Astaxanthin Market Research Report - Global Forecast till 2027

Astaxanthin Market: Information By Source (Synthetic and Natural [Marine, Yeast & Microbes, Plants]), Form (Dry and Liquid), Application (Food and Beverages [Bakery & Confectionery, Beverages, Dairy and Frozen Desserts, Others], Pharmaceutical and Nutraceuticals, Animal Feed, Personal Care and Others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

ID: MRFR/F-B & N/3406-CR | February, 2021 | Region : Global

Astaxanthin Market Overview


The astaxanthin market is registered to account for a CAGR of 7.7% during the review timeframe. Further, the global market is predicted to reach USD 1,206.52 Million by the end of 2026. Generally, astaxanthin is known as a keto carotenoid pigment, which takes place in yeast, shrimp, trout, microalgae, and other sea creatures. This keto carotenoid pigment is frequently present in salmon fish that occurs in pink color. Astaxanthin is widely used as a food colorant and an antioxidant in different application industries like animal feed, food, and beverages, personal care, pharmaceuticals, and nutraceuticals.


In the aquaculture industry, astaxanthin has high demands because it is widely used as an animal feed additive and additive in formulated aquafeed to enhance and promote the coloration of muscle for shrimps and salmon. In addition, the food & beverages application is projected to register the highest CAGR in the review timeframe. Recently, it has been found that the demand for astaxanthin is increasing day by day due to the increasing functional foods and beverages demand with the growing health-conscious population across various parts of the globe. Moreover, the animal feed industry is giving more preferences to the astaxanthin application due to the global animal feed industry growth in the recent period of time. In addition, the demand for astaxanthin is growing due to the increasing focus on preventive healthcare products and growing awareness among the populations. Hence, the increasing application of astaxanthin is fueling the Astaxanthin Market Growth in the forecast period.


According to Market Analysis, the astaxanthin is directly supported by the governments for aquaculture, approved by international food and feed regulation bodies like the US Food and Drug Administration, Canadian Food Inspection, and European Food Safety Agency. Hence, the astaxanthin demands are increasing as a pigment coloring medium for aquafeed. In addition, the continuous support of the intended audiences like beverage manufacturers, astaxanthin manufacturers, processed food manufacturers, bakery manufacturers, animal feed manufacturers, pharmaceutical and nutraceuticals manufacturers, raw material suppliers, personal care products manufacturers, investors and trade experts, Governments, associations, and industrial bodies, and traders, wholesalers, and distributors are fueling the astaxanthin market.


COVID-19 Impact Analysis


The coronavirus outbreak has impacted many countries and created an economic backdrop across over 195 countries. The global pandemic has generated a chaotic environment at this period, which resulted in the advent of global rescission. During this pandemic period, many marketing industries have experienced a huge loss. The arrival of the global pandemic has generated panic and fear situations where more consumers became more health-conscious and kept checking their health conditions.


Therefore, people are widely looking to boost their immunity to maintain hygiene along with fighting coronavirus. As a result, people are highly taking functional foods and supplements, which is projected to enhance the Astaxanthin Market Growth in the future period. Additionally, the global market involves more key players and manufacturers to boost its market growth and value on a large scale.


Market Overview



  • Major Drivers of the Market


The astaxanthin market is driving the market growth due to the broad application range of astaxanthin, including both synthetic and natural. Another major factor driving the global market growth and increasing astaxanthin sales in the animal feed industry is the growth of the aquaculture industry across various parts of the world. Moreover, the increasing focus on preventive healthcare products is fueling the demands of the astaxanthin as well as the Market.


Recently, the US Food and Drug Administration (FDA) has followed a successful petition by Cyanotech and issued permission for the use of astaxanthin on daily serve that has increased from 7.8 mg to 12 mg. These kinds of initiatives are thriving the demands of the Astaxanthin Market in the upcoming years.



  • Opportunities of the global market


The astaxanthin market is projected to generate profitable growth opportunities for the present vendors and manufacturers due to the increasing demand for natural astaxanthin in various regions of the world.


