Summary

The astaxanthin market is estimated at USD 647 million in 2021 and is projected to grow at a CAGR of 8.3% to reach USD 965 million by 2026. The growth in the astaxanthin market is attributed to the growing health awareness among consumers, leading to an increase in the adoption of healthier diets. Food safety concerns & adherence to stringent international quality standards and regulations restrain the growth of the astaxanthin market.
“The market for food & beverages, by application, is projected to witness the fastest growth in the market during the forecast period."
The food & beverages segment is expected to record the highest growth rate during the forecast period, which is mainly attributed to the increasing use of natural colorants in food and beverages products. In the food industry, astaxanthin is also used for product storage and for standardizing the color of food products, such as margarine, cheeses, sausages, pasta, and other beverages.

“The synthetic source segment dominated the astaxanthin market in 2020.”
The synthetic segment is projected to dominate the astaxanthin market, as they are easy to extract and have low manufacturing costs. This can be attributed to its low cost of production and high usage in the aquafeed industry. Consumers and manufacturers prefer opting for low-priced synthetic astaxanthin. Developing regions, such as South America and Asia Pacific, are the major contributors to the growth of this market, as affordability and price sensitivity are important aspects for consumers opting for synthetic astaxanthin.


“The dry form segment dominated the astaxanthin market in 2020.”
Growing awareness about storage and handling problems of liquid astaxanthin among food and beverage manufacturers are some of the key factors driving the demand for dry ingredients, subsequently augmenting the growth of the dry astaxanthin market over the next few years. The process with the dry format is a little easier, especially in high-volume manufacturing. The dry form is widely consumed for manufacturing astaxanthin products, such as dietary supplement tablets, capsules, owing to the easy application and various other benefits. For instance, enclosed supplement capsules retain all desired product properties. They eliminate flavor and color variability while providing easy handling and storage, which is difficult with liquid products

“European market is driven by consumer demand for a wide range of food products with functional benefits such as gut health, bone health, immunity, and heart health”.
Europe accounted for a second-largest share of about 32.6% in the global astaxanthin market in 2020 in terms of value. The presence of key synthetic astaxanthin manufacturers and health consciousness among consumers lead Europe’s astaxanthin market. Key market players include Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), and BioReal (Sweden). An increase in livestock production in the region, especially poultry and fisheries, has resulted in an increased demand for astaxanthin in animal feed applications

Break-up of Primaries:
 By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
 By Designation: Managers- 40%, CXOs - 25%, and Executives - 35%
 By Region: Asia Pacific – 30%, North America - 10%, Europe - 50%, RoW – 10%

Leading players profiled in this report:
• Koninklijke DSM N.V. (the Netherlands)
• BASF SE (Germany)
• Cyanotech Corporation (US)
• Otsuka Holdings Co. Ltd. (Japan)
• Divi’s Laboratories Ltd. (India)
• Valensa International (US)
• Fuji Chemical Industries Co. Ltd. (Japan)
• Beijing Gingko Group (China)
• Cardax, Inc. (Denmark)
• Piveg, Inc. (US)
• Fenchem Biotek Ltd. (China)
• Algatech Ltd. (Israel)
• Supreme Biotechnologies (New Zealand)
• Igene Biotechnology Inc. (US)
• Algamo (Czech Republic)
• Biogenic Co., Ltd. (Japan)
• Astamaz NZ Ltd. (New Zealand)
• Algalif (Iceland)
• Algae to Omega (US)
• Algae Health Sciences, Inc. (US)

Research Coverage:
The report segments the astaxanthin market on the basis of sources, forms, methods of production, applications, and regions. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global astaxanthin, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.

Reasons to buy this report:
