Astaxanthin Market Forecast till 2028

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The primary driver fostering market expansion is astaxanthin’s diverse array of applications. Additionally, a growing global emphasis on preventative healthcare is driving astaxanthin sales in the pharmaceutical and nutraceutical sectors.

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Description

Global Astaxanthin Market Analysis

Market Overview

The global market for astaxanthin is likely to grow at a substantial rate during the forecast period of 2022-2028. A keto carotenoid pigment called astaxanthin is found in microalgae, yeast, trout, shrimp, and other marine life. It gives salmon fish their rosy colour and is most frequently found in salmon. It is primarily employed as an antioxidant and food colourant in a variety of application industries, including food and beverage, animal feed, medicines, nutraceuticals, and personal care.

The primary driver fostering market expansion is astaxanthin’s diverse array of applications. Additionally, a growing global emphasis on preventative healthcare is driving astaxanthin sales in the pharmaceutical and nutraceutical sectors.

Additionally, there are lucrative potential for producers of natural astaxanthin due to the increased demand for natural components across a variety of application industries. Additionally, the expansion of the aquaculture sector has created opportunities for the market for astaxanthin to increase in the years to come. The Astaxanthin Market, nevertheless, is being constrained by the high cost of astaxanthin production.

Segment Overview

The source, form, application, and regional segments have been used to divide the market for global astaxanthin market. The global market has been divided into natural and synthetic based on the source of astaxanthin. The synthetic segment will comprise the maximum share presently and likely to grow substantially.

The form segment has been divided into liquid and dry. Also, the application segment is segregated into pharmaceutical & nutraceuticals, animal feed, food & beverages, and personal care.

Regional Analysis

The astaxanthin market is segregated into Americas (North and South), Europe, Asia-Pacific, and the rest of the world. North America is expected to overcome the other regional players in terms of market share. The rising production and use of nutraceuticals can be linked to the expansion of the astaxanthin market in the Asia-Pacific region.

Drugs are more expensive than nutritional supplements. Additionally, it is anticipated that an increase in the consumption of nutraceuticals would be brought on by an ageing population in a number of Asia-Pacific nations, which will hasten the expansion of astaxanthin. Additionally, astaxanthin is a component of a number of functional foods.

The rising per capita disposable income, urbanisation, and increased worries about nutrition insufficiency are all contributing to an increase in the consumption of functional foods across the emerging nations of the Asia-Pacific region. Additionally, many producers of functional foods have begun to increase their output, which is anticipated to further support the expansion of the astaxanthin market in the Asia-Pacific region.

Major Players

Fiskars Group, Ribe Energy Machinery SL, ILAGA Supplies, Husqvarna AB, Falcon Garden Tools Pvt Ltd. and Stanley Black & Decker, Inc. are some of the affluent contenders holding sizeable astaxanthin market share.

COVID 19 Impacts

People’s life have been entirely turned upside down by the COVID-19 outbreak, which is growing quickly in cases every day. Different industries are affected by COVID-19 differently. In the midst of the pandemic’s pervasive fear and panic, customers are very anxious about monitoring their health. Despite the fact that vaccination rates are continuously rising worldwide, it is now crucial to increase immunity to combat the coronavirus in addition to keeping good hygiene and according to all established medical advice.