In addition, the increasing research and development and the new product launches among the market giants are bringing more opportunities for the market Trends in the forecast timeframe.



  • Market Restraints


The market might get hampered the market growth due to the high cost of astaxanthin production from various natural sources.


Another factor that is hindering the Market Size is the rigorous regulations and guidelines regarding the product usages by the populations.



  • Market Growth challenges


The astaxanthin market might experience challenges due to the safety of the intake quantity on a per serve basis.


Another major challenge for the market is the stringent government regulations in various developed countries.



  • Cumulative growth Analysis


The astaxanthin market is accounted to generate a notable growth rate in the assessment period.


According to the Market Forecast report, the North American region is predicted to generate a significant share in 2019. Further, the US region is projected to retain its dominance in the research timeframe.


Market Segment Overview



  • By Source:


On the basis of source segment, the market has been classified into Natural, Synthetic, Yeast & Microbes, Plants, and Marine.


Among all, the natural source segment is predicted to generate the larger Astaxanthin Market Size in the research period.



  • By Form:


Based on the form segment, the market has been categorized into two, as Liquid and Dry.


Among these two, the liquid segment is projected to create the higher Astaxanthin Market Revenue in the forecast period. This liquid segment is highly used for manufacturing beadlets, oil extracts, and soft gels.



  • By Application:


In terms of application segment, the market has been segregated into different applications such as Food & Beverages (Bakery & Confectionery, Dairy and Frozen Desserts, Beverages, Others), Pharmaceutical and Nutraceuticals, Personal Care, Animal Feed, and others.


In 2019, the animal feed segment was predicted to account for the major Market Share. Further, this segment is projected to grow at a substantial CAGR, and it is aimed to meet USD 718.5 million during the forecast period of 2026.


Regional Analysis


As per the Astaxanthin Market Trends, the global market has a huge customer base in various regional parts such as North America, Europe, Asia Pacific, and the rest of the world.


In 2019, the Asia-Pacific region dominated the global market by generating the largest Market Share of 32.39%. This regional market has witnessed high growth due to the presence of a large animal feed market in the region and the growing production and consumption of nutraceuticals. According to the Market Forecast report, the European region is growing significantly due to the high consumption of nutraceuticals or functional beverages and growing manufacturers of astaxanthin in the region.


Competitive Landscape Analysis


According to Astaxanthin Market Analysis, the global market is fueling its market value with the continuous support and innovations of the market giants. These market giants of the Market include:



  • BASF SE (Germany),

  • Archer-Daniels-Midland Company (US),

  • Cyanotech Corporation (US),

  • Cardax, Inc. (US),

  • Alga Technologies (Israel),

  • Otsuka Holdings Co., Ltd (Japan),

  • Koninklijke DSM N.V. (Netherlands),

  • Beijing Gingko Group (China),

  • Fenchem (China),

  • Fuji Chemical Industries Co., Ltd (Japan).


These market giants emphasize adopting the new strategies of growth initiatives like partnerships, product launches, acquisitions, mergers, expansions, and agreements to acquire a larger audience or customer base. Moreover, these market players are investing more in research and development to develop their stable position in the global market.


Recent Developments



  • In December 2020, Adifo Software and BASF signed a contract to develop a digital solution by integrating sustainability analytics for animal agriculture. Infeed formulation, BASF has received significant help in advance.

  • In October 2020, Erber Group’s Biomin and Koninklijke DSM N.V. did a partnership to reduce emissions, better use of water and land, and improve feed consumption efficiency.


Report Overview


The Astaxanthin Market Outlook report explains that the current market scenario is stable and predicted to grow on a large scale in the upcoming years. Thus, the report has involved both qualitative and qualitative analysis in measuring the performance of the Market. For the collection of the data, this report has included both primary and secondary research methods.


Along with this, the Market Outlook report has covered the market segments, market dynamics, overview, regional analysis, recent developments, competitive analysis, and covid-19 analysis to understand the current situation of the global market. In addition, this report has also discussed the Market giant’s strategies to enhance the market performance in the future.


