In this report, Research Team covers the present scenario (with the base year being 2017) and the growth prospects of global Natural Astaxanthin market for 2018-2023.
Astaxanthin is a naturally occurring dark red carotenoid found in nature primarily in aquatic animals such as salmon, trout, krill, shrimp, crayfish, and crustaceans. 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 beta-carotene.
Natural astaxanthin is famous for strong antioxidant property. Generally, it has two types, astaxanthin oleoresin and astaxanthin powder. Natural astaxanthin content in astaxanthin oleoresin is higher than that in astaxanthin powder. So price of astaxanthin powder is lower than that of astaxanthin oleoresin. In 2017, production of astaxanthin powder was about 36114 Kg, with a share of 53.03%.
Natural astaxanthin is usually used in nutraceuticals, cosmetics, food and beverages, feed and other fields. Most natural astaxanthin manufacturers produce downstream nutraceuticals or cosmetics directly. Nutraceuticals is an important application of natural astaxanthin. Natural astaxanthin consumed in nutraceuticals was about 27677 Kg in 2017.
Although downstream demand for natural astaxanthin is too much, there are only several major suppliers in this industry, such as Cyanotech, Fuji, BGG, Parry Nutraceuticals, Algatechnologies, Biogenic, Jingzhou Natural Astaxanthin, Yunnan Alphy Biotech, ADM and Piveg. Great limitation in this industry is raw material resource. As main raw material of natural astaxanthin, microalga (haematococcus pluvialis) is easily interference by pests and diseases. Once raw material resource is abundant, there will be more and more enterprises entering this industry.
From 2013 to 2017, global natural astaxanthin production increased from 44488 Kg to 68102 Kg, with an average increase rate of 11.23%. Global production regions are mainly concentrated in China, Europe, North America and Japan. In 2017, Europe produced about 11.83% of global total natural astaxanthin. North America produced 42008 Kg, accounting for 61.68% in 2017.
Owing to high price of natural astaxanthin, global consumption regions are mainly distributed in Europe, North America and China. In 2017, North America consumed about 25724 Kg. Followed by Europe, with a consumption amount of 15032 Kg.
In the future, we predict that global demand for natural astaxanthin will keeps increasing. Raw material limitation in this industry will still be a question in next few years. By 2024, we predict that global consumption will be 21249 Kg.
Over the next five years, LPI(Research Team) projects that Natural Astaxanthin will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Natural Astaxanthin market by product type, application, key manufacturers and key regions.
To calculate the market size, Research Team considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
Food and Beverages
This report also splits the market by region:
Middle East and Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Jingzhou Natural Astaxanthin
Yunnan Alphy Biotech
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Natural Astaxanthin consumption (value and volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Natural Astaxanthin market by identifying its various subsegments.
Focuses on the key global Natural Astaxanthin manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Natural Astaxanthin with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Natural Astaxanthin submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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