HOME Top Market Reports Astaxanthin Market by Source (Plant, Yeast & Microbes, Marine, Petroleum), Form (Dry, Liquid), Method of Production (Biological Process, Chemical Process), Application (Feed, Supplements, Food, Cosmetics), and Region - Global Forecast to 2022

Astaxanthin Market by Source (Plant, Yeast & Microbes, Marine, Petroleum), Form (Dry, Liquid), Method of Production (Biological Process, Chemical Process), Application (Feed, Supplements, Food, Cosmetics), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: May 2017
Report Code: FB 5254

 

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The astaxanthin market is projected to grow at a CAGR of 8.02% from 2017 to reach USD 814.1 Million by 2022. The base year considered for the study is 2016, while the forecast period is from 2017 to 2022. The basic objective of the report is to define, segment, and project the global market size for astaxanthin on the basis of application, source, method of production, form, and region. It also helps to understand the structure of the astaxanthin market by identifying its various segments. The other objectives include analyzing the opportunities in the market for stakeholders and providing a competitive landscape of market trends, analyzing the macro and micro indicators of this market to provide factor analysis, and to project the size of the astaxanthin market in terms of value and volume.

This report includes estimations of the market size in terms of value (USD million) and volume (MT). Both top-down and bottom-up approaches have been used to estimate and validate the size of the global market. The key players in the market have been identified through secondary research; some of the sources include press releases, paid databases such as Factiva and Bloomberg Businessweek, annual reports, and financial journals; their market share in the respective regions have also been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources. The figure below shows the breakdown of the profiles of industry experts that participated in the primary discussions.

Astaxanthin Market

To know about the assumptions considered for the study, download the pdf brochure

Key participants in the supply chain of the astaxanthin market are the product manufacturers, end-use industries, and raw material suppliers. The key players that are profiled in the report include Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cyanotech Corporation (U.S.), Otsuka Pharmaceutical Co., Ltd. (Japan), Valensa International (U.S.), Fuji Chemical Industries Co., Ltd. (Japan), Divis Laboratories (India), Beijing Ginko Group (China), Igene Biotechnology, Inc. (U.S.), Piveg, Inc. (U.S.), Fenchem Biotek Ltd. (U.S.), Algatechnologies (Israel), Cardax, Inc. (U.S.), and Supreme Biotechnologies (U.S.).

This report is targeted at the existing players in the industry, which include the following:

  • Regulatory and research organizations
  • Raw material suppliers and distributors
  • Astaxanthin traders, distributors, and dealers
  • Biotechnology-based organizations
  • Astaxanthin manufacturers
  • Research and consulting firms
  • Manufacturers of functional food & beverages, and other nutraceutical products

“The study answers several questions for stakeholders; primarily, which market segments to focus on in the next two to five years for prioritizing efforts and investments.”

Scope of the Report

On the basis of Application, the market has been segmented into:

  • Feed
  • Supplement
  • Food
  • Cosmetics

On the basis of Form, the market has been segmented into:

  • Dry
  • Liquid

On the basis of Source, the market has been segmented into:

  • Plants
  • Yeast & Microbes
  • Marine
  • Petroleum

On the basis of Method of Production, the market has been segmented into:

  • Microalgae cultivation
  • Fermentation
  • Extraction
  • Chemical synthesis

On the basis of Region, the market has been segmented into:

  • North America
  • Europe
  • Asia-Pacific
  • RoW (South America and the Middle East)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of European astaxanthin market into Russia and Italy
  • Further breakdown of the Rest of Asia-Pacific astaxanthin market into Australia, New Zealand, and Vietnam
  • Further breakdown of the RoW astaxanthin market into Paraguay, Uruguay, Chile, and Cuba

Company Information

  • Detailed analysis and profiling of additional market players (up to five) related reports