• To get a comprehensive overview of the astaxanthin market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights about the major countries/regions in which the astaxanthin market is flourishing

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Table of Contents

1 INTRODUCTION 28
1.1 OBJECTIVES OF THE STUDY 28
1.2 MARKET DEFINITION 28
1.3 STUDY SCOPE 29
FIGURE 1 MARKET SEGMENTATION 29
1.3.1 INCLUSIONS AND EXCLUSIONS 30
1.4 REGIONS COVERED 30
1.5 PERIODIZATION CONSIDERED 31
1.6 CURRENCY CONSIDERED 31
TABLE 1 USD EXCHANGE RATES, 2016–2020 32
1.7 VOLUME UNIT CONSIDERED 32
1.8 STAKEHOLDERS 32
1.9 SUMMARY OF CHANGES 33
2 RESEARCH METHODOLOGY 34
2.1 RESEARCH DATA 34
FIGURE 2 ASTAXANTHIN MARKET: RESEARCH DESIGN 34
2.1.1 SECONDARY DATA 35
2.1.1.1 Key data from secondary sources 35
2.1.2 PRIMARY DATA 35
2.1.2.1 Key industry insights 36
2.1.2.2 Breakdown of primary interviews 36
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS BY COMPANY TYPE, DESIGNATION, AND REGION 36
2.2 MARKET SIZE ESTIMATION 37
FIGURE 4 ASTAXANTHIN MARKET SIZE ESTIMATION – SUPPLY SIDE (1/2) 38
FIGURE 5 ASTAXANTHIN MARKET SIZE ESTIMATION – SUPPLY SIDE (2/2) 38
FIGURE 6 ASTAXANTHIN MARKET SIZE ESTIMATION – DEMAND SIDE 39
2.2.1 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH 39
FIGURE 7 ASTAXANTHIN MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH 40
2.2.2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 41
FIGURE 8 ASTAXANTHIN MARKET SIZE ESTIMATION: TOP-DOWN APPROACH 41
2.3 DATA TRIANGULATION 42
FIGURE 9 DATA TRIANGULATION 42
2.4 ASSUMPTIONS FOR THE STUDY 43
2.5 RESEARCH LIMITATIONS & ASSOCIATED RISKS 44
2.6 MARKET SCENARIOS CONSIDERED FOR THE IMPACT OF COVID-19 44
2.6.1 SCENARIO-BASED MODELING 45
2.7 COVID-19 HEALTH ASSESSMENT 45
FIGURE 10 COVID-19: GLOBAL PROPAGATION 45
FIGURE 11 COVID-19 PROPAGATION: SELECT COUNTRIES 46
2.8 COVID-19 ECONOMIC ASSESSMENT 47
FIGURE 12 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020 47
2.8.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT 48
FIGURE 13 CRITERIA IMPACTING GLOBAL ECONOMY 48
FIGURE 14 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY 49
3 EXECUTIVE SUMMARY 51
TABLE 2 ASTAXANTHIN MARKET SNAPSHOT, 2021 VS. 2026 52
FIGURE 15 IMPACT OF COVID-19 ON THE ASTAXANTHIN MARKET SIZE, BY SCENARIO, 2020 VS. 2021 (USD MILLION) 52
FIGURE 16 ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021 VS. 2026 (USD MILLION) 53
FIGURE 17 ASTAXANTHIN MARKET SHARE (VALUE), BY FORM, 2021 VS. 2026 54
FIGURE 18 ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021 VS. 2026 (USD MILLION) 54
FIGURE 19 ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2021 VS. 2026 (USD MILLION) 55
FIGURE 20 ASTAXANTHIN MARKET SHARE (VALUE), BY REGION, 2020 55
4 PREMIUM INSIGHTS 57
4.1 ATTRACTIVE OPPORTUNITIES IN THE ASTAXANTHIN MARKET 57
FIGURE 21 GROWING HEALTH AWARENESS REGARDING ANTIOXIDANT PROPERTIES AMONG CONSUMERS TO DRIVE THE DEMAND FOR ASTAXANTHIN 57
4.2 ASTAXANTHIN MARKET, BY KEY COUNTRY 58
FIGURE 22 US TO BE THE FASTEST-GROWING MARKET DURING THE FORECAST PERIOD 58
4.3 ASIA PACIFIC: ASTAXANTHIN MARKET, BY SOURCE & KEY COUNTRY 59
FIGURE 23 SYNTHETIC SEGMENT AND CHINA TO ACCOUNT FOR THE LARGEST SHARES OF THE ASIA PACIFIC MARKET IN 2020 59
4.4 ASTAXANTHIN MARKET, BY APPLICATION & REGION 59
FIGURE 24 FEED APPLICATIONTO DOMINATE THE MARKET ACROSS ASIA PACIFIC IN 2020 59
4.5 ASTAXANTHIN MARKET, BY FORM & REGION 60
FIGURE 25 LIQUID FORM TO BE THE FASTER-GROWING SEGMENT DURING THE FORECAST PERIOD 60
4.6 COVID-19 IMPACT ON THE ASTAXANTHIN MARKET 60
FIGURE 26 CHART OF PRE & POST-COVID SCENARIOS IN THE ASTAXANTHIN MARKET 60
5 MARKET OVERVIEW 61
5.1 INTRODUCTION 61
5.2 MACROECONOMIC INDICATORS 62
5.2.1 DEVELOPMENT IN THE RETAIL INDUSTRY 62
FIGURE 27 RETAIL MARKET SIZE IN INDIA, 2021 (USD BILLION) 62
FIGURE 28 AUSTRALIA: RETAIL SALES OF FUNCTIONAL AND FORTIFIED FOOD PRODUCTS, 2018–2022 (USD MILLION) 63
FIGURE 29 ONLINE RETAIL MARKET SIZE IN INDIA, 2021 (USD BILLION) 63
5.2.2 RISE IN THE NUMBER OF DUAL-INCOME HOUSEHOLDS 64
FIGURE 30 US: EMPLOYMENT STATUS OF PARENTS WITH CHILDREN UNDER 18 YEARS, 2020 64
5.3 MARKET DYNAMICS 65
FIGURE 31 ASTAXANTHIN: MARKET DYNAMICS 65
5.3.1 DRIVERS 65
5.3.1.1 Rising consumer inclination toward preventive healthcare & nutraceuticals 65
