Industry Trend Analysis
The global Astaxanthin Market was worth USD 0.38 billion in 2014 and is expected to reach approximately USD 1.78 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 18.75% during the forecast period. Increasing demand because of its antioxidant properties and expanding applications in the aquaculture business are key variables attesting development of this market. Besides, an ascent in health-conscious populace and developing interest for food coloring that is natural with lesser unfriendly impacts when contrasted with other chemical products are other vital drivers evaluated to support development. Astaxanthin has been used by the aquaculture business for quite a while. Several fish farmers make use of astaxanthin for coloring trout, salmon, and shellfish in artificial ponds.
Source Outlook and Trend Analysis
Astaxanthin can be fabricated from both chemical and natural sources. Normal sources are evaluated to witness significant development over the gauge time frame. High return of low maintenance cost, carotenoid, and expanding interest for natural sustenance supplements are the key components for positive development of this portion. Microalgae, for example, H. pluvialis, have been broadly made use of by numerous makers inferable from high measure of carotenoid content and less demanding strategies for extraction. Nonetheless, switching inclination toward other natural sources, for example, krill and yeast, is foreseen to contrarily affect development of the microalgae fragment.
Product Outlook and Trend Analysis
Higher interest for astaxanthin brought about higher requirement for dried algae meal or biomass. Dried green growth is expected to command the market mostly because of its high usage as animal feed, lesser requirement for downstream preparing, and minimal effort of generation. The portion held an income offer of 25.9 percent of the general market in 2016. Then again, the soft gels section is anticipated to record the speediest development rate. The section is foreseen to witness significant development over the figure period. Liquid and water-miscible formulations are likewise assessed to witness high demand in skin care and cosmetic industry because of their high antioxidant content.
Application Outlook and Trend Analysis
Astaxanthin is majorly useful in aquaculture and as animal feed. For several years, carotenoid has been useful for coloring fishes and enhancing the texture of animals by raising their reddish pigment. Nutraceutical section is anticipated to encounter tremendous development over the forecast period. Astaxanthin, due to its high antioxidant aspects in comparison to other food supplements and convenient availability, discovers wide application in the nutraceutical industry.
Regional Outlook and Trend Analysis
North America held a significant share of the overall industry of 46.5 percent in 2016. Key variables for the strength of this locale are presence of a built up nutraceutical industry, existence of health-conscious population, and developing awareness about the usage of astaxanthin. Asia Pacific is assessed to encounter considerable development over the conjecture time frame. Existence of key producers, for example, BGG and InnoBio in China, with mechanically progressed working offices, is an imperative factor for the lucrative development capability of this locale.
Competitive Insights
The leading Fuji Chemical Industries Co Ltd, Beijing Gingko Group North America, JXTG Nippon Oil & Energy, BlueOcean NutraSciences, Algatechnologies, Heliae Development LLC, Igene Biotechnology Inc, Cyanotech Corporation, EID Parry and Fenchem. The major players are profoundly focused on new product development, mergers and acquisitions, and extension to untargeted topographies to upgrade their market position.
The Astaxanthin Market is segmented as follows-
By source:
Synthetic
Natural
Krill/Shrimp
Yeast
Microalgae
By Product:
Softgel
Dried algae meal or Biomass
Liquid
Oil
Others
By Application:
Aquaculture and animal feed
Nutraceuticals
Cosmetics
Others
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Increasing Adoption of Natural Cosmetics
3.2.1.2. Increasing Use in Aquaculture and Coloring of Fishes
3.2.2. Restraints
3.2.2.1. Excess Space Requirement
3.2.2.2. High Cost of Production
3.2.3. Opportunities
3.2.3.1. Emerging Countries to Offer Lucrative Growth Opportunities
4. Astaxanthin Market, By Source
4.1. Introduction
4.2. Astaxanthin Market Assessment and Forecast, By Source, 2014-2023
4.3. Natural
4.3.1. Market Assessment and Forecast, By Type, 2014-2023($Billion)
4.3.2. Market Assessment and Forecast, By Region, 2014-2023($Billion)
4.3.3. Yeast
4.3.3.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
4.3.4. Krill/Shrimp
4.3.4.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
4.3.5. Microalgae
4.3.5.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
4.3.6. Others
4.3.6.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
4.4. Synthetic
4.4.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5. Astaxanthin Market, By Product
5.1. Introduction
5.2. Astaxanthin Market Assessment and Forecast, By Product, 2014-2023
5.3. Dried algae meal or Biomass
5.3.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
5.4. Oil
5.4.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5.5. Softgel
5.5.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5.6. Liquid
5.6.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5.7. Other Products
5.7.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
6. Astaxanthin Market, By Application
6.1. Introduction
6.2. Astaxanthin Market Assessment and Forecast, By Application, 2014-2023($Billion)
6.3. Nutraceuticals
6.3.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
6.4. Cosmetics
6.4.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
6.5. Aquaculture and Animal Feed
6.5.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
6.6. Other Applications
6.6.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
7. Astaxanthin Market, By Region
7.1. Introduction
7.2. Astaxanthin Market Assessment and Forecast, By Region, 2014-2023($Billion)
7.3. North America
7.3.1. Market Assessment and Forecast, By Country, 2014-2023($Billion)
7.3.2. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.3.3. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.3.4. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.3.5. U.S.
