Astaxanthin Market
PUBLISHED: 2023 ID: SMRC22723
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Astaxanthin Market

Astaxanthin Market Forecasts to 2028 - Global Analysis By Product (Oil, Liquid, Softgel and Dried Algae Meal or Biomass), Source (Natural and Synthetic), Production Technology, Application and By Geography

4.3 (54 reviews)
4.3 (54 reviews)
Published: 2023 ID: SMRC22723

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

2020-2028

Estimated Year Value (2022)

US $864.2 MN

Projected Year Value (2028)

US $1,651.6 MN

CAGR (2022 - 2028)

11.3%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Astaxanthin Market is accounted for $864.2 million in 2022 and is expected to reach $1,651.6 million by 2028 growing at a CAGR of 11.3% during the forecast period. A molecule called a carotenoid, astaxanthin is present in some marine plants and animals. Plants receive their colour from a class of pigment called carotenoid. Astaxanthin, which can be used as a source for dietary supplements, is abundant in algae. Some seafood are coloured red or pink by astaxanthin. Antioxidant astaxanthin aids in lowering oxidation levels in the human body. As a result, producers are using astaxanthin in the production of functional foods and other goods, which is anticipated to stimulate the growth of the worldwide market.

According to China’s Fishery Report, China remained the world’s largest seafood producer with a production of 65.49 million metric tons. According to India Brand Equity Foundation (IBEF), Indian pharmaceuticals industry is expected to generate US $55 billion.



Market Dynamics:

Driver:

Growing demand for organic foods

Organic food demand is always rising, largely as a result of consumer perceptions that organic food is safer and healthier than conventional food. Due to growing consumer awareness of organic products and the advantages of natural food colours for health, natural food colours are increasingly preferred over synthetic food colours. Consumers increasing health awareness and increased preference for environmentally friendly items are fueling market demand.

Restraint:

Strict regulations

Astaxanthin product approval guidelines are very strict. To release their drug, companies must abide by numerous national and international regulations. The use of food and beverages containing astaxanthin has been impeded by government-imposed restrictions and regulations regarding the intake of these compounds, which prolong the approval process of these substances. However, one of the factors impeding market expansion is the high production cost caused by the scarcity of raw materials.

Opportunity:

Increasing use of astaxanthin

Aquaculture, humans, and animals can all benefit from astaxanthin as a nutritional supplement. Astaxanthin has been widely employed in feed additives and the medical industry because of its antioxidant, colouring, and health-promoting properties. There is mounting evidence that astaxanthin, because of its diverse collective functions in skin biology, offers a number of health benefits and important nutraceutical uses in dermatology. These factors are propelling the growth of the market.

Threat:

Risks associated with adulteration

The environment, people, and animals are all in grave peril from adulterated astaxanthin. Animals, unlike plants, cannot generate astaxanthin on their own and must consume it through diet. Furthermore, due to its expensive and labor-intensive production procedure from microalgae, natural astaxanthin may be extremely difficult to develop. Thus, adulteration poses a significant challenge to the growth of the market.

Covid-19 Impact

The COVID-19 epidemic increased consumer demand for astaxanthin-containing goods. Many medical professionals recommended using natural astaxanthin since it is an effective anti-oxidant and anti-inflammatory ingredient that speeds up recovery and boosts patients' gut and overall health as a result of the corona virus' weakening effects on immune systems. Also, the rising prevalence of obesity increased consumer preference for astaxanthin food supplements, which are known to promote metabolism and decrease toxins in the digestive system. This had a favourable impact on the industry environment.

The dried algae meal segment is expected to be the largest during the forecast period

The dried algae meal or Biomass segment is estimated to have a lucrative growth, due to the growing demand for algal astaxanthin. Such a high share is due to its wide availability. Few of its natural sources include Krill oil, and Xantho-phyllomyces dendrorhous. The use of biomass for the production of other formulations, the necessity of minimal downstream processing, higher use as animal feed, and convenient bulk production are some key factors driving the segment’s growth.

The nutraceuticals segment is expected to have the highest CAGR during the forecast period

The nutraceuticals segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increased demand for natural astaxanthin in nutritional products and better antioxidant properties of astaxanthin than other available food supplements. In addition, unhealthy lifestyles, a rapidly aging population, and insufficient intake of essential nutrients are propelling the demand for nutraceuticals.

