The North America Astaxanthin Market would witness market growth of 14.4% CAGR during the forecast period (2022-2028).
Companies in the nutraceutical industry are drastically rising the production & manufacturing ability and distribution chain to meet the demand for nutraceutical products. Additionally, the rising adoption of enhanced technologies to increase production is anticipated to support the market in expansion. The utilization of new technologies to fulfill the demand without hampering the quality of astaxanthin will eventually increase production.
The affordable technologies which are highly utilized in the production of astaxanthin are photo bioreactor (PBR) and flat panel airlift (FPA). Apart from this, other technologies are an open pond, hybrid, closed microalgae, green technology production systems powered by sunlight, and supercritical carbon dioxide extraction.
To overcome the rising demand in the nutraceutical and pharmaceutical businesses, the market players are extensively looking for enhanced practices and technologies. There will be a new option available soon as a rise in the study of astaxanthin utilization can be witnessed. Several studies have been conducted in the recent past to calculate the ability of astaxanthin in various end-use enterprises.
The customers in the United States and Canada are well aware regarding the concept of “beauty foods” and are highly interested in purchasing products like UV protection and wrinkle smoothing products, which pushes the manufacturers to bring these types of products to market. Moreover, the number of people aged 50 and more is increasing. As the aging population is increasing, there will be a huge demand for nutra-cosmetic products to protect their skin from aging. This will increase the usage of astaxanthin as an ingredient in cosmetics, thereby leading to market growth in this region.
The US market dominated the North America Astaxanthin Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,259.6 million by 2028.The Canada market is poised to grow at a CAGR of 17% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 15.9% during (2022 - 2028).
Based on Product, the market is segmented into Dried Algae Meal Or Biomass, Softgel, Oil, Liquid and Others. Based on Source, the market is segmented into Natural and Synthetic. Based on Natural Type, the market is segmented into Yeast, Microalgae, Krill/Shrimp and Others. Based on Application, the market is segmented into Aquaculture & Animal Feed, Nutraceuticals, Cosmetics, Food and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include E.I.D. Parry Limited (Murugappa Group), Cyanotech Corporation, ENEOS Corporation (Eneos Holdings), Algatech Ltd. (Solabia Group), MicroA AS, Beijing Gingko Group, Algalif Iceland ehf, Piveg, Inc., Fuji Chemical Industries Co., Ltd., and Atacama Bio Natural Products S.A.
Companies in the nutraceutical industry are drastically rising the production & manufacturing ability and distribution chain to meet the demand for nutraceutical products. Additionally, the rising adoption of enhanced technologies to increase production is anticipated to support the market in expansion. The utilization of new technologies to fulfill the demand without hampering the quality of astaxanthin will eventually increase production.
The affordable technologies which are highly utilized in the production of astaxanthin are photo bioreactor (PBR) and flat panel airlift (FPA). Apart from this, other technologies are an open pond, hybrid, closed microalgae, green technology production systems powered by sunlight, and supercritical carbon dioxide extraction.
To overcome the rising demand in the nutraceutical and pharmaceutical businesses, the market players are extensively looking for enhanced practices and technologies. There will be a new option available soon as a rise in the study of astaxanthin utilization can be witnessed. Several studies have been conducted in the recent past to calculate the ability of astaxanthin in various end-use enterprises.
The customers in the United States and Canada are well aware regarding the concept of “beauty foods” and are highly interested in purchasing products like UV protection and wrinkle smoothing products, which pushes the manufacturers to bring these types of products to market. Moreover, the number of people aged 50 and more is increasing. As the aging population is increasing, there will be a huge demand for nutra-cosmetic products to protect their skin from aging. This will increase the usage of astaxanthin as an ingredient in cosmetics, thereby leading to market growth in this region.
The US market dominated the North America Astaxanthin Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,259.6 million by 2028.The Canada market is poised to grow at a CAGR of 17% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 15.9% during (2022 - 2028).
Based on Product, the market is segmented into Dried Algae Meal Or Biomass, Softgel, Oil, Liquid and Others. Based on Source, the market is segmented into Natural and Synthetic. Based on Natural Type, the market is segmented into Yeast, Microalgae, Krill/Shrimp and Others. Based on Application, the market is segmented into Aquaculture & Animal Feed, Nutraceuticals, Cosmetics, Food and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include E.I.D. Parry Limited (Murugappa Group), Cyanotech Corporation, ENEOS Corporation (Eneos Holdings), Algatech Ltd. (Solabia Group), MicroA AS, Beijing Gingko Group, Algalif Iceland ehf, Piveg, Inc., Fuji Chemical Industries Co., Ltd., and Atacama Bio Natural Products S.A.