FIGURE 32 WORLD HEALTH PER CAPITA EXPENDITURE, 2006-2018 (USD THOUSAND) 66
FIGURE 33 HEALTH EXPENDITURE: US VS. OTHER COUNTRIES, 2006-2018,
(AS PERCENTAGE OF GDP) 66
5.3.1.2 Rapid industrialization of the feed industry 67
FIGURE 34 FEED CONSUMPTION SHARE (VOLUME), BY LIVESTOCK TYPE, 2018 68
5.3.1.3 Increasing demand for cosmetic products 68
FIGURE 35 ANNUAL GROWTH OF THE GLOBAL COSMETIC MARKET (PERCENTAGE),
2010-2019 69
5.3.2 RESTRAINTS 69
5.3.2.1 High cost of production of natural astaxanthin 69
5.3.2.2 Lack of R&D activities in the underdeveloped countries 70
5.3.3 OPPORTUNITIES 70
5.3.3.1 Government initiatives to support aquaculture 70
FIGURE 36 WORLD FISHERIES AND AQUACULTURE PRODUCTION (MILLION TONNES), 2010-2018 71
5.3.3.2 Growing demand for natural antioxidants 71
5.3.3.3 Growing demand for astaxanthin in the pharmaceutical industry 72
5.3.4 CHALLENGES 72
5.3.4.1 Risks associated with adulteration and clean label requirements 72
5.3.4.2 Stringent government regulations in developed countries 72
5.4 IMPACT OF COVID-19 ON THE MARKET DYNAMICS 73
5.4.1 COVID-19 BOOSTS THE DEMAND FOR HIGH-QUALITY AND PREMIUM FOOD & BEVERAGES PRODUCTS 73
5.4.2 COVID-19 IMPACT ON RAW MATERIAL AVAILABILITY AND SUPPLY CHAIN DISRUPTION 74
5.4.3 COVID-19 TO SHIFT THE DEMAND TOWARD PLANT-SOURCED INGREDIENTS 74
6 INDUSTRY TRENDS 75
6.1 INTRODUCTION 75
6.2 SUPPLY CHAIN ANALYSIS 75
FIGURE 37 ASTAXANTHIN MARKET: SUPPLY CHAIN ANALYSIS 75
6.3 ECOSYSTEM 76
FIGURE 38 ASTAXANTHIN: MARKET MAP 76
TABLE 3 ASTAXANTHIN MARKET: ECOSYSTEM 77
6.3.1 UPSTREAM 78
6.3.2 INGREDIENT MANUFACTURERS 78
6.3.3 TECHNOLOGY PROVIDERS 78
6.3.4 END USERS 78
6.3.4.1 Downstream 78
6.3.5 REGULATORY BODIES 78
6.3.6 STARTUPS/EMERGING COMPANIES 79
6.4 VALUE CHAIN ANALYSIS 79
FIGURE 39 ASTAXANTHIN MARKET: VALUE CHAIN ANALYSIS 80
6.5 TECHNOLOGY ANALYSIS 80
6.5.1 ASTAXANTHIN AND MICROENCAPSULATION 80
6.5.2 ASTAXANTHIN AND ROBOTS 81
6.6 PRICING ANALYSIS: ASTAXANTHIN MARKET, BY SOURCE 81
FIGURE 40 PRICING TREND OF THE ASTAXANTHIN, 2016–2020 (USD/TON) 81
6.7 TRENDS/DISRUPTIONS IMPACTING THE CUSTOMER’S BUSINESS 82
FIGURE 41 YC-YCC: REVENUE SHIFT FOR THE ASTAXANTHIN MARKET 82
6.8 PORTER’S FIVE FORCES ANALYSIS 83
TABLE 4 ASTAXANTHIN MARKET: PORTER’S FIVE FORCES ANALYSIS 83
6.8.1 INTENSITY OF COMPETITIVE RIVALRY 83
6.8.2 BARGAINING POWER OF SUPPLIERS 83
6.8.3 BARGAINING POWER OF BUYERS 84
6.8.4 THREAT OF NEW ENTRANTS 84
6.8.5 THREAT OF SUBSTITUTES 84
6.9 PATENT ANALYSIS 84
FIGURE 42 PATENT INSIGHTS (2020) 85
FIGURE 43 LIST OF TOP PATENTS IN THE MARKET FOR THE LAST TEN YEARS 85
TABLE 5 KEY PATENTS PERTAINING TO ASTAXANTHIN, 2020 86
6.10 TRADE ANALYSIS 87
TABLE 6 KEY EXPORTING COUNTRIES WITH EXPORT VALUE OF DIETARY SUPPLEMENTS, 2019 (USD MILLION) 87
FIGURE 44 IMPORT TARIFF OF KEY COUNTRIES ON DIETARY SUPPLEMENTS, 2019 (%) 90
6.11 CASE STUDY ANALYSIS 91
6.11.1 USE CASE 1: TATSEWISE’S AI AND MACHINE LEARNING SOLUTION HELPED MEET THE INCREASING DEMAND 91
6.11.2 USE CASE 2: MINDRIGHT’S BARS HELPED COMBAT MENTAL HEALTH ISSUES 91
6.12 REGULATIONS 92
6.12.1 NORTH AMERICA 92
6.12.1.1 Canada 92
6.12.1.2 US 92
6.12.2 EUROPEAN UNION (EU) 93

7 ASTAXANTHIN MARKET, BY SOURCE 94
7.1 INTRODUCTION 95
FIGURE 45 ASTAXANTHIN MARKET SHARE (VALUE), BY SOURCE, 2021 VS. 2026 96
TABLE 7 ASTAXANTHIN MARKET SIZE, BY SOURCE, 2016–2020 (USD MILLION) 96
TABLE 8 ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021–2026(USD MILLION) 96
TABLE 9 ASTAXANTHIN MARKET SIZE, BY SOURCE, 2016–2020 (TON) 97
TABLE 10 ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021–2026(TON) 97
7.2 NATURAL SOURCE 97
7.2.1 INCREASED PREFERENCE FOR NATURAL PRODUCTS 97
TABLE 11 NATURAL: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 97
TABLE 12 NATURAL: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 98
TABLE 13 NATURAL: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (TON) 98
TABLE 14 NATURAL: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026(TON) 98
TABLE 15 NATURAL: ASTAXANTHIN MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION) 99
TABLE 16 NATURAL: ASTAXANTHIN MARKET SIZE, BY TYPE, 2021–2026(USD MILLION) 99
7.2.2 PLANTS 99
7.2.2.1 Microalgae is a non-conventional source of protein due to its high protein content 99
7.2.3 YEAST & MICROBES 100