Region with Largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the presence of highly proactive consumers. High unmet demands, rising astaxanthin production in the area, rising R&D spending, and economic expansion are some of the main factors driving up demand for these items in the area. Also, it is projected that rising urbanisation, high disposable income, and rising interest in natural astaxanthin will boost the market in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the increasing prevalence of nutrition & skin-related diseases. The market is expected to be driven by rapid urbanisation, high consumer discretionary income levels, and rising interest in natural products. Furthermore, a large number of health-conscious people, an increase in the adoption of nutraceuticals, and a well-established cosmeceutical industry are some of the major factors accelerating market growth in the region.



Key players in the market

Some of the key players profiled in the Astaxanthin Market include BASF SE, Beijing Ginko Group, Koninklijke DSM N.V., Cyanotech Corporation, Atacama Bio Natural Products S.A., ENEOS Corporation, Algalíf Iceland ehf, Fuji Chemical Industries Co., Ltd, Algatech Ltd, Divi Laboratories Ltd., Beijing Gingko Group, DSM NV., JXTG Nippon Oil & Energy Corporation, Algaecan Biotech Ltd, Griffon Corporation Inc. and Stanley Black & Decker Inc.

Key Developments:

In October 2020, Cyanotech Corporation launched a water-dispersible powder form of BioAstin, available in both 1% and 2% concentrations. It is free-flowing and dispersible in either hot or cold water.

In May 2019, Algatech LTD has launched a micro-encapsulated natural astaxanthin powder that is formulated for vision and brain health. This would help the company cater to new segments, strengthening its market presence.

Products Covered:
• Oil
• Liquid
• Softgel
• Dried Algae Meal

Sources Covered:
• Natural
• Synthetic

Production Technologies Covered:
• Yeast Production
• Algal Production
• Chemical Production
• Fermentation

Applications Covered:
• Cosmetics
• Pharmaceuticals
• Aquaculture and Animal Feed
• Food and Beverages
• Dietary Supplements
• Nutraceuticals

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 UAE
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 2020, 2021, 2022, 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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Astaxanthin Market, By Product
5.1 Introduction
5.2 Oil
5.3 Liquid
5.4 Softgel
5.5 Dried Algae Meal or Biomass

6 Global Astaxanthin Market, By Source
6.1 Introduction
6.2 Natural
6.2.1 Yeast & Microbes
6.2.2 Plants
6.2.3 Marine Animals
6.3 Synthetic

7 Global Astaxanthin Market, By Production Technology
7.1 Introduction
7.2 Yeast Production
7.3 Algal Production
7.4 Chemical Production
7.5 Fermentation

8 Global Astaxanthin Market, By Application
8.1 Introduction
8.2 Cosmetics
8.3 Pharmaceuticals
8.4 Aquaculture and Animal Feed
8.5 Food and Beverages
8.6 Dietary Supplements
8.7 Nutraceuticals

9 Global Astaxanthin Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 BASF SE
11.2 Beijing Ginko Group
11.3 Koninklijke DSM N.V.
11.4 Cyanotech Corporation
11.5 Atacama Bio Natural Products S.A.
11.6 ENEOS Corporation
11.7 Algalíf Iceland ehf
11.8 Fuji Chemical Industries Co., Ltd
11.9 Algatech Ltd
11.10 Divi Laboratories Ltd.
11.11 Beijing Gingko Group
11.12 DSM NV.
11.13 JXTG Nippon Oil & Energy Corporation
11.14 Algaecan Biotech Ltd
11.15 Griffon Corporation Inc.
11.16 Stanley Black & Decker Inc.