Segment Table:


By Source



  • Natural

  • Synthetic

  • Yeast & Microbes

  • Plants

  • Marine


By Form



  • Liquid

  • Dry


By Application



  • Food & Beverages (Bakery & Confectionery, Dairy and Frozen Desserts, Beverages, Others)

  • Pharmaceutical and Nutraceuticals

  • Personal Care

  • Animal Feed

  • Others

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS 15

1.1.1 GLOBAL ASTAXANTHIN MARKET, BY SOURCE 16

1.1.2 GLOBAL ASTAXANTHIN MARKET, BY FORM 17

1.1.3 GLOBAL ASTAXANTHIN MARKET, BY APPLICATION 18

1.1.4 GLOBAL ASTAXANTHIN MARKET, BY REGION 19

2 MARKET INTRODUCTION

2.1 DEFINITION 20

2.2 SCOPE OF THE STUDY 20

2.3 RESEARCH OBJECTIVE 20

2.4 MARKET STRUCTURE 21

2.5 KEY BUYING CRITERIA 21

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS 22

3.2 PRIMARY RESEARCH 23

3.3 SECONDARY RESEARCH 24

3.4 MARKET SIZE ESTIMATION 24

3.5 FORECAST MODEL 26

3.6 LIST OF ASSUMPTIONS & LIMITATIONS 27

4 MARKET INSIGHTS

5 MARKET DYNAMICS

5.1 INTRODUCTION 30

5.2 DRIVERS 31

5.2.1 WIDE RANGE OF APPLICATIONS 31

5.2.2 GROWTH OF THE AQUACULTURE INDUSTRY 31

5.2.3 INCREASING FOCUS ON PREVENTIVE HEALTHCARE 32

5.2.4 DRIVERS IMPACT ANALYSIS 32

5.3 RESTRAINT 33

5.3.1 HIGH COST OF PRODUCTION 33

5.3.2 RESTRAINT IMPACT ANALYSIS 33

5.4 OPPORTUNITY 33

5.4.1 RISING DEMAND FOR NATURAL INGREDIENTS IN END-USE INDUSTRIES 33

6 MARKET FACTOR ANALYSIS

6.1 VALUE CHAIN ANALYSIS 34

6.1.1 ALGAE CULTIVATION 36

6.1.2 PROCESSING 36

6.1.3 PACKAGING 36

6.2 SUPPLY CHAIN ANALYSIS 37

6.3 PORTER’S FIVE FORCES MODEL 38

6.3.1 THREAT OF NEW ENTRANTS 39

6.3.2 BARGAINING POWER OF SUPPLIERS 39

6.3.3 BARGAINING POWER OF BUYERS 39

6.3.4 THREAT OF SUBSTITUTES 39

6.3.5 RIVALRY 39

6.4 IMPACT OF THE COVID-19 OUTBREAK ON GLOBAL ASTAXANTHIN MARKET 40

7 GLOBAL ASTAXANTHIN MARKET, BY SOURCE

7.1 OVERVIEW 42

7.1.1 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY SOURCE, 2020-2027 43

