Astaxanthin Market Share, By Manufacturers, Regions, Industry Trends, Competitor Strategy Forecast To 2024


Posted July 25, 2019 by nikhilk

Astaxanthin Market Research Report: Information by Source, by Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Animal Feed, and Others), by Form (Dry and Liquid), and Region, Forecast

 
Market Scenario

Astaxanthin Market is a naturally occurring pigment. It is a reddish color pigment belongs to a family of carotenoid pigments. It has various significant properties such as excellent UV resistance, antioxidant, anti-aging, and reliable nature. It is used to provide the flexibility, comfort, and biocompatibility nature to the product. The US Food and Drug Administration (FDA) has approved astaxanthin as a food coloring additive for specific uses in animal and fish foods. Astaxanthin from algae, synthetic, and bacterial sources is generally recognized as safe (GRAS) by the FDA.

The global astaxanthin market is projected to grow with a significant growth rate of 7.2% from 2019 to 2024 and reach a market value of USD 120 million by the end of 2024

The Global Astaxanthin Market has been driven by its growing usage in the production of feed, supplements, food, health care products, and others. Moreover, it is estimated that the personal care product segment is set to witness the highest growth in the market due to increasing consumption of carotenoid pigments in different products such as anti-aging cream, lotions, perfumes, and others.

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Competitive Analysis

Some of the major players functioning in the Global Astaxanthin Market are Alga Technologies (Israel), BASF SE (Germany), Koninklijke DSM N.V. (the Netherlands), Fuji Chemical Industries Co., Ltd. (Japan), JXTG Nippon Oil & Energy Corporation (Japan), Heliae (the U.S.), Otsuka Pharmaceutical Co., Ltd.(Japan), Fenchem(China), Parry Nutraceuticals(India), and Piveg, Inc. (the U.S.), among others.

Market Segmentation:

The Global Astaxanthin Market is segregated into source, form, process, and end-use.

Based on the source, the market is further categorized into natural and chemical. The most widely used source in the market is natural segment due to its growing consumption in feed, food, agriculture, and others. It is predicted that the chemical source segment may witness slow growth due to growing substitution of synthetic products by natural materials over the forecast period.

Based on form, the market is sub-divided into dry and liquid astaxanthin. The growing use of dry pigments as a feed and fodder is projected to drive the market in the coming years. The liquid pigment is likely to grow at a higher CAGR on account of its increasing use in the personal care and cosmetics products.

Intended Audience

Astaxanthin processor
Commercial research and development institutions
Raw material suppliers and distributors
Food and drug processors
Traders, exporters, and importers
Segmental Analysis

The Global Astaxanthin Market is spanned across five key regions of the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America holds a major portion of the global market and is anticipated to continue its dominance due to rising demand for astaxanthin in various applications.

The U.S., Canada, and Mexico are the major players in this region. The Asia Pacific region is estimated to witness a higher growth due to fast growing countries such as China, Japan, and India owing to growing demand for carotenoid pigments in feed, food, and health care products. A rapid development is observed in the European region owing to the extensive use of pigments in the healthcare, supplements, and bio-tech industries.

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Table Of Contents

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

3 Market Research Methodology

3.1 Research Function

3.2 Secondary Research

3.3 Primary Research

4 Market Landscape

4.1 Supply Chain Analysis

4.1.1 Raw Material Suppliers

4.1.2 Manufacturers/Producers

5 Market Dynamics Of Global Astaxanthin Market

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

To Be Continue……….

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Last Updated July 25, 2019