List of Tables
1 Global Astaxanthin Market Outlook, By Region (2020-2028) ($MN)
2 Global Astaxanthin Market Outlook, By Product (2020-2028) ($MN)
3 Global Astaxanthin Market Outlook, By Oil (2020-2028) ($MN)
4 Global Astaxanthin Market Outlook, By Liquid (2020-2028) ($MN)
5 Global Astaxanthin Market Outlook, By Softgel (2020-2028) ($MN)
6 Global Astaxanthin Market Outlook, By Dried Algae Meal or Biomass (2020-2028) ($MN)
7 Global Astaxanthin Market Outlook, By Source (2020-2028) ($MN)
8 Global Astaxanthin Market Outlook, By Natural (2020-2028) ($MN)
9 Global Astaxanthin Market Outlook, By Yeast & Microbes (2020-2028) ($MN)
10 Global Astaxanthin Market Outlook, By Plants (2020-2028) ($MN)
11 Global Astaxanthin Market Outlook, By Marine Animals (2020-2028) ($MN)
12 Global Astaxanthin Market Outlook, By Synthetic (2020-2028) ($MN)
13 Global Astaxanthin Market Outlook, By Production Technology (2020-2028) ($MN)
14 Global Astaxanthin Market Outlook, By Yeast Production (2020-2028) ($MN)
15 Global Astaxanthin Market Outlook, By Algal Production (2020-2028) ($MN)
16 Global Astaxanthin Market Outlook, By Chemical Production (2020-2028) ($MN)
17 Global Astaxanthin Market Outlook, By Fermentation (2020-2028) ($MN)
18 Global Astaxanthin Market Outlook, By Application (2020-2028) ($MN)
19 Global Astaxanthin Market Outlook, By Cosmetics (2020-2028) ($MN)
20 Global Astaxanthin Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
21 Global Astaxanthin Market Outlook, By Aquaculture and Animal Feed (2020-2028) ($MN)
22 Global Astaxanthin Market Outlook, By Food and Beverages (2020-2028) ($MN)
23 Global Astaxanthin Market Outlook, By Dietary Supplements (2020-2028) ($MN)
24 Global Astaxanthin Market Outlook, By Nutraceuticals (2020-2028) ($MN)
25 North America Astaxanthin Market Outlook, By Country (2020-2028) ($MN)
26 North America Astaxanthin Market Outlook, By Product (2020-2028) ($MN)
27 North America Astaxanthin Market Outlook, By Oil (2020-2028) ($MN)
28 North America Astaxanthin Market Outlook, By Liquid (2020-2028) ($MN)
29 North America Astaxanthin Market Outlook, By Softgel (2020-2028) ($MN)
30 North America Astaxanthin Market Outlook, By Dried Algae Meal or Biomass (2020-2028) ($MN)
31 North America Astaxanthin Market Outlook, By Source (2020-2028) ($MN)
32 North America Astaxanthin Market Outlook, By Natural (2020-2028) ($MN)
33 North America Astaxanthin Market Outlook, By Yeast & Microbes (2020-2028) ($MN)
34 North America Astaxanthin Market Outlook, By Plants (2020-2028) ($MN)
35 North America Astaxanthin Market Outlook, By Marine Animals (2020-2028) ($MN)
36 North America Astaxanthin Market Outlook, By Synthetic (2020-2028) ($MN)
37 North America Astaxanthin Market Outlook, By Production Technology (2020-2028) ($MN)
38 North America Astaxanthin Market Outlook, By Yeast Production (2020-2028) ($MN)
39 North America Astaxanthin Market Outlook, By Algal Production (2020-2028) ($MN)
40 North America Astaxanthin Market Outlook, By Chemical Production (2020-2028) ($MN)
41 North America Astaxanthin Market Outlook, By Fermentation (2020-2028) ($MN)
42 North America Astaxanthin Market Outlook, By Application (2020-2028) ($MN)
43 North America Astaxanthin Market Outlook, By Cosmetics (2020-2028) ($MN)
44 North America Astaxanthin Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
45 North America Astaxanthin Market Outlook, By Aquaculture and Animal Feed (2020-2028) ($MN)
46 North America Astaxanthin Market Outlook, By Food and Beverages (2020-2028) ($MN)
47 North America Astaxanthin Market Outlook, By Dietary Supplements (2020-2028) ($MN)
48 North America Astaxanthin Market Outlook, By Nutraceuticals (2020-2028) ($MN)
49 Europe Astaxanthin Market Outlook, By Country (2020-2028) ($MN)
50 Europe Astaxanthin Market Outlook, By Product (2020-2028) ($MN)
51 Europe Astaxanthin Market Outlook, By Oil (2020-2028) ($MN)