7.2 SYNTHETIC 43

7.2.1 SYNTHETIC: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 44

7.3 NATURAL 44

7.3.1 NATURAL: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 44

8 GLOBAL ASTAXANTHIN MARKET, BY FORM

8.1 OVERVIEW 45

8.1.1 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY FORM, 2020-2027 46

8.2 DRY 46

8.2.1 DRY: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 46

8.3 LIQUID 47

8.3.1 LIQUID: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 47

9 GLOBAL ASTAXANTHIN MARKET, BY APPLICATION

9.1 OVERVIEW 48

9.1.1 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020-2027 49

9.2 FOOD AND BEVERAGES 49

9.2.1 FOOD AND BEVERAGES: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 50

9.3 PHARMACEUTICAL AND NUTRACEUTICALS 50

9.3.1 PHARMACEUTICAL AND NUTRACEUTICALS: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 50

9.4 ANIMAL FEED 51

9.4.1 ANIMAL FEED: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 51

9.5 PERSONAL CARE 51

9.5.1 PERSONAL CARE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 52

10 GLOBAL ASTAXANTHIN MARKET, BY REGION

10.1 OVERVIEW 53

10.2 NORTH AMERICA 55

10.2.1 US 57

10.2.2 CANADA 59

10.2.3 MEXICO 60

10.3 EUROPE 62

10.3.1 GERMANY 64

10.3.2 UK 66

10.3.3 FRANCE 67

10.3.4 SPAIN 69

10.3.5 ITALY 70

10.3.6 REST OF EUROPE 72

10.4 ASIA-PACIFIC 74

10.4.1 CHINA 76

10.4.2 JAPAN 78

10.4.3 INDIA 79

10.4.4 AUSTRALIA & NEW ZEALAND 81

10.4.5 REST OF ASIA-PACIFIC 82

10.5 REST OF THE WORLD 84

10.5.1 SOUTH AMERICA 86

10.5.2 MIDDLE EAST 88

10.5.3 AFRICA 89

11 COMPETITIVE LANDSCAPE

11.1 INTRODUCTION 91

11.1.1 MARKET STRATEGY ANALYSIS 91

11.2 COMPETITIVE BENCHMARKING 92

11.3 KEY DEVELOPMENTS & GROWTH STRATEGIES 93

11.3.1 PRODUCT LAUNCH 93

11.3.2 EXPANSIONS 93

11.3.3 AGREEMENT 94

11.3.4 PARTNERSHIP 94

11.3.5 ACQUISITION 94

12 COMPANY PROFILES

12.1 CARDAX, INC. 95

12.1.1 COMPANY OVERVIEW 95

12.1.2 FINANCIAL OVERVIEW 95

12.1.3 PRODUCTS OFFERED 96

12.1.4 KEY DEVELOPMENTS 96

12.1.5 KEY STRATEGIES 96

12.2 BASF SE 97

12.2.1 COMPANY OVERVIEW 97

12.2.2 FINANCIAL OVERVIEW 97

12.2.3 PRODUCTS OFFERED 98

12.2.4 KEY DEVELOPMENTS 98

12.2.5 SWOT ANALYSIS 98

12.2.6 KEY STRATEGIES 99

12.3 ALGA TECHNOLOGIES 100

12.3.1 COMPANY OVERVIEW 100

12.3.2 FINANCIAL OVERVIEW 100

12.3.3 PRODUCTS OFFERED 100

12.3.4 KEY DEVELOPMENTS 100

12.3.5 KEY STRATEGIES 101

12.4 ARCHER-DANIELS-MIDLAND COMPANY 102

12.4.1 COMPANY OVERVIEW 102

12.4.2 FINANCIAL OVERVIEW 102

12.4.3 PRODUCTS OFFERED 103

12.4.4 KEY DEVELOPMENTS 103

12.4.5 KEY STRATEGIES 103

12.5 KONINKLIJKE DSM N.V. 104

12.5.1 COMPANY OVERVIEW 104

12.5.2 FINANCIAL OVERVIEW 104

12.5.3 PRODUCTS OFFERED 105

12.5.4 KEY DEVELOPMENTS 105

12.5.5 SWOT ANALYSIS 106

12.5.6 KEY STRATEGIES 106

12.6 CYANOTECH CORPORATION 107

12.6.1 COMPANY OVERVIEW 107

12.6.2 FINANCIAL OVERVIEW 107

12.6.3 PRODUCTS OFFERED 108

12.6.4 KEY DEVELOPMENTS 108

12.6.5 SWOT ANALYSIS 108

12.6.6 KEY STRATEGIES 109

12.7 BEIJING GINGKO GROUP 110

12.7.1 COMPANY OVERVIEW 110

12.7.2 FINANCIAL OVERVIEW 110

12.7.3 PRODUCTS OFFERED 110

12.7.4 KEY DEVELOPMENTS 110

12.7.5 SWOT ANALYSIS 111

12.7.6 KEY STRATEGIES 111

12.8 FUJI CHEMICAL INDUSTRIES CO., LTD. 112

12.8.1 COMPANY OVERVIEW 112

12.8.2 FINANCIAL OVERVIEW 112

12.8.3 PRODUCTS OFFERED 112

12.8.4 KEY DEVELOPMENTS 112

12.8.5 KEY STRATEGIES 112

12.9 FENCHEM 113

12.9.1 COMPANY OVERVIEW 113

12.9.2 FINANCIAL OVERVIEW 113

12.9.3 PRODUCTS OFFERED 113

12.9.4 KEY DEVELOPMENTS 113

12.9.5 KEY STRATEGIES 113

12.10 OTSUKA HOLDINGS CO., LTD 114

12.10.1 COMPANY OVERVIEW 114

12.10.2 FINANCIAL OVERVIEW 114

12.10.3 PRODUCTS OFFERED 115

12.10.4 KEY DEVELOPMENTS 115

12.10.5 SWOT ANALYSIS 116

12.10.6 KEY STRATEGIES 116

13 REFERENCES

14 LIST OF TABLES

TABLE 1 PRIMARY INTERVIEWS 23

