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.
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