7.3.5.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.3.5.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.3.5.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.3.6. Canada
7.3.6.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.3.6.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.3.6.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.3.7. Mexico
7.3.7.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.3.7.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.3.7.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4. Europe
7.4.1. Market Assessment and Forecast, By Country, 2014-2023($Billion)
7.4.2. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.4.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4.4. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4.5. Germany
7.4.5.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.4.5.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.4.5.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4.6. France
7.4.6.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.4.6.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.4.6.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4.7. UK
7.4.7.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.4.7.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.4.7.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4.8. Italy
7.4.8.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.4.8.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.4.8.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4.9. Spain
7.4.9.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.4.9.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.4.9.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
7.4.10. Rest of Europe
7.4.10.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
7.4.10.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
7.4.10.3. Market Assessment and Forecast, By Application, 2014-2023($Billion)
8. Asia-Pacific
8.1.1. Market Assessment and Forecast, By Country, 2014-2023($Billion)
8.1.2. Market Assessment and Forecast, By Source, 2014-2023($Billion)
8.1.3. Market Assessment and Forecast, By Product, 2014-2023($Billion)
8.1.4. Market Assessment and Forecast, By Application,2014-2023($Billion)
8.1.5. Japan
8.1.5.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
8.1.5.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
8.1.5.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
8.1.6. China
8.1.6.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
8.1.6.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
8.1.6.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
8.1.7. Australia
8.1.7.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
8.1.7.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
8.1.7.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
8.1.8. India
8.1.8.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
8.1.8.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
8.1.8.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
8.1.9. South Korea
8.1.9.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
8.1.9.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
8.1.9.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
8.1.10. Rest of Asia-Pacific
8.1.10.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
8.1.10.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
8.1.10.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
9. Rest of the World
9.1.1. Market Assessment and Forecast, By Country, 2014-2023($Billion)
9.1.2. Market Assessment and Forecast, By Source, 2014-2023($Billion)
9.1.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
9.1.4. Market Assessment and Forecast, By Application,2014-2023($Billion)
9.1.5. Brazil
9.1.5.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
9.1.5.2. Market Assessment and Forecast, By Product , 2014-2023($Billion)
9.1.5.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
9.1.6. Turkey
9.1.6.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
9.1.6.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
9.1.6.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
9.1.7. Saudi Arabia
9.1.7.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
9.1.7.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
9.1.7.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
9.1.8. South Africa
9.1.8.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
9.1.8.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
