Astaxanthin Market by Source (Natural, Synthetic), Form (Dry, Liquid), Method of Production (Microalgae Cultivation, Chemical Synthesis, Fermentation), Application (Dietary Supplements, Food & Beverages, Cosmetics), and Region - Global Forecast to 2026
[230 Pages Report] The global astaxanthin market was estimated to be valued at USD 647.1 million in 2021; it is projected to reach USD 965.8 million by 2026, recording a CAGR of 8.3% during the forecast period. Astaxanthin is a carotenoid found in marine organisms, such as microalgae, crustaceans, salmon, and trout. Since astaxanthin improves animal health & vitality, it is widely used in feed. The benefits of astaxanthin for humans can be attributed to its antioxidant and anti-inflammatory properties. Astaxanthin is synthesized from both natural and synthetic sources. Natural sources, which have no side effects, are the safest to consume. However, as the price of natural astaxanthin is comparatively higher, most feed applications utilize synthetic astaxanthin. Natural astaxanthin is mainly used for human consumption. The feed segment dominated the market for astaxanthin, while its use for human consumption is at a nascent stage with high scope of growth.
The growth in the astaxanthin market is attributed to the growing health awareness among consumers, leading to an increase in the adoption of healthier diets. Food safety concerns & adherence to stringent international quality standards and regulations restrain the growth of the global market. Accounting for the largest share, Asia Pacific offers great opportunities to manufacturers and suppliers of astaxanthin, owing to the cost advantage and high demand in this region. The North American market is projected to grow at the highest CAGR, driven by increasing consumer demand for healthy convenience food due to their busy lifestyles.
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Impact of COVID-19
COVID-19 is projected to have a considerable impact on the growth of the astaxanthin market. In the optimistic scenario, it is assumed that the impact would be positive, and end-use manufacturers are willing to buy astaxanthin, considering the rise in demand for nutritive convenient, and fortified food products. In addition, as the trade barriers would be relaxed to rebuild economies, trading will be easier. In the realistic scenario, it is assumed that there could be regulatory and trade hindrances that would have a moderate impact on the market growth.
The COVID-19 pandemic is expected to significantly impact the astaxanthin market as the current crisis has highlighted the significance of safe, healthy, and nutritive eating habits among consumers across the globe. While ingredient sales span across the countries, key companies in the astaxanthin market have also begun to establish regional production, R&D, and sales departments. They are also optimizing supply chains for the distribution of raw materials. Amid the COVID-19 outbreak, astaxanthin manufacturers face significant challenges to address the demand for the increased functional food products to include changing tastes and preferences. The prices of raw materials are projected to increase due to trade barriers, disruptions in the supply of raw materials, and inefficient distribution channels due to COVID-19. The non-availability and high cost of raw materials, and high production costs are likely to create challenges for the growth of the global market.
Various opportunities in near future such as government initiatives to support aquaculture and growing demand for astaxanthin in the pharmaceutical industry will boost the demand of astaxanthins globally.
he aquaculture industry is growing due to various initiatives undertaken by the governments of distinguished countries worldwide. For instance, Pradhan Mantri Matsya Smapada Yojana (PMMSY) aims to upkeep the aquaculture industry and augment production; it also includes an export approach to help double farmers' income. Similarly in other countries, the USAID-funded Ba Nafaa project in West Africa, the USAID-funded Fisheries Improved for Sustainable Harvest (FISH) Project in the Philippines, the Management of Aquatic Ecosystems through Community Husbandry (MACH) project in Bangladesh, the SUCCESS fisheries management programs in three West African countries, and the Global FISH Alliance in the spiny lobster fishery of Honduras. The above-mentioned initiatives provide support and flexibility to manufacturers in the aquafeed industry and provide them the opportunity to further expand globally. Aquaculture is the largest market for astaxanthin, wherein the growth of aquafeed is expected to directly result in the growth of the astaxanthin market.
Market Dynamics
Drivers: Rapid industrialization of the feed industry
Aquaculture and animal feed industries are highly dependent on feed additives for higher nutritive benefits for animals. Essentially, astaxanthin adds nutritional value and pigmentation to animal feed. Thus, the industrialization of poultry and aquaculture businesses has driven the market for astaxanthin since these end user industries value health of animals. The significant growth in fisheries and aquaculture production has resulted in the increased consumption of diversified nutritious food products. The global consumption of seafood has increased owing to the rising consumer awareness regarding the health benefits of consuming fish and other aquaculture species.
Restraints: High cost of production of natural astaxanthin
Astaxanthin can be synthesized naturally as well as synthetically. Synthetic astaxanthin is made of different chemical formulations from petroleum products and is available at comparatively cheaper rates in the market. On the other hand, natural astaxanthin is produced through the fermentation and extraction process involving various bacteria, fungi, yeast, marine animals, and algae. This natural astaxanthin is comparatively difficult to produce and is costlier than the synthetic version.
Opportunities: Growing demand for natural antioxidants
There is a growing demand for natural carotenoids in their pure form as compared to synthetic carotenoids, especially in the dietary supplements sector, due to their high effectiveness and quality. The current methods used for natural means of production of carotenoids are limited and subject to contamination. These methods are costly, and thus, the prices of natural carotenoids such as beta-carotene and lycopene are almost three times higher than those of synthetic carotenoids.
Challenges: Stringent government regulations in developed countries
The regulatory standards for application areas of astaxanthin are observed to be different in all regions. In the US, the FDA regulates nutraceuticals under a different set of regulations. According to the Dietary Supplement Health and Education Act, 1994 (DSHEA), it is the manufacturer's obligation to ensure that a nutraceutical-based product or ingredient is safe before it is marketed. Moreover, the FDA is authorized to take action against any hazardous product only after it reaches the market. Therefore, manufacturers are required to ensure the product label and be transparent about information.
The growing awareness about the health benefits of natural astaxanthin the demand for astaxanthin is expected to increase in the coming years.
Natural astaxanthin is primarily extracted from astaxanthin-containing marine plants, such as algae and biosynthesized, by living microalgae or yeast production. It is over 95% esterified and is 3.5 times more expensive as compared to synthetic astaxanthin. Natural astaxanthin is commonly preferred by the end-user industry as consumers are willing to spend more to get higher-quality products, and their harvest is usually done by centrifugation, drying, and cracking of the Haematococcus pluvialis cells.
Liquid form is projected to witness the highest growth during the forecast period.