52 Europe Astaxanthin Market Outlook, By Liquid (2020-2028) ($MN)
53 Europe Astaxanthin Market Outlook, By Softgel (2020-2028) ($MN)
54 Europe Astaxanthin Market Outlook, By Dried Algae Meal or Biomass (2020-2028) ($MN)
55 Europe Astaxanthin Market Outlook, By Source (2020-2028) ($MN)
56 Europe Astaxanthin Market Outlook, By Natural (2020-2028) ($MN)
57 Europe Astaxanthin Market Outlook, By Yeast & Microbes (2020-2028) ($MN)
58 Europe Astaxanthin Market Outlook, By Plants (2020-2028) ($MN)
59 Europe Astaxanthin Market Outlook, By Marine Animals (2020-2028) ($MN)
60 Europe Astaxanthin Market Outlook, By Synthetic (2020-2028) ($MN)
61 Europe Astaxanthin Market Outlook, By Production Technology (2020-2028) ($MN)
62 Europe Astaxanthin Market Outlook, By Yeast Production (2020-2028) ($MN)
63 Europe Astaxanthin Market Outlook, By Algal Production (2020-2028) ($MN)
64 Europe Astaxanthin Market Outlook, By Chemical Production (2020-2028) ($MN)
65 Europe Astaxanthin Market Outlook, By Fermentation (2020-2028) ($MN)
66 Europe Astaxanthin Market Outlook, By Application (2020-2028) ($MN)
67 Europe Astaxanthin Market Outlook, By Cosmetics (2020-2028) ($MN)
68 Europe Astaxanthin Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
69 Europe Astaxanthin Market Outlook, By Aquaculture and Animal Feed (2020-2028) ($MN)
70 Europe Astaxanthin Market Outlook, By Food and Beverages (2020-2028) ($MN)
71 Europe Astaxanthin Market Outlook, By Dietary Supplements (2020-2028) ($MN)
72 Europe Astaxanthin Market Outlook, By Nutraceuticals (2020-2028) ($MN)
73 Asia Pacific Astaxanthin Market Outlook, By Country (2020-2028) ($MN)
74 Asia Pacific Astaxanthin Market Outlook, By Product (2020-2028) ($MN)
75 Asia Pacific Astaxanthin Market Outlook, By Oil (2020-2028) ($MN)
76 Asia Pacific Astaxanthin Market Outlook, By Liquid (2020-2028) ($MN)
77 Asia Pacific Astaxanthin Market Outlook, By Softgel (2020-2028) ($MN)
78 Asia Pacific Astaxanthin Market Outlook, By Dried Algae Meal or Biomass (2020-2028) ($MN)
79 Asia Pacific Astaxanthin Market Outlook, By Source (2020-2028) ($MN)
80 Asia Pacific Astaxanthin Market Outlook, By Natural (2020-2028) ($MN)
81 Asia Pacific Astaxanthin Market Outlook, By Yeast & Microbes (2020-2028) ($MN)
82 Asia Pacific Astaxanthin Market Outlook, By Plants (2020-2028) ($MN)
83 Asia Pacific Astaxanthin Market Outlook, By Marine Animals (2020-2028) ($MN)
84 Asia Pacific Astaxanthin Market Outlook, By Synthetic (2020-2028) ($MN)
85 Asia Pacific Astaxanthin Market Outlook, By Production Technology (2020-2028) ($MN)
86 Asia Pacific Astaxanthin Market Outlook, By Yeast Production (2020-2028) ($MN)
87 Asia Pacific Astaxanthin Market Outlook, By Algal Production (2020-2028) ($MN)
88 Asia Pacific Astaxanthin Market Outlook, By Chemical Production (2020-2028) ($MN)
89 Asia Pacific Astaxanthin Market Outlook, By Fermentation (2020-2028) ($MN)
90 Asia Pacific Astaxanthin Market Outlook, By Application (2020-2028) ($MN)
91 Asia Pacific Astaxanthin Market Outlook, By Cosmetics (2020-2028) ($MN)
92 Asia Pacific Astaxanthin Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
93 Asia Pacific Astaxanthin Market Outlook, By Aquaculture and Animal Feed (2020-2028) ($MN)
94 Asia Pacific Astaxanthin Market Outlook, By Food and Beverages (2020-2028) ($MN)
95 Asia Pacific Astaxanthin Market Outlook, By Dietary Supplements (2020-2028) ($MN)
96 Asia Pacific Astaxanthin Market Outlook, By Nutraceuticals (2020-2028) ($MN)
97 South America Astaxanthin Market Outlook, By Country (2020-2028) ($MN)
98 South America Astaxanthin Market Outlook, By Product (2020-2028) ($MN)
99 South America Astaxanthin Market Outlook, By Oil (2020-2028) ($MN)
100 South America Astaxanthin Market Outlook, By Liquid (2020-2028) ($MN)
101 South America Astaxanthin Market Outlook, By Softgel (2020-2028) ($MN)
102 South America Astaxanthin Market Outlook, By Dried Algae Meal or Biomass (2020-2028) ($MN)
