The Astaxanthin Market size was USD 1921.5 million in 2022 and is expected to Reach USD 6747.2 million by 2030 and grow at a CAGR of 17% over the forecast period of 2023-2030.
Astaxanthin is a naturally occurring red-colored ketocarotenoid that exists in microalgae and yeast. It is mostly found in the algae Haematococcus pluvialis and the yeast Xanthophyllomyces dendrorhous. Astaxanthin has a wide range of applications, in dietary supplements, aquaculture feed additives, and the cosmetic sector.
Based on Application, the animal feed & aquaculture segment dominated the astaxanthin market, and it is growing at a CAGR of 46% over the forecast period. Aquaculture and animal feed have the largest market share due to the widespread usage of astaxanthin as an animal feed. When compared to current food supplements, natural astaxanthin has superior antioxidant effects. The demand for these products is increasing in the aquaculture sector and improving seafood quality drives the growth of the astaxanthin market.
KEY DRIVERS
Health Benefits of Astaxanthin
Astaxanthin contains strong UV-blocking characteristics, which help protect our skin from sun damage. It also helps to reduce wrinkles and improve skin moisture levels. Natural forms of astaxanthin assist in blocking inflammatory COX2 enzymes while also decreasing serum levels of interleukin 1B, C Reactive Protein, nitric oxide, TNF-alpha (tumor necrosis factor-alpha), and prostaglandin E2. Astaxanthin is used to treat breast cancer by reducing the proliferation of breast cancer cells. Astaxanthin can improve endurance and fatigue levels after exercise, as well as increase the body's fatty acid consumption, which helps prevent muscular and skeletal damage. The rising awareness of the health benefits of astaxanthin drives the growth.
Increased demand for the cosmetics industry
RESTRAIN
Lack of research and development activity
Astaxanthin is a relatively new substance, and many health advantages are not known yet. More research activities are required to confirm current findings and to investigate other areas of possible benefit. Also, further research is required to discover new and innovative methods of producing and delivering astaxanthin to consumers. A dearth of R&D effort in the astaxanthin market is also impeding its entry into new markets.
OPPORTUNITY
Government support for aquaculture
Aquaculture is the main industry expected to drive the astaxanthin market forward. This initiative gives producers the flexibility and support they need to build the aqua feed sector and expand globally. The aquaculture market is expanding as a result of government initiatives in developing countries around the world. In India, the Ministry of Agriculture is in charge of funding, planning, and monitoring aquacultures and fisheries across the country through government development plans. It allows the aquaculture market to focus on the expansion of aquaculture sectors, to increase production. It employs a distributed strategy to assist the double farmer's income.
CHALLENGES
Adulteration of astaxanthin
Astaxanthin is frequently contaminated because it is an expensive component. Products containing astaxanthin that have been tampered with substances may include synthetic astaxanthin, which is less bioavailable than genuine astaxanthin. Clean-label rules are intended to stop businesses from labeling their products misleadingly or deceptively. As part of this, a product must list all of its contents, including any artificial colors, flavors, or preservatives. Customers are seeking transparency from astaxanthin producers as they become more aware of the issue of adulteration in the astaxanthin industry.
Stringent government rules
The Russian-Ukraine war had a significant impact on the astaxanthin market. A significant portion of the world's astaxanthin supply, or roughly 40%, is produced in Russia and Ukraine. Due to the war's disruption of the astaxanthin supply coming from Russia and Ukraine, prices have increased and there are now shortages. Since the start of the war, astaxanthin prices have increased by 30% to 50% due to shortages of the supplements in some markets. Some astaxanthin producers were compelled to scale back or stop their operations completely. The war is predicted to result in a 10%–20% decrease in the astaxanthin supply worldwide.
The COVID-19 pandemic and the Russian-Ukraine war have impacted the astaxanthin supply chain, resulting in higher pricing and shortages. Astaxanthin is a rather expensive ingredient, and during a recession, consumers may be less likely to spend money on astaxanthin products. According to a Consumer Goods Industry Association survey, consumer expenditure on expensive items like nutritional supplements tends to fall in recession. Astaxanthin is an expensive item, and demand for astaxanthin products is expected to fall. In some markets, sales of astaxanthin supplements fell by 10% to 20%. This is most likely owing to a combination of circumstances, including a lack of conclusive evidence of its health advantages and the expensive cost of astaxanthin products.
by Form
Liquid
Dry
by Source
Natural
Synthetic
by Method of Production
Fermentation
Chemical Synthesis
Extraction
Microalgae Cultivation
by Application
Dietary Supplement
Food and Beverages
Cosmetics
Nutraceuticals
Aquaculture & Animal Feed
other
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North America dominated the market in 2022, accounting for 39% of total revenue. One of the major causes driving astaxanthin demand in food products is the rising prevalence of nutrition and skin-related disorders in this region. Furthermore, a significant number of health-conscious consumers, an increase in nutraceutical use, and a well-established cosmetic sector are some of the primary factors fueling market expansion in the region.
