Press release
Otsuka Pharmaceutical Companies (U.S.), Synthetic Genomics Profiled in Astaxanthin Market 2018-2024 | Prominent Players - Archer Daniels Midland Company, BASF, PIVEG, Inc., Divi's Nutraceuticals, Algatechnologies, Fuji Chemical Industries USA, Inc, Algaeo
Astaxanthin Market
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Company Profiles
1. Archer Daniels Midland Company
2. BASF
3. Otsuka Pharmaceutical Companies (U.S.)
4. Synthetic Genomics
5. Algatechnologies
6. Fuji Chemical Industries USA, Inc
7. PIVEG, Inc.
8. Divi's Nutraceuticals
9. BGG (Beijing Gingko Group)
10. Cyanotech Corporation
11. Algaeon, Inc.
12. Cardax, Inc.
13. JX Nippon Oil & Energy USA, Inc.
14. Regenurex Health Corporation formerly AlgaeCan Biotech Ltd.
15. Innobio Limited
16. Fennchem Biotek Ltd.
17. Contract Biotics
18. Mera Pharmaceuticals Inc.
19. FUJIFILM Hunt Chemicals U.S.A., Inc. Etchants
Browse key industry insights spread across 350 pages with 495 market data tables & 8 figures & charts from the report, “Astaxanthin Market Size By Application (Dietary Supplement, Personal Care, Pharmaceuticals, Food & Beverages, Animal Feed {Aquaculture, Livestock, Pets}), By Source (Synthetic, Natural), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Norway, Denmark, Turkey, Ireland, Spain, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Indonesia, Vietnam, Brazil, Mexico, Argentina, Chile, Ecuador, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/astaxanthin-market
Astaxanthin market from a synthetic source will dominate the consumption with more than 55% share by 2024. High usage of animal feed applications due to its high suitability will primarily contribute towards the revenue generation. Its adoption in aquaculture for providing pigmentation to fishes and cost effectiveness will further support the industry dominance. Naturally sourced counterparts are likely to witness highest CAGR from 2018 to 2024 owing to shifting consumer preference towards sustainable and environmentally friendly products. This shifting preference can be attributed to the provision of the benefits such as better pigmentation in animal feed and various health benefits for human beings.
Asia Pacific astaxanthin market led the regional share and is projected to surpass 150 tons demand by 2024. Large population across the region with deficiency of nutrients along with the presence of leading industry participants, including BGG will further support the regional dominance.
Astaxanthin market from North America will grow significantly, witnessing around 3.5% growth over the next seven years, primarily owing to rising consumer awareness regarding its health benefits. It is attributed to the presence of various organizations such as Natural Algae Astaxanthin Association that are responsible for creating awareness about its functional properties.
BASF, BGG, INNOBIO Ltd., Cardax, Nippon Oil & Energy Corporation, and Fuji Chemical company are among the major players in the global astaxanthin market. Business expansion is among the key strategies implemented by the competitors to strengthen their customer base. For instance, in March 2016, BGG announced the spinoff of its astaxanthin production into a new subsidiary, Algae Life Sciences to obtain an organic astaxanthin certification. Algatech, Mera Pharmaceuticals, Divis Nutraceuticals, Otsuka Pharmaceutical Co. Ltd., and Contract Biotics are few other prominent industry participants.
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