Astaxanthin Market - Forecast(2024 - 2030)

Report Code: FBR 0147 Report Format: PDF + Excel
Astaxanthin is a product high value in the carotenoid market. Natural astaxanthin is not currently able to compete with market price synthetic astaxanthin, despite of improvement in techniques of production. Increasing the production capacity of the natural product obtained from Phaffia rhodizyma or Haematococcus Pluvialis is competitive in relations of market price. Astaxathin is used for producing antiageing cream, and increasing population is upsurged the demand for anti-ageing cream and also increased antioxidant product for aesthetic appeal.

Nutraceutical is expected to attain fastest growth over the forecast period of all other application for this market. Due to consumer health benefits and nutrition requirements, demand in nutraceutical is expected to be increasing. It can be defined as a potential anti-oxidant as compared to lutein, lycopene and beta carotene. Astaxanthin market also adopted some advance technology for production natural astaxanthin such as microalgae cultivation, harvesting, extraction and drying which expected to accelerate the market growth. Its effect for neutralizing free radical has proven to be beneficial in many applications. It offers several health benefits such as cardiovascular disease, immune system boost, nervous system improvement and cataract prevention. The global Astaxanthin market is expected to grow at a CAGR of 8 during forecast period i.e. 2018 to 2023.

What is Astaxanthin?

Astaxanthin which is found in various sea-foods is a naturally occurring red-pink carotenoid pigment. It is also referred to as the ‘king’ of the carotenoids. Astaxanthin is kind of metabolites of canthaxanthin, which is comprised of hydroxyl and ketone functional groups. Astaxanthin has been considered as the powerful antioxidants that can be found in nature.  It has some chemical differences but has structural similarity to beta-carotene (pro-vitamin A) which may be safer.  Astaxanthin is used as a pigment for trout, salmons, and shrimps in aquaculture industry. Astaxathin is also comprised of oxidizing agent; natural astaxathin oxidized faster than any other synthetic pigment.

Astaxanthin never turns into a pro-oxidant in the body hence unlike some other types of antioxidants it never causes harmful oxidation. The pigment astaxanthin can also be found in the feathers of flamingos and quails in certain marine plants and animals and there are some techniques for artificial synthesis.

What are the major applications for Astaxanthin?

Astaxanthin is primarily consumed in human diet and consequently is utilized as animal feed and also as a pigmentation source for salmon, shrimp and trout, and is also used in poultry applications. Its consumption is known to improve many blood parameters that could be beneficial to heart disease. It can decrease the oxidation of LDL cholesterol and prevent it from becoming artherogenic (artery clogging) by the consumption of about doses of 6-8mg daily. It can help to increase general blood flow and reduce blood sugar in diabetics and blood pressure in patients. Astaxanthin is a powerful anti-inflammatory substance and have plenty of anti-oxidant capabilities than vitamin A itself. It is also in demand in market for its water soluble form. For these properties of Axtaxanthin expected to expand the market size during the forecast period.

It has been used in nutraceuticals manufacturing which are being preferred by consumers due to ease of consumption. It is also available as oil, gels, tablets etc. and the trend of increasing preference for organic cosmetics has led its infusion into cosmetic products too and this expected to contribute to the market share for Astaxanthin market during the forecast period.

Market Research and Market Trends of Astaxanthin Ecosystem

  • BGG is a leader in Astaxanthin production and technology worldwide. AlgaeHealth is subordinate which utilizes BGG’s facilities and scientists as well as its worldwide Sales Team. It supports second largest capacity in the world for the production of Natural Astaxanthin from microalgae. BGG has aimed to impart the absolute highest quality algae-based ingredients at an appreciative price. It features products which are unmatched in terms of purity, potency and overall quality. Their product range of BGG is consisted of the world’s first Certified Organic Haematococcus pluvialis microalgae powder. The company has been predicted to be the world’s largest producer of Natural Astaxanthin by the year 2020. Nutraceutical ingredients from algae are promptly evolving into an important segment of the supplement industry.
  • Products with improved bioavailability and potency will be the need of the future. Sphera which has been founded by 3 scientists focuses on the incorporation of astaxanthin pigments and other microalgae ingredients into new food and beverage categories. They try to add significant value to the existing food market. Sphera recently partnered with Algatechnologiesw to produce new functional ingredient formats using Sphera’s proprietary encapsulation technology to aid in the development of innovative delivery formats of microalgae-derived ingredients. 
  • Red yeast, Xanthophyllomyces dendrorhous can be defined as the only yeast which is primarily helps in the production of astaxanthin. Multiple gene expression system in X. dendrorhous has been developed by researchers recently which improved the mevalonate synthetic pathway which resulted in significant upsurge in astaxanthin production. This method is estimated to have the prospective for improving industrial production of various isoprenoids in X. dendrorhous. Various other efforts are concomitantly being made throughout the globe to enhance the production process of natural as well as synthetic astaxanthin. 

Who are the Major Players in Astaxanthin market?

The players profiled in the report include Cape Carotene, NVI Algae Products, AstaReal, Cyanotech Corporation, KeyNatura, Beijing Gingko Group, Algae Health, ALGAEN CORPORATION, AHD International, VIDYA EUROPE SAS, TOYOND INDUSTRY LIMITED

What is our report scope?

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.