9.1.8.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
9.1.9. United Arab Emirates
9.1.9.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
9.1.9.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
9.1.9.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
9.1.10. Others
9.1.10.1. Market Assessment and Forecast, By Source, 2014-2023($Billion)
9.1.10.2. Market Assessment and Forecast, By Product, 2014-2023($Billion)
9.1.10.3. Market Assessment and Forecast, By Application,2014-2023($Billion)
10. Company Profiles
10.1. Alga Technologies
10.1.1. Business Overview
10.1.2. Product Portfolio
10.1.3. Key Financials
10.1.4. Strategic Developments
10.2. Cyanotech Corporation
10.2.1. Business Overview
10.2.2. Product Portfolio
10.2.3. Key Financials
10.2.4. Strategic Developments
10.3. Fuji chemicals
10.3.1. Business Overview
10.3.2. Product Portfolio
10.3.3. Key Financials
10.3.4. Strategic Developments
10.4. BlueOcean NutraSciences Inc.
10.4.1. Business Overview
10.4.2. Product Portfolio
10.4.3. Strategic Developments
10.5. Fenchem
10.5.1. Business Overview
10.5.2. Product Portfolio
10.5.3. Strategic Developments
10.6. MicroA
10.6.1. Business Overview
10.6.2. Product Portfolio
10.6.3. Strategic Developments
10.7. EID Parry
10.7.1. Business Overview
10.7.2. Product Portfolio
10.7.3. Strategic Developments
10.8. BGG (Beijing Gingko Group)
10.8.1. Business Overview
10.8.2. Product Portfolio
10.8.3. Strategic Developments
10.9. Heliae
10.9.1. Business Overview
10.9.2. Product Portfolio
10.9.3. Strategic Developments
10.10.Igene Biotechnology
10.10.1. Business Overview
10.10.2. Product Portfolio
10.10.3. Strategic Developments
Table: Global Astaxanthin Market, By Source, 2014-2023($Million)
Table: Natural Market, By Type, 2014-2023($Million)
Table: Natural Market, By Region, 2014-2023($Million)
Table: Yeast Market, By Region, 2014-2023($Million)
Table: Krill/Shrimp Market, By Region, 2014-2023($Million)
Table: Microalgae Market, By Region, 2014-2023($Million)
Table: Others Market, By Region, 2014-2023($Million)
Table: Synthetic Market, By Region, 2014-2023($Million)
Table: Global Astaxanthin Market, By Product, 2014-2023($Million)
Table: Dried algae meal or Biomass Market, By Source, 2014-2023($Million)
Table: Oil Market, By Region, 2014-2023($Million)
Table: Softgel Market, By Region, 2014-2023($Million)
Table: Liquid Market, By Region, 2014-2023($Million)
Table: Other Products Market, By Source, 2014-2023($Million)
Table: Global Astaxanthin Market, By Application, 2014-2023($Million)
Table: Nutraceuticals Market, By Region, 2014-2023($Million)
Table: Cosmetics Market, By Region, 2014-2023($Million)
Table: Aquaculture and animal feed Market, By Region, 2014-2023($Million)
Table: Other Applications Market, By Region, 2014-2023($Million)
Table: North America Astaxanthin Market, By Country, 2014-2023($Million)
Table: North America Astaxanthin Market, By Source, 2014-2023($Million)
Table: North America Astaxanthin Market, By Product, 2014-2023($Million)
Table: North America Astaxanthin Market, By Application, 2014-2023($Million)
Table: U.S. Astaxanthin Market, By Source, 2014-2023($Million)
Table: U.S. Astaxanthin Market, By Product, 2014-2023($Million)
Table: U.S. Astaxanthin Market, By Application, 2014-2023($Million)
Table: Canada Astaxanthin Market, By Source, 2014-2023($Million)
Table: Canada Astaxanthin Market, By Product, 2014-2023($Million)
Table: Canada Astaxanthin Market, By Application, 2014-2023($Million)
Table: Mexico Astaxanthin Market, By Source, 2014-2023($Million)
Table: Mexico Astaxanthin Market, By Product, 2014-2023($Million)
Table: Mexico Astaxanthin Market, By Application, 2014-2023($Million)
Table: Europe Astaxanthin Market, By Country, 2014-2023($Million)
Table: Europe Astaxanthin Market, By Source, 2014-2023($Million)
Table: Europe Astaxanthin Market, By Product, 2014-2023($Million)
Table: Europe Astaxanthin Market, By Application, 2014-2023($Million)
Table: Germany Astaxanthin Market, By Source, 2014-2023($Million)
Table: Germany Astaxanthin Market, By Product, 2014-2023($Million)
Table: Germany Astaxanthin Market, By Application, 2014-2023($Million)
Table: France Astaxanthin Market, By Source, 2014-2023($Million)
Table: France Astaxanthin Market, By Product, 2014-2023($Million)
Table: France Astaxanthin Market, By Application, 2014-2023($Million)
Table: UK Astaxanthin Market, By Source, 2014-2023($Million)
Table: UK Astaxanthin Market, By Product, 2014-2023($Million)
