Mar 11, 2020   SOURCE: PR NewsWire

Global Astaxanthin Market Forecasts, 2020-2027 - Microalgae, Softgel Capsules, and Nutraceuticals Present Lucrative Opportunities

DUBLIN, March 11, 2020 /PRNewswire/ -- The "Astaxanthin Market Size, Share & Trends Analysis Report by Source, by Product (Dried Algae Meal, Oil, Softgel), by Application (Nutraceutical, Cosmetics, Aquaculture and Animal Feed), and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.

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The global astaxanthin market size is expected to reach USD 3.4 billion by 2027, expanding at a CAGR of 16.2%.

Increasing awareness about nutrition for healthy lifestyle and growing preference for dietary supplements due to high hospitalization costs are factors fueling the demand for nutraceuticals and natural antioxidants, thus driving the market.

The key concerns regarding the adverse effects of chemical-based cosmetics has driven focus on the use of natural cosmetics and pharmaceuticals. Also, nutraceuticals have found a major application in the field of dermatology. For instance, in April 2019, researches in Japan and China investigated the use of astaxanthin on skin aging using mouse model and found that it improved dysregulation of aging-related gene expression.

Astaxanthin is widely used as a high value ketocarotenoid pigment for coloring of fishes like prawns, salmon, trout, and ornamental fishes, in order to increase their commercial value. Apart from coloring of aquatic animals, the carotenoid also improved the biological properties like improvements in survival, reproductive capacity, growth performance, stress tolerance, immunerelated gene expression, and disease resistance.

Major players are focusing on new product development and collaborative agreements to meet the increasing demand for the carotenoid in aquaculture. For instance, Heliae collaborated with Syndel Laboratories Ltd. for production of producing Nymega-an aquaculture feed ingredient-which was expected to be commercialized in 2017. Thus, increased adoption of the carotenoid in the aforementioned applications is anticipated to drive the market.

Further key findings from the report suggest:

    --  Naturally produced astaxanthin held the largest market share of 51.1% in
        2019, owing to rising awareness about its multifunctional health benefit
        and safety
    --  Microalgae is expected to be one of the largest and fastest growing
        natural source segments, due to the increasing use of H. pluvialis for
        production of high-quality astaxanthin and its ability to generate more
        astaxanthin even in stressful environmental conditions such as dried
        ponds
    --  Technological advancements used in the manufacturing of synthetic
        astaxanthin such as two-stage mixotrophic culture system and an attached
        cultivation system are further fueling market growth
    --  Although synthetic astaxanthin is gaining popularity, clinically it is
        inferior to its natural form, as it is usually manufactured using
        petrochemicals and has lower level of antioxidants
    --  Algatech Ltd. is a biotechnology company that specializes in commercial
        cultivation, production, and supply of microalgae and AstaPure-a natural
        astaxanthin, and also provides consultation and post-processing for
        large-scale microalgae cultivation.
    --  The softgel capsules segment is expected to witness lucrative growth
        over the forecast period due to rapidly gaining acceptance as oral
        nutraceutical.
    --  Nutraceuticals are estimated to grow at a significant pace over the
        forecast period due to factors such as low adverse effects, antioxidant
        properties, and high nutritional value.
    --  Favorable government regulations, presence of a strong target population
        with nutritional deficiencies in countries like India, China, and Japan
        are major factors estimated to provide high growth opportunities to the
        Asia Pacific region
    --  Some of the major players in the astaxanthin market are IGENE
        Biotechnology, Inc., Fenchem, Beijing Gingko Group (BGG), EID Parry
        (India) Ltd., JX Nippon Oil and Energy Corporation, Heliae Development,
        LLC, BlueOcean NutraSciences, Inc., Cyanotech Corporation, Alga
        Technologies, Fuji Chemicals Industry Co., Ltd., and MicroA AS

Key Topics Covered

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends & Scope

Chapter 4 Market Definitions

Chapter 5 Industry Outlook
5.1 Market Driver Analysis
5.1.1 Increasing demand for nutraceuticals and natural antioxidants
5.1.2 Introduction of advanced technologies
5.1.3 Increase in adoption of natural cosmetics, nutraceuticals, and pharmaceuticals
5.1.4 Increased use in aquaculture and coloring of fish
5.2 Market Restraint Analysis
5.2.1 High cost of production
5.2.2 Excess space requirement
5.3 Key Opportunities Prioritized
5.3.1 Key opportunities prioritized

Chapter 6 Business Environment Analysis
6.1 SWOT Analysis; by factor (Political & Legal, economic, and technological)
6.2 Porter's Five Forces Analysis
6.3 Regulatory Framework
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa

Chapter 7 Competitive Analysis
7.1 Vendor Landscape
7.1.1 List of key distributors and channel partners
7.1.2 Key company market share analysis, 2019
7.2 Public Companies
7.2.1 Company market position analysis
7.2.2 Competitive dashboard analysis
7.3 Private Companies
7.3.1 List of key emerging companies /technology disruptors/innovators
7.3.2 Regional network map

Chapter 8 Astaxanthin Market: Source Estimates & Trend Analysis
8.1 Astaxanthin Market: Source Movement Analysis
8.2 Natural
8.2.1 Natural market, 2016 - 2027 (USD Million)
8.2.2 Synthetic

Chapter 9 Astaxanthin Market: Product Estimates & Trend Analysis
9.1 Astaxanthin market: Product movement analysis
9.1.1 Dried Algae Meal or Biomass
9.1.2 Oil
9.1.3 Softgel
9.1.4 Liquid
9.1.5 Others

Chapter 10 Astaxanthin Market: Application Estimates & Trend Analysis
10.1 Astaxanthin market: Application movement analysis
10.1.1 Nutraceuticals
10.1.2 Cosmetics
10.1.3 Aquaculture and animal feed
10.1.4 Others

Chapter 11 Astaxanthin Market: Regional Estimates & Trend Analysis, by Source, Product, Application
11.1 Astaxanthin market: Regional movement analysis
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Latin America
11.6 Middle East & Africa

Chapter 12 Companies Profiled
12.1 Strategy Framework
12.2 Market Participation Categorization
12.3 Company Profiles
12.3.1 Algatech Ltd. (Solabia Group)
12.3.2 Cyanotech Corporation
12.3.3 Fuji Chemical Industries Co. Ltd.
12.3.4 BlueOcean NutraSciences (Pure Polar Labs, Inc.)
12.3.5 FENCHEM
12.3.6 MicroA
12.3.7 E.I.D. - Parry (India) Limited
12.3.8 Beijing Gingko Group (BGG)
12.3.9 JXTG Nippon Oil & Energy Corporation

For more information about this report visit https://www.researchandmarkets.com/r/t4i85i

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