Haematococcus Market by Product (Astaxanthin Ingredients (Oleoresin, Beadlets), Astaxanthin Bulk Finished Products (Capsules, Tablets)), Application (Food&Beverage, Nutraceuticals, Pharmaceuticals, Cosmetics) and Geography – Global Forecast to 2027
The research report titled “Haematococcus Market by Product (Astaxanthin Ingredients (Oleoresin, Beadlets), Astaxanthin Bulk Finished Products (Capsules, Tablets)), Application (Food&Beverage, Nutraceuticals, Pharmaceuticals, Cosmetics) and Geography – Global Forecast to 2027” provides an in-depth analysis of haematococcus pluvialis market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027. In terms of value, the haematococcus pluvialis market is expected to grow at a CAGR of 13.2% from 2020 to 2027 to reach $148.1 million by 2027.
The growth of this market is mainly attributed to the increasing demand for natural astaxanthin for nutraceuticals, growing demand for natural food colorants, and increasing awareness for clean-label products. Moreover, the growing use of natural astaxanthin in poultry and aquaculture is further expected to create lucrative opportunities for manufacturers in the haematococcus pluvialis market. However, the high production cost is expected to hinder the haematococcus pluvialis market growth to some extent.
The study offers a comprehensive analysis of the haematococcus pluvialis market with respect to product, application, and geography. The haematococcus pluvialis market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The haematococcus pluvialis market is mainly segmented into product (astaxanthin ingredients (astaxanthin oleoresin, beadlets, whole biomass powder, and water dispersible powder) and astaxanthin bulk finished products (capsules/softgels, tablets)), application (food and beverage, nutraceuticals, pharmaceuticals, cosmetics, and animal feeds), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on product, the astaxanthin ingredients segment is expected to account for the largest share of the haematococcus pluvialis market in 2020. The large share of this segment is mainly attributed to the growing end-use applications of the astaxanthin ingredients, rising awareness about preventive healthcare & nutraceuticals, rising demand of natural antioxidants, growing cosmetic & personal care markets, and government initiatives to support the aquaculture industry. Moreover, the haematococcus pluvialis astaxanthin ingredients market is further segmented into astaxanthin oleoresin, beadlets, whole biomass powder, and water dispersible powder. In 2020, the astaxanthin oleoresin segment is expectd to account for the largest share of the overall haematococcus pluvialis astaxanthin ingredients market owing to the growing demand for astaxanthin oleoresin in the food supplements, cosmetics, and nutraceutical industries.
Based on application, in 2020, the food and beverage segment is expected to account for the largest share of the overall haematococcus pluvialis market. This segment's dominant position is mainly attributed to the rising health awareness & food consciousness, growing demand for organic foods, rising use of natural food colors over synthetic, and increasing consumption of antioxidants in food & supplements. However, the nutraceuticals segment is expected to grow at the fastest CAGR during the forecast period owing to the increasing demand for natural astaxanthin derived from haematococcus in the nutraceuticals industry due to its potential effects on various diseases including cancers, hypertension, diabetes, cardiovascular, gastrointestinal, and liver neurodegenerative, and several skin diseases.
Geographically, North America is expected to command the major share of the haematococcus pluvialis market in 2020, followed by Asia-Pacific and Europe. The dominant share of this region is mainly attributed to the increasing demand for natural food supplements and growing awareness about the adverse effects of chemical products among consumers. Also, awareness programs by various organizations are estimated to rise the regional market share. For instance, the Natural Algae Astaxanthin Association (NAXA) is focused on increasing awareness about astaxanthin usage. Further, haematococcus pluvialis algae have been approved for use as a dietary supplement ingredient in the U.S. and Canada is one of the major factors contributing to the growth of haematococcus pluvialis in North America. However, the Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to the increasing health consciousness, the growing nutraceutical and food & beverage industries, huge demand for personal care products, and high investments algae production. Moreover, rising government support for algae production in Asian countries offers significant opportunities for various market stakeholders.
The major players operating in the haematococcus pluvialis market are Cyanotech Corporation (U.S.), E.I.D. – Parry (India) Limited (India), BlueBioTech GmbH (Germany), Algatechnologies Ltd. (Israel), Tianjin Norland Biotech Co., Ltd. (China), AlgaeCan Biotech Ltd. (Canada), AstaReal AB (Sweden), Yunnan Alphy Biotech Co., Ltd. (China), Algae Health Sciences - A BGG company (U.S.), Fenchem (China), Piveg, Inc. (U.S.), Algamo s.r.o. (Czech Republic), Atacama Bio Natural Products S.A. (Chile), Algalif Iceland ehf. (Iceland), BDI-BioLife Science GmbH (Austria), AstaMAZ NZ Ltd. (New Zealand), FjordAlg AS (Norway), Sea & Sun Organic GmbH (Germany), MC Biotech Sdn Bhd (Brunei), Pond Technologies Inc. (Canada), Algicel, Biotecnologia e Investigação Lda (Portugal), Algae to Omega, LLC (U.S.), and Shaivaa Algaetech LLP (India), among others.
Key questions answered in the report-
Which are the high growth market segments in terms of product, application, and region/countries?
What was the historical market for haematococcus pluvialis across the globe?
What are the market forecasts and estimates for the period 2020-2027?
What are the major drivers, restraints, opportunities, trends, and challenges in the haematococcus pluvialis market?
Who are the major players in the haematococcus pluvialis market?
How is the competitive landscape, and who are the market leaders in the haematococcus pluvialis market?
What are the recent developments in the haematococcus pluvialis market?
What are the different strategies adopted by the major players in the haematococcus pluvialis market?
What are the geographical trends and high growth regions/ countries?
Who are the local emerging players in the haematococcus pluvialis market, and how do they compete with the global players?
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