Scope of the Study
Market Segments Covered in the Report:
By Product
- Dried Algae Meal Or Biomass
- Softgel
- Oil
- Liquid
- Others
By Source
- Natural
- Yeast
- Microalgae
- Krill/Shrimp
- Others
- Synthetic
By Application
- Aquaculture & Animal Feed
- Nutraceuticals
- Cosmetics
- Food
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- E.I.D. Parry Limited (Murugappa Group)
- Cyanotech Corporation
- ENEOS Corporation (Eneos Holdings)
- Algatech Ltd. (Solabia Group)
- MicroA AS
- Beijing Gingko Group
- Algalif Iceland ehf
- Piveg, Inc
- Fuji Chemical Industries Co., Ltd
- Atacama Bio Natural Products S.A
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Astaxanthin Market, by Product
1.4.2 North America Astaxanthin Market, by Source
1.4.3 North America Astaxanthin Market, by Application
1.4.4 North America Astaxanthin Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Astaxanthin Market by Product
3.1 North America Dried Algae Meal Or Biomass Market by Country
3.2 North America Softgel Market by Country
3.3 North America Oil Market by Country
3.4 North America Liquid Market by Country
3.5 North America Others Market by Country
Chapter 4. North America Astaxanthin Market by Source
4.1 North America Natural Market by Country
4.2 North America Astaxanthin Market by Natural Type
4.2.1 North America Yeast Market by Country
4.2.2 North America Microalgae Market by Country
4.2.3 North America Krill/Shrimp Market by Country
4.2.4 North America Others Market by Country
4.3 North America Synthetic Market by Country
Chapter 5. North America Astaxanthin Market by Application
5.1 North America Aquaculture & Animal Feed Market by Country
5.2 North America Nutraceuticals Market by Country
5.3 North America Cosmetics Market by Country
5.4 North America Food Market by Country
5.5 North America Others Market by Country
Chapter 6. North America Astaxanthin Market by Country
6.1 US Astaxanthin Market
6.1.1 US Astaxanthin Market by Product
6.1.2 US Astaxanthin Market by Source
6.1.2.1 US Astaxanthin Market by Natural Type
6.1.3 US Astaxanthin Market by Application
6.2 Canada Astaxanthin Market
6.2.1 Canada Astaxanthin Market by Product
6.2.2 Canada Astaxanthin Market by Source
6.2.2.1 Canada Astaxanthin Market by Natural Type
6.2.3 Canada Astaxanthin Market by Application
6.3 Mexico Astaxanthin Market
6.3.1 Mexico Astaxanthin Market by Product
6.3.2 Mexico Astaxanthin Market by Source
6.3.2.1 Mexico Astaxanthin Market by Natural Type
6.3.3 Mexico Astaxanthin Market by Application
6.4 Rest of North America Astaxanthin Market
6.4.1 Rest of North America Astaxanthin Market by Product
6.4.2 Rest of North America Astaxanthin Market by Source
6.4.2.1 Rest of North America Astaxanthin Market by Natural Type
6.4.3 Rest of North America Astaxanthin Market by Application
Chapter 7. Company Profiles
7.1 E.I.D. Parry Limited (Murugappa Group)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent Strategies and Developments:
7.1.5.1 Acquisitions, Mergers and Joint Ventures:
7.2 Cyanotech Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent Strategies and developments:
7.2.5.1 Product Launches and Product Expansions:
7.3 ENEOS Corporation (Eneos Holdings)
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.4 Algatech Ltd. (Solabia Group)
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Product Launches and Product Expansions:
7.5 MicroA AS
7.5.1 Company Overview
7.6 Beijing Gingko Group
7.6.1 Company Overview
7.7 Algalif Iceland ehf
7.7.1 Company Overview
7.8 Fuji Chemical Industries Co., Ltd.
7.8.1 Company Overview
7.9 Piveg, Inc.
7.9.1 Company Overview
7.10. Atacama Bio Natural Products S.A.
7.10.1 Company Overview
Companies Mentioned
- E.I.D. Parry Limited (Murugappa Group)
- Cyanotech Corporation
- ENEOS Corporation (Eneos Holdings)
- Algatech Ltd. (Solabia Group)
- MicroA AS
- Beijing Gingko Group
- Algalif Iceland ehf
- Piveg, Inc.
- Fuji Chemical Industries Co., Ltd.
- Atacama Bio Natural Products S.A.
Methodology
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