Astaxanthin Market Synopsis by 2023
Astaxanthin is a naturally occurring pigment. It is a reddish color pigment belongs to a family of carotenoid pigments. It has various significant properties such as excellent UV resistance, anti-oxidant, anti-aging, and reliable nature. It is used to provide the flexibility, comfort, and biocompatibility nature to the product.
The Global Astaxanthin Market has been driven by its growing usage in the production of feed, supplements, food, health care products, and others. Moreover, it is estimated that the personal care product segment is set to witness the highest growth in the market due to increasing consumption of carotenoid pigments in different products such as anti-aging cream, lotions, perfumes, and others.
Some of the prominent players operating in the Global Astaxanthin Market are Alga Technologies (Israel), BASF SE (Germany), Koninklijke DSM N.V. (the Netherlands), Fuji Chemical Industries Co., Ltd. (Japan), JXTG Nippon Oil & Energy Corporation (Japan), Heliae (the U.S.), Otsuka Pharmaceutical Co., Ltd.(Japan), Fenchem(China), Parry Nutraceuticals(India), and Piveg, Inc. (the U.S.), among others.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
………to be continue…..
- Company Profiles
13.1 Alga Technologies
13.1.1 Company Overview
13.1.2 Product/Business Segment Overview
13.1.3 Financial Updates
13.1.4 Key Developments
13.2 BASF SE
………to be continue…..
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The Global Astaxanthin Market is segregated into source, form, process, and end-use. On the basis of the source, the market is further categorized into natural and chemical. The most widely used source in the market is natural segment due to its growing consumption in feed, food, agriculture, and others. It is predicted that the chemical source segment may witness slow growth due to growing substitution of synthetic products by natural materials over the forecast period. On the basis of form, the market is sub-divided into dry and liquid astaxanthin. The growing use of dry pigments as a feed and fodder is projected to drive the market in the coming years. The liquid pigment is likely to grow at a higher CAGR on account of its increasing use in the personal care and cosmetics products.
The Global Astaxanthin Market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America holds a major share of the market due to the growing demand for carotenoid pigments in feed, supplements, food, health care products, and others. The feed segment is predicted to witness a rapid growth in the market due to growing consumption of haematococcus pluvialis to produce high standard astaxanthin in countries such as U.S.A, Canada and Mexico. It is estimated the health care products segment is set to witness a higher growth in the market during the forecast period, 2017-2023.
On the Basis of Process, the market is segmented into biological and chemical. Between these, the biological segment is anticipated to observe a rapid growth due to its ant-toxic, reliable nature over chemical products. The application is classified into feed, supplements, food, health care products, and others. Among these, the health care products segment is expected to observe a higher growth due to its increasing use in fairness products.
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