Astaxanthin Market 2019 Insights, Industry Outlook and Growth Forecast
Category: #business  By Partha Ray  Date: 2019-08-13
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Astaxanthin Market 2019 Insights, Industry Outlook and Growth Forecast

Global Market Insights, Inc. provides a detailed overview of Astaxanthin Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Powered by a plethora of applications in the animal feed domain, astaxanthin market has indeed been one of the most lucrative business spheres under the canopy of specialty chemicals space.  In fact, the animal feed application vertical procured almost 40% of the overall industry share in 2017. A large credit of this goes to the governmental backup with regards to aquaculture, which has extensively prompted astaxanthin’s utilization as pigment coloring agent.

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Elaborating further on the diverse application landscape of astaxanthin industry, dietary supplements have stood as another major growth avenue for this business space. Easy product availability coupled with a slew of associated health benefits will further generate a massive demand for astaxanthin in the ensuing years. As per estimates, the dietary supplements market is expected to register a CAGR of more than 4% over 2018-2024.

Two of the leading behemoths in astaxanthin market, American firm Solix Algredients and Chinese company BGG have recently collaborated to form a new Colorado based ingredient supplier. BGG though boasts of a portfolio of a variety of botanical ingredients, has garnered maximum acclamation for its algae production facility in Yunnan Province.

Another potential contender in astaxanthin market, Nutrex Hawaii, Inc. has recently made to the front page with the news of its breakthrough products, MD Formulas™ and BioAstin® Hawaiian Astaxanthin®, to have received IGEN (The International GMO Evaluation and Notification Program™) verification.

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In what may be touted as an attempt in sync with global sustainability march, Iceland based astaxanthin industry firm, Algalif recently made an official declaration of emphasizing more on sustainable growth and research-based algae cultivation.

Analyzing the above trends, it is undeniable that sustainability and environmental viability are two of the top-notch parameters underlining the strategic landscape of astaxanthin industry. Regional governments along with renowned regulatory authorities have enforced various directives, the compliance of which, is a major factor influencing the astaxanthin production.

In a recent turn of events, the Natural Algae Astaxanthin Association (NAXA) has recently filed a citizen’s petition, seeking regulatory action by FDA against a synthetic formulation of astaxanthin being marketed by Cardax. Reportedly, the petition that was filed with US FDA, has requested the agency to analyze the regulatory status of Cardax’s astaxanthin ingredient. NAXA’s allegation revolved around Cardax’s products not falling under the category of a legal dietary ingredient. For the record, FDA’s say on the matter is still not revealed.

Driven by a regulatory-influenced and somewhat driven approach of this industry, manufacturers are constantly integrating advanced cultivation, drying, and extraction technologies in natural variants production that ensure high quality yield, minimal wastage, and above all health and environmental viability. In this regard, an emerging trend regarding which astaxanthin market players are highly optimistic about is sealed microalgae cultivation.

The approach ensures a considerable reduction of entrapment risk of microbial contaminations, foreign substances, and agricultural residues. With these product innovations in the pipeline, the commercialization matrix of astaxanthin industry is likely to expand robustly in the coming years. Global Market Insights, Inc. forecasts the worldwide astaxanthin market to surpass a revenue of USD 800 million by 2024.

Partial Report Content:

1.1. Methodology

1.1.1.  Initial data exploration

1.1.2.  Statistical model and forecast

1.1.3.  Industry insights and validation

1.1.4.  Scope, definition and forecast parameters

1.2. Data Sources

1.2.1.  Primary

1.2.2.  Secondary

Chapter 2. Executive Summary

2.1. Astaxanthin industry 3600 synopsis, 2013 - 2024

2.1.1.  Business trends

2.1.2.  Application trends

2.1.3.  Source trends

2.1.4.  Regional trends

Chapter 3. Astaxanthin Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.  Profit margin analysis

3.3.2.  Distribution channel analysis

3.3.2.1.    OEM

3.3.2.2.    Aftermarket

3.3.3.  Vendor matrix

3.4. Regulatory landscape

3.5. Technology landscape (production process)

3.6. Pricing analysis, by region

3.7. Raw material supply trends & prices

3.8. Industry impact forces

3.9. Potential customers for pet &animal feed applications

3.10.       Innovation & sustainability

3.11.       Growth potential analysis, 2017

3.12.       Competitive landscape, 2017

3.13.    Porter's analysis

3.14.       PESTEL analysis

Chapter 4. Astaxanthin Market, By Application

4.1. Global astaxanthin market share by Application, 2017 & 2024

4.2. Dietary supplement

4.3. Personal care

4.4. Pharmaceuticals

4.5. Food & beverage

4.6. Animal feed

Browse Related reports:

Food Minerals Market

https://www.marketwatch.com/press-release/food-minerals-market-regional-trend-analysis-global-industry-report-2019-2025-2019-08-12

Food Antioxidant Market

https://www.marketwatch.com/press-release/food-antioxidant-market-report-by-regional-revenue-growth-forecast-2025-2019-08-12

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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