TABLE 2 LIST OF ASSUMPTIONS & LIMITATIONS 27

TABLE 3 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY SOURCE, 2020-2027 (USD MILLION) 43

TABLE 4 SYNTHETIC: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 44

TABLE 5 NATURAL: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 44

TABLE 6 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY FORM, 2020-2027 (USD MILLION) 46

TABLE 7 DRY: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 46

TABLE 8 LIQUID: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 47

TABLE 9 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020-2027 (USD MILLION) 49

TABLE 10 FOOD AND BEVERAGES: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 50

TABLE 11 PHARMACEUTICAL AND NUTRACEUTICALS: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 50

TABLE 12 ANIMAL FEED: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 51

TABLE 13 PERSONAL CARE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 52

TABLE 14 GLOBAL ASTAXANTHIN MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 54

TABLE 15 NORTH AMERICA: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020-2027 (USD MILLION) 55

TABLE 16 NORTH AMERICA: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 56

TABLE 17 NORTH AMERICA: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 56

TABLE 18 NORTH AMERICA: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 57

TABLE 19 US: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 57

TABLE 20 US: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 58

TABLE 21 US: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 58

TABLE 22 CANADA: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 59

TABLE 23 CANADA: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 59

TABLE 24 CANADA: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 60

TABLE 25 MEXICO: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 60

TABLE 26 MEXICO: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 61

TABLE 27 MEXICO: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 61

TABLE 28 EUROPE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020-2027 (USD MILLION) 62

TABLE 29 EUROPE: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 63

TABLE 30 EUROPE: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 63

TABLE 31 EUROPE: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 64

TABLE 32 GERMANY: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 64

TABLE 33 GERMANY: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 65

TABLE 34 GERMANY: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 65

TABLE 35 UK: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 66

TABLE 36 UK: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 66

TABLE 37 UK: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 67

TABLE 38 FRANCE: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 67

TABLE 39 FRANCE: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 68

TABLE 40 FRANCE: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 68

TABLE 41 SPAIN: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 69

TABLE 42 SPAIN: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 69

TABLE 43 SPAIN: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 70

TABLE 44 ITALY: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 70

TABLE 45 ITALY: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 71

TABLE 46 ITALY: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 71

TABLE 47 REST OF EUROPE: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 72

TABLE 48 REST OF EUROPE: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 72

TABLE 49 REST OF EUROPE: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 73

TABLE 50 ASIA-PACIFIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020-2027 (USD MILLION) 74