7.2.3.1 Use of yeast-produced astaxanthin in poultry, fishery, cosmetic, pharmaceutical, and food 100
7.2.4 MARINE ANIMALS 100
7.2.4.1 Shrimp, krill, salmon, and crustaceans are the major sources of astaxanthin 100
7.3 SYNTHETIC (PETROLEUM) 100
7.3.1 LOWER MANUFACTURING COST OF SYNTHETIC ASTAXANTHIN TO DRIVE THE MARKET GROWTH 100
TABLE 17 SYNTHETIC: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 101
TABLE 18 SYNTHETIC: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 101
TABLE 19 SYNTHETIC: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (TON) 102
TABLE 20 SYNTHETIC: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026(TON) 102
8 ASTAXANTHIN MARKET, BY FORM 103
8.1 INTRODUCTION 104
FIGURE 46 ASTAXANTHIN MARKET SHARE (VALUE), BY FORM, 2021 VS. 2026 104
TABLE 21 ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (USD MILLION) 104
TABLE 22 ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026(USD MILLION) 105
TABLE 23 ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (TON) 105
TABLE 24 ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026(TON) 105

8.2 DRY FORM 105
8.2.1 DRY FORMS ARE MAJORLY USED IN FEED FOOD & BEVERAGES AND COSMETICS 105
TABLE 25 DRY: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION) 106
TABLE 26 DRY: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026(USD MILLION) 106
TABLE 27 DRY: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (TON) 106
TABLE 28 DRY: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026(TON) 107
8.3 LIQUID FORM 107
8.3.1 APPLICATION OF LIQUID ASTAXANTHIN IN SYRUPS AND TEXTURING AGENTS 107
TABLE 29 LIQUID: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION) 107
TABLE 30 LIQUID: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026(USD MILLION) 108
TABLE 31 LIQUID: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (TON) 108
TABLE 32 LIQUID: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026(TON) 108
9 ASTAXANTHIN MARKET, BY METHOD OF PRODUCTION 109
9.1 INTRODUCTION 110
TABLE 33 ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2016–2020 (USD MILLION) 110
TABLE 34 ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2021–2026(USD MILLION) 110
FIGURE 47 ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2021 VS. 2026 (USD MILLION) 111
9.2 CHEMICAL SYNTHESIS 111
9.2.1 CHEMICAL SYNTHESIS OF ASTAXANTHIN MORE ECONOMICAL THAN NATURAL PRODUCTION 111
TABLE 35 CHEMICAL SYNTHESIS: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 112
TABLE 36 CHEMICAL SYNTHESIS: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 112
9.3 MICROALGAE CULTIVATION 112
9.3.1 NATURAL ASTAXANTHIN FROM MICROALGAE IS IN HIGH DEMAND FOR DIETARY SUPPLEMENTS AND FOOD & BEVERAGES 112
TABLE 37 MICROALGAE CULTIVATION: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 113
TABLE 38 MICROALGAE CULTIVATION: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 113
9.4 FERMENTATION 113
9.4.1 ASTAXANTHIN PRODUCED THROUGH FERMENTATION IS WIDELY USED IN AQUACULTURE 113
TABLE 39 FERMENTATION: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 114
TABLE 40 FERMENTATION: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 114
9.5 EXTRACTION 114
9.5.1 EXTRACTION OF ASTAXANTHIN FROM SHRIMP WASTE IS HIGHLY ENERGY CONSUMING AND PRODUCE TOXIC BYPRODUCTS 114
TABLE 41 EXTRACTION: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 115
TABLE 42 EXTRACTION: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 115
10 ASTAXANTHIN MARKET, BY APPLICATION 116
10.1 INTRODUCTION 117
FIGURE 48 ASTAXANTHIN MARKET, BY APPLICATION, 2021 VS. 2026 (USD MILLION) 117
TABLE 43 ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION) 118
TABLE 44 ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2021–2026(USD MILLION) 118
10.2 COVID-19 IMPACT ON THE ASTAXANTHIN MARKET, BY APPLICATION 118
10.2.1 OPTIMISTIC SCENARIO 119
TABLE 45 ASTAXANTHIN MARKET SIZE, BY-APPLICATION, 2018–2021 (USD MILLION) 119
10.2.2 REALISTIC SCENARIO 119
TABLE 46 ASTAXANTHIN MARKET-SIZE, BY APPLICATION, 2018–2021 (USD MILLION) 119
10.2.3 PESSIMISTIC SCENARIO 119
TABLE 47 ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION) 119
10.3 FEED 120
10.3.1 ASTAXANTHIN MARKET FOR ANIMAL FEED FOCUSING MAINLY ON THE SYNTHETIC FORM 120
