Astaxanthin Market Size by Source (Synthetic, Natural), By Application (Dietary Supplement, Personal Care, Pharmaceuticals, Food & Beverages, Animal Feed {Aquaculture, Livestock, Pets}) Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Oct 2019  |  Report ID: GMI202  |  Authors: Kunal Ahuja, Amit Rawat

Report Format: PDF   |   Pages: 275   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Nutritional benefits offered in the dietary supplements to promote astaxanthin demand

Astaxanthin Market size exceeded USD 600 million, globally in 2018 and is estimated to grow at over 3.5% CAGR between 2019 and 2026.
 

Astaxanthin Market

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Astaxanthin belongs to xanthophyll category of carotenoids. It is a reddish pigment which naturally occurs in some algae and causes pink red color in like salmon, lobster, shrimp and other sea foods. The product is used as a dietary supplement owing to its easy availability coupled with offering cardiovascular benefits. The product is over 500 times stronger than vitamin E and is much more effective than other carotenoids such as lutein and lycopene.
 

Haematococcus pluvialis is the organism that naturally produces the highest concentrations of Astaxanthin. Global dietary supplements market was valued at over USD 100 billion in 2018. The product owing to high antioxidant properties compared to other food supplements find its wide application in dietary supplements. These supplements aid in providing various health benefits such as prevention of migraine headaches, strengthening the immune system, rheumatic diseases, lower cholesterol, blood pressures and cognitive diseases at lower costs.
 

Astaxanthin sourced form algae, synthetic and bacterial sources is generally recognized safe by GRAS. The FDA has issued consent for an increase in the daily serving for astaxanthin form 7.8 mg to 12 mg. Cyanotech has filed a new dietary ingredient petition with FDA to allow a 12 mg daily dosage for its BioAstin branded ingredient. This product offers speedy joint recovery from strenuous exercise or physical activity and also reduces oxidative stress that causes soreness or stiffness.
 

High production cost with extraction process are the prime factors for product high price trends. Stringent guidelines regarding the product usage in straight human consumption products is another issue negatively impacting the astaxanthin market growth.
 

Astaxanthin Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 600 Million (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 3.5% 2026 Value Projection: 880 Billion (USD)
Pages: 275 Tables, Charts & Figures: 503
Geographies covered (28): U.S., Canada, Germany, UK, France, Italy, Norway, Denmark, Turkey, Ireland, Spain, China, India, Japan, South Korea, Australia, Malaysia, Thailand, Indonesia, Vietnam, Brazil, Argentina, Mexico, Chile, Ecuador, Saudi Arabia, South Africa, UAE
Segments covered: Source & Applications
Companies covered (25): ALGA Technologies, Algaecan Biotech, Algix, BASF, BGG (Beijing Gingko Group), Cardax, Cyanotech Corporation, Divis Laboratories Limited, DSM, Fenchem, Fuji Chemical Industries Company Limited, INNOBIO Limited, JXTG Nippon Oil & Energy Corporation, Kunming Biogenic Company Limited, Lycored, Otsuka Pharmaceutical Co., Ltd, Piveg, Inc, Valensa International, Vidya Europe SAS, Wellgreen Technology Co., Limited, SeaQuarius, Derma E, Zenith Nutrition, Nutrex Hawaii, Biomar
Growth Drivers:
  • North America: Rising geriatric population and increasing demand for beauty and personal care products
  • Europe: Increasing demand for naturally sourced aquaculture feed
  • Asia Pacific: Expansion of animal feed industry
  • Latin America: Increasing demand for dietary supplements
  • Middle East and Africa: Expansion of Nutraceutical and Cosmetic market.
Pitfalls & Challenges:
  • Stringent government regulations and high production cost

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Synthetic astaxanthin source to remain key factor for production

Based on source, astaxanthin market is segmented into synthetic and natural. Synthetic astaxanthin is generally used for animal feed applications. It is produced by a highly complex process from petrochemicals and is nursed to fishes to offer coloration. Its adoption in aquaculture for offering pigmentation to these species and cost effectiveness may further support the market growth.
 

Many countries allow the usage of synthetic product in animal feeds and is much more concentrated than natural one. Synthetic products are supplied with 8 to 10 percent astaxanthin, while natural products are supplied with 1.5 to 2 percent product for animal use. As salmanoids are unable to synthesize the product they are fed as a part of their diet to meet nutritional demands.
 