vitamins market | Astaxanthin Market

TABLE OF CONTENT

1 EXECUTIVE SUMMARY 14

1.1 MARKET ATTRACTIVENESS ANALYSIS 15

1.1.1 GLOBAL ASTAXANTHIN MARKET, BY SOURCE 16

1.1.2 GLOBAL ASTAXANTHIN MARKET, BY FORM 17

1.1.3 GLOBAL ASTAXANTHIN MARKET, BY APPLICATION 18

1.1.4 GLOBAL ASTAXANTHIN MARKET, BY REGION 19

2 MARKET INTRODUCTION 20

2.1 DEFINITION 20

2.2 SCOPE OF THE STUDY 20

2.3 RESEARCH OBJECTIVE 20

2.4 MARKET STRUCTURE 21

2.5 KEY BUYING CRITERIA 21

3 RESEARCH METHODOLOGY 22

3.1 RESEARCH PROCESS 22

3.2 PRIMARY RESEARCH 23

3.3 SECONDARY RESEARCH 24

3.4 MARKET SIZE ESTIMATION 24

3.5 FORECAST MODEL 26

3.6 LIST OF ASSUMPTIONS & LIMITATIONS 27

4 MARKET INSIGHTS 28

5 MARKET DYNAMICS 30

5.1 INTRODUCTION 30

5.2 DRIVERS 31

5.2.1 WIDE RANGE OF APPLICATIONS 31

5.2.2 GROWTH OF THE AQUACULTURE INDUSTRY 31

5.2.3 INCREASING FOCUS ON PREVENTIVE HEALTHCARE 32

5.2.4 DRIVERS IMPACT ANALYSIS 32

5.3 RESTRAINT 33

5.3.1 HIGH COST OF PRODUCTION 33

5.3.2 RESTRAINT IMPACT ANALYSIS 33

5.4 OPPORTUNITY 33

5.4.1 RISING DEMAND FOR NATURAL INGREDIENTS IN END-USE INDUSTRIES 33

6 MARKET FACTOR ANALYSIS 34

6.1 VALUE CHAIN ANALYSIS 34

6.1.1 ALGAE CULTIVATION 35

6.1.2 PROCESSING 36

6.1.3 PACKAGING 36

6.2 SUPPLY CHAIN ANALYSIS 37

6.3 PORTER’S FIVE FORCES MODEL 38

6.3.1 THREAT OF NEW ENTRANTS 38

6.3.2 BARGAINING POWER OF SUPPLIERS 39

6.3.3 BARGAINING POWER OF BUYERS 39

6.3.4 THREAT OF SUBSTITUTES 39

6.3.5 RIVALRY 39

6.4 IMPACT OF THE COVID-19 OUTBREAK ON GLOBAL ASTAXANTHIN MARKET 40

6.4.1 IMPACT ON PRODUCTION 40

6.4.2 IMPACT ON SUPPLY CHAIN 41

6.4.3 IMPACT ON PRICING 41

6.4.4 IMPACT ON END-USE APPLICATION AREAS 41

7 GLOBAL ASTAXANTHIN MARKET, BY SOURCE 42

7.1 OVERVIEW 42

7.1.1 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY SOURCE, 2021–2028 43

