Meticulous Research®, a leading global market research company, has published a comprehensive report titled "Haematococcus Pluvialis Market by Product (Astaxanthin Ingredients: Oleoresin, Beadlets, Whole Biomass Powder, Water Dispersible Powder; Astaxanthin Bulk Finished Products: Capsules, Tablets); Application (Nutraceuticals, Aquaculture & Animal Feed, Cosmetics, Food & Beverages, Pharmaceuticals); and Geography - Global Forecast to 2030." According to this latest publication, the global Haematococcus Pluvialis market is projected to reach $189.8 million by 2030, with a CAGR of 13.3% from 2023 to 2030. In terms of volume, the market is anticipated to grow to 1,369.9 tons by 2030, at a CAGR of 14.8% over the forecast period.
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The market's growth is driven by an increasing demand for natural astaxanthin in nutraceuticals, heightened awareness of natural food colorants, and a growing preference for clean-label products. However, high production costs pose a significant challenge to market expansion.
Opportunities for market growth are expected to arise from the rising demand for natural astaxanthin in poultry and aquaculture, despite the complexities involved in the production process. Additionally, the burgeoning interest in self-grooming products represents a notable trend in the Haematococcus Pluvialis market.
Explore the In-depth Report:
The report offers a detailed segmentation of the global Haematococcus Pluvialis market by product type, application, and geography. Key segments include:
• Product: Astaxanthin Ingredients (Oleoresin, Beadlets, Whole Biomass Powder, Water Dispersible Powder); Astaxanthin Bulk Finished Products (Capsules/Softgels, Tablets)
• Application: Nutraceuticals, Aquaculture & Animal Feed, Cosmetics, Food & Beverages, Pharmaceuticals
• Geography: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa
Market Insights:
• Product Segment: In 2023, the astaxanthin ingredients segment is expected to hold the largest share, driven by its extensive applications, rising awareness of preventive healthcare, and increasing demand for natural antioxidants in cosmetics and personal care products.
• Application Segment: The nutraceuticals segment is anticipated to dominate the market in 2023, due to the growing demand for natural astaxanthin for its potential health benefits across various diseases.
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• Geographical Segment: North America is projected to lead the market in 2023, supported by the rising demand for natural food supplements and increased awareness of the negative impacts of chemical products. Awareness programs, such as those by the Natural Algae Astaxanthin Association (NAXA), further bolster market growth in this region.
Competitive Landscape:
The Haematococcus Pluvialis market is moderately competitive, featuring numerous global, regional, and local players. Prominent companies include: E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India), Cyanotech Corporation (U.S.), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (Yunnan Spirin Biotechnology Co. Ltd) (China), Sun Chlorella Corporation (Japan), Roquette Klötze GmbH & Co. KG (Germany), Tianjin Norland Biotech Co., Ltd (China), Aliga Microalgae (Denmark), DAESANG Corporation (Korea), Plankton Australia Pty Limited (Australia), Shaanxi Rebecca Bio-Tech Co., Ltd (China), BlueBioTech Group (Germany), Algatechnologies Ltd. (A Part of Solabia Group) (Israel), AstaReal Group (Japan), Yunnan Alphy Biotech Co.,Ltd (China), Beijing Gingko Group (BGG) (U.S.), FENCHEM (China), PIVEG, Inc. (U.S.), Algamo s.r.o. (Czech Republic), Algalíf Iceland ehf. (Part of Sana Pharma Industries) (Iceland), Atacama Bio Natural Products S.A. (Chile), BDI BioLife Science GmbH (Austria), AstaMAZ NZ LTD (New Zealand), FjordAlg AS (Norway), Sea & Sun Organic GmbH (Subsidiary of Sea & Sun Technology GmbH) (Germany), MC Biotech Sdn. Bhd. (Brunei Darussalam), Pond Technologies Inc. (Canada), Algicel, Biotecnologia e Investigação, Lda (Portugal), Algae to Omega, LLC (U.S.), Shaivaa Algaetech LLP (India), and Astaxa GmbH (Germany).
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