Acceptance of natural ingredients in personal care to intensify astaxanthin demand

Astaxanthin Market, By Personal care Application, 2018 & 2026, (USD Million)
Astaxanthin Market, By Personal care Application, 2018 & 2026, (USD Million)

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Based on application, the astaxanthin market is segmented into dietary supplements, personal care, pharmaceuticals, food & beverage and animal feed. Rising consumer preference towards organic skin care products sourced from natural raw materials which are chemical free may expand product growth. Cosmetic product manufacturers are using this product as an ingredient in various body creams, sunscreens, lipsticks and facial creams. The antioxidant properties help in protecting the skin against the sun, heal damaged skin, reduce wrinkles and spots, enhance skin elasticity and other cosmetic benefits.
 

Natural astaxanthin market demand is attributed towards usage of Haematococcus pluvialis a micro algae which aid in averting skin from UV damage. The product act as single oxygen quenching which is 75 times stronger than lipoic acid and 800 times robust than CoQ10. The product also increase blood flow, which help the skin to have better flow which in turn increases water retention.
 

Reactive oxygen species causes peroxidation of the skin upper layer which decreases the natural barrier function. The product forages the ROS in the skin area which eventually helps lessen moisture loss and retains smooth skin.
 

Animal feed industry growth in Asia Pacific leads to astaxanthin consumption

China astaxanthin Market, By Animal Feed Application, 2018, (USD Million)
China astaxanthin Market, By Animal Feed Application, 2018, (USD Million)

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China market from animal feed application may witness significant gains at over 3.5% by 2025. Rising financial support by the governments for aquaculture sector with higher see food consumption is expected to drive the market in the region. High quality poultry feed is likely to drive demand for the product owing to its biological pigment which confers to various benefits.
 

Astaxanthin industry in Asia Pacific is increasing as livestock plays a key role in the agricultural development and has been tremendously growing in the last few decades. There have been various changes in terms of environmental sustainability, limited resources and population growth. Increasing demand for animal products, which further boost demand for animal feed additives in the Asian livestock industry. The product is used in animal feed for various improvements in survival, growth performance, reproductive capacity, disease resistance and immune related gene expression.
 

Joint Venture among Industry players to enhance product portfolio remains key growth strategy

In October 2018, BGG and its associates Solix Algredients and Algae Health Sciences released its flagship product AstaZine a natural astaxanthin. This product is used as dispersible emulsion form which are used in drink applications. This ingredient is used for several drinks’ applications such as sports beverages and anti-aging health shots.
 

In May 2018, Solix and BGG entered into joint venture to form a production plant in Colorado. The company aimed to build a manufacture scale supercritical fluid carbon dioxide extraction capacity in Colorado. The company’s portfolio for natural extract constituents originates from three sectors, fruits, algae plants.
 

In June 2018, Transcend Nutressentials and Fuji’s AstaReal partnered to make new innovations in astaxanthin ROS  formulation. This partnership permit Transcend Nutressentials to emphasis on new inventions for natural product. Under this collaboration, AstaReal  contribute to scientific and practical support to Nutressent in building the technology of natural products and various exclusive formulations to the market.
 

Several major companies are indulged in various strategic alliances to augment their market existence and gain a viable edge in the industry. Global astaxanthin market consists of industry players such as ALGA Technologies, Algix, BASF, BGG, Cyanotech, DSM, Fenchem, Lycored, Piveg, Wellgreen Technology, INNOBIO and Cardax.
 

The astaxanthin market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons revenue in USD from 2015 to 2026, for the following segments:

By Source

  • Synthetic
  • Natural

By Application

  • Dietary Supplements
  • Personal Care
  • Pharmaceuticals
  • Food & Beverage
  • Animal feed
    • Aquaculture
    • Livestock
    • Pets

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Norway
    • Denmark
    • Turkey
    • Ireland
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Malaysia
    • South Korea
    • Australia
    • Thailand
    • Indonesia
    • Vietnam
  • Latin America (LATAM)
    • Brazil
    • Argentina
    • Chile
    • Mexico
    • Ecuador
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
       

Frequently Asked Questions (FAQ) :

Astaxanthin is a reddish pigment which naturally occurs in some algae and causes pink red color in like salmon, lobster, shrimp and other sea foods.
Global market for astaxanthin exceeded USD 600 million in 2018 and is projected to exceed USD 880 million by 2026, according to a new report published by Global Market Insights, Inc.
Rapid demand for astaxanthin in the dietary supplements and growing consumer consciousness on consumption of anti-aging creams will be key driving factors for the growth of astaxanthin business worldwide.

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