Astaxanthin in the liquid form is used for manufacturing soft gels, oil extracts, and beadlets. Liquid astaxanthin finds various applications, such as syrups and texturing agents used in the food, beverage, and pharmaceutical industries. Liquid nutraceutical ingredients are difficult to use during scaling and temperature. However, astaxanthin in the liquid form is still used in various applications discussed above.
The microalgae cultivation segment, by method of production, is projected to be the fastest-growing at a CAGR of 9.4% during the forecast period.
The microalga H. Pluvialis is the richest source of astaxanthin. It contains 5% of dried H. pluvialis biomass, of which 90% comprises astaxanthin. The cultivation process consists of two stages—the green stage and the red stage. In the green stage, a single-cell colony of microalgae is allowed to grow unstressed by normal cell division. Optimal growth conditions are given to the “green” algal cells for maximum growth. In the second stage, cells are put through various stress conditions, such as high radiation intensity and changes in growth media. These conditions result in the production and accumulation of natural astaxanthin in the cells in the esterified form.
The Asia Pacific region dominated the astaxanthin market and is projected to grow at a significant CAGR of 8.4% by 2026.
The overall economic growth in the Asia Pacific region has led to an increase in urbanization and rapid industrialization. Hence, the consumption levels of astaxanthin differ from country to country and region to region. The increasing preference among consumers for healthy food and the high demand for meat and seafood are some of the major factors for the growth of animal feed applications of astaxanthin in the region. Asia Pacific offers great opportunities to manufacturers and suppliers of astaxanthin, owing to the cost advantage and high demand in this region.
Key Market Players
The key service providers in this market include Koninklijke DSM N.V. (the Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Otsuka Holdings Co. Ltd. (Japan), Divi’s Laboratories Ltd. (India), Valensa International (US), Fuji Chemical Industries Co. Ltd. (Japan), Beijing Gingko Group (China), Cardax, Inc. (Denmark), Piveg, Inc (US), Fenchem Biotek Ltd. (China), Algatech Ltd. (Israel), Supreme Biotechnologies (New Zealand), Igene Biotechnology Inc. (US), Algamo (Czech Republic), Biogenic Co. Ltd. (Japan), Astamaz NZ Ltd. (New Zealand), Algalif (Iceland), Algae to Omega (US), and Algae Health Sciences (US).
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Report Metric |
Details |
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Market size estimation |
2016–2026 |
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Base year considered |
2020 |
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Forecast period considered |
2021–2026 |
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Market size value in 2021 |
USD 647.1 million |
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Revenue forecast in 2026 |
USD 965.8 million |
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Growth rate |
CAGR of 8.3% from 2021 to 2026 |
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Units considered |
Value (USD) & Volume (Tons) |
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Segments covered |
Sources, forms, methods of production, applications, and regions. |
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Regions covered |
North America, Asia Pacific, Europe, and RoW |
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Companies studied |
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The astaxanthin market report categorizes into the following segments: sources, forms, methods of production, applications, and regions.
Target Audience
- Astaxanthin manufacturers
- Food ingredient manufacturers
- Astaxanthin importers and exporters
- Raw material suppliers
- Astaxanthin processors
- Regulatory bodies
- Organizations such as the US Food and Drug Administration (FDA)
- United States Department of Agriculture (USDA)
- European Food Safety Agency (EFSA)
- EUROPA
- Natural Algae Astaxanthin Association
- Codex Alimentarius
- Food Safety Australia and New Zealand (FSANZ)
- Government agencies
- Intermediary suppliers, such as traders, distributors, and suppliers of astaxanthin and end products
- End users
By source
- Natural
- Plants
- Yeast & microbes
- Marine animals
- Synthetic (Petroleum)
By form:
- Dry
- Liquid
By method of production
- Microalgae cultivation
- Fermentation
- Extraction
- Chemical synthesis
By application
- Feed
- Dietary supplements
- Food & beverages
- Cosmetics
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW) (South America, Middle East & Africa)
Recent Developments
- In December 2020, BASF partnered with Adifo Software to launch a digital solution for the animal agriculture value chain by integrating sustainability analytics. This partnership significantly helped BASF advance in feed formulation.
- In October 2020, Koninklijke DSM N.V. acquired Erber Group’s Biomin, a specialty animal nutrition and health business. This acquisition will further strengthen Koninklijke DSM N.V. expertise and reputation as a leading provider of animal health and nutrition solutions for farm productivity and sustainability, with an emphasis on emissions reduction, feed consumption efficiency, and better use of water and land.
- In March 2019, Algatech Ltd. partnered with For the Biome to launch new products for topical applications. This partnership would help the company offer new products in the beauty and natural skincare segment.
- In November 2018, Cyanotech Corporation expands its R&D facility by acquiring the Cellana Demonstration Facility adjacent to the northern border of its existing production site. This upgraded and expanded lab space has facilitated the R&D.
Frequently Asked Questions (FAQ):
Which region is projected to account for the largest share in the astaxanthin market?
The Asia Pacific market accounted for the largest share in 2020. With busy lifestyles, the demand for fortified nutritional food & is growing in the region. Thus, the application of astaxanthin in these fortified food & beverage products is expected to increase at a faster pace due to growing demand from consumers. Asia pacific has also started various projects concerning microalgal biomass production. For instance, companies such as Sea6 Energy (India) and Muradel Pty Ltd. (Australia) are engaged in production of food additives, oleochemicals, biofuel, bioplastic, and animal feed in seawater using microalgae cultivation.
How would COVID-19 impact the fluctuations in active ingredient raw material prices of astaxanthin products?
The prices of raw materials are projected to increase due to trade barriers, disruptions in the supply of raw materials, and inefficient distribution channels due to COVID-19. The non-availability and high cost of raw materials, and high production costs are likely to create challenges for the growth of the global astaxanthin market.
Which are the key players in the market, and how intense is the competition?
The global market for astaxanthin is dominated by large-scale players, such as BASF SE (Germany), Koninklijke DSM N.V. (The Netherlands), and Fuji Chemical Industries Co., Ltd. (Japan). Other players include Cyanotech Corporation (US), Valensa International (U.S.), Otsuka Holdings Co. Ltd. (Japan), and Algatech Ltd. (Israel). These companies cater to the requirements of the different end-user industries. Moreover, these companies have effective global manufacturing operations and supply chain strategies. Such advantages give these companies an edge over other companies.
What is the COVID-19 impact on the astaxanthin market?