TABLE 51 ASIA-PACIFIC: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 75

TABLE 52 ASIA-PACIFIC: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 75

TABLE 53 ASIA-PACIFIC: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 76

TABLE 54 CHINA: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 76

TABLE 55 CHINA: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 77

TABLE 56 CHINA: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 77

TABLE 57 JAPAN: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 78

TABLE 58 JAPAN: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 78

TABLE 59 JAPAN: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 79

TABLE 60 INDIA: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 79

TABLE 61 INDIA: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 80

TABLE 62 INDIA: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 80

TABLE 63 AUSTRALIA & NEW ZEALAND: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 81

TABLE 64 AUSTRALIA & NEW ZEALAND: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 81

TABLE 65 AUSTRALIA & NEW ZEALAND: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 82

TABLE 66 REST OF ASIA-PACIFIC: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 82

TABLE 67 REST OF ASIA-PACIFIC: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 83

TABLE 68 REST OF ASIA-PACIFIC: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 83

TABLE 69 REST OF THE WORLD: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 (USD MILLION) 84

TABLE 70 REST OF THE WORLD: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 85

TABLE 71 REST OF THE WORLD: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 85

TABLE 72 REST OF THE WORLD: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 86

TABLE 73 SOUTH AMERICA: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 86

TABLE 74 SOUTH AMERICA: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 87

TABLE 75 SOUTH AMERICA: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 87

TABLE 76 MIDDLE EAST: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 88

TABLE 77 MIDDLE EAST: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 88

TABLE 78 MIDDLE EAST: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 89

TABLE 79 AFRICA: ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 89

TABLE 80 AFRICA: ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 90

TABLE 81 AFRICA: ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 90

TABLE 82 PRODUCT LAUNCH 93

TABLE 83 EXPANSIONS 93

TABLE 84 AGREEMENT 94

TABLE 85 PARTNERSHIP 94

TABLE 86 ACQUISITION 94

TABLE 87 CARDAX, INC.: PRODUCTS OFFERED 96

TABLE 88 CARDAX, INC.: KEY DEVELOPMENTS 96

TABLE 89 BASF SE: PRODUCTS OFFERED 98

TABLE 90 ALGA TECHNOLOGIES: PRODUCTS OFFERED 100

TABLE 91 ALGA TECHNOLOGIES: KEY DEVELOPMENTS 100

TABLE 92 ARCHER-DANIELS–MIDLAND COMPANY: PRODUCTS OFFERED 103

TABLE 93 KONINKLIJKE DSM N.V.: PRODUCTS OFFERED 105

TABLE 94 KONINKLIJKE DSM N.V.: KEY DEVELOPMENTS 105

TABLE 95 CYANOTECH CORPORATION: PRODUCTS OFFERED 108

TABLE 96 CYANOTECH CORPORATION: KEY DEVELOPMENTS 108

TABLE 97 BEIJING GINGKO GROUP: PRODUCTS OFFERED 110

TABLE 98 BEIJING GINGKO GROUP: KEY DEVELOPMENTS 110

TABLE 99 FUJI CHEMICAL INDUSTRIES CO., LTD: PRODUCTS OFFERED 112

TABLE 100 FENCHEM: PRODUCTS OFFERED 113

TABLE 101 OTSUKA HOLDINGS CO., LTD: PRODUCTS OFFERED 115

TABLE 102 OTSUKA HOLDINGS CO., LTD: KEY DEVELOPMENTS 115

15 LIST OF FIGURES

FIGURE 1 MARKET SYNOPSIS 14

FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL ASTAXANTHIN MARKET, 2020 15

FIGURE 3 GLOBAL ASTAXANTHIN MARKET ANALYSIS, BY SOURCE 16

FIGURE 4 GLOBAL ASTAXANTHIN MARKET ANALYSIS, BY FORM 17

FIGURE 5 GLOBAL ASTAXANTHIN MARKET ANALYSIS, BY APPLICATION 18

FIGURE 6 GLOBAL ASTAXANTHIN MARKET ANALYSIS, BY REGION, 2020 19

FIGURE 7 GLOBAL ASTAXANTHIN MARKET: STRUCTURE 21

FIGURE 8 KEY BUYING CRITERIA FOR ASTAXANTHIN 21

FIGURE 9 RESEARCH PROCESS 22

FIGURE 10 TOP-DOWN AND BOTTOM-UP APPROACHES 25

FIGURE 11 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY COUNTRY (2020-2027) 28