TABLE 48 FEED: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION) 120
TABLE 49 FEED: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026(USD MILLION) 121
10.4 DIETARY SUPPLEMENTS 121
10.4.1 RISING AWARENESS AMONG CONSUMERS FOR NATURAL HEALTH SUPPLEMENTS FUELING THE MARKET GROWTH 121
TABLE 50 DIETARY SUPPLEMENTS: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 122
TABLE 51 DIETARY SUPPLEMENTS: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 122
10.5 FOOD & BEVERAGES 123
10.5.1 ASTAXANTHIN AIDS IN REDUCING THE RISK OF HEART ATTACK BY INCREASING THE GOOD HDL CHOLESTEROL 123
TABLE 52 FOOD & BEVERAGES: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 123
TABLE 53 FOOD & BEVERAGES: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 124
10.6 COSMETICS 124
10.6.1 ASTAXANTHIN - A POTENT SOURCE OF ANTIOXIDANTS AND VITAMIN A 124
TABLE 54 COSMETICS: ASTAXANTHIN MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 125
TABLE 55 COSMETICS: ASTAXANTHIN MARKET SIZE, BY REGION,
2021–2026(USD MILLION) 125

11 ASTAXANTHIN MARKET, BY REGION 126
11.1 INTRODUCTION 127
TABLE 56 ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION) 127
TABLE 57 ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 127
11.2 COVID-19 IMPACT ON THE ASTAXANTHIN MARKET, BY REGION 128
11.2.1 OPTIMISTIC SCENARIO 128
TABLE 58 OPTIMISTIC SCENARIO: COVID-19 IMPACT ON THE ASTAXANTHIN MARKET SIZE, BY REGION, 2018–2021 (USD MILLION) 128
11.2.2 REALISTIC SCENARIO 129
TABLE 59 REALISTIC SCENARIO: COVID-19 IMPACT ON THE ASTAXANTHIN MARKET SIZE, BY REGION, 2018–2021 (USD MILLION) 129
11.2.3 PESSIMISTIC SCENARIO 129
TABLE 60 PESSIMISTIC SCENARIO: COVID-19 IMPACT ON THE ASTAXANTHIN MARKET, BY REGION, 2018–2021 (USD MILLION) 129
11.3 NORTH AMERICA 129
FIGURE 49 NORTH AMERICAN ASTAXANTHIN MARKET: A SNAPSHOT 130
TABLE 61 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY COUNTRY,
2016–2020 (USD MILLION) 130
TABLE 62 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY COUNTRY,
2021–2026 (USD MILLION) 131
TABLE 63 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY SOURCE,
2016–2020 (USD MILLION) 131
TABLE 64 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY SOURCE,
2021–2026 (USD MILLION) 131
TABLE 65 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY SOURCE,
2016–2020 (TONS) 131
TABLE 66 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY SOURCE,
2021–2026 (TONS) 132
TABLE 67 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY FORM,
2016–2020 (USD MILLION) 132
TABLE 68 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY FORM,
2021–2026 (USD MILLION) 132
TABLE 69 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (TON) 132
TABLE 70 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026 (TON) 133
TABLE 71 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 133
TABLE 72 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 133
TABLE 73 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION, 2016–2020 (USD MILLION) 134
TABLE 74 NORTH AMERICA: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION, 2021–2026 (USD MILLION) 134
11.3.1 US 134
11.3.1.1 Astaxanthin is majorly used for pigmenting salmon, owing to which demand for astaxanthin is high in the US 134
TABLE 75 US: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 135
TABLE 76 US: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 135
11.3.2 CANADA 136
11.3.2.1 The Canadian market has increased the natural color market for food applications in the country 136
TABLE 77 CANADA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 136
TABLE 78 CANADA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 136
11.3.3 MEXICO 137
11.3.3.1 Strong presence of the food & beverage industry has driven the nutraceutical market growth 137
TABLE 79 MEXICO: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 137
TABLE 80 MEXICO: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION) 137
11.4 ASIA PACIFIC 138
FIGURE 50 ASIA PACIFIC: ASTAXANTHIN MARKET SNAPSHOT 139
TABLE 81 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY COUNTRY/REGION,
2016–2020 (USD MILLION) 139
TABLE 82 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY COUNTRY/REGION,
2021–2026 (USD MILLION) 140
TABLE 83 AISA PACIFIC: ASTAXANTHIN MARKET SIZE, BY SOURCE,
2016–2020 (USD MILLION) 140
