Acknowledging the kind of traction gained by this market, recently published a study report by industry data analytics asserts the global size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 8.5% during the review period (2022 to 2027)
The astaxanthin market is estimated to be appreciated at USD 647.1 million in 2021. It is probable to reach USD 965.8 million by 2026, recording a CAGR of 8.5% during the estimate period. Astaxanthin is a carotenoid found in marine organisms, such as microalgae, shellfish, salmon, and trout. The helps of astaxanthin for humans can be accredited to its antioxidant and anti-inflammatory properties. Astaxanthin is manufactured from both natural and synthetic sources. Natural sources, which have no side belongings, are the safest to consume.Usual astaxanthin is mainly used for human ingesting. The feed segment subject the market for astaxanthin, while its use for human consumption is at a nascent stage with high scope of development.
Based on the Astaxanthin market development status, competitive landscape and development model in different regions of the world, this report is dedicated to providing niche markets, potential risks, and comprehensive competitive strategy analysis in different fields of Materials & Chemicals. From the competitive advantages of different types of products and services, the development opportunities and consumption characteristics, and structure analysis of the downstream application fields are all analyzed in detail. To Boost Growth of Astaxanthin during the epidemic era, this report analyzes in detail the potential risks and opportunities which can be focused on.
Top Key Players in the Astaxanthin Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The companies referred in the market research report 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) and others.
April 20, 2022: BGG World Announces the Second Doubling of its Astaxanthin Farm’s Capacity in the Last Two Years
Algae Health Sciences (AHS) announce the second major expansion of their state-of-the-art, 100% glass tube photobioreactor microalgae farm in the last two years. This expansion will double the current capacity of BGG’s flagship AstaZine® Natural Astaxanthin line
October 01, 2020: Cyanotech Corporation Launches BioAstin Water Dispersible Astaxanthin Powder Grown and Processed in Kona
Cyanotech Corporation, a world leader in microalgae-based, high-value nutrition and health products, announces its launch of BioAstin Hawaiian Astaxanthin® in a new delivery form, water dispersible powder, available in both 1% and 2% concentrations.
By Type, Astaxanthin Market has been segmented into
By Application, Astaxanthin Market has been segmented into
North America held a market share of over 36.5% in 2020 and is estimated to maintain its control over the forecast period. This dominance can be attributed to the existence of a started nutraceutical industry, increasing awareness about the use of astaxanthin, and the presence of a health-conscious population. In 2019, the Asia-Pacific region ruled the global market by producing the largest Market Share of 32.64%.
Report Attributes | Report Details |
Forecast Period 2022 to 2028 CAGR | CAGR of 8.5% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | Bericap ,Closure Systems International ,Berry Global ,Aptar Group ,Silgan ,ALPLA ,THC |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 124 |
Customization Available | Yes, the report can be customized as per your needs |
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
What is the astaxanthin market growth?
The global astaxanthin market is expected to observer a compound annual growth rate of 8.5% from 2020 to 2027
What makes Asia Pacific a profitable hub for astaxanthin market?
Asia Pacific market for astaxanthin will witness a CAGR of over 4.5% through 2027 owing to inspiring product request for animal feed application in the region.
What is the breakup of the global astaxanthin market based on the source?
Based on the source, the global astaxanthin market can be segmented into natural and artificial. Presently, normal sources hold a majority of the total market share.
What are the key regions in the global astaxanthin market?
North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Who are the key Companies in the global astaxanthin market?
Algatech LTD (Société La Biochimie Appliquée SA), BASF SE, Beijing Gingko Group, Cardax Inc, Cyanotech Corporation, Divi's Laboratories Limited, E.I.D. - Parry (India) Limited (Murugappa Group), Fenchem Biotek Ltd, Fuji Chemical Industries Co. Ltd., Koninklijke DSM N.V., and Piveg Inc.
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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