The COVID-19 pandemic is expected to significantly impact the astaxanthin market as the current crisis has highlighted the significance of safe, healthy, and nutritive eating habits among consumers across the globe. While ingredient sales span across the countries, key companies in the astaxanthin market have also begun to establish regional production, R&D, and sales departments. They are also optimizing supply chains for the distribution of raw materials. Amid the COVID-19 outbreak, astaxanthin manufacturers face significant challenges to address the demand for the increased functional food products to include changing tastes and preferences. .
What is the leading application in the astaxanthin market?
The feed segment was the highest revenue contributor to the market, with USD 392.3 million in 2020, and is estimated to reach USD 616.7 million by 2026, with a CAGR of 7.9%. The food & beverages segment is estimated to reach USD 53.7 million by 2026, at a significant CAGR of 9.5% during the forecast period.
What is the estimated industry size of astaxanthin?
The global astaxanthin market was valued at USD 598.9 million in 2020, and is projected to reach USD 965.8 million by 2026, registering a CAGR of 8.3% from 2021 to 2026.
What is the CAGR of natural astaxanthin market?
The global natural astaxanthin segment was valued at USD 225.9 million in 2020, and is estimated to reach USD 372.7 million by 2026, with a CAGR of 8.8%.
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 28)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
FIGURE 1 MARKET SEGMENTATION
1.3.1 INCLUSIONS AND EXCLUSIONS
1.4 REGIONS COVERED
1.5 PERIODIZATION CONSIDERED
1.6 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES, 2016–2020
1.7 VOLUME UNIT CONSIDERED
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 34)
2.1 RESEARCH DATA
FIGURE 2 ASTAXANTHIN MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key industry insights
2.1.2.2 Breakdown of primary interviews
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET SIZE ESTIMATION
FIGURE 4 ASTAXANTHIN MARKET SIZE ESTIMATION – SUPPLY SIDE (1/2)
FIGURE 5 MARKET SIZE ESTIMATION – SUPPLY SIDE (2/2)
FIGURE 6 MARKET SIZE ESTIMATION – DEMAND SIDE
2.2.1 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
FIGURE 7 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
2.2.2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 8 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
FIGURE 9 DATA TRIANGULATION
2.4 ASSUMPTIONS FOR THE STUDY
2.5 RESEARCH LIMITATIONS & ASSOCIATED RISKS
2.6 MARKET SCENARIOS CONSIDERED FOR THE IMPACT OF COVID-19
2.6.1 SCENARIO-BASED MODELING
2.7 COVID-19 HEALTH ASSESSMENT
FIGURE 10 COVID-19: GLOBAL PROPAGATION
FIGURE 11 COVID-19 PROPAGATION: SELECT COUNTRIES
2.8 COVID-19 ECONOMIC ASSESSMENT
FIGURE 12 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
2.8.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
FIGURE 13 CRITERIA IMPACTING GLOBAL ECONOMY
FIGURE 14 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
3 EXECUTIVE SUMMARY (Page No. - 51)
TABLE 2 ASTAXANTHIN MARKET SNAPSHOT, 2021 VS. 2026
FIGURE 15 IMPACT OF COVID-19 ON THE ASTAXANTHIN MARKET SIZE, BY SCENARIO, 2020 VS. 2021 (USD MILLION)
FIGURE 16 ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2021 VS. 2026 (USD MILLION)
FIGURE 17 MARKET SHARE (VALUE), BY FORM, 2021 VS. 2026
FIGURE 18 MARKET SIZE, BY SOURCE, 2021 VS. 2026 (USD MILLION)
FIGURE 19 MARKET SIZE, BY METHOD OF PRODUCTION, 2021 VS. 2026 (USD MILLION)
FIGURE 20 MARKET SHARE (VALUE), BY REGION, 2020
4 PREMIUM INSIGHTS (Page No. - 57)
4.1 ATTRACTIVE OPPORTUNITIES IN THE GLOBAL MARKET
FIGURE 21 GROWING HEALTH AWARENESS REGARDING ANTIOXIDANT PROPERTIES AMONG CONSUMERS TO DRIVE THE DEMAND FOR ASTAXANTHIN
4.2 ASTAXANTHIN MARKET, BY KEY COUNTRY
FIGURE 22 US TO BE THE FASTEST-GROWING MARKET DURING THE FORECAST PERIOD
4.3 ASIA PACIFIC: ASTAXANTHIN MARKET, BY SOURCE & KEY COUNTRY
FIGURE 23 SYNTHETIC SEGMENT AND CHINA TO ACCOUNT FOR THE LARGEST SHARES OF THE ASIA PACIFIC MARKET IN 2020
4.4 ASTAXANTHIN MARKET, BY APPLICATION & REGION
FIGURE 24 FEED APPLICATIONTO DOMINATE THE MARKET ACROSS ASIA PACIFIC IN 2020
4.5 ASTAXANTHIN MARKET, BY FORM & REGION
FIGURE 25 LIQUID FORM TO BE THE FASTER-GROWING SEGMENT DURING THE FORECAST PERIOD
4.6 COVID-19 IMPACT ON THE ASTAXANTHIN MARKET
FIGURE 26 CHART OF PRE & POST-COVID SCENARIOS IN THE ASTAXANTHIN MARKET
5 MARKET OVERVIEW (Page No. - 61)
5.1 INTRODUCTION
5.2 MACROECONOMIC INDICATORS
5.2.1 DEVELOPMENT IN THE RETAIL INDUSTRY
FIGURE 27 RETAIL MARKET SIZE IN INDIA, 2021 (USD BILLION)