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Markets Covered
    1.4 Periodization Considered for the Study
    1.5 Currency
    1.6 Units
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Macroindicators
           2.2.1 Introduction
           2.2.2 Increasing Geriatric Population
           2.2.3 Changing Consumption Patterns
           2.2.4 Prevalence of Nutritional Deficiency
    2.3 Market Size Estimation
    2.4 Market Breakdown & Data Triangulation
    2.5 Assumptions and Limitations
           2.5.1 Assumptions
           2.5.2 Limitations

3 Executive Summary (Page No. - 30)
    3.1 Astaxanthin Market, By Source Type

4 Premium Insights (Page No. - 37)
    4.1 Attractive Opportunities in this  Market
    4.2 Astaxanthin Market, By Region
    4.3 Asia-Pacific Astaxanthin Market, By Country and Source
    4.4 Astaxanthin Market, By Application
    4.5 Market, By Source
    4.6 Product Life Cycle, By Region

5 Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Awareness Toward Preventive Healthcare & Nutraceuticals
                    5.2.1.2 Industrialization of the Feed Market
                    5.2.1.3 Increasing Demand for Cosmetic Products
           5.2.2 Restraints
                    5.2.2.1 High Cost of Production
           5.2.3 Opportunities
                    5.2.3.1 Government Initiatives to Support Aquaculture
                    5.2.3.2 Growing Demand for Natural Antioxidants
                    5.2.3.3 Growing Demand From Emerging Countries
           5.2.4 Challenges
                    5.2.4.1 Adulteration and Clean Label Requirements
                    5.2.4.2 Government Regulations in Different Countries
    5.3 Value Chain Analysis
    5.4 Supply Chain Analysis

6 Astaxanthin Market, By Source (Page No. - 54)
    6.1 Introduction
    6.2 Natural Source
           6.2.1 Plants
           6.2.2 Yeast & Microbes
           6.2.3 Marine
    6.3 Petroleum (Synthetic)

7 Astaxanthin Market, By Application (Page No. - 60)
    7.1 Introduction
    7.2 Feed
    7.3 Supplements
    7.4 Food
    7.5 Cosmetics

8 Astaxanthin Market, By Form (Page No. - 68)
    8.1 Introduction
    8.2 Dry Form
    8.3 Liquid Form

9 Astaxanthin Market, By Method of Production (Page No. - 72)
    9.1 Introduction
    9.2 Microalgae Cultivation
    9.3 Fermentation
    9.4 Extraction
    9.5 Chemical Synthesis

10 Astaxanthin Market, By Region (Page No. - 78)
     10.1 Introduction
     10.2 North America
             10.2.1 U.S.
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 Germany
             10.3.2 France
             10.3.3 Italy
             10.3.4 U.K.
             10.3.5 Spain
             10.3.6 Rest of Europe
     10.4 Asia-Pacific
             10.4.1 China
             10.4.2 India
             10.4.3 Australia & New Zealand
             10.4.4 Rest of Asia-Pacific
     10.5 Rest of the World (RoW)
             10.5.1 South America
             10.5.2 Middle East
             10.5.3 Others in RoW

11 Brand Overview (Page No. - 104)
     11.1 Introduction
     11.2 Brands for Animal Application
             11.2.1 Astareal
             11.2.2 Ecotone
             11.2.3 Astamarine
     11.3 Brands for Human Application
             11.3.1 Astasana
             11.3.2 Astareal
             11.3.3 Bioastin
             11.3.4 Astazine
             11.3.5 Zanthin
             11.3.6 Astapure
             11.3.7 Astasupreme
             11.3.8 Astamarine

12 Regulations Governing the Astaxanthin Market (Page No. - 107)
     12.1 Overview
     12.2 North America
             12.2.1 Canada
             12.2.2 U.S.
     12.3 European Union (EU)
     12.4 Major Patents

