Global Astaxanthin Market Size, Industry Analysis By Segmentations, Top Key Players, Growth, Region, Trends, & Forecast 2023-2032

 

Global Astaxanthin Market

The Global Astaxanthin Market size was valued at USD 559.6 million in 2020 and is expected to reach USD 1.04 billion by 2028, growing at a compound annual growth rate (CAGR) of 8.3% from 2021 to 2028.

Astaxanthin is a naturally occurring carotenoid pigment that is commonly found in marine animals and microalgae. It is known for its powerful antioxidant properties and is used in a wide range of applications in the food, nutraceutical, and cosmetic industries. The global astaxanthin market is driven by the growing demand for natural antioxidants in various end-use industries. Increasing awareness about the health benefits of astaxanthin, including its anti-inflammatory and anti-aging properties, is also driving market growth. The market can be segmented based on the source of astaxanthin, including natural and synthetic astaxanthin.

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Natural astaxanthin is extracted from microalgae, yeast, and other natural sources, while synthetic astaxanthin is produced through chemical synthesis. Based on application, the astaxanthin market can be segmented into the following categories: nutraceuticals, food and beverages, cosmetics, aquaculture, and animal feed.

Astaxanthin is a natural carotenoid pigment that is derived from microalgae and other natural sources. With the increasing demand for natural and organic ingredients in various industries, the demand for astaxanthin is also growing. Astaxanthin is known for its health benefits, including anti-inflammatory, antioxidant, and anti-aging properties. As consumers become more health-conscious, the demand for astaxanthin is increasing in the nutraceutical and functional food markets.

Covid 19 Impact: -

The COVID-19 pandemic has had a significant impact on the astaxanthin market as the crisis has highlighted the significance of safe, healthy, and nutritive eating habits among consumers across the globe. A growing number of health-conscious individuals are more inclined towards natural food coloring agents with lesser adverse effects, as compared to other chemical products, which is an important driver estimated to boost the market growth.

The demand for astaxanthin is expected to increase, due to its multiple applications in pharmaceutical, nutraceuticals, and feed industries, among others. Also, the unique color and properties associated with astaxanthin have led to its increased use in commercial aquacultures, food coloring, and others.

 

Market Segmentation:

By Source

• Natural astaxanthin
• Synthetic astaxanthin

By Form

• Dry powder
• Liquid
• Beadles

By Application

• Nutraceuticals
• Food and Beverages
• Cosmetics
• Aquaculture
• Animal Feed

Key Player:

• Koninklijke DSM N.V.
• BASF SE
• Cyanotech Corporation
• Algatechnologies Ltd.
• Piveg, Inc.
• Fenchem Biotek Ltd.
• Divis Nutraceuticals
• BGG (Beijing Ginko Group)
• Supreme Biotechnologies NZ Ltd.
• E.I.D. - Parry (India) Limited

Regional Analysis:

All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Astaxanthin market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.

• Provision of market value (USD Billion) data for each segment and sub-segment.
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market.
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.
• Provides insight into the market through Value Chain.
• Market dynamics scenario, along with growth opportunities of the market in the years to come.
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Key Points: 

• Define, describe and forecast Astaxanthin market by type, application, end user and region.
• Provide strategies for company to deal with the impact of COVID-19.
• Provide enterprise external environment analysis and PEST analysis.
• Provide market dynamic analysis, including market driving factors, market development constraints.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
• Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
• Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

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