Astaxanthin Market Driven by Industry Analysis, Growth, Size, Share & Prediction

Posted by Priya on August 16th, 2018

Summary of Astaxanthin Industry:

Astaxanthin is a naturally occurring carotenoid pigment found in algae, plants, and animals. It belongs to a superior class of chemical compounds known as turpentine. It has excellent UV resistance, antioxidant and anti-inflammatory properties, which are driving the market growth. Due these features, it is used in various applications such as feed, supplements, food, health care products and others.

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Top 10 Key Players:

Some of the prominent players operating 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.

Intended Audience

• Astaxanthin Manufacturers
• Traders and Distributors of Astaxanthin
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory

As per our survey, the Global Astaxanthin Market is fragmented by source, form, process, and end-use. The market by source is further divided into natural and chemical. Among these, the natural source is estimated to witness a higher growth over the review period on account of its growing use in food supplements, cosmetics, and others. The chemical sources segment is projected to observe slow growth due to presence of toxic materials and harmful content offered by the product. On the basis of form, the market is further categorized into dry and liquid astaxanthin. The dry astaxanthin segment is anticipated to observe a lightning progress in the market due to its extensive use as a feed for animals and manufacturing cheap products. The boundless use of liquid carotenoid segment in the cosmetics and skin care industry is projected to drive the global market.

Regional Analysis:

The Global Astaxanthin Market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America holds a major share of the market due to the growing demand for carotenoid pigments in feed, supplements, food, health care products, and others. The feed segment is predicted to witness a rapid growth in the market due to growing consumption of haematococcus pluvialis to produce high standard astaxanthin in countries such as U.S.A, Canada and Mexico. It is estimated the health care products segment is set to witness a higher growth in the market during the forecast period, 2017-2023.

In this market, biological and chemical segments are classified on the basis of process. The biological segment holds a major share of the market due to its convenient use in food products, soft gels, dried biomass powder, and others. Feed, supplements, food, health care products, and others are the classifications of end-use segment. Moreover, it is projected that the Astaxanthin Market is set to witness a higher growth owing to growing use of carotenoid pigments during the forecast period, 2017-2023.

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The Asia Pacific region has achieved a remarkable growth due to increasing population and rising per capita income. It is predicted that the rising awareness, and growing consumption of carotenoid pigments for human and animal nourishment are estimated to drive the market over the forecast period. China, Japan, and India are the leading players of this region.