Antioxidant awareness to drive carotenoid market
growth of the vitamin supplement market, according to market
analysts Frost & Sullivan. Total European carotenoids market to
grow from $375million (€428m) in 2001 to $448million by 2008.
The European carotenoids market looks set to reflect the robust growth of the vitamin supplement market, according to market analysts Frost & Sullivan.
Anna Ibbotson, Food Programme Manager with Frost & Sullivan, said: "We expect the health supplement market to experience growth rates of about 10 per cent. Carotenoids are included in most multivitamin and antioxidant mixes and will therefore benefit from the overall growth of the vitamin supplement market."
A new report from Frost & Sullivan forecasts that the total European carotenoids market will grow from $375million (€428m) in 2001 to reach over $448million by 2008.
Although carotenoids are also used in the feed and food ingredients market, it will be the increased awareness of their antioxidant properties that will drive sales of these supplements, claims the report.
"Many studies confirm the antioxidant properties of carotenoids and their effect on the health status of elderly people.
The effects of carotenoids are not yet well published in Europe, but in the long term, advertising campaigns are likely to raise public awareness.
The ageing European population constitutes a strong market potential for carotenoids, and the rise in awareness of their benefits amongst European consumers will likely be a strong driver behind the growth of the carotenoids market," said Ibbotson.
The report warned that manufacturers keen to increase revenues from carotenoids must raise the general awareness, across Europe, of the nutraceutical properties of carotenoids.
The report from Frost & Sullivan looks at the phytonutrients market across Europe and is segmented by the five most common phytonutrients groups: vitamin E, carotenoids, flavonoids, isoflavones and phytosterols.