13 Competitive Landscape (Page No. - 110)
     13.1 Introduction
     13.2 Vendor Dive Analysis
             13.2.1 Vanguards
             13.2.2 Innovator
             13.2.3 Dynamic
             13.2.4 Emerging
     13.3 Competitive Benchmarking
             13.3.1 Product Offering (For All 22 Players)
             13.3.2 Business Strategy (For All 22 Players)

*Top 22 Companies Analyzed for This Study are – BASF SE (Germany), Koninklijke DSM N.V (Netherlands), Fuji Chemical Industries Co., Ltd (Japan), Cardax, Inc. (U.S.), BGG (Beijing Ginko Group) (U.S.), Igene Biotechnology, Inc. (U.S.), Jx Nippon Oil & Energy Co. (Japan), Valensa International (U.S.), Otsuka  Pharmaceutical (Japan), Cyanotech Corporation (U.S.), Viva Naturals (U.S.), Algatechnologies (Israel), Piveg Inc. (Mexico), Regenurex Health Corporation (Canada), Core Products Europe Ltd (U.K.), Atacama Bio Natural Products S.A. (Chile, South America), Blueocean Nutrasciences (Canada), Divis Laboratories Ltd. (India), Spec-Chem Industry Inc (China), Nutramarks, Inc (U.S.), Supreme Biotechnologies Nz Ltd (Nz), Fenchem Biotek Ltd. (China)

14 Company Profiles (Page No. - 114)
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     14.1 Koninklijke DSM N.V.
     14.2 BASF SE
     14.3 Cyanotech Corporation
     14.4 Otsuka Pharmaceutical Co., Ltd.
     14.5 Valensa International
     14.6 Fuji Chemical Industries Co., Ltd.
     14.7 Divis Laboratories Ltd.
     14.8 Beijing Ginko Group (BGG)
     14.9 Igene Biotechnology Inc.
     14.10 Piveg, Inc.
     14.11 Fenchem Biotek Ltd.
     14.12 Algatechnologies
     14.13 Cardax, Inc.
     14.14 Supreme Biotechnologies

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 155)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details


List of Tables (78 Tables)

