Astaxanthin Market

Astaxanthin Market Forecasts to 2028 – Global Analysis By Product (Powder, Tablet), Application (Pharmaceuticals, Personal Care & Cosmetics, Food & Beverage, Animal Feed) and By Geography

4.4 (29 reviews)
Published: May 2021 ID: SMRC20545
4.4 (29 reviews)
Published: May 2021 ID: SMRC20545

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Astaxanthin Market is accounted for $695.94 million in 2020 and is expected to reach $1,356.47 million by 2028 growing at a CAGR of 8.7% during the forecast period. Factors such as increasing demand for cosmetic products, growing preference for dietary supplements, increasing prevalence of diabetes and cardiovascular diseases are driving the growth of the market. However, stringent guidelines regarding the product usage in various human consumption products are hampering the growth of the market.

Astaxanthin is a reddish keto carotenoid pigment that occurs in microalgae, yeast, trout, shrimp, and other sea creatures. It is regarded as a potential antioxidant that has proven its ability to protect human cells from inflammation and oxidation. It is over 500 times stronger than vitamin E and is much more effective than other carotenoids such as lutein and lycopene.

Based on the source, the natural source segment is going to have a lucrative growth during the forecast period owing to the increasing demand for natural food supplements coupled with the high yield of carotenoids. By geography, Asia Pacific is expected to grow at a faster rate during the forecast period due to the growing awareness about astaxanthin among healthcare professionals and the existence of a large population suffering from nutritional deficiency.

Some of the key players profiled in the Astaxanthin Market include BASF SE, Fuji Chemical Industries Co Ltd, Koninklijke DSM N.V., Cyanotech Corporation, Divis Laboratories Ltd, Otsuka Pharmaceutical Co Ltd, Algatechnologies, Valensa International, Supreme Biotechnologies, Igene Biotechnology Inc, AstaReal, Piveg Inc, Cardax Inc, Beijing Ginko Group (BGG), and Fenchem Biotek Ltd.

Sources Covered:
• Natural Source
• Petroleum (Synthetic)

Grades Covered:
• < 94%
• 95-97%
• > 98%   

Methods of Production Covered:
• Bacterial Fermentation
• Chemical Synthesis 

Forms Covered:
• Dry
• Liquid

Products Covered:
• Powder
• Tablet
• Dried Algae Meal or Biomass
• Carotenoid Complexes
• Emulsion
• Oil or Oleoresin
• Soft Gel
• Energy Drinks 

Applications Covered:
• Pharmaceuticals
• Nutraceuticals
• Personal Care & Cosmetics
• Food & Beverage
• Animal Feed
• General Wellbeing

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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