Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- 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 Attributes:
| Report Attribute | Details |
| No. of Pages | 393 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $613.3 Million |
| Forecasted Market Value (USD) by 2030 | $1000 Million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
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/eam40p
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