7.2 SYNTHETIC 44

7.2.1 SYNTHETIC: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 44

7.3 NATURAL 45

7.3.1 NATURAL: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 45

8 GLOBAL ASTAXANTHIN MARKET, BY FORM 46

8.1 OVERVIEW 46

8.1.1 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY FORM, 2021–2028 47

8.2 DRY 47

8.2.1 DRY: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 47

8.3 LIQUID 48

8.3.1 LIQUID: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 48

9 GLOBAL ASTAXANTHIN MARKET, BY APPLICATION 49

9.1 OVERVIEW 49

9.1.1 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021–2028 50

9.2 FOOD AND BEVERAGES 51

9.2.1 FOOD AND BEVERAGES: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 51

9.3 PHARMACEUTICAL AND NUTRACEUTICALS 52

9.3.1 PHARMACEUTICAL AND NUTRACEUTICALS: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 52

9.4 ANIMAL FEED 53

9.4.1 ANIMAL FEED: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 53

9.5 PERSONAL CARE 54

9.5.1 PERSONAL CARE: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2028 54

10 GLOBAL ASTAXANTHIN MARKET, BY REGION 55

10.1 OVERVIEW 55

10.2 NORTH AMERICA 57

10.2.1 US 59

10.2.2 CANADA 61

10.2.3 MEXICO 62

10.3 EUROPE 64

10.3.1 GERMANY 67

10.3.2 UK 68

10.3.3 FRANCE 70

10.3.4 SPAIN 71

10.3.5 ITALY 73

10.3.6 REST OF EUROPE 74

10.4 ASIA-PACIFIC 76

10.4.1 CHINA 79

10.4.2 JAPAN 80

10.4.3 INDIA 82

10.4.4 AUSTRALIA & NEW ZEALAND 83

10.4.5 REST OF ASIA-PACIFIC 85

10.5 REST OF THE WORLD 87

10.5.1 SOUTH AMERICA 89

10.5.2 MIDDLE EAST 91

10.5.3 AFRICA 92

11 COMPETITIVE LANDSCAPE 94

11.1 INTRODUCTION 94

11.1.1 MARKET STRATEGY ANALYSIS 94

11.2 COMPETITIVE BENCHMARKING 95

11.3 KEY DEVELOPMENTS & GROWTH STRATEGIES 96

11.3.1 PRODUCT LAUNCH 96

11.3.2 EXPANSIONS 96

11.3.3 AGREEMENT 97

11.3.4 PARTNERSHIP 97

11.3.5 ACQUISITION 97

11.3.6 PATENT 97

11.3.7 CERTIFICATION 98

12 COMPANY PROFILES 99

12.1 CARDAX, INC. 99

12.1.1 COMPANY OVERVIEW 99

12.1.2 FINANCIAL OVERVIEW 100

12.1.3 PRODUCTS OFFERED 100

12.1.4 KEY DEVELOPMENTS 101

12.1.5 SWOT ANALYSIS 101

12.1.6 KEY STRATEGIES 102

12.2 BASF SE 103

12.2.1 COMPANY OVERVIEW 103

12.2.2 FINANCIAL OVERVIEW 103

12.2.3 PRODUCTS OFFERED 104

12.2.4 KEY DEVELOPMENTS 104

12.2.5 SWOT ANALYSIS 104

12.2.6 KEY STRATEGIES 105

12.3 ALGA TECHNOLOGIES 106

12.3.1 COMPANY OVERVIEW 106

12.3.2 FINANCIAL OVERVIEW 106

12.3.3 PRODUCTS OFFERED 106

12.3.4 KEY DEVELOPMENTS 107

12.3.5 KEY STRATEGIES 107

12.4 ARCHER-DANIELS-MIDLAND COMPANY 108

12.4.1 COMPANY OVERVIEW 108

12.4.2 FINANCIAL OVERVIEW 109

12.4.3 PRODUCTS OFFERED 109

12.4.4 KEY DEVELOPMENTS 109

12.4.5 KEY STRATEGIES 110

12.5 KONINKLIJKE DSM NV. 111

12.5.1 COMPANY OVERVIEW 111

12.5.2 FINANCIAL OVERVIEW 111

12.5.3 PRODUCTS OFFERED 112

12.5.4 KEY DEVELOPMENTS 112

12.5.5 SWOT ANALYSIS 112

12.5.6 KEY STRATEGIES 113

12.6 CYANOTECH CORPORATION 114

12.6.1 COMPANY OVERVIEW 114

12.6.2 FINANCIAL OVERVIEW 114

12.6.3 PRODUCTS OFFERED 115

12.6.4 KEY DEVELOPMENTS 115

12.6.5 SWOT ANALYSIS 116

12.6.6 KEY STRATEGIES 116

12.7 BEIJING GINGKO GROUP 117

12.7.1 COMPANY OVERVIEW 117

12.7.2 FINANCIAL OVERVIEW 117

12.7.3 PRODUCTS OFFERED 117

12.7.4 KEY DEVELOPMENTS 117

12.7.5 SWOT ANALYSIS 118

12.7.6 KEY STRATEGIES 118

12.8 FUJI CHEMICAL INDUSTRIES CO., LTD 119

12.8.1 COMPANY OVERVIEW 119

12.8.2 FINANCIAL OVERVIEW 119

12.8.3 PRODUCTS OFFERED 119

12.8.4 KEY DEVELOPMENTS 119

12.8.5 KEY STRATEGIES 119

12.9 FENCHEM 120

12.9.1 COMPANY OVERVIEW 120

12.9.2 FINANCIAL OVERVIEW 120

12.9.3 PRODUCTS OFFERED 120

12.9.4 KEY DEVELOPMENTS 120

12.9.5 KEY STRATEGIES 120

12.10 OTSUKA HOLDINGS CO., LTD 121

12.10.1 COMPANY OVERVIEW 121

12.10.2 FINANCIAL OVERVIEW 121

12.10.3 PRODUCTS OFFERED 122

12.10.4 KEY DEVELOPMENTS 122

12.10.5 SWOT ANALYSIS 122

12.10.6 KEY STRATEGIES 123

13 REFERENCES 124

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