of canthaxanthin in aquaculture, particularly to enhance pigmentation in salmon and trout, is an important growth driver. Due to the increasing demand from the food and beverage industry, especially natural colorants, the canthaxanthin market is expanding significantly. This trend is being driven by growing customer interest in clean labels and organic products, as well as increased use in cosmetics and animal feed.

Global Canthaxanthin Market Size ( M USD) by Region in 2024

5. Major Players

Royal DSM N.V.: Royal DSM is a global science-based company, engaged in offering health, nutrition, and materials. The Company’s segments include Nutrition, Performance Materials, Innovation Center and Corporate Activities. Its Nutrition segment includes DSM Nutritional Products and DSM Food Specialties. Its Performance Materials segment consists of DSM Engineering Plastics, DSM Dyneema, and DSM Resins and Functional Materials. The Company delivers its solutions in global markets, such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy, and bio-based materials. Royal DSM N.V. is one of the major players operating in the Canthaxanthin market, holding a share of 27.67% in 2024.

BASF SE: BASF SE is a Germany-based chemical company. The Company operates through six segments, which include Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. The Industrial Solutions segment consists of Dispersions & Pigments and Performance Chemicals divisions. The Surface Technologies segment consists of the Catalysts and Coatings divisions. The Nutrition & Care segment consists of Care Chemicals and Nutrition & Health divisions. The Agricultural Solutions segment consists of the Agricultural Solutions division, which focuses on the provision of crop protection products and seeds.

ZMC: ZMC is a large-scale joint-stock comprehensive pharmaceutical company established in May 1997. At present, ZMC has formed a professional and large-scale production of fat-soluble vitamins, vitamins, quinolone antibiotics, anti-drug-resistant antibiotics, and other products. The company’s leading products include synthetic vitamin E, natural vitamin E, β-carotene, canthaxanthin, vancomycin hydrochloride, and teicoplanin.

Divi’s Nutraceutical: Divi’s is engaged in manufacturing leading generic compounds, nutraceutical ingredients, and custom synthesis of APIs and intermediates. Divi’s Nutraceuticals manufactures carotenoid and vitamin product forms of Beta-Carotene, Lycopene, Lutein, Apocarotenal, Canthaxanthin, Astaxanthin, and Vitamins D, A & E.

Allied Biotech Corporation: Allied Biotech Corporation is a Taiwan-based company principally engaged in the research and development, manufacturing, and sales of carotenoid products and other nutraceutical products, manufacturing of precision chemical materials, and manufacturing and wholesale of environmental medicines. The Company’s nutraceutical products include healthcare products for humans, nutraceutical products for animals, veterinary drugs, pharmaceutical cosmetics, and biotechnology products, among others. Its carotenoids are applied in the processing of food and beverage products. Its major products include beta-carotene, canthaxanthin, lycopene, lutein, coenzyme Q10, natural vitamin E, and food additives, among others. The Company distributes its products within domestic markets and to overseas markets, including the rest of Asia, Europe, and the Americas.

Major Players