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Astaxanthin Market to Register Exponential Growth from Dietary Supplement Application by 2024

Author : Rahul Sankrityayan | Published Date : 2019-07-15 

Global Market Insights, Inc. has announced the launch of Astaxanthin Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Flourishing cosmetics industry along with rising consumer awareness regarding the nutritional benefits of astaxanthin will primarily drive the industry growth over the forecast timeline. Proliferating demand for cosmetics used by geriatric population such as anti-ageing creams and few other supplements will further escalate the revenue generation. The product offers numerous advantages to the consumers including improved brain health and vision, resulting in enhanced sales, strengthening the astaxanthin market penetration.

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Extensive usage as a prominent ingredient by several spa owners and manufacturers of cosmetic products in their therapies owing to their excellent skin-friendly and anti-oxidant properties will positively impact the astaxanthin market. Moreover, high adoption of the product in animal feed, particularly in aquafeed applications over the past few years has further accelerated its demand. However, probability of product adulteration and high production costs are likely to hinder the astaxanthin market growth over the coming years.

Regular innovations in production process of the natural variants of the product result in reduced wastage and high-quality yield. Drying, cultivation, and extraction are among few highly adopted techniques that are preferred for optimal utilization of resources. Microalgae cultivation is a prominent technique that has gained traction in the astaxanthin market. High adoption of this technology is attributed to provision of the benefits such as prevention from microbial contamination and significant reduction in agricultural residue.

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Astaxanthin market from animal feed accounted for highest share of over 40% in 2017 and is expected to continue the same over the next seven years. Extensive usage of the product as a prominent ingredient in the applications including livestock and aquaculture will contribute to the revenue generation. Various government initiatives for promotion of aquaculture is likely to further strengthen the astaxanthin market penetration. Dietary supplements will witness over 4% CAGR owing to proliferating demand for naturally sourced products.

Synthetic source will showcase dominance in the astaxanthin market with more than 55% volume share by 2024. It is highly suitable for animal feed applications, primarily contributing towards the revenue generation. Its cost-effectiveness and high implementation in aquaculture to provide pigmentation to fishes will further strengthen the product penetration. Astaxanthin market from natural source is anticipated to grow rapidly from 2018 to 2024 owing to high consumer preference towards environmentally friendly and sustainable products.

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Asia Pacific astaxanthin market led the regional share and is projected to surpass 150 tons demand by 2024. Large population across the region with deficiency of nutrients along with the presence of leading industry participants, including BGG will further support the regional dominance.

BASF, BGG, INNOBIO Ltd., Cardax, Nippon Oil & Energy Corporation, and Fuji Chemical company are among the major players in the global astaxanthin market. Business expansion is among the key strategies implemented by the competitors to strengthen their customer base.

Partial Chapters Covered:

Chapter 1. Methodology and Scope

1.1. Methodology

1.1.1.  Initial data exploration

1.1.2.  Statistical model and forecast

1.1.3.  Industry insights and validation

1.1.4.  Scope, definition and forecast parameters

1.2. Data Sources

1.2.1.  Primary

1.2.2.  Secondary

Chapter 2. Executive Summary

2.1. Astaxanthin industry 3600 synopsis, 2013 - 2024

2.1.1.  Business trends

2.1.2.  Application trends

2.1.3.  Source trends

2.1.4.  Regional trends

Chapter 3. Astaxanthin Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.  Profit margin analysis

3.3.2.  Distribution channel analysis    OEM    Aftermarket

3.3.3.  Vendor matrix

3.4. Regulatory landscape

3.4.1.  North America

3.4.2.  Europe

3.4.3.  Asia Pacific

3.4.4.  Latin America

3.4.5.  MEA

3.5. Technology landscape (production process)

3.5.1.  Commercial production using green alga haematococcus pluvialis

3.5.2.  Origin oil’s electro water separation technology

3.6. Pricing analysis, by region    NA    Europe    APAC    LATAM    MEA

3.6.2.  Cost structure analysis

3.7. Raw material supply trends & prices

3.7.1.  Astaxanthin production from natural sources    Yeast    Bacteria    Shrimp Shells    Others

3.8. Industry impact forces

3.8.1.  Growth drivers    North America    Europe    Asia Pacific    LATAM    MEA

3.8.2.  Industry pitfalls & challenges

3.9. Potential customers for pet &animal feed applications

3.10.       Innovation & sustainability

3.11.       Growth potential analysis, 2017

3.12.       Competitive landscape, 2017

3.12.1.  Market share analysis, 2017

3.12.2.  Top players overview

3.12.3.  Brand analysis

3.12.4.  Key stake holders

3.12.5.  Strategy dashboard

3.13.    Porter's analysis

3.14.       PESTEL analysis

Chapter 4. Astaxanthin Market, By Application

4.1. Global astaxanthin market share by Application, 2017 & 2024

4.2. Dietary supplement

4.2.1.  Market estimates and forecast, 2013-2024

4.2.2.  Market estimates and forecast, by region, 2013-2024

4.3. Personal care

4.3.1.  Market estimates and forecast, 2013-2024

4.3.2.  Market estimates and forecast, by region, 2013-2024

4.4. Pharmaceuticals

4.4.1.  Market estimates and forecast, 2013-2024

4.4.2.  Market estimates and forecast, by region, 2013-2024

4.5. Food & beverage

4.5.1.  Market estimates and forecast, 2013-2024

4.5.2.  Market estimates and forecast, by region, 2013-2024

4.6. Animal feed

4.6.1.  Market estimates and forecast, 2013-2024

4.6.2.  Market estimates and forecast, by region, 2013-2024

4.6.3.  Aquaculture    Market estimates and forecast, 2013-2024    Market estimates and forecast, by region, 2013-2024

4.6.4.  Livestock    Market estimates and forecast, 2013-2024    Market estimates and forecast, by region, 2013-2024

4.6.5.  Pets    Market estimates and forecast, 2013-2024    Market estimates and forecast, by region, 2013-2024

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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