Astaxanthin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global astaxanthin market is segmented By Application into Supplement, Animal Feed, Aquaculture, and Others; By Source into Haematococcus Pluvialis Microalgae, Phaffia Yeast, Krill, and Others; & By Geography

Market Snapshot

Astaxanthin Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Europe, Middle East, and Africa
Largest Market: Asia Pacific
CAGR: 7.8 %
Astaxanthin Market Major Players

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Market Overview

The global astaxanthin market is projected to register a CAGR of 7.8% during the forecast period (2020 - 2025). 

  • The demand for astaxanthin is expected to increase, due to its multiple applications in pharmaceutical, nutraceuticals, and feed industries, among others. Also, the unique color and properties associated with astaxanthin have led to its increased use in commercial aquacultures, food coloring, and others. 
  • Astaxanthin is primarily derived from Haematococcus Pluvialis microalgae, as it carries the highest level of the astaxanthin and is relatively more sustainable than other sources.

Scope of the Report

The astaxanthin is derived from different sources such as haematococcus pluvialis microalgae, phaffia yeast, krill, and others. The astaxanthin derived from derived sources is extensively being used in different end-user industries which include dietary supplement, animal feed, aquaculture, and others.  The market is studied for different countries under each region to give a broader perspective of the market.

By Source
Haematococcus Pluvialis Microalgae
Phaffia Yeast
Krill
Others
By Application
Dietary Supplement
Animal Feed
Aquaculture
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Rest Of The World
South America
Middle East and Africa

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Key Market Trends

Extensive Use of Astaxathin in Animal Feed and Aquaculture

The demand for astaxanthin, as a pigment coloring medium for aquafeed, is augmented by the support provided by governments for aquaculture, along with the consent given by international food and feed regulation bodies, like the European Food Safety Agency, Canadian Food Inspection Agency, and the US Food and Drug Administration. The demand for astaxanthin, as a pigment coloring medium for aquafeed, is augmented by the support provided by governments for aquaculture, along with the consent given by international food and feed regulation bodies, like the European Food Safety Agency, Canadian Food Inspection Agency, and the US Food and Drug Administration. The demand for astaxanthin, as a pigment coloring medium for aqua feed, is augmented by the support provided by governments for aquaculture, along with the consent given by international food and feed regulation bodies, like the European Food Safety Agency, Canadian Food Inspection Agency, and the US Food and Drug Administration.  

Astaxanthin Market Key Trends

Asia Pacific Holds A Significant Share

The Asia Pacific is observed to provide great opportunities for astaxanthin players, due to its following attributes- the presence of highly proactive consumers, with respect to personal wellness, large aging population, leading to several opportunities for healthy-aging ingredients, rapidly changing market conditions, particularly the sales growth through online channels in Southeast Asia, presenting inexpensive entry into this market. The investments made by several global astaxanthin companies to increase their presence and reach in the region. For instance, the Icelandic-based astaxanthin ingredient and supplements producer Algalif (Reykjanesbaer), introduced its new IceCaps astaxanthin softgels and its current Icelandic Harvest brand of finished astaxanthin dietary supplements in the Asia-Pacific countries, in June 2018. 
 
Astaxanthin Market Growth Rate

Competitive Landscape

The global astaxanthin market has many players and is highly competitive. The market is dominated by key global players; however, there is a significant presence of the regional players.. Leading manufacturers in the astaxanthin market focus to leverage opportunities posed by emerging markets of Asia-Pacific, like China and India, to expand their revenue base. The key brands are embarking on expansions, mergers and acquisitions, and new product development as some of their key strategies to enhance growth through investing, consolidating, and optimizing their offerings, respectively. Major players in the market are AstaReal Holdings Co. Ltd, KeyNatura, and BGG (Beijing Ginko Group), among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Source

      1. 5.1.1 Haematococcus Pluvialis Microalgae

      2. 5.1.2 Phaffia Yeast

      3. 5.1.3 Krill

      4. 5.1.4 Others

    2. 5.2 By Application

      1. 5.2.1 Dietary Supplement

      2. 5.2.2 Animal Feed

      3. 5.2.3 Aquaculture

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest Of The World

        1. 5.3.4.1 South America

        2. 5.3.4.2 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 BGG (Beijing Ginko Group)

      2. 6.4.2 Fuji Chemical Industries Co. Ltd

      3. 6.4.3 Cyanotech Corporation

      4. 6.4.4 Koninklijke DSM NV

      5. 6.4.5 BASF SE

      6. 6.4.6 Murugappa Group (Valensa International)

      7. 6.4.7 JXTG Group

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The Astaxanthin Market market is studied from 2016 - 2026.

The Astaxanthin Market is growing at a CAGR of 7.8% over the next 5 years.

Europe, Middle East, and Africa is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

BASF SE, Cyanotech Corporation, Beijing Ginko Group, JXTG Group, Murugappa Group are the major companies operating in Astaxanthin Market.

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