FIGURE 28 AUSTRALIA: RETAIL SALES OF FUNCTIONAL AND FORTIFIED FOOD PRODUCTS, 2018–2022 (USD MILLION)
FIGURE 29 ONLINE RETAIL MARKET SIZE IN INDIA, 2021 (USD BILLION)
5.2.2 RISE IN THE NUMBER OF DUAL-INCOME HOUSEHOLDS
FIGURE 30 US: EMPLOYMENT STATUS OF PARENTS WITH CHILDREN UNDER 18 YEARS, 2020
5.3 MARKET DYNAMICS
FIGURE 31 ASTAXANTHIN: MARKET DYNAMICS
5.3.1 DRIVERS
5.3.1.1 Rising consumer inclination toward preventive healthcare & nutraceuticals
FIGURE 32 WORLD HEALTH PER CAPITA EXPENDITURE, 2006-2018 (USD THOUSAND)
FIGURE 33 HEALTH EXPENDITURE: US VS. OTHER COUNTRIES, 2006-2018, (AS PERCENTAGE OF GDP)
5.3.1.2 Rapid industrialization of the feed industry
FIGURE 34 FEED CONSUMPTION SHARE (VOLUME), BY LIVESTOCK TYPE, 2018
5.3.1.3 Increasing demand for cosmetic products
FIGURE 35 ANNUAL GROWTH OF THE GLOBAL COSMETIC MARKET (PERCENTAGE), 2010-2019
5.3.2 RESTRAINTS
5.3.2.1 High cost of production of natural astaxanthin
5.3.2.2 Lack of R&D activities in the underdeveloped countries
5.3.3 OPPORTUNITIES
5.3.3.1 Government initiatives to support aquaculture
FIGURE 36 WORLD FISHERIES AND AQUACULTURE PRODUCTION (MILLION TONNES), 2010-2018
5.3.3.2 Growing demand for natural antioxidants
5.3.3.3 Growing demand for astaxanthin in the pharmaceutical industry
5.3.4 CHALLENGES
5.3.4.1 Risks associated with adulteration and clean label requirements
5.3.4.2 Stringent government regulations in developed countries
5.4 IMPACT OF COVID-19 ON THE MARKET DYNAMICS
5.4.1 COVID-19 BOOSTS THE DEMAND FOR HIGH-QUALITY AND PREMIUM FOOD & BEVERAGES PRODUCTS
5.4.2 COVID-19 IMPACT ON RAW MATERIAL AVAILABILITY AND SUPPLY CHAIN DISRUPTION
5.4.3 COVID-19 TO SHIFT THE DEMAND TOWARD PLANT-SOURCED INGREDIENTS
6 INDUSTRY TRENDS (Page No. - 75)
6.1 INTRODUCTION
6.2 SUPPLY CHAIN ANALYSIS
FIGURE 37 ASTAXANTHIN MARKET: SUPPLY CHAIN ANALYSIS
6.3 ECOSYSTEM
FIGURE 38 ASTAXANTHIN: MARKET MAP
TABLE 3 ASTAXANTHIN MARKET: ECOSYSTEM
6.3.1 UPSTREAM
6.3.2 INGREDIENT MANUFACTURERS
6.3.3 TECHNOLOGY PROVIDERS
6.3.4 END USERS
6.3.4.1 Downstream
6.3.5 REGULATORY BODIES
6.3.6 STARTUPS/EMERGING COMPANIES
6.4 VALUE CHAIN ANALYSIS
FIGURE 39 ASTAXANTHIN MARKET: VALUE CHAIN ANALYSIS
6.5 TECHNOLOGY ANALYSIS
6.5.1 ASTAXANTHIN AND MICROENCAPSULATION
6.5.2 ASTAXANTHIN AND ROBOTS
6.6 PRICING ANALYSIS: ASTAXANTHIN MARKET, BY SOURCE
FIGURE 40 PRICING TREND OF THE ASTAXANTHIN, 2016–2020 (USD/TON)
6.7 TRENDS/DISRUPTIONS IMPACTING THE CUSTOMER’S BUSINESS
FIGURE 41 YC-YCC: REVENUE SHIFT FOR THE ASTAXANTHIN MARKET
6.8 PORTER’S FIVE FORCES ANALYSIS
TABLE 4 ASTAXANTHIN MARKET: PORTER’S FIVE FORCES ANALYSIS
6.8.1 INTENSITY OF COMPETITIVE RIVALRY
6.8.2 BARGAINING POWER OF SUPPLIERS
6.8.3 BARGAINING POWER OF BUYERS
6.8.4 THREAT OF NEW ENTRANTS
6.8.5 THREAT OF SUBSTITUTES
6.9 PATENT ANALYSIS
FIGURE 42 PATENT INSIGHTS (2020)
FIGURE 43 LIST OF TOP PATENTS IN THE MARKET FOR THE LAST TEN YEARS
TABLE 5 KEY PATENTS PERTAINING TO ASTAXANTHIN, 2020
6.10 TRADE ANALYSIS
TABLE 6 KEY EXPORTING COUNTRIES WITH EXPORT VALUE OF DIETARY SUPPLEMENTS, 2019 (USD MILLION)
FIGURE 44 IMPORT TARIFF OF KEY COUNTRIES ON DIETARY SUPPLEMENTS, 2019 (%)
6.11 CASE STUDY ANALYSIS
6.11.1 USE CASE 1: TATSEWISE’S AI AND MACHINE LEARNING SOLUTION HELPED MEET THE INCREASING DEMAND
6.11.2 USE CASE 2: MINDRIGHT’S BARS HELPED COMBAT MENTAL HEALTH ISSUES
6.12 REGULATIONS
6.12.1 NORTH AMERICA
6.12.1.1 Canada
6.12.1.2 US
6.12.2 EUROPEAN UNION (EU)
7 ASTAXANTHIN MARKET, BY SOURCE (Page No. - 94)
7.1 INTRODUCTION
FIGURE 45 ASTAXANTHIN MARKET SHARE (VALUE), BY SOURCE, 2021 VS. 2026
TABLE 7 MARKET SIZE, BY SOURCE, 2016–2020 (USD MILLION)
TABLE 8 MARKET SIZE, BY SOURCE, 2021–2026(USD MILLION)
TABLE 9 MARKET SIZE, BY SOURCE, 2016–2020 (TON)
TABLE 10 MARKET SIZE, BY SOURCE, 2021–2026(TON)
7.2 NATURAL SOURCE
7.2.1 INCREASED PREFERENCE FOR NATURAL PRODUCTS
TABLE 11 NATURAL: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 12 NATURAL: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
TABLE 13 NATURAL: MARKET SIZE, BY REGION, 2016–2020 (TON)
TABLE 14 NATURAL: MARKET SIZE, BY REGION, 2021–2026(TON)
TABLE 15 NATURAL: MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
TABLE 16 NATURAL: MARKET SIZE, BY TYPE, 2021–2026(USD MILLION)
7.2.2 PLANTS
7.2.2.1 Microalgae is a non-conventional source of protein due to its high protein content
7.2.3 YEAST & MICROBES
7.2.3.1 Use of yeast-produced astaxanthin in poultry, fishery, cosmetic, pharmaceutical, and food
7.2.4 MARINE ANIMALS
7.2.4.1 Shrimp, krill, salmon, and crustaceans are the major sources of astaxanthin
7.3 SYNTHETIC (PETROLEUM)
7.3.1 LOWER MANUFACTURING COST OF SYNTHETIC ASTAXANTHIN TO DRIVE THE MARKET GROWTH
