The global astaxanthin market is projected to reflect an impressive growth with a CAGR of 13.8 % over the projected period from 2020-2030. According to a new FMI report has stated that this upsurge was mainly due to growing awareness concerning potential antioxidant attributes and efficiency in eradicating chronic conditions.
The North American astaxanthin market is expected tower over the global landscape. It is anticipated to reach US$ 624.1 Mn by 2030. Extensive campaigns to promote consumption is likely to drive growth in the future. This has motivated several vendors to establish businesses across the U.S and Canadian landscapes.
“Shift towards natural therapeutic alternatives to cure chronic diseases in addition to growing prevalence of sedentary lifestyles promoting habits such as alcohol and smoking consumption are projected to pivot the astaxanthin market expansion in future.,” states the FMI analyst.
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Astaxanthin Market- Important Highlights
- Natural sources are anticipated to witness robust growth at a CAGR of 13.9% during 2020-2030
- 95-97% of grade astaxanthin will account for over 60% of the overall market share.
- Chemically synthesized production technology will hold over four-fifth of the market in value terms.
- The aquaculture sector will expand robustly at a 10.2% CAGR over the assessment period.
- North America will tower over other regions due to widespread campaigns to promote intake throughout 2020-2030.
Astaxanthin Market – Drivers
- Rising consumption of alcohol and smoking is necessitating the intake of astaxanthin-rich antioxidants.
- Increasing awareness of the health benefits of astaxanthin, coupled with the trend toward plant-based propelling market growth.
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Astaxanthin Market – Restraints
- Higher production costs concerning the extraction process impacting market sales.
- Strict guidelines pertaining the product usage in straight human uptake products are another concern negatively influencing the market growth.
COVID-19 Impact on Astaxanthin Market
As the COVID-19 pandemic has gripped all over the world, incessant research & development attempts by the medical fraternity are placing fertile ground for the astaxanthin market to expand in the rest of the pandemic’s period. Despite the presence of adequate data, researchers are rendering their best to integrate this treatment amid sternly infected patients.
Major companies identified in the global astaxanthin market include Divi’s Laboratories Ltd., BASF SE, Cyanotech Corporation, Parry Nutraceuticals, DSM N.V., JXTG Nippon Oil & Energy Corporation, Kunming Biogenic Co., Ltd., Fuji Chemical Industries Co., Ltd., Valensa International Global, Algalif Iceland Ehf., Kailu Ever Brilliance Biotechnology Co. Ltd., Zhejiang NHU Co., Ltd., AstaReal Inc., Atacama Bio Natural Products S.A., Inc., Igene Biotechnology, Inc., Fenchem Biotek Ltd., BGG (Beijing Gingko Group), Algatechnologies Ltd., Cardax, Inc., Algaecan Biotech Ltd., Yunnan Alphy Biotech Co., Ltd, Otsuka Pharmaceutical Co., Ltd., INNOBIO Corporation Limited, KDI Ingredients, and Sinoway Industrial Co., Ltd.
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Table Of Content
Global Astaxanthin Market – Executive Summary
◦ Global Astaxanthin Market Demand-side Trends
◦ Astaxanthin Market- Regional Share Analysis
◦ Global Astaxanthin Market Region and Segment-wise Split
◦ Global Astaxanthin Market Company Wise Application
◦ Global Astaxanthin Market- Opportunity Assessment
◦ FMI Analysis and Recommendations
1. Market Overview
1.1. Market Definition
1.2. Market Taxonomy- Research Scope
1.3. Market Introduction
1.4. Global Astaxanthin Market Size and Absolute $ Opportunity by Natural Vs Synthetic
1.5. Global Astaxanthin Market Size and Absolute $ Opportunity (Natural + Synthetic)
1.6. Global Astaxanthin Market Value and Volume Analysis by Region, 2020
2. Impact of COVID-19 on Astaxanthin Market – Scenario Assessment
2.1. The Impact of COVID-19 on Logistics of Astaxanthin
2.2. A Changing Marketplace Battle Ground for Feed Industry
2.3. The Impact of COVID-19 Recovery Cycle for Astaxanthin
2.4. China Astaxanthin Market (Natural + Synthetic)
2.5. US Astaxanthin Market (Natural + Synthetic)
2.6. Europe Astaxanthin Market (Natural + Synthetic)
2.7. Key Factors Affecting the Astaxanthin Industry
3. Price Point Assessment
3.1. Astaxanthin Pricing Analysis- Key Takeaways
3.2. Astaxanthin Market – Price Point Assessment by Region
3.3. Astaxanthin Market – Price Point Assessment by Source
3.4. Astaxanthin Market – Price Point Assessment by Source V/s Key Countries
3.5. Astaxanthin Market Pricing Y-o-Y Growth and Forecast, by Key Countries
3.6. Astaxanthin Market – Price Point Assessment by Grade
3.7. Astaxanthin Market – Price Point Assessment by Grade V/s Key Countries
3.8. Astaxanthin Pricing Assessment through Retail Window
3.9. Factors Impacting Price
3.9.1. Technological Advancement
3.9.2. Raw Material
3.9.4. Exchange Rates
3.9.5. Trade Restrictions