Astaxanthin Market projecting to grow from an estimated value of USD 553.6 million in 2017 to USD 814.1 million by 2022, at a CAGR of 8.02% – Market Research Report Store

"Astaxanthin Market projecting to grow from an estimated value of USD 553.6 million in 2017 to USD 814.1 million by 2022, at a CAGR of 8.02% – Market Research Report Store" published in May 2017. It is a professional and in-depth study.

Summary

Market Research Report Store announces a new report＂Astaxanthin Market＂added to its database.The global astaxanthin market is projected to grow significantly from an estimated value of USD 553.6 million in 2017 to USD 814.1 million by 2022, at a CAGR of 8.02%. The astaxanthin market has been gaining importance due to its expanding end-use applications, rising awareness about preventive healthcare & nutraceuticals, and the growing demand for natural antioxidants in human and animal nutrition.

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“The dietary supplements segment is projected to be the fastest-growing application of astaxanthin”

The application of astaxanthin in the dietary supplements industry accounted for the second-largest share in 2016, and is expected to grow at the highest CAGR during the forecast period. The numerous health benefits, such as cardiovascular and neurological health, offered by the super-oxidant property of astaxanthin, coupled with the growing nutraceuticals market, are the major drivers contributing to the exponential growth of dietary supplements segment.

“Petroleum was the largest segment, by source, in 2016”

Petroleum-derived astaxanthin accounted for the largest share in 2016; however, natural astaxanthin, derived from plants, microalgae, and marine animals is expected to grow at a higher CAGR compared to petroleum-based astaxanthin. Animal feed is the primary market which thrives on synthetic astaxanthin from petroleum, whereas human nutrition is majorly driven by natural astaxanthin. However, the demand for natural astaxanthin in animal nutrition has been increasing in recent years due to a number of safety issues associated with the consumption of animal meat treated with petroleum-based astaxanthin. Among other sources, plants are the fastest-growing segment, by source.

“Asia-Pacific: The largest astaxanthin market”

The Asia-Pacific region was the largest regional market for astaxanthin in 2016. The growing awareness of the importance of antioxidants such as astaxanthin in the human diet, the high consumption of astaxanthin from the aquafeed industry, and increasing demand for antioxidants from food and supplement industries, contribute to the significant share of the Asia-Pacific region in the global astaxanthin market. Major markets in the Asia-Pacific region include China, India, and Australia-New Zealand.

Break-up of Primaries:
 By Company Type – Tier 1- 40%, Tier 2- 40%, Tier 3- 20%
 By Designation – C level-20%, Directors-40%, Others- 40%
 By Region – North America-25%, Europe-50%, and Asia-Pacific- 25%

Leading players profiled in this report are as follows:
• Koninklijke DSM N.V. (Netherlands)
• BASF SE (Germany)
• Cyanotech Corporation (U.S.)
• Otsuka Pharmaceuticals Co., Ltd. (Japan)
• Valensa International (U.S.)
• Fuji Chemical Industries CO., Ltd. (Japan)
• Divis Laboratories Ltd. (India)
• Beijing Ginko Group (China)
• Igene Biotechnology, Inc. (U.S.)
• Piveg, Inc. (U.S.)
• Fenchem Biotek, Ltd. (U.S.)
• Algatechnologies (Israel)
• Cardax, Inc. (U.S.)
• Supreme Biotechnologies (New Zealand)

Study Coverage:

The astaxanthin market has been segmented on the basis of source, application, form, and method of production, which are further divided into their subsegments. It has also been segmented on the basis of region into North America, Europe, Asia-Pacific and the Rest of the World (RoW).

Reasons to buy this report:
• To get a comprehensive overview of the global astaxanthin market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by the players.
• To gain insights of the countries/regions in the astaxanthin industry

TABLE OF CONTENTS

1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 MARKET DEFINITION 16
1.3 MARKETS COVERED 17
1.4 PERIODIZATION CONSIDERED FOR THE STUDY 18
1.5 CURRENCY 18
1.6 UNITS 18
1.7 STAKEHOLDERS 18

2 RESEARCH METHODOLOGY 19
2.1 RESEARCH DATA 19
2.1.1 SECONDARY DATA 20
2.1.1.1 Key data from secondary sources 20
2.1.2 PRIMARY DATA 21
2.1.2.1 Key data from primary sources 21
2.1.2.2 Key industry insights 22
2.1.2.3 Breakdown of primaries 22
2.2 MACROINDICATORS 23
2.2.1 INTRODUCTION 23
2.2.2 INCREASING GERIATRIC POPULATION 23
2.2.3 CHANGING CONSUMPTION PATTERNS 24
2.2.4 PREVALENCE OF NUTRITIONAL DEFICIENCY 25
2.3 MARKET SIZE ESTIMATION 25
2.4 MARKET BREAKDOWN & DATA TRIANGULATION 28
2.5 ASSUMPTIONS AND LIMITATIONS 29
2.5.1 ASSUMPTIONS 29
2.5.2 LIMITATIONS 29

3 EXECUTIVE SUMMARY 30
3.1 ASTAXANTHIN MARKET, BY SOURCE TYPE 32
4 PREMIUM INSIGHTS 37
4.1 ATTRACTIVE OPPORTUNITIES IN THE ASTAXANTHIN MARKET 37
4.2 ASTAXANTHIN MARKET, BY REGION 38
4.3 ASIA-PACIFIC ASTAXANTHIN MARKET, BY COUNTRY AND SOURCE 39
4.4 ASTAXANTHIN MARKET, BY APPLICATION 40
4.5 ASTAXANTHIN MARKET, BY SOURCE 41
4.6 PRODUCT LIFE CYCLE, BY REGION 42

5 MARKET OVERVIEW 43
5.1 INTRODUCTION 43
5.2 MARKET DYNAMICS 44
5.2.1 DRIVERS 45
5.2.1.1 Growing awareness toward preventive healthcare & nutraceuticals 45
5.2.1.2 Industrialization of the feed market 47
5.2.1.3 Increasing demand for cosmetic products 48
5.2.2 RESTRAINTS 49
5.2.2.1 High cost of production 49
5.2.3 OPPORTUNITIES 49
5.2.3.1 Government initiatives to support aquaculture 49
5.2.3.2 Growing demand for natural antioxidants 50

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