TABLE 17 SYNTHETIC: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 18 SYNTHETIC: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
TABLE 19 SYNTHETIC: MARKET SIZE, BY REGION, 2016–2020 (TON)
TABLE 20 SYNTHETIC: MARKET SIZE, BY REGION, 2021–2026(TON)
8 ASTAXANTHIN MARKET, BY FORM (Page No. - 103)
8.1 INTRODUCTION
FIGURE 46 ASTAXANTHIN MARKET SHARE (VALUE), BY FORM, 2021 VS. 2026
TABLE 21 MARKET SIZE, BY FORM, 2016–2020 (USD MILLION)
TABLE 22 MARKET SIZE, BY FORM, 2021–2026(USD MILLION)
TABLE 23 MARKET SIZE, BY FORM, 2016–2020 (TON)
TABLE 24 MARKET SIZE, BY FORM, 2021–2026(TON)
8.2 DRY FORM
8.2.1 DRY FORMS ARE MAJORLY USED IN FEED FOOD & BEVERAGES AND COSMETICS
TABLE 25 DRY: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 26 DRY: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
TABLE 27 DRY: MARKET SIZE, BY REGION, 2016–2020 (TON)
TABLE 28 DRY: MARKET SIZE, BY REGION, 2021–2026(TON)
8.3 LIQUID FORM
8.3.1 APPLICATION OF LIQUID ASTAXANTHIN IN SYRUPS AND TEXTURING AGENTS
TABLE 29 LIQUID: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 30 LIQUID: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
TABLE 31 LIQUID: MARKET SIZE, BY REGION, 2016–2020 (TON)
TABLE 32 LIQUID: MARKET SIZE, BY REGION, 2021–2026(TON)
9 ASTAXANTHIN MARKET, BY METHOD OF PRODUCTION (Page No. - 109)
9.1 INTRODUCTION
TABLE 33 ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION, 2016–2020 (USD MILLION)
TABLE 34 MARKET SIZE, BY METHOD OF PRODUCTION, 2021–2026(USD MILLION)
FIGURE 47 MARKET SIZE, BY METHOD OF PRODUCTION, 2021 VS. 2026 (USD MILLION)
9.2 CHEMICAL SYNTHESIS
9.2.1 CHEMICAL SYNTHESIS OF ASTAXANTHIN MORE ECONOMICAL THAN NATURAL PRODUCTION
TABLE 35 CHEMICAL SYNTHESIS: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 36 CHEMICAL SYNTHESIS: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
9.3 MICROALGAE CULTIVATION
9.3.1 NATURAL ASTAXANTHIN FROM MICROALGAE IS IN HIGH DEMAND FOR DIETARY SUPPLEMENTS AND FOOD & BEVERAGES
TABLE 37 MICROALGAE CULTIVATION: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 38 MICROALGAE CULTIVATION: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
9.4 FERMENTATION
9.4.1 ASTAXANTHIN PRODUCED THROUGH FERMENTATION IS WIDELY USED IN AQUACULTURE
TABLE 39 FERMENTATION: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 40 FERMENTATION: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
9.5 EXTRACTION
9.5.1 EXTRACTION OF ASTAXANTHIN FROM SHRIMP WASTE IS HIGHLY ENERGY CONSUMING AND PRODUCE TOXIC BYPRODUCTS
TABLE 41 EXTRACTION: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 42 EXTRACTION: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
10 ASTAXANTHIN MARKET, BY APPLICATION (Page No. - 116)
10.1 INTRODUCTION
FIGURE 48 ASTAXANTHIN MARKET, BY APPLICATION, 2021 VS. 2026 (USD MILLION)
TABLE 43 MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 44 MARKET SIZE, BY APPLICATION, 2021–2026(USD MILLION)
10.2 COVID-19 IMPACT ON THE ASTAXANTHIN MARKET, BY APPLICATION
10.2.1 OPTIMISTIC SCENARIO
TABLE 45 ASTAXANTHIN MARKET SIZE, BY-APPLICATION, 2018–2021 (USD MILLION)
10.2.2 REALISTIC SCENARIO
TABLE 46 MARKET-SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
10.2.3 PESSIMISTIC SCENARIO
TABLE 47 MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
10.3 FEED
10.3.1 ASTAXANTHIN MARKET FOR ANIMAL FEED FOCUSING MAINLY ON THE SYNTHETIC FORM
TABLE 48 FEED: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 49 FEED: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
10.4 DIETARY SUPPLEMENTS
10.4.1 RISING AWARENESS AMONG CONSUMERS FOR NATURAL HEALTH SUPPLEMENTS FUELING THE MARKET GROWTH
TABLE 50 DIETARY SUPPLEMENTS: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 51 DIETARY SUPPLEMENTS: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
10.5 FOOD & BEVERAGES
10.5.1 ASTAXANTHIN AIDS IN REDUCING THE RISK OF HEART ATTACK BY INCREASING THE GOOD HDL CHOLESTEROL
TABLE 52 FOOD & BEVERAGES: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 53 FOOD & BEVERAGES: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
10.6 COSMETICS
10.6.1 ASTAXANTHIN - A POTENT SOURCE OF ANTIOXIDANTS AND VITAMIN A
TABLE 54 COSMETICS: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 55 COSMETICS: MARKET SIZE, BY REGION, 2021–2026(USD MILLION)
11 ASTAXANTHIN MARKET, BY REGION (Page No. - 126)
11.1 INTRODUCTION
TABLE 56 ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 57 MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
11.2 COVID-19 IMPACT ON THE ASTAXANTHIN MARKET, BY REGION
11.2.1 OPTIMISTIC SCENARIO
TABLE 58 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON THE ASTAXANTHIN MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
