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Astaxanthin Market - Global Growth, Trends and Forecast (2022 - 2029) By Types, By Application, By Regions and By Key Players DSM (AMS: DSM), BASF (ETR: BAS), Cyanotech (NASDAQ: CYAN), Fuji, BGG

01 Jul, 2022 | 165 Pages
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Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Astaxanthin Market size is projected to accrue voluminously by 2029 registering a phenomenal CAGR of 8.45% during the review period (2022 to 2029).

Astaxanthin Market Overview

Astaxanthin is a carotene that belongs to the xanthophyll family. It's a reddish pigment that occurs naturally in some algae and gives salmon, lobster, shrimp, and other shellfish a pink-red hue. Because of its easy availability and cardiovascular advantages, the substance is used as a dietary supplement. Furthermore, the product is about 500 times more powerful than vitamin E and far more effective than other carotenoids like lutein and lycopene.

During the projected period, the worldwide astaxanthin market is expected to be driven by consistent rise in astaxanthin demand, primarily from the food industry. Because of its health benefits, such as increased immunity, anti-inflammatory effects, and the prevention of cardiovascular and cerebrovascular illnesses, astaxanthin has grown in popularity as a food ingredient in recent decades. Astaxanthin has been shown in a number of studies over the last decade to help prevent photoaging, enhance sleep, reduce obesity, protect the vocal cord, combat depression, and increase sperm motility, among other things.

Astaxanthin is in high demand in the food sector, where it is utilized as a food coloring agent and antioxidant to help food items preserve their freshness, color, flavor, and quality. Traditionally, astaxanthin was utilized to protect food nutrients from degradation, improve sensory features, and make food products more appealing. In Europe, astaxanthin has been approved as a required raw material for the production of dietary supplements. However, because astaxanthin is unstable and sensitive to degradation by a range of environmental variables, the astaxanthin market's research efforts are still focused on this sector.

What is our Astaxanthin Market report scope?

 

Report Attributes

 

 

Report Details

 

Forecast Period 2022 to 2029 CAGR

 

CAGR of 8.45 % during the review period (2022 to 2029).

 

By Type

  • Natural Astaxanthin
  • Synthetic Astaxanthin

 

By Application

  • Nutraceuticals
  • Cosmetics
  • Food & Beverages
  • Feed
  • Others

 

 By Companies

 

 

 

 

DSM, BASF, Cyanotech, Fuji, BGG, Yunnan Alphy Biotech, Algatechnologies, Parry Nutraceuticals, Jingzhou Natural Astaxanthin, JX Nippon Oil& Energy, Supreme Biotechnologies, Biogenic, Zhejiang NHU

 

 

 

Regions Covered

 

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

 

 

 

 

 

 

 

 

Countries Covered

  • US
  • Canada
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • Middle East & Africa
  • Latin America

 

Base Year

 

 

2022

 

Historical Year

 

 

2017 to 2021

Forecast Year

 

2022 to 2029

Number of Pages

165

 

Customization Available

 

 

Yes, the report can be customized as per your needs

Frequently Asked Questions

What is the study period of this market?

The Astaxanthin Market is studied from 2017 - 2029.

What is the growth rate of Astaxanthin Market?

The Astaxanthin Market is growing at a CAGR of 8.45 % over the next forecast years.

Who are the key players in Astaxanthin Market?

DSM, BASF, Cyanotech, Fuji, BGG, Yunnan Alphy Biotech, Algatechnologies, Parry Nutraceuticals, Jingzhou Natural Astaxanthin, JX Nippon Oil& Energy, Supreme Biotechnologies, Biogenic, Zhejiang NHU

What region does this Astaxanthin Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Astaxanthin Market?

Natural Astaxanthin, Synthetic Astaxanthin

What are the major end-use applications of Astaxanthin Market?

Nutraceuticals, Cosmetics, Food & Beverages, Feed, Others

Who are the Major Players in Astaxanthin Market?

