Canthaxanthin Market Size

Canthaxanthin Market Size

Canthaxanthin Market size was valued at USD 135 million in 2023 and is anticipated to register a CAGR of over 2.6% between 2024 and 2032. Proliferating demand for cosmetics and personal care products coupled with high acceptance from animal feed application for improving the colour of egg yolks, chicken, trout, and salmon will primarily drive the industry growth. Canthaxanthin possesses excellent medicinal properties and is used for treating rashes and itching, further gaining customers attention, thus improving demand. Shifting consumer inclination towards high quality dairy and meat products is another factor positively impacting the market.

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Continuous upsurge in carotenoids industry owing to their easy availability and provision of nutritional & health benefits from lycopene, lutein, canthaxanthin, and zeaxanthin consumption will also add to the revenue generation. The product delivers multiple benefits such as reduction of sunlight sensitivity to the people suffering from erythropoietic protoporphyria (EPP). The sunlight can cause skin allergies including eczema, rashes, and itching in these patients. This results in improved product sales, supporting market growth.
 

High product usage may lead to harmful effects to the skin and body, that may hamper the industry growth over the forecast timeframe. Canthaxanthin is unsafe for woman during pregnancy. Moreover, it is unsafe if taken in excessive amount, causing diarrhoea, stomach cramps, nausea, and aplastic anaemia. It can also cause vision loss or eye damage if taken in surplus.