TABLE 84 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021–2026 (USD MILLION) 140
TABLE 85 AISA PACIFIC: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2016–2020 (TON) 140
TABLE 86 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021–2026 (TON) 141
TABLE 87 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY FORM,
2016–2020 (USD MILLION) 141
TABLE 88 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY FORM,
2021–2026 (USD MILLION) 141
TABLE 89 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (TON) 141
TABLE 90 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026 (TON) 142
TABLE 91 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 142
TABLE 92 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 142
TABLE 93 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION, 2016–2020 (USD MILLION) 143
TABLE 94 ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION, 2021–2026 (USD MILLION) 143
11.4.1 CHINA 143
11.4.1.1 Increasing purchasing power of consumers led to a rise in demand for high-quality processed foods 143
TABLE 95 CHINA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 144
TABLE 96 CHINA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 144
11.4.2 INDIA 144
11.4.2.1 Increasing consumption of poultry meat is leading to a rise in the demand for astaxanthin 144
TABLE 97 INDIA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 145
TABLE 98 INDIA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 145
11.4.3 AUSTRALIA & NEW ZEALAND 145
11.4.3.1 As the aquaculture industry is growing, synthetic astaxanthin demand as a feed additive is also increasing 145
TABLE 99 AUSTRALIA & NEW ZEALAND: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION) 146
TABLE 100 AUSTRALIA & NEW ZEALAND: ASTAXANTHIN MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION) 146
11.4.4 REST OF ASIA PACIFIC 146
11.4.4.1 The emerging market for astaxanthin in the Asia Pacific is due to an increase in consumption of functional foods 146
TABLE 101 REST OF ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 147
TABLE 102 REST OF ASIA PACIFIC: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 147
11.5 EUROPE 147
TABLE 103 EUROPE: ASTAXANTHIN MARKET SIZE, BY COUNTRY,
2016–2020 (USD MILLION) 148
TABLE 104 EUROPE: ASTAXANTHIN MARKET SIZE, BY COUNTRY,
2021–2026 (USD MILLION) 148
TABLE 105 EUROPE: ASTAXANTHIN MARKET SIZE, BY SOURCE,
2016–2020 (USD MILLION) 149
TABLE 106 EUROPE: ASTAXANTHIN MARKET SIZE, BY SOURCE,
2021–2026 (USD MILLION) 149
TABLE 107 EUROPE: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2016–2020 (TON) 149
TABLE 108 EUROPE: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021–2026 (TON) 149
TABLE 109 EUROPE: ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (USD MILLION) 150
TABLE 110 EUROPE: ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026 (USD MILLION) 150
TABLE 111 EUROPE: ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (TON) 150
TABLE 112 EUROPE: ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026 (TON) 150
TABLE 113 EUROPE: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 151
TABLE 114 EUROPE: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 151
TABLE 115 EUROPE: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2016–2020 (USD MILLION) 151
TABLE 116 EUROPE: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2021–2026 (USD MILLION) 152
11.5.1 GERMANY 152
11.5.1.1 Dairy and pork feed consumption driving the demand for astaxanthin 152
TABLE 117 GERMANY: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 152
TABLE 118 GERMANY: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 153
11.5.2 UK 153
11.5.2.1 Increased focus on the food & beverage industry boosts the market growth 153
TABLE 119 UK: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 153
TABLE 120 UK: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 153
11.5.3 FRANCE 154
11.5.3.1 France exports high-quality shellfish to US and shrimp to Japan 154
TABLE 121 FRANCE: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 154
TABLE 122 FRANCE: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 154
11.5.4 ITALY 154
11.5.4.1 High industrial applications in the feed and cosmetic industries 154
