The key players identified in the global carotenoids market include BASF SE (Germany), Royal DSM N.V. (The Netherlands), Chr. Hansen A/S (Denmark), FMC Corporation (U.S.), Kemin Industries, Inc. (U.S.), and Cyanotech Corporation (U.S.). Along with these companies, the other players that have a strong presence in the carotenoids market include D.D. Williamson & Co., Inc. (U.S.) Allied Biotech Corporation (Taiwan), ExcelVite Sdn. Bhd. (Malaysia), and Döhler Group (Germany).
The key market players have adopted strategies such as agreements, expansions & investments, acquisitions, new product and technology launches, collaborations and joint ventures to increase their market presence and revenue generation of the companies. Leading players focus on strengthening their R&D proficiency by capitalizing in advanced technologies and entering into R&D agreements with other companies to develop diversified product portfolios of carotenoid products.
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The core strengths of the key players in this market are new product developments and launches, and entering into strategic agreements related to R&D, licensing, supply, and investments to expand their business geographically. The global players have established large distribution networks all over the globe and are following extensive cross-selling marketing strategies. Market leaders such as BASF SE, Royal DSM N.V., Chr. Hansen A/S, FMC Corporation, and Kemin Industries, Inc. have successfully tapped the potential markets through the development of innovative products, partnership agreements, and expansions. These key companies focus on introducing and offering a wide range of carotenoid types on a regional as well as a global level to strengthen and expand their position in the carotenoids market.
In 2015, Kemin Industries, Inc. (U.S.) introduced a new organic lutein ORO GLO for North American egg producers. The product specializes in intensifying the color of egg yolks, and adds lutein content to make it more nutritious. This product will help increase the profitability of the company. Kemin Industries, Inc. is a leading company in the biosciences segment with a wide product portfolio of different types of carotenoids. The company has also adopted expansions and new product launches as its growth strategies to expand its business in the field of carotenoids.
Another key player, BASF SE (Germany) expanded its business in China in May 2016, by opening a new innovation center for Asia-Pacific designing activities. This center helps the company to intensify its research activities in Asian countries for coatings solutions, care chemicals, construction chemicals, pigments, and leather chemicals thus increasing the profitability and product innovation. Likewise, in 2014, it opened a nutrition and health application center in Sao Paulo, South America. This helped expand the company’s global innovation network for food and pharmaceutical industries.
Royal DSM N.V. (The Netherlands) is also making its presence strong in the carotenoids market. In 2015, it collaborated with the University Medical Center Groningen (UMCG) to conduct health aging and nutrition mapping research. This collaboration would help the company in understanding the need of various nutrients and accordingly help innovate and produce the necessary carotenoid and other nutritious products. In 2014, the company signed a partnership agreement with Kemin Industries, Inc. (U.S.) for the production of naturally sourced zeaxanthin and lutein for key health benefits. The companies launched a brand named OPTISHARP natural brand as a part of the partnership.
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