Peels and seeds are byproducts generated during the processing of fruits and vegetables that have been cut off or rejected in the food industry. Pumpkin peels are an example of products that provide valuable nutritional aspects but that have low commercial value. This work aimed at recovering carotenoids from pumpkin peels to produce valuable powders. The pumpkin peel flour was obtained from convective drying and milling processes. Liquid-solid extraction produced the ethanol raw extract with a high carotenoid content. Carotenoid extract and Arabic gum suspensions were mixed in proportions of 1:2, 1:3, or 1:4 w/w. Emulsions produced via Ultra-Turrax (UT) and Ultra-Turrax plus high pressure (UTHP) were evaluated and spray dried. The particles carotenoid concentrations varied from 159.1 to 304.6 µg/g and from 104.3 to 346.2 µg/g for samples primarily produced via UT and UTHP, respectively. UTHP 1:3 particles showed the lowest degradation of carotenoids during 90 days of storage, with a retention index of 79%. The homogenization and spray drying techniques were proven to be suitable steps to preserve the carotenoids recovered from the byproduct studied. Microparticles can be used as a natural dye with potential use in food, pharmaceuticals, and cosmetics.