TABLE 123 ITALY: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 155
TABLE 124 ITALY: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 155
11.5.5 SPAIN 155
11.5.5.1 Astaxanthin is majorly used as a natural colorant in Spain 155
TABLE 125 SPAIN: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 156
TABLE 126 SPAIN: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 156
11.5.6 REST OF EUROPE 156
TABLE 127 REST OF EUROPE: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 157
TABLE 128 REST OF EUROPE: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 157
11.6 REST OF THE WORLD (ROW) 157
TABLE 129 ROW: ASTAXANTHIN MARKET SIZE, BY REGION, 2016–2020 (USD MILLION) 158
TABLE 130 ROW: ASTAXANTHIN MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 158
TABLE 131 ROW: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2016–2020 (USD MILLION) 158
TABLE 132 ROW: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021–2026 (USD MILLION) 158
TABLE 133 ROW: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2016–2020 (TON) 159
TABLE 134 ROW: ASTAXANTHIN MARKET SIZE, BY SOURCE, 2021–2026 (TON) 159
TABLE 135 ROW: ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (USD MILLION) 159
TABLE 136 ROW: ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026 (USD MILLION) 159
TABLE 137 ROW: ASTAXANTHIN MARKET SIZE, BY FORM, 2016–2020 (TON) 160
TABLE 138 ROW: ASTAXANTHIN MARKET SIZE, BY FORM, 2021–2026 (TON) 160
TABLE 139 ROW: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 160
TABLE 140 ROW: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 160
TABLE 141 ROW: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2016–2020 (USD MILLION) 161
TABLE 142 ROW: ASTAXANTHIN MARKET SIZE, BY METHOD OF PRODUCTION,
2021–2026 (USD MILLION) 161
11.6.1 SOUTH AMERICA 161
11.6.1.1 Increasing industrialization of the aquafeed industry 161
TABLE 143 SOUTH AMERICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 162
TABLE 144 SOUTH AMERICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 162
11.6.2 MIDDLE EAST 162
11.6.2.1 Growth in the natural astaxanthin production due to the presence of key players in the region 162
TABLE 145 MIDDLE EAST: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 163
TABLE 146 MIDDLE EAST: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 163
11.6.3 AFRICA 163
11.6.3.1 Large livestock population is driving the market for astaxanthin 163
TABLE 147 AFRICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2016–2020 (USD MILLION) 164
TABLE 148 AFRICA: ASTAXANTHIN MARKET SIZE, BY APPLICATION,
2021–2026 (USD MILLION) 164
12 COMPETITIVE LANDSCAPE 165
12.1 OVERVIEW 165
12.2 MARKET SHARE ANALYSIS 165
TABLE 149 ASTAXANTHIN MARKET: DEGREE OF COMPETITION 166
12.3 KEY PLAYER STRATEGIES 167
12.4 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS 168
FIGURE 51 FIVE-YEAR SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS IN THE MARKET, 2016–2020 (USD BILLION) 168
12.5 COVID-19-SPECIFIC COMPANY RESPONSE 169
12.5.1 BASF SE 169
12.5.2 CYANOTECH CORPORATION 169
12.5.3 DIVI’S LABORATORIES LTD. 169
12.5.4 COMPANY EVALUATION QUADRANT (KEY PLAYERS) 170
12.5.4.1 Stars 170
12.5.4.2 Emerging leaders 170
12.5.4.3 Pervasive players 170
12.5.4.4 Participants 170
FIGURE 52 ASTAXANTHIN MARKET: COMPANY EVALUATION QUADRANT, 2020
(KEY PLAYERS) 171
12.5.5 PRODUCT FOOTPRINT 172
TABLE 150 COMPANY SOURCE FOOTPRINT 172
TABLE 151 COMPANY APPLICATION FOOTPRINT 172
TABLE 152 COMPANY REGION FOOTPRINT 173
TABLE 153 COMPANY PRODUCT FOOTPRINT 174
12.5.6 COMPETITIVE EVALUATION QUADRANT (OTHER PLAYERS) 175
12.5.6.1 Progressive companies 175
12.5.6.2 Starting blocks 175
12.5.6.3 Responsive companies 175
12.5.6.4 Dynamic companies 175
FIGURE 53 ASTAXANTHIN MARKET: COMPANY EVALUATION QUADRANT, 2020
(OTHER PLAYERS) 176
12.6 PRODUCT LAUNCHES, DEALS, AND OTHER DEVELOPMENTS 177
12.6.1 PRODUCT LAUNCHES 177
TABLE 154 PRODUCT LAUNCHES, AUGUST 2018–OCTOBER 2020 177
12.6.2 DEALS 177
TABLE 155 DEALS, SEPTEMBER 2017–DECEMBER 2020 177
12.6.3 OTHERS 179
TABLE 156 EXPANSIONS, APRIL 2017–NOVEMBER 2018 179
13 COMPANY PROFILES 180
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
13.1 KEY PLAYERS 180
13.1.1 KONINKLIJKE DSM N.V. 180
TABLE 157 KONINKLIJKE DSM N.V.: BUSINESS OVERVIEW 180
FIGURE 54 KONINKLIJKE DSM N.V.: COMPANY SNAPSHOT 181
