Astaxanthin Market Size, Share & Trends Analysis Report By Source, By Product (Dried Algae Meal, Oil, Softgel), By Application (Nutraceutical, Cosmetics, Aquaculture and Animal Feed), And Segment Forecasts, 2020 - 2027

Astaxanthin Market Size, Share & Trends Analysis Report By Source, By Product (Dried Algae Meal, Oil, Softgel), By Application (Nutraceutical, Cosmetics, Aquaculture and Animal Feed), And Segment Forecasts, 2020 - 2027

The global astaxanthin market size is expected to reach USD 3.4 billion by 2027, expanding at a CAGR of 16.2%, according to a new report by Grand View Research, Inc. Increasing awareness about nutrition for healthy lifestyle and growing preference for dietary supplements due to high hospitalization costs are factors fueling the demand for nutraceuticals and natural antioxidants, thus driving the market.

The key concerns regarding the adverse effects of chemical-based cosmetics has driven focus on the use of natural cosmetics and pharmaceuticals. Also, nutraceuticals have found a major application in the field of dermatology. For instance, in April 2019, researches in Japan and China investigated the use of astaxanthin on skin aging using mouse model and found that it improved dysregulation of aging-related gene expression.

Astaxanthin is widely used as a high value keto‐carotenoid pigment for coloring of fishes like prawns, salmon, trout, and ornamental fishes, in order to increase their commercial value. Apart from coloring of aquatic animals, the carotenoid also improved the biological properties like improvements in survival, reproductive capacity, growth performance, stress tolerance, immune‐related gene expression, and disease resistance.

Major players are focusing on new product development and collaborative agreements to meet the increasing demand for the carotenoid in aquaculture. For instance, Heliae collaborated with Syndel Laboratories Ltd. for production of producing Nymega-an aquaculture feed ingredient-which was expected to be commercialized in 2017. Thus, increased adoption of the carotenoid in the aforementioned applications is anticipated to drive the market.

Further key findings from the report suggest:

  • Naturally produced astaxanthin held the largest market share of 51.1% in 2019, owing to rising awareness about its multifunctional health benefit and safety
  • Microalgae is expected to be one of the largest and fastest growing natural source segments, due to the increasing use of H. pluvialis for production of high-quality astaxanthin and its ability to generate more astaxanthin even in stressful environmental conditions such as dried ponds
  • Technological advancements used in the manufacturing of synthetic astaxanthin such as two-stage mixotrophic culture system and an attached cultivation system are further fueling market growth
  • Although synthetic astaxanthin is gaining popularity, clinically it is inferior to its natural form, as it is usually manufactured using petrochemicals and has lower level of antioxidants
  • Algatech Ltd. is a biotechnology company that specializes in commercial cultivation, production, and supply of microalgae and AstaPure-a natural astaxanthin, and also provides consultation and post-processing for large-scale microalgae cultivation.
  • The softgel capsules segment is expected to witness lucrative growth over the forecast period due to rapidly gaining acceptance as oral nutraceutical.
  • Nutraceuticals are estimated to grow at a significant pace over the forecast period due to factors such as low adverse effects, antioxidant properties, and high nutritional value.
  • Favorable government regulations, presence of a strong target population with nutritional deficiencies in countries like India, China, and Japan are major factors estimated to provide high growth opportunities to the Asia Pacific region
  • Some of the major players in the astaxanthin market are IGENE Biotechnology, Inc.; Fenchem; Beijing Gingko Group (BGG); EID Parry (India) Ltd.; JX Nippon Oil and Energy Corporation; Heliae Development, LLC; BlueOcean NutraSciences, Inc.; Cyanotech Corporation; Alga Technologies; Fuji Chemicals Industry Co., Ltd.; and MicroA AS
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Table of Contents Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope and Assumptions 1.3 List of Abbreviations Chapter 2 Executive Summary 2.1 Market Summary Chapter 3 Market Variables, Trends & Scope 3.1 Market Segmentation Chapter 4 Market Definitions Chapter 5 Industry Outlook 5.1 Market Driver Analysis 5.1.1 Increasing demand for nutraceuticals and natural antioxidants 5.1.2 Introduction of advanced technologies 5.1.3 Increase in adoption of natural cosmetics, nutraceuticals, and pharmaceuticals 5.1.4 Increased use in aquaculture and coloring of fish 5.2 Market Restraint Analysis 5.2.1 High cost of production 5.2.2 Excess space requirement 5.3 Key Opportunities Prioritized 5.3.1 Key opportunities prioritized Chapter 6 Business Environment Analysis 6.1 SWOT Analysis; By factor (Political & Legal, economic, and technological) 6.2 Porter’s Five Forces Analysis 6.3 Regulatory Framework 6.3.1 North America 6.3.2 Europe 6.3.3 Asia Pacific 6.3.4 Latin America 6.3.5 Middle East and Africa Chapter 7 Competitive Analysis 7.1 Vendor Landscape 7.1.1 List of key distributors and channel partners 7.1.2 Key company market share analysis, 2019 7.2 Public Companies 7.2.1 Company market position analysis 7.2.2 Competitive dashboard analysis 7.3 Private Companies 7.3.1 List of key emerging companies /technology disruptors/innovators 7.3.2 Regional network map Chapter 8 Astaxanthin Market: Source Estimates & Trend Analysis 8.1 Astaxanthin Market: Source Movement Analysis 8.2 Natural 8.2.1 Natural market, 2016 - 2027 (USD Million) 8.2.1.1 Yeast 8.2.1.1.2 Yeast market, 2016 - 2027 (USD Million) 8.2.1.2 Krill/Shrimp 8.2.1.2.1 Krill/Shrimp market, 2016 - 2027 (USD Million) 8.2.1.3 Microalgae 8.2.1.3.1 Microalgae market, 2016 - 2027 (USD Million) 8.2.1.4 Others 8.2.1.4.1 Others market, 2016 - 2027 (USD Million) 8.2.2 Synthetic 8.2.2.1.1 Synthetic market, 2016 - 2027 (USD Million) Chapter 9 Astaxanthin Market: Product Estimates & Trend Analysis 9.1 Astaxanthin market: Product movement analysis 9.1.1 Dried Algae Meal or Biomass 9.1.1.1 Dried algae meal or biomass market, 2016 - 2027 (USD Million) 9.1.2 Oil 9.1.2.1 Oil market, 2016 - 2027 (USD Million) 9.1.3 Softgel 9.1.3.1 Softgel market, 2016 - 2027 (USD Million) 9.1.4 Liquid 9.1.4.1 Liquid market, 2016 - 2027 (USD Million) 9.1.5 Others 9.1.5.1 Others Market, 2016 - 2027 (USD Million) Chapter 10 Astaxanthin Market: Application Estimates & Trend Analysis 10.1 Astaxanthin market: Application movement analysis 10.1.1 Nutraceuticals 10.1.1.1 Nutraceuticals market, 2016 - 2027 (USD Million) 10.1.2 Cosmetics 10.1.2.1 Cosmetics market, 2016 - 2027 (USD Million) 10.1.3 Aquaculture and animal feed 10.1.3.1 Aquaculture and animal feed market, 2016 - 2027 (USD Million) 10.1.4 Others 10.1.4.1 Others market, 2016 - 2027 (USD Million) Chapter 11 Astaxanthin Market: Regional Estimates & Trend Analysis, by Source, Product, Application 11.1 Astaxanthin market: Regional movement analysis 11.2 North America 11.2.1 North America market estimates and forecast, 2016 - 2027 (USD Million) 11.2.2 U.S. 11.2.2.1 U.S. astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.2.3 Canada 11.2.3.1 Canada market estimates and forecast, 2016 - 2027 (USD Million) 11.3 Europe 11.3.1 Europe astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.3.2 Germany 11.3.2.1 Germany astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.3.3 U.K. 11.3.3.1 U.K. astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.3.4 France 11.3.4.1 France astaxanthin market estimates and forecast, 2016 - 2027 11.3.5 Spain 11.3.5.1 Spain astaxanthin market estimates and forecast, 2016 - 2027 11.3.6 Italy 11.3.6.1 Italy astaxanthin market estimates and forecast, 2016 - 2027 11.3.7 Russia 11.3.7.1 Russia astaxanthin market estimates and forecast, 2016 - 2027 11.4 Asia Pacific 11.4.1 Asia Pacific astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.4.2 Japan 11.4.2.1 Japan astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.4.3 China. 11.4.3.1 China astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.4.4 India 11.4.4.1 India astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.4.5 South Korea 11.4.5.1 South Korea astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.4.6 Australia 11.4.6.1 Australia astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.4.7 Singapore 11.4.7.1 Singapore astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.5 Latin America 11.5.1 Latin America astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.5.2 Brazil 11.5.2.1 Brazil astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.5.3 Mexico 11.5.3.1 Mexico astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.5.4 Argentina 11.5.4.1 Argentina astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.6 Middle East & Africa 11.6.1 Middle-East And Africa astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.6.2 South Africa 11.6.2.1 South Africa astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.6.3 Israel 11.6.3.1 Israel astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.6.4 Saudi Arabia 11.6.4.1 Saudi Arabia astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) 11.6.5 UAE 11.6.5.1 UAE astaxanthin market estimates and forecast, 2016 - 2027 (USD Million) Chapter 12 COMPANY PROFILE 12.1 Strategy Framework 12.2 Market Participation Categorization 12.3 Company Profiles 12.3.1 Algatech LTD (Solabia Group) 12.3.1.1 Company overview 12.3.1.2 Product benchmarking 12.3.1.3 Strategic initiatives 12.3.2 Cyanotech Corporation 12.3.2.1 Company overview 12.3.2.2 Financial performance 12.3.2.3 Product benchmarking 12.3.2.4 Strategic initiatives 12.3.3 Fuji Chemical Industries Co., Ltd. 12.3.3.1 Company overview 12.3.3.2 Product benchmarking 12.3.3.3 Strategic initiatives 12.3.4 BlueOcean NutraSciences (Pure Polar Labs, Inc.) 12.3.4.1 Company overview 12.3.4.2 Product benchmarking 12.3.4.3 Strategic initiatives 12.3.5 FENCHEM 12.3.5.1 Company overview 12.3.5.2 Product benchmarking 12.3.6 MicroA 12.3.6.1 Company overview 12.3.6.2 Product benchmarking 12.3.6.3 Strategic initiatives 12.3.7 E.I.D. - Parry (India) Limited 12.3.7.1 Company overview 12.3.7.2 Financial performance 12.3.7.3 Product benchmarking 12.3.7.4 Strategic initiatives 12.3.8 Beijing Gingko Group (BGG) 12.3.8.1 Company overview 12.3.8.2 Product benchmarking 12.3.8.3 Strategic initiatives 12.3.9 JXTG Nippon Oil & Energy Corporation 12.3.9.1 Company overview 12.3.9.2 Financial performance 12.3.9.3 Product benchmarking 12.3.9.4 Strategic initiatives

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