COVID-19 Pandemic Hurts Global Astaxanthin Market - Astaxanthin Supplements Sales to Decline in 2020

Industry Experts, Inc. released an updated 2020 version of the comprehensive global market report on Astaxanthin. The report entitled "Global Astaxanthin Market – Sources, Technologies and Applications" reveals that the consumer spending on other single vitamin and dietary supplements including Astaxanthin supplements has drastically reduced during the first half of 2020. Astaxanthin supplement sales were lower due to the closure of retail stores across the globe, partially offset by the increased sales on e-commerce channels. The situation is somewhat normalized during the second half of 2020, but still consumer spending on Astaxanthin supplements is expected to be lower than the normal.

The impact of COVID-19 pandemic on astaxanthin demand is expected to differ in intensity depending on their end-use application and region. Sharpest declines would be expected in astaxanthin for dietary supplements, cosmetics and aqua feed sectors. Demand for astaxanthin in poultry feed and food & beverages, although less than the normal growth, is expected to be somewhat better compared to other applications.

Volume consumption of Astaxanthin in Asia-Pacific is slated to post the fastest corresponding period CAGR and reach a projected 90 metric tons by 2026. Impacted by COVID-19 pandemic, demand for astaxanthin across the globe is forecast to decline in 2020, with North America being hit hardest by the pandemic registering a negative YOY growth of 9.7%, followed by South America, Japan and Asia-Pacific in 2020 compared to 2019.

The report reviews, analyses and projects the Astaxanthin market for the period 2017-2026 globally, and the regional markets including North America, Europe, Japan, Asia-Pacific (excluding Japan), South America and Rest of World. The market, mainly for synthetic astaxanthin, is illustrated broadly by major countries in North America – the United States, Canada and Mexico; Europe – Norway, the United Kingdom and Rest of Europe; Japan; Asia-Pacific – China, Australia & New Zealand and Rest of Asia-Pacific. The market for Microalgae (Haematococcus pluvialis) Astaxanthin's applications is analyzed in this study across all major regions.

Astaxanthin products analyzed in this study include Synthetic Astaxanthin, Haematococcus pluvialis Microalgae Astaxanthin and Astaxanthin-rich Paracoccus bacteria. End-use application markets covered in the report are Aqua & Animal Feed, Nutraceuticals, Cosmetics and Food & Beverages. The report also provides a special focus on various astaxanthin production technologies employed by key market players, including Chemical Synthesis; Microalgae Cultivation, Harvesting, Drying and Astaxanthin Extraction; and Bacteria Fermentation.

This 287 page study includes 128 charts (includes a data table and graphical representation for each table), supported with meaningful and easy to understand graphical presentation, of the market numbers. This report profiles 59 key market players segmented by synthetic astaxanthin manufacturers – 6; natural source astaxanthin manufacturers including subsidiaries – 42; and algae astaxanthin technology & equipment providers – 11. The report also provides the listing of the companies engaged in research & development, manufacturing and supply of astaxanthin, as well as technology and equipment providers. The global list of companies covers the address, contact numbers and the website addresses of 69 companies.

California based Industry Experts, Inc. is a multi-industry focused business information provider.

For more details, please visit: https://industry-experts.com/verticals/healthcare-and-pharma/global-astaxanthin-market-sources-technologies-and-applications