11.2.2 REALISTIC SCENARIO
TABLE 59 REALISTIC SCENARIO: COVID-19 IMPACT ON THE ASTAXANTHIN MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
11.2.3 PESSIMISTIC SCENARIO
TABLE 60 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON THE ASTAXANTHIN MARKET, BY REGION, 2018–2021 (USD MILLION)
11.3 NORTH AMERICA
FIGURE 49 NORTH AMERICAN ASTAXANTHIN MARKET: A SNAPSHOT
TABLE 61 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
TABLE 62 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 63 NORTH AMERICA: MARKET SIZE, BY SOURCE, 2016–2020 (USD MILLION)
TABLE 64 NORTH AMERICA: MARKET SIZE, BY SOURCE, 2021–2026 (USD MILLION)
TABLE 65 NORTH AMERICA: MARKET SIZE, BY SOURCE, 2016–2020 (TONS)
TABLE 66 NORTH AMERICA: MARKET SIZE, BY SOURCE, 2021–2026 (TONS)
TABLE 67 NORTH AMERICA: MARKET SIZE, BY FORM, 2016–2020 (USD MILLION)
TABLE 68 NORTH AMERICA: MARKET SIZE, BY FORM, 2021–2026 (USD MILLION)
TABLE 69 NORTH AMERICA: MARKET SIZE, BY FORM, 2016–2020 (TON)
TABLE 70 NORTH AMERICA: MARKET SIZE, BY FORM, 2021–2026 (TON)
TABLE 71 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 72 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
TABLE 73 NORTH AMERICA: MARKET SIZE, BY METHOD OF PRODUCTION, 2016–2020 (USD MILLION)
TABLE 74 NORTH AMERICA: MARKET SIZE, BY METHOD OF PRODUCTION, 2021–2026 (USD MILLION)
11.3.1 US
11.3.1.1 Astaxanthin is majorly used for pigmenting salmon, owing to which demand for astaxanthin is high in the US
TABLE 75 US: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 76 US: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.3.2 CANADA
11.3.2.1 The Canadian market has increased the natural color market for food applications in the country
TABLE 77 CANADA: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 78 CANADA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.3.3 MEXICO
11.3.3.1 Strong presence of the food & beverage industry has driven the nutraceutical market growth
TABLE 79 MEXICO: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 80 MEXICO: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.4 ASIA PACIFIC
FIGURE 50 ASIA PACIFIC: ASTAXANTHIN MARKET SNAPSHOT
TABLE 81 ASIA PACIFIC: MARKET SIZE, BY COUNTRY/REGION, 2016–2020 (USD MILLION)
TABLE 82 ASIA PACIFIC: MARKET SIZE, BY COUNTRY/REGION, 2021–2026 (USD MILLION)
TABLE 83 AISA PACIFIC: MARKET SIZE, BY SOURCE, 2016–2020 (USD MILLION)
TABLE 84 ASIA PACIFIC: MARKET SIZE, BY SOURCE, 2021–2026 (USD MILLION)
TABLE 85 AISA PACIFIC: MARKET SIZE, BY SOURCE, 2016–2020 (TON)
TABLE 86 ASIA PACIFIC: MARKET SIZE, BY SOURCE, 2021–2026 (TON)
TABLE 87 ASIA PACIFIC: MARKET SIZE, BY FORM, 2016–2020 (USD MILLION)
TABLE 88 ASIA PACIFIC: MARKET SIZE, BY FORM, 2021–2026 (USD MILLION)
TABLE 89 ASIA PACIFIC: MARKET SIZE, BY FORM, 2016–2020 (TON)
TABLE 90 ASIA PACIFIC: MARKET SIZE, BY FORM, 2021–2026 (TON)
TABLE 91 ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 92 ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
TABLE 93 ASIA PACIFIC: MARKET SIZE, BY METHOD OF PRODUCTION, 2016–2020 (USD MILLION)
TABLE 94 ASIA PACIFIC: MARKET SIZE, BY METHOD OF PRODUCTION, 2021–2026 (USD MILLION)
11.4.1 CHINA
11.4.1.1 Increasing purchasing power of consumers led to a rise in demand for high-quality processed foods
TABLE 95 CHINA: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 96 CHINA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.4.2 INDIA
11.4.2.1 Increasing consumption of poultry meat is leading to a rise in the demand for astaxanthin
TABLE 97 INDIA: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 98 INDIA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.4.3 AUSTRALIA & NEW ZEALAND
11.4.3.1 As the aquaculture industry is growing, synthetic astaxanthin demand as a feed additive is also increasing
TABLE 99 AUSTRALIA & NEW ZEALAND: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 100 AUSTRALIA & NEW ZEALAND: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.4.4 REST OF ASIA PACIFIC
11.4.4.1 The emerging market for astaxanthin in the Asia Pacific is due to an increase in consumption of functional foods
TABLE 101 REST OF ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 102 REST OF ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.5 EUROPE
TABLE 103 EUROPE: ASTAXANTHIN MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
TABLE 104 EUROPE: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 105 EUROPE: MARKET SIZE, BY SOURCE, 2016–2020 (USD MILLION)
TABLE 106 EUROPE: MARKET SIZE, BY SOURCE, 2021–2026 (USD MILLION)
TABLE 107 EUROPE: MARKET SIZE, BY SOURCE, 2016–2020 (TON)