The Astaxanthin Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market DSM (AMS: DSM), BASF(ETR: BAS), Cyanotech (NASDAQ: CYAN), Fuji, BGG, Yunnan Alphy Biotech, Algatechnologies, Parry Nutraceuticals, Jingzhou Natural Astaxanthin, JX Nippon Oil& Energy, Supreme Biotechnologies, Biogenic, Zhejiang NHU and others.

Industry News:

December 2020: BASF collaborated with Adifo Software to introduce a digital platform for the animal agriculture supply chain that included sustainability analytics. This collaboration significantly aided BASF's advancement in feed formulation.

October 2020: Biomin, a specialized animal health and nutrition business owned by the Erber Group, was acquired by Koninklijke DSM N.V. This acquisition will add to Koninklijke DSM N.V.'s knowledge, experience, and reputation as a leading source of animal health and nutrition options for farm sustainability and productivity, with a focus on reducing emissions, feed consumption efficiency, and improving the use of land & water.

What are the major Applications, Types and Regions for Astaxanthin Market?

By Type, it is segmented into

  • Natural Astaxanthin
  • Synthetic Astaxanthin

By Applications it is segmented into

  • Nutraceuticals
  • Cosmetics
  • Food & Beverages
  • Feed
  • Others

Astaxanthin Market Regional Analysis

Asia Pacific region's overall economic growth has resulted in increased growth and industrialization. As a result, consumption of astaxanthin varies greatly from country to country and area to region. One of the primary elements driving the rise of astaxanthin animal feed applications in the region is the growing customer preference for healthy foods, as well as the limited supply of meat and seafood. Asia Pacific offers significant potential for astaxanthin producers and suppliers, owing to the region's low prices and expanding popularity. As a result, Asia Pacific leads the worldwide astaxanthin market.

The market for Astaxanthin in Asia is predicted to increase rapidly over the next few years, followed by Europe. In Asia, China and India are likely to be the fastest expanding markets.

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Middle East & Africa
    • Latin America

The Astaxanthin Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Astaxanthin Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

  1. Introduction
    1. Research Scope
    2. Market Segmentation
    3. Research Methodology
  2. Executive Summary
  3. Market Dynamics
    1. Market Drivers
    2. Market Restraints
  4. Key Insights
    1. Pricing Analysis, By Key Regions, 2022
    2. Price Comparison (USD Per Ton) By Type (Natural Astaxanthin, Synthetic Astaxanthin) 2021/2022
    3. Price Comparison (USD, Per Ton): By Application (Nutraceuticals, Cosmetics, Food & Beverages, Feed, Others) 2021/2022
    4. Impact of COVID-19 on the Astaxanthin Market
    5. Production Share of Astaxanthin, By Region, 2022
    6. Key Industry Developments
  5. Global Astaxanthin Market Analysis, Insights and Forecast, 2022-2029
    1. Market Analysis, Insights and Forecast – By Application
      1. Nutraceuticals
      2. Cosmetics
      3. Food & Beverages
      4. Feed
      5. Others
    2. Market Analysis, Insights and Forecast – By Type
      1. Natural Astaxanthin
      2. Synthetic Astaxanthin
    3. Market Analysis, Insights and Forecast – By Region
      1. North America
      2. Europe
      3. Asia Pacific
      4. Rest of World
  6. Competitive Analysis
    1. Global Market Share Analysis (2021)
    2. Company Profiles (Overview, Products, SWOT analysis, Recent developments, strategies, financials (based on availability))
      1. DSM
        1. Overview,
        2. Products,
        3. SWOT analysis,
        4. Recent developments,
        5. strategies,
        6. financials (based on availability)
      2. BASF
        1. Overview,
        2. Products,
        3. SWOT analysis,
        4. Recent developments,
        5. strategies,
        6. financials (based on availability)
      3. Cyanotech
        1. Overview,
        2. Products,
        3. SWOT analysis,
        4. Recent developments,
        5. strategies,
        6. financials (based on availability)
      4. Fuji
        1. Overview,
        2. Products,
        3. SWOT analysis,
        4. Recent developments,
        5. strategies,
        6. financials (based on availability)

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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