Table 1 Astaxanthin Market Size, By Source, 2015-2022 (USD Million)
Table 2 Market Size, By Source, 2015-2022 (MT)
Table 3 Plants: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 4 Plants: Market Size, By Region, 2015-2022 (MT)
Table 5 Yeast & Microbes: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 6 Yeast & Microbes: Market Size, By Region, 2015-2022 (MT)
Table 7 Marine: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 8 Marine: Market Size, By Region, 2015-2022 (MT)
Table 9 Petroleum: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 10 Petroleum: Market Size, By Region, 2015-2022 (MT)
Table 11 Astaxanthin Market Size, By Application, 2015-2022 (USD Million)
Table 12 Market Size, By Application, 2015-2022 (MT)
Table 13 Astaxanthin Market Size for Feed, By Region, 2015-2022 (USD Million)
Table 14 Market Size for Feed, By Region, 2015-2022 (MT)
Table 15 Astaxanthin Market Size for Supplements, By Region, 2015-2022 (USD Million)
Table 16 Market Size for Supplements, By Region, 2015-2022 (MT)
Table 17 Astaxanthin Market Size for Food, By Region, 2015-2022 (USD Million)
Table 18 Market Size for Food, By Region, 2015-2022 (MT)
Table 19 Astaxanthin Market Size for Cosmetics, By Region, 2015-2022 (USD Million)
Table 20 Market Size for Food, By Region, 2015-2022 (MT)
Table 21 Astaxanthin Market Size, By Form, 2015-2022 (USD Million)
Table 22 Market Size, By Form, 2015-2022 (MT)
Table 23 Dry Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 24 Dry Astaxanthin Market Size, By Region, 2015-2022 (MT)
Table 25 Liquid Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 26 Liquid Astaxanthin Market Size, By Region, 2015-2022 (MT)
Table 27 Astaxanthin Market Size, By Method of Production, 2015-2022 (USD Million)
Table 28 Market Size, By Method of Production, 2015-2022 (MT)
Table 29 Microalgae Cultivation: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 30 Microalgae Cultivation: Market Size, By Region, 2015-2022 (MT)
Table 31 Fermentation: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 32 Fermentation: Market Size, By Region, 2015-2022 (MT)
Table 33 Extraction: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 34 Extraction: Market Size, By Region, 2015-2022 (MT)
Table 35 Chemical Synthesis: Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 36 Chemical Synthesis: Market Size, By Region, 2015-2022 (MT)
Table 37 Astaxanthin Market Size, By Region, 2015-2022 (USD Million)
Table 38 Market Size, By Region, 2015–2022 (MT)
Table 39 North America: Astaxanthin Market Size, By Country, 2015–2022 (USD Million)
Table 40 North America: Market Size, By Country, 2015–2022 (MT)
Table 41 North America: Astaxanthin Market Size, By Source, 2015-2022 (USD Million)
Table 42 North America: Market Size, By Source, 2015-2022 (MT)
Table 43 North America: Astaxanthin Market Size, By Method of Production, 2015-2022 (USD Million)
Table 44 North America: Market Size, By Method of Production, 2015-2022 (MT)
Table 45 North America: Astaxanthin Market Size, By Application, 2015-2022 (USD Million)
Table 46 North America: Market Size, By Application, 2015-2022 (MT)
Table 47 North America: Astaxanthin Market Size, By Form, 2015-2022 (USD Million)
Table 48 North America: Market Size, By Form, 2015-2022 (MT)
Table 49 Europe: Astaxanthin Market Size, By Country, 2015–2022 (USD Million)
Table 50 Europe: Market Size, By Country, 2015–2022 (MT)
Table 51 Europe: Astaxanthin Market Size, By Source, 2015-2022 (USD Million)
Table 52 Europe: Market Size, By Source, 2015-2022 (MT)
Table 53 Europe: Astaxanthin Market Size, By Method of Production, 2015-2022 (USD Million)
Table 54 North America: Astaxanthin Market Size, By Method of Production, 2015-2022 (MT)
Table 55 Europe: Astaxanthin Market Size, By Application, 2015-2022 (USD Million)
Table 56 Europe: Market Size, By Application, 2015-2022 (MT)
Table 57 Europe: Astaxanthin Market Size, By Form, 2015-2022 (USD Million)
Table 58 Europe: Market Size, By Form, 2015-2022 (MT)
Table 59 Asia-Pacific: Astaxanthin Market Size, By Country, 2015–2022 (USD Million)
Table 60 Asia-Pacific: Market Size, By Country, 2015–2022 (MT)
Table 61 Asia-Pacific: Astaxanthin Market Size, By Source, 2015-2022 (USD Million)
Table 62 Asia-Pacific: Market Size, By Source, 2015-2022 (MT)
Table 63 Asia-Pacific: Astaxanthin Market Size, By Method of Production, 2015-2022 (USD Million)
Table 64 Asia-Pacific: Market Size, By Method of Production, 2015-2022 (MT)
Table 65 Asia-Pacific: Astaxanthin Market Size, By Application, 2015-2022 (USD Million)
Table 66 Asia-Pacific: Market Size, By Application, 2015-2022 (MT)
Table 67 Asia-Pacific: Astaxanthin Market Size, By Form, 2015-2022 (USD Million)
Table 68 Asia-Pacific: Market Size, By Form, 2015-2022 (MT)
Table 69 RoW: Astaxanthin Market Size, By Region, 2015–2022 (USD Million)
Table 70 RoW: Market Size, By Region, 2015–2022 (MT)
Table 71 RoW: Astaxanthin Market Size, By Source, 2015-2022 (USD Million)
Table 72 RoW: Market Size, By Source, 2015-2022 (MT)
Table 73 RoW: Astaxanthin Market Size, By Method of Production, 2015-2022 (USD Million)
Table 74 RoW: Market Size, By Method of Production, 2015-2022 (MT)
Table 75 RoW: Astaxanthin Market Size, By Application, 2015-2022 (USD Million)
Table 76 RoW: Market Size, By Application, 2015-2022 (MT)
Table 77 RoW: Astaxanthin Market Size, By Form, 2015-2022 (USD Million)
Table 78 RoW: Market Size, By Form, 2015-2022 (MT)
 