TABLE 108 EUROPE: MARKET SIZE, BY SOURCE, 2021–2026 (TON)
TABLE 109 EUROPE: MARKET SIZE, BY FORM, 2016–2020 (USD MILLION)
TABLE 110 EUROPE: MARKET SIZE, BY FORM, 2021–2026 (USD MILLION)
TABLE 111 EUROPE: MARKET SIZE, BY FORM, 2016–2020 (TON)
TABLE 112 EUROPE: MARKET SIZE, BY FORM, 2021–2026 (TON)
TABLE 113 EUROPE: MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 114 EUROPE: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
TABLE 115 EUROPE: MARKET SIZE, BY METHOD OF PRODUCTION, 2016–2020 (USD MILLION)
TABLE 116 EUROPE: MARKET SIZE, BY METHOD OF PRODUCTION, 2021–2026 (USD MILLION)
11.5.1 GERMANY
11.5.1.1 Dairy and pork feed consumption driving the demand for astaxanthin
TABLE 117 GERMANY: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 118 GERMANY: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.5.2 UK
11.5.2.1 Increased focus on the food & beverage industry boosts the market growth
TABLE 119 UK: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 120 UK: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.5.3 FRANCE
11.5.3.1 France exports high-quality shellfish to US and shrimp to Japan
TABLE 121 FRANCE: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 122 FRANCE: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.5.4 ITALY
11.5.4.1 High industrial applications in the feed and cosmetic industries
TABLE 123 ITALY: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 124 ITALY: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.5.5 SPAIN
11.5.5.1 Astaxanthin is majorly used as a natural colorant in Spain
TABLE 125 SPAIN: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 126 SPAIN: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.5.6 REST OF EUROPE
TABLE 127 REST OF EUROPE: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 128 REST OF EUROPE: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.6 REST OF THE WORLD (ROW)
TABLE 129 ROW: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
TABLE 130 ROW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
TABLE 131 ROW: MARKET SIZE, BY SOURCE, 2016–2020 (USD MILLION)
TABLE 132 ROW: MARKET SIZE, BY SOURCE, 2021–2026 (USD MILLION)
TABLE 133 ROW: MARKET SIZE, BY SOURCE, 2016–2020 (TON)
TABLE 134 ROW: MARKET SIZE, BY SOURCE, 2021–2026 (TON)
TABLE 135 ROW: MARKET SIZE, BY FORM, 2016–2020 (USD MILLION)
TABLE 136 ROW: MARKET SIZE, BY FORM, 2021–2026 (USD MILLION)
TABLE 137 ROW: MARKET SIZE, BY FORM, 2016–2020 (TON)
TABLE 138 ROW: MARKET SIZE, BY FORM, 2021–2026 (TON)
TABLE 139 ROW: MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 140 ROW: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
TABLE 141 ROW: MARKET SIZE, BY METHOD OF PRODUCTION, 2016–2020 (USD MILLION)
TABLE 142 ROW: MARKET SIZE, BY METHOD OF PRODUCTION, 2021–2026 (USD MILLION)
11.6.1 SOUTH AMERICA
11.6.1.1 Increasing industrialization of the aquafeed industry
TABLE 143 SOUTH AMERICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 144 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.6.2 MIDDLE EAST
11.6.2.1 Growth in the natural astaxanthin production due to the presence of key players in the region
TABLE 145 MIDDLE EAST: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 146 MIDDLE EAST: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
11.6.3 AFRICA
11.6.3.1 Large livestock population is driving the market for astaxanthin
TABLE 147 AFRICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
TABLE 148 AFRICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
12 COMPETITIVE LANDSCAPE (Page No. - 165)
12.1 OVERVIEW
12.2 MARKET SHARE ANALYSIS
TABLE 149 ASTAXANTHIN MARKET: DEGREE OF COMPETITION
12.3 KEY PLAYER STRATEGIES
12.4 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS
FIGURE 51 FIVE-YEAR SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS IN THE MARKET, 2016–2020 (USD BILLION)
12.5 COVID-19-SPECIFIC COMPANY RESPONSE
12.5.1 BASF SE
12.5.2 CYANOTECH CORPORATION
12.5.3 DIVI’S LABORATORIES LTD.
12.5.4 COMPANY EVALUATION QUADRANT (KEY PLAYERS)
12.5.4.1 Stars
12.5.4.2 Emerging leaders
12.5.4.3 Pervasive players
12.5.4.4 Participants
FIGURE 52 ASTAXANTHIN MARKET: COMPANY EVALUATION QUADRANT, 2020 (KEY PLAYERS)
12.5.5 PRODUCT FOOTPRINT
TABLE 150 COMPANY SOURCE FOOTPRINT
TABLE 151 COMPANY APPLICATION FOOTPRINT
TABLE 152 COMPANY REGION FOOTPRINT
TABLE 153 COMPANY PRODUCT FOOTPRINT
12.5.6 COMPETITIVE EVALUATION QUADRANT (OTHER PLAYERS)
12.5.6.1 Progressive companies
12.5.6.2 Starting blocks
12.5.6.3 Responsive companies
12.5.6.4 Dynamic companies
FIGURE 53 ASTAXANTHIN MARKET: COMPANY EVALUATION QUADRANT, 2020 (OTHER PLAYERS)