FIGURE 12 EUROPE: ASTAXANTHIN MARKET SIZE, BY COUNTRY (2020-2027) 28

FIGURE 13 ASIA-PACIFIC: ASTAXANTHIN MARKET SIZE, BY COUNTRY (2020-2027) 29

FIGURE 14 REST OF THE WORLD: ASTAXANTHIN MARKET SIZE, BY REGION (2020-2027) 29

FIGURE 15 MARKET DYNAMICS OVERVIEW 30

FIGURE 16 DRIVERS IMPACT ANALYSIS: GLOBAL ASTAXANTHIN MARKET 32

FIGURE 17 RESTRAINT IMPACT ANALYSIS: GLOBAL ASTAXANTHIN MARKET 33

FIGURE 18 VALUE CHAIN: GLOBAL ASTAXANTHIN MARKET 35

FIGURE 19 GLOBAL ASTAXANTHIN MARKET: SUPPLY CHAIN ANALYSIS 37

FIGURE 21 GLOBAL ASTAXANTHIN MARKET, BY SOURCE, 2020 (% SHARE) 42

FIGURE 22 GLOBAL ASTAXANTHIN MARKET, BY SOURCE, 2020-2027 (USD MILLION) 42

FIGURE 23 GLOBAL ASTAXANTHIN MARKET, BY FORM, 2020 (% SHARE) 45

FIGURE 24 GLOBAL ASTAXANTHIN MARKET, BY FORM, 2020-2027 (USD MILLION) 45

FIGURE 25 GLOBAL ASTAXANTHIN MARKET, BY APPLICATION, 2020 (% SHARE) 48

FIGURE 26 GLOBAL ASTAXANTHIN MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 48

FIGURE 27 GLOBAL ASTAXANTHIN MARKET, BY REGION, 2020-2027 (USD MILLION) 53

FIGURE 28 GLOBAL ASTAXANTHIN MARKET, BY REGION, 2020 (% SHARE) 54

FIGURE 29 NORTH AMERICA: ASTAXANTHIN MARKET SHARE, BY COUNTRY, 2020 (% SHARE) 55

FIGURE 30 EUROPE: ASTAXANTHIN MARKET SHARE, BY COUNTRY, 2020 (% SHARE) 62

FIGURE 31 ASIA-PACIFIC: ASTAXANTHIN MARKET SHARE, BY COUNTRY, 2020 (% SHARE) 74

FIGURE 32 REST OF THE WORLD: ASTAXANTHIN MARKET SHARE, BY REGION, 2020 (% SHARE) 84

FIGURE 33 CARDAX, INC.: FINANCIAL OVERVIEW SNAPSHOT 95

FIGURE 34 BASF SE: FINANCIAL OVERVIEW SNAPSHOT 97

FIGURE 35 BASF SE: SWOT ANALYSIS 98

FIGURE 36 ARCHER-DANIELS–MIDLAND COMPANY: FINANCIAL OVERVIEW SNAPSHOT 102

FIGURE 37 KONINKLIJKE DSM N.V.: FINANCIAL OVERVIEW SNAPSHOT 104

FIGURE 38 KONINKLIJKE DSM N.V.: SWOT ANALYSIS 106

FIGURE 39 CYANOTECH CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 107

FIGURE 40 CYANOTECH CORPORATION: SWOT ANALYSIS 108

FIGURE 41 BEIJING GINGKO GROUP: SWOT ANALYSIS 111

FIGURE 42 OTSUKA HOLDINGS CO., LTD: FINANCIAL OVERVIEW SNAPSHOT 114

FIGURE 43 OTSUKA HOLDINGS CO., LTD: SWOT ANALYSIS 116

Astaxanthin Market