Global Astaxanthin Market Size, Share & Trends Analysis Report, by Type (Powder, Capsules and Softgel, Tablets, Liquid and Oil, and Others), By Applications (Nutraceuticals, Cosmetics, Aquaculture & Animal Feed, and Others), and Forecast Period 2019-2025.
The global astaxanthin market is estimated to grow at a significant CAGR during the forecast period. Growing demand for dietary supplement in order to manage chronic diseases such as rheumatoid arthritis (RA), cancer, cardiovascular diseases, and diabetes are the factors to propel the global astaxanthin market growth. Besides, awareness campaigns about the benefits of astaxanthin conducted by some NGOs are also driving the astaxanthin market. For instance, Natural Algae Astaxanthin Association (NAXA) conducts many awareness campaigns and share studies to promote awareness about the health benefits of astaxanthin among the public, In March 2020, NAXA shared a study about immune system modulation using Algal astaxanthin.
The global astaxanthin market is segmented based on type and application. Based on the type, the market is segmented into powder, capsules and soft gel, tablets, liquid and oil, and others. Based on Application, the market is segmented into nutraceuticals, cosmetics, aquaculture and animal feed, and others. Based on geography, the market is classified into four major regions, including North America, Europe, Asia-Pacific, and RoW. North America have witnessed significant share in the astaxanthin market owing to the stable economy, a large pool of patients, growing awareness, and the presence of major players.
The major players providing astaxanthin include Algatech, Ltd. (Solabia Group), BASF SE, Cyanotech Corp., BlueOcea NutraSciences (Pure Polar Labs, Inc.), Fuji Chemical Industries Co., Ltd., JXTG Nippon Oil and Energy Corp., MicroA AS, Beijing Gingko Group (BGG), and others. The strategies adopted by the market players include joint venture and product launches, to increase their competitiveness across a global scale. For instance, in November 2017, AlgaeHealth launched AstaZine, it is the first organic haematococcus algae in the world. It is used by main patients with high blood pressure, AstaZine can reduce the heart rate by 10%. Further, in September 2017, Algatech launched organic AstaPure astaxanthin. It is 500 times stronger than vitamin E, 7 times stronger than lycopene, and 10 times stronger than beta-carotene. Mainly it is used to improve eye health and as feed.
Research Methodology
The market study of the global astaxanthin market is incorporated by extensive primary and secondary research conducted by a research team. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of the reports.
Secondary Sources Include:
Market Segmentation:
The Report Covers:
The global astaxanthin market is estimated to grow at a significant CAGR during the forecast period. Growing demand for dietary supplement in order to manage chronic diseases such as rheumatoid arthritis (RA), cancer, cardiovascular diseases, and diabetes are the factors to propel the global astaxanthin market growth. Besides, awareness campaigns about the benefits of astaxanthin conducted by some NGOs are also driving the astaxanthin market. For instance, Natural Algae Astaxanthin Association (NAXA) conducts many awareness campaigns and share studies to promote awareness about the health benefits of astaxanthin among the public, In March 2020, NAXA shared a study about immune system modulation using Algal astaxanthin.
The global astaxanthin market is segmented based on type and application. Based on the type, the market is segmented into powder, capsules and soft gel, tablets, liquid and oil, and others. Based on Application, the market is segmented into nutraceuticals, cosmetics, aquaculture and animal feed, and others. Based on geography, the market is classified into four major regions, including North America, Europe, Asia-Pacific, and RoW. North America have witnessed significant share in the astaxanthin market owing to the stable economy, a large pool of patients, growing awareness, and the presence of major players.
The major players providing astaxanthin include Algatech, Ltd. (Solabia Group), BASF SE, Cyanotech Corp., BlueOcea NutraSciences (Pure Polar Labs, Inc.), Fuji Chemical Industries Co., Ltd., JXTG Nippon Oil and Energy Corp., MicroA AS, Beijing Gingko Group (BGG), and others. The strategies adopted by the market players include joint venture and product launches, to increase their competitiveness across a global scale. For instance, in November 2017, AlgaeHealth launched AstaZine, it is the first organic haematococcus algae in the world. It is used by main patients with high blood pressure, AstaZine can reduce the heart rate by 10%. Further, in September 2017, Algatech launched organic AstaPure astaxanthin. It is 500 times stronger than vitamin E, 7 times stronger than lycopene, and 10 times stronger than beta-carotene. Mainly it is used to improve eye health and as feed.
Research Methodology
The market study of the global astaxanthin market is incorporated by extensive primary and secondary research conducted by a research team. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of the reports.
Secondary Sources Include:
- Reports of companies involved in the market
- Authentic public databases
- Whitepapers such as research papers and news blogs
- Company websites and their product catalog
Market Segmentation:
- Global Astaxanthin Market Research and Analysis by Type
- Global Astaxanthin Market by Research and Analysis Application
The Report Covers:
- Comprehensive research methodology of the global astaxanthin market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Insights about market determinants which are stimulating the global astaxanthin market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- Algatech, Ltd. (Solabia Group)
- Archer Daniels Midland Co.
- AstaReal AB
- BASF SE
- Beijing Gingko Group (BGG)
- Cardax, Inc.
- CO2 Gro, Inc.
- Cyanotech Corp.
- Divi's Laboratories Ltd.
- EID-Parry Ltd.
- Fuji Chemical Industries Co., Ltd.
- Heliae Development, LLC
- IGENE Biotechnology, Inc
- JXTG Nippon Oil and Energy Corp.
- Koninklijke DSM N.V
- MicroA AS
- Otsuka Pharmaceutical Co., Ltd.
- Parry Nutraceuticals, Piveg, Inc.