 
List of Figures (63 Figures)
 
Figure 1 Market Segmentation
Figure 2 Astaxanthin Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation & Region
Figure 4 Population Aged 65 and Above (% of Total Population)
Figure 5 Factors Affecting the Consumption Patterns and Their Effect on Astaxanthin Consumption
Figure 6 Prevalence of Undernourishment (% of Population)
Figure 7 Market Size Estimation: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Market Breakdown & Data Triangulation
Figure 10 Overview of the Astaxanthin Market, 2016–2022
Figure 11 Synthetic Astaxanthin is Projected to Be the Largest Between 2016 and 2022
Figure 12 Astaxanthin Market, By Source & Region, 2017–2022
Figure 13 Astaxanthin Market Size, By Application, 2017-2022 (USD Million)
Figure 14 Market Size, By Region
Figure 15 Astaxanthin Stands as an Emerging Market With Promising Growth Potential During the Forecast Period
Figure 16 Asia-Pacific Projected to Grow at the Highest Rate From 2017 to 2022
Figure 17 Synthetic Astaxanthin Derived From Petroleum Products is Estimated to Hold the Largest Share in the Asia-Pacific Market in 2017
Figure 18 Feed Was the Largest Application Across All Regions, in Terms of Value, in 2016
Figure 19 Petroleum Was the Largest Source Across All Regions Except North America Where Plants Was Dominant, in Terms of Value, in 2016
Figure 20 Astaxanthin Market is at A Nascent Stage Globally
Figure 21 Astaxanthin: Market Dynamics
Figure 22 World Health Expenditure Per Capita (Current USD)
Figure 23 U.S. Health Expenditure Per Capita vs South Asian Health Expenditure Per Capita (USD)
Figure 24 Feed Consumption Share (Volume) By Livestock Type, 2014
Figure 25 Astaxanthin Market: Value Chain Analysis
Figure 26 Astaxanthin Market: Supply Chain Analysis
Figure 27 North American Astaxanthin Market: A Snapshot
Figure 28 Asia-Pacific Astaxanthin Market: A Snapshot
Figure 29 Dive Chart
Figure 30 Koninklijke DSM N.V.: Company Snapshot
Figure 31 Koninklijke DSM N.V.: Product Offering Scorecard
Figure 32 Koninklijke DSM N.V.: Business Strategy Scorecard
Figure 33 BASF SE: Company Snapshot
Figure 34 BASF SE: Product Offering Scorecard
Figure 35 BASF SE: Business Strategy Scorecard
Figure 36 Cyanotech Corporation: Company Snapshot
Figure 37 Cyanotech Corporation: Product Offering Scorecard
Figure 38 Cyanotech Corporation: Business Strategy Scorecard
Figure 39 Otsuka Pharmaceutical Co., Ltd.: Company Snapshot
Figure 40 Otsuka Pharmaceutical Co., Ltd.: Product Offering Scorecard
Figure 41 Otsuka Pharmaceutical Co., Ltd.: Business Strategy Scorecard
Figure 42 Valensa International: Company Snapshot
Figure 43 Valensa International: Product Offering Scorecard
Figure 44 Valensa International: Business Strategy Scorecard
Figure 45 Fuji Chemical Industries Co., Ltd: Product Offering Scorecard
Figure 46 Fuji Chemical Industries Co., Ltd: Business Strategy Scorecard
Figure 47 Divis Laboratories Ltd.: Company Snapshot
Figure 48 Divis Laboratories Ltd.: Product Offering Scorecard
Figure 49 Divis Laboratories Ltd.: Business Strategy Scorecard
Figure 50 Beijing Ginko Group (BGG): Product Offering Scorecard
Figure 51 Beijing Ginko Group (BGG): Business Strategy Scorecard
Figure 52 Igene: Product Offering Scorecard
Figure 53 Igene: Business Strategy Scorecard
Figure 54 Piveg, Inc: Product Offering Scorecard
Figure 55 Piveg, Inc: Business Strategy Scorecard
Figure 56 Fenchem Biotek Ltd.: Product Offering Scorecard
Figure 57 Fenchem Biotek Ltd.: Business Strategy Scorecard
Figure 58 Algatechnologies: Product Offering Scorecard
Figure 59 Algatechnologies: Business Strategy Scorecard
Figure 60 Cardax, Inc.: Product Offering Scorecard
Figure 61 Cardax, Inc.: Business Strategy Scorecard
Figure 62 Supreme Biotechnologies: Product Offering Scorecard
Figure 63 Supreme Biotechnologies: Business Strategy Scorecard 