TABLE 158 KONINKLIJKE DSM N.V.: PRODUCTS OFFERED 181
TABLE 159 ASTAXANTHIN MARKET: DEALS, SEPTEMBER 2017–OCTOBER 2020 182
TABLE 160 ASTAXANTHIN MARKET: OTHERS, APRIL 2017 182
13.1.2 BASF SE 184
TABLE 161 BASF SE: BUSINESS OVERVIEW 184
FIGURE 55 BASF SE: COMPANY SNAPSHOT 185
TABLE 162 BASF SE: PRODUCTS OFFERED 185
TABLE 163 ASTAXANTHIN MARKET: PRODUCT LAUNCHES, AUGUST 2018 186
TABLE 164 ASTAXANTHIN MARKET: DEALS, DECEMBER 2020 186
13.1.3 CYANOTECH CORPORATION 188
TABLE 165 CYANOTECH CORPORATION: BUSINESS OVERVIEW 188
FIGURE 56 CYANOTECH CORPORATION: COMPANY SNAPSHOT 189
TABLE 166 CYANOTECH CORPORATION: PRODUCTS OFFERED 189
TABLE 167 ASTAXANTHIN MARKET: PRODUCT LAUNCHES, OCTOBER 2020 190
TABLE 168 ASTAXANTHIN MARKET: OTHERS, NOVEMBER 2018 190
13.1.4 OTSUKA HOLDINGS CO., LTD. 192
TABLE 169 OTSUKA HOLDINGS CO., LTD.: BUSINESS OVERVIEW 192
FIGURE 57 OTSUKA HOLDINGS CO., LTD.: COMPANY SNAPSHOT 193
TABLE 170 OTSUKA HOLDINGS CO., LTD.: PRODUCTS OFFERED 193
13.1.5 DIVI’S LABORATORIES LTD. 195
TABLE 171 DIVI’S LABORATORIES LTD.: BUSINESS OVERVIEW 195
FIGURE 58 DIVI’S LABORATORIES LTD.: COMPANY SNAPSHOT 195
TABLE 172 DIVI’S LABORATORIES LTD.: PRODUCTS OFFERED 195
13.1.6 VALENSA INTERNATIONAL 197
13.1.6.1 Business overview 197
TABLE 173 VALENSA INTERNATIONAL: BUSINESS OVERVIEW 197
TABLE 174 VALENSA INTERNATIONAL: PRODUCTS OFFERED 197
13.1.7 FUJI CHEMICAL INDUSTRIES CO., LTD. 198
TABLE 175 FUJI CHEMICAL INDUSTRIES CO., LTD.: BUSINESS OVERVIEW 198
TABLE 176 FUJI CHEMICAL INDUSTRIES CO., LTD.: PRODUCTS OFFERED 198
13.1.8 BEIJING GINGKO GROUP 200
TABLE 177 BEIJING GINGKO GROUP: BUSINESS OVERVIEW 200
TABLE 178 BEIJING GINGKO GROUP: PRODUCTS OFFERED 200
13.1.9 CARDAX, INC. 202
TABLE 179 CARDAX, INC.: BUSINESS OVERVIEW 202
FIGURE 59 CARDAX, INC.: COMPANY SNAPSHOT 202
TABLE 180 CARDAX, INC.: PRODUCTS OFFERED 203
TABLE 181 ASTAXANTHIN MARKET: DEALS, FEBRUARY 2018 203
13.1.10 PIVEG, INC. 204
TABLE 182 PIVEG, INC.: BUSINESS OVERVIEW 204
TABLE 183 PIVEG, INC.: PRODUCTS OFFERED 204
13.2 OTHER PLAYERS 205
13.2.1 FENCHEM BIOTEK LTD. 205
TABLE 184 FENCHEM BIOTEK LTD.: BUSINESS OVERVIEW 205
TABLE 185 FENCHEM BIOTEK LTD.: PRODUCTS OFFERED 205
13.2.2 ALGATECH LTD. 207
TABLE 186 ALGATECH LTD.: BUSINESS OVERVIEW 207
TABLE 187 ALGATECH LTD.: PRODUCTS OFFERED 207
TABLE 188 ASTAXANTHIN MARKET: PRODUCT LAUNCHES, MAY 2019 207
TABLE 189 ASTAXANTHIN MARKET: DEALS, MAY 2018–MARCH 2019 208
13.2.3 SUPREME BIOTECHNOLOGIES 209
TABLE 190 SUPREME BIOTECHNOLOGIES: BUSINESS OVERVIEW 209
TABLE 191 SUPREME BIOTECHNOLOGIES: PRODUCTS OFFERED 209
13.2.4 IGENE BIOTECHNOLOGY INC. 210
TABLE 192 IGENE BIOTECHNOLOGY INC.: BUSINESS OVERVIEW 210
TABLE 193 IGENE BIOTECHNOLOGY INC.: PRODUCTS OFFERED 210
13.2.5 ALGAMO 211
TABLE 194 ALGAMO: BUSINESS OVERVIEW 211
TABLE 195 ALGAMO: PRODUCTS OFFERED 211
13.2.6 BIOGENIC CO., LTD. 212
13.2.7 ASTAMAZ NZ LTD. 212
13.2.8 ALGALIF 213
13.2.9 ALGAE TO OMEGA 213
13.2.10 ALGAE HEALTH SCIENCES, INC. 214
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
14 ADJACENT & RELATED MARKETS 215
14.1 INTRODUCTION 215
14.2 LIMITATIONS 215
14.3 CAROTENOIDS MARKET 215
14.3.1 MARKET DEFINITION 215
14.3.2 MARKET OVERVIEW 216
14.3.3 CAROTENOIDS MARKET, BY APPLICATION 216
TABLE 196 CAROTENOIDS MARKET SIZE, BY APPLICATION, 2017–2026 (USD MILLION) 217
TABLE 197 CAROTENOIDS MARKET SIZE, BY APPLICATION, 2017–2026 (TON) 217
14.3.4 CAROTENOIDS MARKET, BY REGION 217
TABLE 198 CAROTENOIDS MARKET SIZE, BY REGION, 2017–2026 (USD MILLION) 218
TABLE 199 CAROTENOIDS MARKET SIZE, BY REGION, 2017–2026 (TON) 218
14.4 FEED PIGMENTS MARKET 218
14.4.1 LIMITATIONS 218
14.4.2 MARKET DEFINITION 219
14.4.3 MARKET OVERVIEW 219
14.4.4 FEED PIGMENTS MARKET, BY TYPE 219
TABLE 200 FEED PIGMENTS MARKET SIZE, BY TYPE, 2013–2020 (USD MILLION) 220
TABLE 201 FEED PIGMENTS MARKET SIZE, BY CAROTENOID TYPE, 2013–2020 (USD MILLION) 220
14.4.5 FEED PIGMENTS MARKET, BY REGION 220
14.4.5.1 Introduction 220
TABLE 202 FEED PIGMENTS MARKET SIZE, BY REGION, 2013–2020 (USD MILLION) 221
TABLE 203 FEED PIGMENTS MARKET SIZE, BY REGION, 2013–2020 (KT) 221
15 APPENDIX 222
15.1 DISCUSSION GUIDE 222
15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 227
15.3 AVAILABLE CUSTOMIZATIONS 229
15.4 RELATED REPORTS 229
15.5 AUTHOR DETAILS 230