A process of extracting carotenoids from a source of fruit or vegetable processing waste including the steps of: admixing the source, a first organic solvent and a surfactant to form a slurry, whereby surface tension in tissue cell structure of the source is decreased, enhancing penetration of the surfactant into the tissue cell structure so that the carotenoids and the surfactant may form a combination; treating the slurry with a second organic solvent which solubilizes the combination; separating the treated slurry into a liquid fraction and a solid fraction; and separating a first portion from the liquid fraction, the first portion including a solution of the second organic solvent and the combination.