Global Astaxanthin Market Size Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecast up to 2024
Market Study Report recently introduced new title on “2018-2024 Global Astaxanthin Market Report” that provides an in-depth overview of industry and competitive landscape, covering multiple market segments and elaborates market outlook and status to 2024.
Astaxanthin market from Asia Pacific dominated the overall demand, crossing 150 tons consumption by 2024. The region witnesses high population with nutritional deficiency, that results in strong product demand. Presence of established industry participants such as BGG in the region will further contribute towards the revenue generation. North America will witness approximately 3.5% CAGR from 2018 to 2024, essentially due to rising awareness about the benefits of its consumption in multiple application. Presence of various organizations such as Natural Algae Astaxanthin Association to promote its usage will further support the regional growth.
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Scope of Report
The Astaxanthin Market Report gives a clear picture of the current situation of the market which covers global industry analysis, size, share, growth, trends, key statistics and forecast Till 2024. The report on global Astaxanthin Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research.
Flourishing cosmetics industry along with rising consumer awareness regarding the nutritional benefits of astaxanthin will primarily drive the industry growth over the forecast timeline. Proliferating demand for cosmetics used by geriatric population such as anti-ageing creams and few other supplements will further escalate the revenue generation. The product offers numerous advantages to the consumers including improved brain health and vision, resulting in enhanced sales, strengthening the astaxanthin market penetration.
Extensive usage as a prominent ingredient by several spa owners and manufacturers of cosmetic products in their therapies owing to their excellent skin-friendly and anti-oxidant properties will positively impact the astaxanthin market. Moreover, high adoption of the product in animal feed, particularly in aquafeed applications over the past few years has further accelerated its demand. However, probability of product adulteration and high production costs are likely to hinder the astaxanthin market growth over the coming years.
Regular innovations in production process of the natural variants of the product result in reduced wastage and high-quality yield. Drying, cultivation, and extraction are among few highly adopted techniques that are preferred for optimal utilization of resources. Microalgae cultivation is a prominent technique that has gained traction in the astaxanthin market. High adoption of this technology is attributed to provision of the benefits such as prevention from microbial contamination and significant reduction in agricultural residue.
Astaxanthin market from animal feed accounted for highest share of over 40% in 2017 and is expected to continue the same over the next seven years. Extensive usage of the product as a prominent ingredient in the applications including livestock and aquaculture will contribute to the revenue generation. Various government initiatives for promotion of aquaculture is likely to further strengthen the astaxanthin market penetration. Dietary supplements will witness over 4% CAGR owing to proliferating demand for naturally sourced products. Moreover, easy availability along with cost-effectiveness will further drive the segment?s growth till 2024. Rapid pain relieving, and cardiovascular benefits are other factors positively impacting the industry.
Top Manufacturers in global market are given bellow: INNOBIO Ltd., Fuji Chemical Company, Cardax, BGG, Nippon Oil & Energy Corporation, and BASF
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Synthetic source will showcase dominance in the astaxanthin market with more than 55% volume share by 2024. It is highly suitable for animal feed applications, primarily contributing towards the revenue generation. Its cost-effectiveness and high implementation in aquaculture to provide pigmentation to fishes will further strengthen the product penetration. Astaxanthin market from natural source is anticipated to grow rapidly from 2018 to 2024 owing to high consumer preference towards environmentally friendly and sustainable products. Moreover, the product offers various advantages such as health benefits for human beings as well as enhanced pigmentation in animal feed applications.
The above information is provided on a regional and country basis for the following: U.S., Canada, Germany, UK, France, Italy, Norway, Denmark, Turkey, Ireland, Spain, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Indonesia, Vietnam, Brazil, Mexico, Argentina, Chile, Ecuador, Saudi Arabia, UAE, South Africa
Table of Content@
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Commercial Drone Industry Insights
Chapter 4. Competitive Landscape
Continued@........................
Data Tables
TABLE 1 Global Astaxanthin market 360 degree synopsis, 2013 - 2024
TABLE 2 Global Astaxanthin market, 2013 - 2017, (Tons)
TABLE 3 Global Astaxanthin market, 2018 - 2024, (Tons)
TABLE 4 Global Astaxanthin market, 2013 - 2017, (USD Million)
TABLE 5 Global Astaxanthin market, 2018 - 2024, (USD Million)
TABLE 6 Global Astaxanthin estimates by region, 2013 - 2017 (Tons)
TABLE 7 Global Astaxanthin estimates by region, 2018 - 2024 (Tons)
TABLE 8 Global Astaxanthin estimates by region, 2013 - 2017 (USD Million)
TABLE 9 Global Astaxanthin estimates by region, 2018 - 2024 (USD Million)
TABLE 10 Global Astaxanthin market estimates by application, 2013 - 2017 (Tons)
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