All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

Key Takeaways from this Report

  • Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
  • Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
  • Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
  • Analyze the sales and distribution channels across key geographies to improve top-line revenues.
  • Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes. 
  • Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
  • Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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1. Astaxanthin Market - Overview
1.1. Definitions and Scope
2. Astaxanthin Market - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Astaxanthin Market 
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis 
4. Astaxanthin Market – Startup companies Scenario Premium
4.1. Top 10 startup company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario
5. Astaxanthin Market – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing business index
5.3. Case studies of successful ventures
5.4. Customer Analysis – Top 10 companies
6. Astaxanthin Market Forces
6.1. Drivers
6.2. Constraints
6.3. Challenges
6.4. Porters five force model
6.4.1. Bargaining power of suppliers
6.4.2. Bargaining powers of customers
6.4.3. Threat of new entrants
6.4.4. Rivalry among existing players
6.4.5. Threat of substitutes 
7. Astaxanthin Market -Strategic analysis
7.1. Value chain analysis
7.2. Opportunities analysis
7.3. Product life cycle
7.4. Suppliers and distributors Market Share
8. Astaxanthin Market – By Source (Market Size -$Million / $Billion)
8.1. Market Size and Market Share Analysis 
8.2. Application Revenue and Trend Research
8.3. Product Segment Analysis
8.3.1. Natural production Algae and Microalgae Sea Urchin gonads Red-pink seafood and crustaceans Yeast Krill/ shrimp
8.3.2. Synthetic production (Bacteria)
9. Astaxanthin Market – By Production Mechanism (Market Size -$Million / $Billion)
9.1. Introduction
9.2. Microalgae Cultivation
9.3. Fermentation
9.4. Extraction
9.5. Chemical Synthesis
10. Astaxanthin Market – By Product Type (Market Size -$Million / $Billion)
10.1. Introduction
10.2. Dried algae meal/biomass
10.3. Astaxanthin Oil
10.4. Soft-gel
10.5. Astaxanthin Tablets
10.6. Astaxanthin Powder
10.7. Carotenoid Complexes
10.8. Synthetic Astaxanthin
10.10. Liquid
10.11. Others
11. Astaxanthin Market – By Application (Market Size -$Million / $Billion)
11.1. Dietary supplement
11.2. Cosmetics
11.3. Animal feed and aquaculture
11.4. Others
12. Astaxanthin - By Geography (Market Size -$Million / $Billion)
12.1. Astaxanthin Market - North America Segment Research
12.2. North America Market Research (Million / $Billion)
12.2.1. Segment type Size and Market Size Analysis 
12.2.2. Revenue and Trends
12.2.3. Application Revenue and Trends by type of Application
12.2.4. Company Revenue and Product Analysis
12.2.5. North America Product type and Application Market Size U.S. Canada Mexico Rest of North America
12.3. Astaxanthin - South America Segment Research
12.4. South America Market Research (Market Size -$Million / $Billion)
12.4.1. Segment type Size and Market Size Analysis 
12.4.2. Revenue and Trends
12.4.3. Application Revenue and Trends by type of Application
12.4.4. Company Revenue and Product Analysis
12.4.5. South America Product type and Application Market Size Brazil Venezuela Argentina Ecuador Peru Colombia Costa Rica Rest of South America
12.5. Astaxanthin - Europe Segment Research
12.6. Europe Market Research (Market Size -$Million / $Billion)
12.6.1. Segment type Size and Market Size Analysis 
12.6.2. Revenue and Trends
12.6.3. Application Revenue and Trends by type of Application
12.6.4. Company Revenue and Product Analysis
12.6.5. Europe Segment Product type and Application Market Size U.K Germany Italy France Netherlands Belgium Spain Denmark Rest of Europe
12.7. Astaxanthin – APAC Segment Research
12.8. APAC Market Research (Market Size -$Million / $Billion)
12.8.1. Segment type Size and Market Size Analysis 
12.8.2. Revenue and Trends
12.8.3. Application Revenue and Trends by type of Application
12.8.4. Company Revenue and Product Analysis
12.8.5. APAC Segment – Product type and Application Market Size China Australia Japan South Korea India Taiwan Malaysia
13. Astaxanthin Market - Entropy
13.1. New product launches
13.2. M&A's, collaborations, JVs and partnerships
14. Astaxanthin Market – Industry / Segment Competition landscape Premium
14.1. Market Share Analysis
14.1.1. Market Share by Country- Top companies
14.1.2. Market Share by Region- Top 10 companies
14.1.3. Market Share by type of Application – Top 10 companies
14.1.4. Market Share by type of Product / Product category- Top 10 companies
14.1.5. Market Share at global level- Top 10 companies
14.1.6. Best Practises for companies
15. Astaxanthin Market – Key Company List by Country Premium
16. Astaxanthin Market Company Analysis
16.1. Market Share, Company Revenue, Products, M&A, Developments
16.2. Cape Carotene
16.3. NVI Algae Products
16.4. AstaReal
16.5. Cyanotech Corporation
16.6. KeyNatura
16.7. Beijing Gingko Group
16.8. Algae Health
16.10. AHD International
16.12. Company 11
16.13. Company 12
16.11. Company 13 and more
"*Financials would be provided on a best efforts basis for private companies"
17. Astaxanthin Market - Appendix
17.1. Abbreviations
17.2. Sources
18. Astaxanthin Market - Methodology
18.1. Research Methodology
18.1.1. Company Expert Interviews
18.1.2. Industry Databases
18.1.3. Associations
18.1.4. Company News
18.1.5. Company Annual Reports
18.1.6. Application Trends
18.1.7. New Products and Product database
18.1.8. Company Transcripts
18.1.9. R&D Trends
18.1.10. Key Opinion Leaders Interviews
18.1.11. Supply and Demand Trends