Astaxanthin Market Insights:
The Astaxanthin Market size was valued at USD 702.44 Million in 2022, expecting a CAGR of 8.2% during the forecast period (2023-2030), and the market is projected to be worth USD 1319.55 Million by 2030.
Driver:
The increased adoption of Astaxanthin in the Pharmaceuticals industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Astaxanthin also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Astaxanthin in many sectors also boosts the market growth during the forecast period.
The Astaxanthin market refers to the global production and distribution of a naturally occurring pigment that belongs to the carotenoid family, known as astaxanthin. Astaxanthin is primarily found in microalgae, yeast, salmon, trout, krill, shrimp, crayfish, and other aquatic animals, and it is responsible for their pink or red color. Astaxanthin has been gaining popularity in recent years due to its various health benefits, including its antioxidant properties, anti-inflammatory effects, and potential benefits for cardiovascular health, eye health, and immune function.
Astaxanthin Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Product Type (Natural, Synthetic), By Application (Aquaculture, Nutraceuticals, Food and Beverages, Others), and companies (Algatech Ltd, Cyanotech Corporation, MicroA, Beijing Gingko Group (BGG), Algalíf Iceland EHF, Fuji Chemical Industries Co. Ltd, PIVEG, Inc., Atacama Bio Natural Products S.A, ENEOS Corporation, E.I.D. – Parry (India) Limited (Alimtec S.A., Valensa International)), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 8.2%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 1319.55 Million |
| CAGR (2023-2030) | 8.2% |
| By Product Type | Natural, Synthetic |
| By Application | Aquaculture, Nutraceuticals, Food and Beverages, Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Algatech Ltd, Cyanotech Corporation, MicroA, Beijing Gingko Group (BGG), Algalíf Iceland EHF, Fuji Chemical Industries Co. Ltd, PIVEG, Inc., Atacama Bio Natural Products S.A, ENEOS Corporation, E.I.D. – Parry (India) Limited (Alimtec S.A., Valensa International) |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Astaxanthin market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Algatech Ltd, Cyanotech Corporation, MicroA, Beijing Gingko Group (BGG), Algalíf Iceland EHF, Fuji Chemical Industries Co. Ltd, PIVEG, Inc., Atacama Bio Natural Products S.A, ENEOS Corporation, E.I.D. – Parry (India) Limited (Alimtec S.A., Valensa International)
Market Segment Analysis:
By Product Type
- Natural
- Synthetic
By Application
- Aquaculture
- Nutraceuticals
- Functional Foods
- Dietary Supplements
- Food and Beverages
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Astaxanthin industries in the region.
Key Astaxanthin Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Astaxanthin Market segments.
– Largest Market Share Held by Industry to Industry for Astaxanthin
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Astaxanthin Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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