Market Analysis and Insights: Global Astaxanthin Market
Astaxanthin is a naturally occurring dark red carotenoid found in nature primarily in aquatic animals such as salmon, trout, krill, shrimp, crayfish, and crustaceans. Astaxanthin is more than just a red pigment, it is one of the most powerful lipophilic antioxidants yet discovered. It has the unique capacity to quench free radicals and reactive species of oxygen and to inhibit lipid peroxidation. Studies have shown natural astaxanthin to be over 500 times stronger than vitamin E and much more potent than other carotenoids such as lutein, lycopene and ?-carotene. Moreover, Astaxanthin a xanthophyll carotenoid, is a nutrient with a unique molecule structure, it does not convert to vitamin a (retinol) and has no "pro-oxidant" activity.
Due to the COVID-19 pandemic, the global Astaxanthin market size is estimated to be worth US$ 112.4 million in 2022 and is forecast to a readjusted size of US$ 206.8 million by 2028 with a CAGR of 10.7% during the review period. Fully considering the economic change by this health crisis, Natural Astaxanthin accounting for % of the Astaxanthin global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Nutraceuticals segment is altered to an % CAGR throughout this forecast period.
The major players in global Astaxanthin market include DSM, BASF, Zhejiang NHU, etc. The top 3 players occupy about 70% shares of the global market. Europe and North America are main markets, they occupy about 55% of the global market. Natural Astaxanthin is the main type, with a share about 60%. Feed is the main application, which holds a share about 70%.
The authors of this research report have explored the key segments: Type and Application. The report offers an in-depth breakdown of type and application segments and their sub-segments. The lucrativeness and growth potential have been looked into by the industry experts in this report. This section of the report also provides sales and revenue forecast data by type and application segments based on sales, price, and revenue for the period 2017-2028. The specialists, to broaden the understanding of the users, have done value chain and raw material analysis in this section.
Segment by Type
Segment by Application
Food and Beverages
Consequence of Covid-19 Pandemic
The authors of this study have enlightened the readers on the rise and effect of the Covid-19 outbreak on the development. They have investigated the changes brought about in the demand/supply side, consumption, supply chain, and sales/manufacturing. The readers will get familiar with the measures that have helped the key players to bring the Astaxanthin market back to the pre-covid levels.
Trends & Prospects
In this segment of the report, the specialists have delved into the key growth opportunities that are likely to emerge. This will aid the key players to simplify complex issues related to business and frame future strategies to compete in this competitive environment. This section will certainly assist the players to boldly position their business.
Middle East & Africa
In this section of the report, the researchers have done a comprehensive analysis of the prominent players operating and the strategies they are focusing on to combat the intense competition. Company profiles and share analysis of the prominent players are also provided in this section. They have also provided reliable sales and revenue data of the manufacturers for the period 2017-2022. With the assistance of this report, key players, stakeholders, and other participants will be able to stay abreast of the recent and upcoming developments in the business, further enabling them to make efficient choices. Mentioned below are the prime players taken into account in this research report:
Yunnan Alphy Biotech
Jingzhou Natural Astaxanthin
JX Nippon Oil& Energy