103 South America Astaxanthin Market Outlook, By Source (2020-2028) ($MN)
104 South America Astaxanthin Market Outlook, By Natural (2020-2028) ($MN)
105 South America Astaxanthin Market Outlook, By Yeast & Microbes (2020-2028) ($MN)
106 South America Astaxanthin Market Outlook, By Plants (2020-2028) ($MN)
107 South America Astaxanthin Market Outlook, By Marine Animals (2020-2028) ($MN)
108 South America Astaxanthin Market Outlook, By Synthetic (2020-2028) ($MN)
109 South America Astaxanthin Market Outlook, By Production Technology (2020-2028) ($MN)
110 South America Astaxanthin Market Outlook, By Yeast Production (2020-2028) ($MN)
111 South America Astaxanthin Market Outlook, By Algal Production (2020-2028) ($MN)
112 South America Astaxanthin Market Outlook, By Chemical Production (2020-2028) ($MN)
113 South America Astaxanthin Market Outlook, By Fermentation (2020-2028) ($MN)
114 South America Astaxanthin Market Outlook, By Application (2020-2028) ($MN)
115 South America Astaxanthin Market Outlook, By Cosmetics (2020-2028) ($MN)
116 South America Astaxanthin Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
117 South America Astaxanthin Market Outlook, By Aquaculture and Animal Feed (2020-2028) ($MN)
118 South America Astaxanthin Market Outlook, By Food and Beverages (2020-2028) ($MN)
119 South America Astaxanthin Market Outlook, By Dietary Supplements (2020-2028) ($MN)
120 South America Astaxanthin Market Outlook, By Nutraceuticals (2020-2028) ($MN)
121 Middle East & Africa Astaxanthin Market Outlook, By Country (2020-2028) ($MN)
122 Middle East & Africa Astaxanthin Market Outlook, By Product (2020-2028) ($MN)
123 Middle East & Africa Astaxanthin Market Outlook, By Oil (2020-2028) ($MN)
124 Middle East & Africa Astaxanthin Market Outlook, By Liquid (2020-2028) ($MN)
125 Middle East & Africa Astaxanthin Market Outlook, By Softgel (2020-2028) ($MN)
126 Middle East & Africa Astaxanthin Market Outlook, By Dried Algae Meal or Biomass (2020-2028) ($MN)
127 Middle East & Africa Astaxanthin Market Outlook, By Source (2020-2028) ($MN)
128 Middle East & Africa Astaxanthin Market Outlook, By Natural (2020-2028) ($MN)
129 Middle East & Africa Astaxanthin Market Outlook, By Yeast & Microbes (2020-2028) ($MN)
130 Middle East & Africa Astaxanthin Market Outlook, By Plants (2020-2028) ($MN)
131 Middle East & Africa Astaxanthin Market Outlook, By Marine Animals (2020-2028) ($MN)
132 Middle East & Africa Astaxanthin Market Outlook, By Synthetic (2020-2028) ($MN)
133 Middle East & Africa Astaxanthin Market Outlook, By Production Technology (2020-2028) ($MN)
134 Middle East & Africa Astaxanthin Market Outlook, By Yeast Production (2020-2028) ($MN)
135 Middle East & Africa Astaxanthin Market Outlook, By Algal Production (2020-2028) ($MN)
136 Middle East & Africa Astaxanthin Market Outlook, By Chemical Production (2020-2028) ($MN)
137 Middle East & Africa Astaxanthin Market Outlook, By Fermentation (2020-2028) ($MN)
138 Middle East & Africa Astaxanthin Market Outlook, By Application (2020-2028) ($MN)
139 Middle East & Africa Astaxanthin Market Outlook, By Cosmetics (2020-2028) ($MN)
140 Middle East & Africa Astaxanthin Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
141 Middle East & Africa Astaxanthin Market Outlook, By Aquaculture and Animal Feed (2020-2028) ($MN)
142 Middle East & Africa Astaxanthin Market Outlook, By Food and Beverages (2020-2028) ($MN)
143 Middle East & Africa Astaxanthin Market Outlook, By Dietary Supplements (2020-2028) ($MN)
144 Middle East & Africa Astaxanthin Market Outlook, By Nutraceuticals (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

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  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


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Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

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