The astaxanthin market is projected to grow at a CAGR of 8.02% from 2017, to reach USD 814.1 Million by 2022. Astaxanthin has been gaining significance due to its health benefits and a wide range of end-use applications. It finds usage in animal and human applications, wherein it is mainly used to combat the human immune health and skin-related problems, while as a coloring additive in animal feed. The increasing prevalence of nutrient deficiency and changing consumer preferences for preventive healthcare have led to an increase in the demand for astaxanthin in the global market.

Petroleum-derived astaxanthin dominated the market in 2016; however, astaxanthin derived from plants is projected to grow at a higher rate, due to the safety issues associated with petroleum-based astaxanthin for human consumption. Microalgae cultivation is expected to be the fastest-growing method of production by 2022, due to the increased adoption of microalgae as a source of astaxanthin owing to the high concentration of astaxanthin present in them. Petroleum being the dominant source for beta-glucan, chemical synthesis of these petroleum products dominated the market based on the method of production. Animal feed dominated the astaxanthin market, by application, in 2016, due to the extensive use of astaxanthin as a coloring agent, especially for livestock and aquatic animals to enhance the color of meat and eggs. The dietary supplements segment is projected to be the fastest-growing application during the forecast period due to the increasing adoption of astaxanthin as a nutraceutical or dietary supplement owing to its potent antioxidant property. Since astaxanthin is mainly used as a dietary supplement or animal feed, the dry form is the most preferred form by the consumers. Hence, dry form dominates the market, while liquid astaxanthin extracts find usage in cosmetics and food.

The Asia-Pacific region accounted for the largest regional market share in 2016, while North America is projected to grow at the highest CAGR for the next five years. The growing aquaculture market in the Asia-Pacific region and the increased consumption of antioxidants contribute as the major factors for Asia-Pacific’s dominant share in the global market. The increasing demand for astaxanthin, especially “natural astaxanthin” from food & beverage and supplements industries, is the major factor contributing to the high-growth potential of the North American astaxanthin market.

Astaxanthin Market

Regulatory control on the usage of astaxanthin in animal feed as a coloring agent in different countries limits the use of astaxanthin in animal feed. Approval from government bodies is required for the application of astaxanthin in food & beverage products to ascertain that its concentration is well within the permitted levels to avoid any side effects.

The astaxanthin market is fragmented with a large number of domestic manufacturers, formulators, and suppliers. Easy availability of inexpensive raw materials allows the entry of many small-scale manufacturers and to compete for the market position. BASF SE (Germany) and Koninklijke DSM N.V. (Netherlands) are two of the key players in the astaxanthin market. The major strategies adopted by the companies include new product launches and expansions for increasing their presence in high-demand markets of the U.S., Europe, and the Asia-Pacific. These expansions & investments have helped companies strengthen their portfolio in both, established and emerging markets.

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