Rising Preference for Natural Ingredients Boosts Global Astaxanthin Market - Projected to Grow at a CAGR of 6.6% from 2022 to 2030

DUBLIN, Aug. 9, 2023 /PRNewswire/ -- The "Astaxanthin: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Astaxanthin estimated at US$613.3 Million in the year 2022, is projected to reach a revised size of US$1 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030.

Synthetic, one of the segments analyzed in the report, is projected to record 6.3% CAGR and reach US$593.9 Million by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Natural segment is readjusted to a revised 6.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $120 Million, While China is Forecast to Grow at 7.8% CAGR

The Astaxanthin market in the U.S. is estimated at US$120 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$247.3 Million by the year 2030 trailing a CAGR of 7.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.

Select Competitors (Total 56 Featured) -

• Algaecan Biotech Ltd
• Algatechnologies Ltd
• AstaReal, Inc
• AstaSupreme
• BASF SE
• Beijing Gingko Group Co Ltd
• Cardax, Inc
• Cyanotech Corporation
• Divi's Laboratories Limited
• Fenchem Biotek Ltd
• Fuji Chemical Industries Co., Ltd
• Koninklijke DSM N.V
• Otsuka Pharmaceutical
• Parry Nutraceuticals
• Piveg, Inc.
• Valensa International

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of COVID-19 Pandemic and a Looming Global Recession
• Focus on Nutrition and Immunity Presents Opportunity for Functional Foods & Supplements
• Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
• World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
• An Introduction to Astaxanthin
• Natural & Synthetic Sources
• Uses and Benefits of Astaxanthin
• Nutraceuticals, Dietary Supplements and Feed Additives Demand to Provide the Foundation for Growth in the Astaxanthin Market
• Feed Emerges as the Major Application Segment
• Rising Demand for Astaxanthin from Developing Countries
• Competition
• World Brands
• Recent Market Activity
• Astaxanthin - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Significant Benefits of Astaxanthin in Varied End-Use Industries to Boost Market Prospects
• Natural Astaxanthin Demand Grows Led by Rising Consumer Preference for Natural Products
• Extensive Usage of Astaxanthin as a Prominent Ingredient in Aquafeed Market Forms a Strong Basis for Growth
• With Fish Color Becoming a Critical Factor for Customers, Astaxanthin Emerges as a Vital Ingredient for Aquaculture Industry
• Growing Relevance of Live Feeds in Aquaculture for Fish Pigmentation & Development Fuels Astaxanthin Market
• COVID-19 Pandemic's Devastating Impact on Aquaculture Industry Affects Fish Food Market, Impacting Demand for Astaxanthin
• Global Aquaculture Production (in Mt) for the Years 2011 through 2027
• Global Fish Production (In Thousand Tonnes) by Aquaculture and Capture Fisheries for the Years 2019, 2021, 2023, 2025 and 2027
• Global Per Capita Fish Consumption (in Kg per Capita) by Region for 2019
• Government Support for Aquaculture Industry Provides Growth Impetus
• Growing Demand for Natural Food Coloring Agents Offers Immense Growth Opportunities for Natural Astaxanthin in F&B Industry
• Global Food Colors Market Size (in US$ Billion) for the Years 2020, 2022, 2025 and 2027
• Growing Demand for Nutraceuticals & Supplements Creates a Strong Foundation for the Growth of Astaxanthin
• Global Dietary Supplements Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
• Health & Wellness Trend Catalyzes Growth of Functional Foods & Drinks, Presenting Opportunities for Astaxanthin Market
• Global Functional Foods and Drinks Market Size (in US$ Thousand) by Region for the Years 2020 & 2027
• Innovations and Advancements to Boost Market Prospects
• Increasing Preference for Natural Ingredients in Healthcare Drives Demand for Astaxanthin
• Astaxanthin Holds Potential in Improving Cardiovascular Functioning
• Astaxanthin-Tocotrienols Combination Provides Greater Cognitive Benefits
• Increasing Expenditure on Personal Care and Cosmetic Products Propels Market Growth
• Growing Sales of Natural and Organic Cosmetic Products: Potential for Growth
• Global Natural Cosmetics Market: Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
• Anti-Aging Benefits of Astaxanthin Propels Market Growth in the Cosmetics Industry
• Expanding Anti-Aging Products Market Drives Demand for Natural Astaxanthin: Global Anti-Aging Cosmetics Market for the Years 2018, 2020, 2022 and 2024
• Study Finds Astaxanthin to Protect Skin from UV-Related Damage
• Demographic & Socio-Economic Factors Influence Market Prospects
• World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
• Urbanization Phenomenon
• World Urban Population in Thousands: 1950-2050P
• Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
• Middle Class Population
• Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
• Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/v97xkd

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