The Report Astaxanthin Market Analysis By Source (Natural [Yeast,
Krill/Shrimp, Microalgae] And Synthetic), By Product (Dried Biomass/Powder,
Oil, Soft gels, Liquid), By Application, And Segment Forecasts, 2018 - 2025
The global astaxanthin market is expected to reach USD
2.57 billion by 2025, according to a new report by Grand View Research, Inc.
Adoption of advanced technologies in various stages of natural astaxanthin
production, such as microalgae harvesting, cultivation, extraction, and drying,
have been major factors driving market growth. Moreover, awareness about health
benefits, safety, and potential uses of astaxanthin is another driving
force.
Rising geriatric
population is estimated to result in an increase in the demand for cosmetics
such as antiageing creams and antioxidant products for improving aesthetic
appeal. Astaxanthin has been reported in many studies for its high antioxidant
and skin-friendly properties. Due to this, many cosmeceutical manufacturers and
wellness spa owners are using it in new products and associated therapies,
which is also estimated to drive demand.
Access
Research Report of Astaxanthin Market@ http://www.grandviewresearch.com/industry-analysis/global-astaxanthin-market
Further Key Findings From the Report Suggest:
· Naturally produced astaxanthin dominated
the production technology segment with a market share of 52.4% in 2016, owing
to increasing awareness about its health benefits, safety, and
multifunctionality.
· Microalgae is estimated to be one of the
largest and fastest growing natural source, owing to increasing use of H. pluvialis for
production of high-grade astaxanthin
· Adoption of technologically advanced
procedures for manufacturing natural astaxanthin with less contamination and
maximum yield is expected to fuel market growth
· Dried algae meal or biomass held the
largest market share by type of product in 2016 due to low production cost and
high use in aquaculture and as animal food
· Softgel capsules containing astaxanthin oil
or powder are rapidly gaining acceptance as oral nutraceutical, and this is
expected to fuel demand.
· Based on application, aquaculture and
animal feed dominated the market in 2016 with revenue of USD 220.0 million,
owing to its increased usage in coloring fish and trout for quality enhancement
· On the other hand, nutraceuticals are
expected to witness lucrative growth over the forecast period due to factors
such as high nutritional value, antioxidant properties, and low adverse effects
· North America held the largest market share
by region in 2016. Key factors for that can be attributed to its dominance are
local presence of key manufacturers, increasing base of health-conscious
population, and flourishing nutraceutical industry
· Supportive government regulations, growth
in population with nutritional deficiencies, and increasing liquidity in
developing countries are key drivers anticipated to provide high growth
opportunities to the Asia Pacific region.
· Some of the major players of the
astaxanthin market are Alga Technologies; Cyanotech Corporation; Fuji Chemicals
Industry Co., Ltd.; BlueOcean NutraSciences, Inc.; MicroA AS; Fenchem; EID
Parry (India) Ltd.; Beijing Gingko Group (BGG); Heliae Development, LLC; IGENE
Biotechnology, Inc.; and JX Nippon Oil and Energy Corporation.
Grand View Research has
segmented the global astaxanthin market on the basis of source, type of product,
application, and region.
Astaxanthin Source Technology Outlook (Revenue, USD
Million, 2014 - 2025)
·
Natural production
·
Synthetic production
Astaxanthin Type of Product Outlook (Revenue, USD
Million, 2014 - 2025)
·
Dried algae meal/biomass
·
Oil
·
Softgel
·
Liquid
·
Others
Astaxanthin Application Outlook (Revenue, USD Million,
2014 - 2025)
·
Dietary supplement/ nutraceuticals
·
Cosmetics
·
Animal feed and aquaculture
·
Others
Astaxanthin Regional Outlook (Volume, Tons; Revenue, USD
Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