12.6 PRODUCT LAUNCHES, DEALS, AND OTHER DEVELOPMENTS
12.6.1 PRODUCT LAUNCHES
TABLE 154 PRODUCT LAUNCHES, AUGUST 2018–OCTOBER 2020
12.6.2 DEALS
TABLE 155 DEALS, SEPTEMBER 2017–DECEMBER 2020
12.6.3 OTHERS
TABLE 156 EXPANSIONS, APRIL 2017–NOVEMBER 2018
13 COMPANY PROFILES (Page No. - 180)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
13.1 KEY PLAYERS
13.1.1 KONINKLIJKE DSM N.V.
TABLE 157 KONINKLIJKE DSM N.V.: BUSINESS OVERVIEW
FIGURE 54 KONINKLIJKE DSM N.V.: COMPANY SNAPSHOT
TABLE 158 KONINKLIJKE DSM N.V.: PRODUCTS OFFERED
TABLE 159 ASTAXANTHIN MARKET: DEALS, SEPTEMBER 2017–OCTOBER 2020
TABLE 160 MARKET: OTHERS, APRIL 2017
13.1.2 BASF SE
TABLE 161 BASF SE: BUSINESS OVERVIEW
FIGURE 55 BASF SE: COMPANY SNAPSHOT
TABLE 162 BASF SE: PRODUCTS OFFERED
TABLE 163 MARKET: PRODUCT LAUNCHES, AUGUST 2018
TABLE 164 MARKET: DEALS, DECEMBER 2020
13.1.3 CYANOTECH CORPORATION
TABLE 165 CYANOTECH CORPORATION: BUSINESS OVERVIEW
FIGURE 56 CYANOTECH CORPORATION: COMPANY SNAPSHOT
TABLE 166 CYANOTECH CORPORATION: PRODUCTS OFFERED
TABLE 167 ASTAXANTHIN MARKET: PRODUCT LAUNCHES, OCTOBER 2020
TABLE 168 MARKET: OTHERS, NOVEMBER 2018
13.1.4 OTSUKA HOLDINGS CO., LTD.
TABLE 169 OTSUKA HOLDINGS CO., LTD.: BUSINESS OVERVIEW
FIGURE 57 OTSUKA HOLDINGS CO., LTD.: COMPANY SNAPSHOT
TABLE 170 OTSUKA HOLDINGS CO., LTD.: PRODUCTS OFFERED
13.1.5 DIVI’S LABORATORIES LTD.
TABLE 171 DIVI’S LABORATORIES LTD.: BUSINESS OVERVIEW
FIGURE 58 DIVI’S LABORATORIES LTD.: COMPANY SNAPSHOT
TABLE 172 DIVI’S LABORATORIES LTD.: PRODUCTS OFFERED
13.1.6 VALENSA INTERNATIONAL
13.1.6.1 Business overview
TABLE 173 VALENSA INTERNATIONAL: BUSINESS OVERVIEW
TABLE 174 VALENSA INTERNATIONAL: PRODUCTS OFFERED
13.1.7 FUJI CHEMICAL INDUSTRIES CO., LTD.
TABLE 175 FUJI CHEMICAL INDUSTRIES CO., LTD.: BUSINESS OVERVIEW
TABLE 176 FUJI CHEMICAL INDUSTRIES CO., LTD.: PRODUCTS OFFERED
13.1.8 BEIJING GINGKO GROUP
TABLE 177 BEIJING GINGKO GROUP: BUSINESS OVERVIEW
TABLE 178 BEIJING GINGKO GROUP: PRODUCTS OFFERED
13.1.9 CARDAX, INC.
TABLE 179 CARDAX, INC.: BUSINESS OVERVIEW
FIGURE 59 CARDAX, INC.: COMPANY SNAPSHOT
TABLE 180 CARDAX, INC.: PRODUCTS OFFERED
TABLE 181 ASTAXANTHIN MARKET: DEALS, FEBRUARY 2018
13.1.10 PIVEG, INC.
TABLE 182 PIVEG, INC.: BUSINESS OVERVIEW
TABLE 183 PIVEG, INC.: PRODUCTS OFFERED
13.2 OTHER PLAYERS
13.2.1 FENCHEM BIOTEK LTD.
TABLE 184 FENCHEM BIOTEK LTD.: BUSINESS OVERVIEW
TABLE 185 FENCHEM BIOTEK LTD.: PRODUCTS OFFERED
13.2.2 ALGATECH LTD.
TABLE 186 ALGATECH LTD.: BUSINESS OVERVIEW
TABLE 187 ALGATECH LTD.: PRODUCTS OFFERED
TABLE 188 ASTAXANTHIN MARKET: PRODUCT LAUNCHES, MAY 2019
TABLE 189 MARKET: DEALS, MAY 2018–MARCH 2019
13.2.3 SUPREME BIOTECHNOLOGIES
TABLE 190 SUPREME BIOTECHNOLOGIES: BUSINESS OVERVIEW
TABLE 191 SUPREME BIOTECHNOLOGIES: PRODUCTS OFFERED
13.2.4 IGENE BIOTECHNOLOGY INC.
TABLE 192 IGENE BIOTECHNOLOGY INC.: BUSINESS OVERVIEW
TABLE 193 IGENE BIOTECHNOLOGY INC.: PRODUCTS OFFERED
13.2.5 ALGAMO
TABLE 194 ALGAMO: BUSINESS OVERVIEW
TABLE 195 ALGAMO: PRODUCTS OFFERED
13.2.6 BIOGENIC CO., LTD.
13.2.7 ASTAMAZ NZ LTD.
13.2.8 ALGALIF
13.2.9 ALGAE TO OMEGA
13.2.10 ALGAE HEALTH SCIENCES, INC.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
14 ADJACENT & RELATED MARKETS (Page No. - 215)
14.1 INTRODUCTION
14.2 LIMITATIONS
14.3 CAROTENOIDS MARKET
14.3.1 MARKET DEFINITION
14.3.2 MARKET OVERVIEW
14.3.3 CAROTENOIDS MARKET, BY APPLICATION
TABLE 196 CAROTENOIDS MARKET SIZE, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 197 CAROTENOIDS MARKET SIZE, BY APPLICATION, 2017–2026 (TON)
14.3.4 CAROTENOIDS MARKET, BY REGION
TABLE 198 CAROTENOIDS MARKET SIZE, BY REGION, 2017–2026 (USD MILLION)
TABLE 199 CAROTENOIDS MARKET SIZE, BY REGION, 2017–2026 (TON)
14.4 FEED PIGMENTS MARKET
14.4.1 LIMITATIONS
14.4.2 MARKET DEFINITION
14.4.3 MARKET OVERVIEW
14.4.4 FEED PIGMENTS MARKET, BY TYPE
TABLE 200 FEED PIGMENTS MARKET SIZE, BY TYPE, 2013–2020 (USD MILLION)
TABLE 201 FEED PIGMENTS MARKET SIZE, BY CAROTENOID TYPE, 2013–2020 (USD MILLION)
14.4.5 FEED PIGMENTS MARKET, BY REGION
14.4.5.1 Introduction
TABLE 202 FEED PIGMENTS MARKET SIZE, BY REGION, 2013–2020 (USD MILLION)
TABLE 203 FEED PIGMENTS MARKET SIZE, BY REGION, 2013–2020 (KT)
15 APPENDIX (Page No. - 222)
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 AVAILABLE CUSTOMIZATIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
The study involved four major activities in estimating the market size for astaxanthin. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were referred to, for identifying and collecting information for this study. These sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles from recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification & segmentation according to industry trends to the bottom-most level, and geographical markets. It was also used to obtain information on the key developments from a market-oriented perspective.
Primary Research
The astaxanthin market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of the astaxanthin market has the presence of key feed manufacturers, dietary supplement manufacturers, cosmetic, nutraceutical, and food & beverage manufacturers. The supply side has the presence of astaxanthin manufacturers and key technology providers producing astaxanthin. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative & quantitative information. Primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs from the feed, nutraceuticals, food & beverage, and cosmetic industries. Primary sources from the supply side include research institutions involved in R&D to introduce technology, key opinion leaders, distributors, and astaxanthin manufacturers.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches have been used to estimate and validate the total size of the astaxanthin market. These approaches have also been used extensively to determine the size of the various sub-segments in the market. The research methodology used to estimate the market size includes the following details:
- The key players in the industry and market have been identified through extensive secondary research.
- The astaxanthin value chain and market size in terms of both value and volume have been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All macroeconomic and microeconomic factors affecting the growth of the astaxanthin market were considered while estimating the market size.
- All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the most precise estimations for all segments and sub-segments, the data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using the top-down and bottom-up approaches.
Report Objectives
- To describe and forecast the astaxanthin market based on sources, forms, methods of production, and applications
- To describe and forecast the astaxanthin market, in terms of value, by regions—Asia Pacific, Europe, North America, and the Rest of the World—along with their respective countries
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micro markets, with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of astaxanthin
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the astaxanthin ecosystem
- To strategically profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
- To analyze strategic approaches such as acquisitions and divestments; expansions and investments; product launches and approvals; agreements; and collaborations and partnerships in the astaxanthin market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific 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
Geographic Analysis
With the given market data, MarketsandMarkets offers customizations according to the company-specific scientific needs.
- Further breakdown of the Rest of Europe astaxanthin market into Sweden, Poland, Norway, and Greece
- Further breakdown of the Rest of Asia Pacific astaxanthin market into Malaysia, Indonesia, Japan, and Vietnam
Company Information
- Detailed analyses and profiling of additional market players (up to five)
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Growth opportunities and latent adjacency in Astaxanthin Market
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