Table: UK Astaxanthin Market, By Application, 2014-2023($Million)
Table: Italy Astaxanthin Market, By Source, 2014-2023($Million)
Table: Italy Astaxanthin Market, By Product, 2014-2023($Million)
Table: Italy Astaxanthin Market, By Application, 2014-2023($Million)
Table: Spain Astaxanthin Market, By Source, 2014-2023($Million)
Table: Spain Astaxanthin Market, By Product, 2014-2023($Million)
Table: Spain Astaxanthin Market, By Application, 2014-2023($Million)
Table: Rest of Europe Astaxanthin Market, By Source, 2014-2023($Million)
Table: Rest of Europe Astaxanthin Market, By Product, 2014-2023($Million)
Table: Rest of Europe Astaxanthin Market, By Application, 2014-2023($Million)
Table: Asia-Pacific Astaxanthin Market, By Country, 2014-2023($Million)
Table: Asia-Pacific Astaxanthin Market, By Source, 2014-2023($Million)
Table: Asia-Pacific Astaxanthin Market, By Product, 2014-2023($Million)
Table: Asia-Pacific Astaxanthin Market, By Application, 2014-2023($Million)
Table: Japan Astaxanthin Market, By Source, 2014-2023($Million)
Table: Japan Astaxanthin Market, By Product, 2014-2023($Million)
Table: Japan Astaxanthin Market, By Application, 2014-2023($Million)
Table: China Astaxanthin Market, By Source, 2014-2023($Million)
Table: China Astaxanthin Market, By Product, 2014-2023($Million)
Table: China Astaxanthin Market, By Application, 2014-2023($Million)
Table: Australia Astaxanthin Market, By Source, 2014-2023($Million)
Table: Australia Astaxanthin Market, By Product, 2014-2023($Million)
Table: Australia Astaxanthin Market, By Application, 2014-2023($Million)
Table: India Astaxanthin Market, By Source, 2014-2023($Million)
Table: India Astaxanthin Market, By Product, 2014-2023($Million)
Table: India Astaxanthin Market, By Application, 2014-2023($Million)
Table: South Korea Astaxanthin Market, By Source, 2014-2023($Million)
Table: South Korea Astaxanthin Market, By Product, 2014-2023($Million)
Table: South Korea Astaxanthin Market, By Application, 2014-2023($Million)
Table: Rest of Asia-Pacific Astaxanthin Market, By Source, 2014-2023($Million)
Table: Rest of Asia-Pacific Astaxanthin Market, By Product, 2014-2023($Million)
Table: Rest of Asia-Pacific Astaxanthin Market, By Application, 2014-2023($Million)
Table: Rest of the World Astaxanthin Market, By Country, 2014-2023($Million)
Table: Rest of the World Astaxanthin Market, By Source, 2014-2023($Million)
Table: rest of the World Astaxanthin Market, By Product, 2014-2023($Million)
Table: Rest of the World Astaxanthin Market, By Application, 2014-2023($Million)
Table: Brazil Astaxanthin Market, By Source, 2014-2023($Million)
Table: Brazil Astaxanthin Market, By Product, 2014-2023($Million)
Table: Brazil Astaxanthin Market, By Application, 2014-2023($Million)
Table: Turkey Astaxanthin Market, By Source, 2014-2023($Million)
Table: Turkey Astaxanthin Market, By Product, 2014-2023($Million)
Table: Turkey Astaxanthin Market, By Application, 2014-2023($Million)
Table: Saudi Arabia Astaxanthin Market, By Source, 2014-2023($Million)
Table: Saudi Arabia Astaxanthin Market, By Product, 2014-2023($Million)
Table: Saudi Arabia Astaxanthin Market, By Application, 2014-2023($Million)
Table: South Africa Astaxanthin Market, By Source, 2014-2023($Million)
Table: South Africa Astaxanthin Market, By Product, 2014-2023($Million)
Table: South Africa Astaxanthin Market, By Application, 2014-2023($Million)
Table: United Arab Emirates Astaxanthin Market, By Source, 2014-2023($Million)
Table: United Arab Emirates Astaxanthin Market, By Product, 2014-2023($Million)
Table: United Arab Emirates Astaxanthin Market, By Application, 2014-2023($Million)
Table: Others Astaxanthin Market, By Source, 2014-2023($Million)
Table: Others Astaxanthin Market, By Product, 2014-2023($Million)
Table: Others Astaxanthin Market, By Application, 2014-2023($Million)
Table: Alga Technologies: Key Strategic Developments, 2015-2017
Table: Cyanotech Corporation: Key Strategic Developments, 2015-2017
Table: Fuji chemicals: Key Strategic Developments, 2015-2017
Table: BlueOcean NutraSciences Inc.: Key Strategic Developments, 2015-2017
Table: Fenchem: Key Strategic Developments, 2015-2017
Table: MicroA: Key Strategic Developments, 2015-2017
Table: EID Parry: Key Strategic Developments, 2015-2017
Table: BGG (Beijing Gingko Group): Key Strategic Developments, 2015-2017
Table: Heliae: Key Strategic Developments, 2015-2017
Table: Igene Biotechnology: Key Strategic Developments, 2015-2017
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