Global Astaxanthin Market Size was valued nearly USD 555.4 million by 2017 and is estimated to reach up to USD xx.xx million by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 5.31% during the forecast period, i.e. 2017-2025. Astaxanthin is a naturally occurring carotenoid pigment that is found in certain plants and animals such as algae, crab, salmon and others. Astaxanthin belongs to xanthophyll family of carotenoids and is known as one of the vital naturally occurring anti-oxidants. Global astaxanthin market is projected to grow significantly during the forecast period, owing to the product’s health benefits as well as technology advancements regarding the product manufacture.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global astaxanthin market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global astaxanthin market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Market Dynamics:

Global astaxanthin market is anticipated to grow during the forecast period, due to high product demand from food supplements and animal feed, owing to their high nutritive and anti-oxidant properties, coupled with increased governmental support to products containing astaxanthin. In 2011, Cyanotech Corp received the FDA approval to increase the daily dosage of its natural astaxanthin ingredient in dietary supplement from 7.8 mg to 12 mg. Availability of a range of natural and synthetic source of extractions like algae, crab, salmon, etc, along with improved extraction methodologies like microalgae cultivation, extraction and drying is also anticipated to drive the market growth.  Furthermore, adoptation of astaxanthin by personal care industry in manufacturing skin rejuvenating and anti-ageing creams, due to its anti-oxidant properties and skin-friendly nature is anticipated to drive the growth of astaxanthin market. However, high production costs associated with the manufacturing of astaxanthin from natural sources, coupled with limited availability of raw materials such as algae and yeast might restrain the global astaxanthin market growth.

Segment Analysis

Source Insights: Synthetic sources for astaxanthin extraction might dominate the market, due to the presence of advanced chemical synthesis methods like hydroxylation of canthaxanthin and isomerization of lutein, coupled with less complexity associated with synthetic astaxanthin production. For instance – chemical synthesis of astaxanthin requires 5 times less energy as compared to algal induction, and 6 times less energy as compared to yeast fermentation. Other reasons for the market dominance of synthetically astaxanthin, is the low cost of production and less energy utilization as compared to production through natural sources such as yeast and algae. Astaxanthin production from natural sources is anticipated to grow over the forecast period, due to higher focus on biologically active compounds derived from natural sources, coupled with their growing consumption in the production of dietary supplements such as BioAstin Hawaii Astaxanthin and Nutricost Astaxanthin for human consumption.

Application Insights: Global astaxanthin market for animal feed is expected to account for the largest share over the projected period, due to the increasing product requirements for aquafeed and governmental support, in upliftment of aquaculture, which has become one of the major sources of food across the globe. According to the United Nations Food and Agriculture Organization (FAO 2016), aquaculture is forecast to account for more than half the world’s fish production by 2020-21, which indicates its crucial role in meeting global seafood demand. Furthermore, dietary supplements segment is expected to grow significantly, due to rising awareness regarding the health benefits offered by astaxanthin consumption such as enhanced plasma concentration, presence of vitamin, skin rejuvenation, and others.

By Form Insights: The astaxanthin is widely produced in liquid as well as dried powder form. Astaxanthin powder is widely used by manufacturers to produce various products such as astaxanthin capsule, astaxanthin oil and astaxanthin emulsions, to be supplied in various industries. The production of dried astaxanthin or astaxanthin powder is comparatively complex than liquid astaxanthin production, as astaxanthin is originally found in liquid form, hence advanced technologies are used to compose their powdered form. H. pluvialis is a widely used algal biomass powder which is used in various industries like pharmaceutical, cosmetics, food supplements, and others.

Regional Analysis:

The global vertical farming market is divided into regions that are North America - U.S, Canada, Other) (Asia-Pacific -India, Japan, China, Australia, Other) (Europe - UK, Russia, France, Brazil, Other) (Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America is expected to hold the major share in the global astaxanthin market, due to presence of health conscious population, coupled with presence of key manufacturers like BGG, BlueOcean NutraSciences, Cardax Inc., and others. Asia Pacific is expected to show significant growth over the forecast period in Astaxanthin market, due to continuous development in the pharmaceutical sector in developing countries like India and China, coupled with presence of major market players like Fuji Chemical Industry Company Limited and YunNan Alphy Biotech Co., Ltd in the region. According to International Trade Organization, pharmaceutical market in China is expected to grow from $108 billion in 2015 to $167 billion by 2020.

Global Astaxanthin Market Size, Share Analysis By Region 2017

Astaxanthin Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.

Astaxanthin Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in Astaxanthin market are included as primary sources of the supply side.

After performing comprehensive engineering of Astaxanthin market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Competitive Landscape

Key market players operating in Astaxanthin market include Cyanotech Corporation, BlueOcean NutraSciences, Inc., Beijing Ginko Group (BGG), BASF SE, IGENE Corporation, Parry Neutraceuticals, JX Nippon Oil and Energy Corporation, Cardax, Fuji Chemical Company, and Heliae Development, LLC. Significant health benefits associated with Astaxanthin is encouraging key players to involve in merger activities with specialty product manufacturers, in order to enhance their business and to reach out to most of industries. For instance, On May 17 2018, BGG and Solix Algredients merged to form a new company which will supply functional ingredients sourced from nature to various industries such as food & beverage, personal care and feed market. The product portfolio exclusively includes Astaxanthin, Vitamin E Tocotrienols, apple polyphenols, and others. With this merger, BGG aims at strengthening their leadership in antioxidants market along with expanding their capabilities into new markets and applications.

Global Astaxanthin Market Study Report Offer You!

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