The Asia Pacific region is the fastest-growing region for the astaxanthin market at the highest CAGR. New projects of aquaculture development and cosmetic industries in countries such as China, India, and others are driving the market growth. The aquaculture industry is growing rapidly, and astaxanthin is used as a feed additive to improve the health and well-being of farmed fish and seafood. The cosmetics industry in Asia Pacific is also growing rapidly, and astaxanthin is used in a variety of skincare products due to its antioxidant and anti-aging properties.
Europe held a market revenue share of 33% in 2022. The increased demand for astaxanthin in the aquaculture industries and nutraceuticals drives growth in the European area and is likely to develop at a moderate rate. Although Europe's aquaculture industry is growing slowly, astaxanthin is still utilized as a feed ingredient to boost the health and well-being of farmed fish and shellfish. The European nutraceutical business is expanding rapidly, and astaxanthin is used in a range of dietary supplements owing to its alleged health benefits.
REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some major key players in the Astaxanthin Market are Algatech Ltd, Algorigin, MicroA, Cyanotech Corporation, Algalíf Iceland ehf, Beijing Gingko Group (BGG), ENEOS Corporation, Fuji Chemical Industries Co., Ltd, Cardax, Inc., Solgar Inc., Atacama Bio Natural Products S.A., PIVEG, Inc., E.I.D. – Parry Ltd, and other key players.
In 2023, Solabia-Algatech Nutrition Ltd. unveiled two new delivery forms utilizing its AstaPure astaxanthin components at the Vitafoods Europe trade event in Geneva, Switzerland. A vegan gummy and a powder that dissolves in cold water are the two new forms.
In 2022, Solabia-Algatech introduced Astaxanthin Gummies made with Vitamin C, a natural and preservative-free alternative. These candies provide a robust 4 mg dose of astaxanthin algal complexes per serving, making it easy and fun for customers to include this important element into their daily routine.
In 2022, Divi's Nutraceuticals and Algalif announced a collaboration to bring high-concentration astaxanthin beadlets to market. This collaboration combines the expertise of both firms to create a game-changing solution that provides a concentrated convenient version of astaxanthin.
| Report Attributes | Details |
| Market Size in 2022 | US$ 1921.5 Million |
| Market Size by 2030 | US$ 6747.2 Million |
| CAGR | CAGR of 17 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Form (Liquid and Dry) • By Source (Natural and Synthetic) • By Method of Production (Fermentation, Chemical Synthesis, Extraction, and Microalgae Cultivation) • By Application (Dietary Supplement, Food and Beverages, Cosmetics, Nutraceuticals, Aquaculture & Animal Feed, and other) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Algatech Ltd, Algorigin, MicroA, Cyanotech Corporation, Algalíf Iceland ehf, Beijing Gingko Group (BGG), ENEOS Corporation, Fuji Chemical Industries Co., Ltd, Cardax, Inc., Solgar Inc., Atacama Bio Natural Products S.A., PIVEG, Inc., E.I.D. – Parry Ltd |
| Key Drivers | • Health Benefits of Astaxanthin • Increased demand for the cosmetics industry |
| Market Restrain | • Lack of research and development activity |
Ans: Astaxanthin Market is anticipated to expand by 17% from 2023 to 2030.
Ans: Astaxanthin Market size was valued at USD 1921.5 million in 2022
Ans: Growing health benefits of Astaxanthin and increased use in the cosmetic industry drive the Astaxanthin Market.
Ans: North America region dominates the Astaxanthin Market in 2022
Ans: Adulteration of astaxanthin and stringent government rules are the challenges of the Astaxanthin Market.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on Major Economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Astaxanthin Market Segmentation, by Form
8.1 Liquid
8.2 Dry
9. Astaxanthin Market Segmentation, by Source
9.1 Natural
9.2 Synthetic
10. Astaxanthin Market Segmentation, by Method of Production
10.1 Fermentation
10.2 Chemical Synthesis
10.3 Extraction
10.4 Microalgae Cultivation
11. Astaxanthin Market Segmentation, by Application
11.1 Dietary Supplement
11.2 Food and Beverages
11.3 Cosmetics
11.4 Nutraceuticals
11.5 Aquaculture & Animal Feed
11.6 Other
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Astaxanthin Market by Country
12.2.2 North America Astaxanthin Market by Form
12.2.3 North America Astaxanthin Market by Source
12.2.4 North America Astaxanthin Market by Method of Production
12.2.5 North America Astaxanthin Market by Application
12.2.6 USA
12.2.6.1 USA Astaxanthin Market by Form
12.2.6.2 USA Astaxanthin Market by Source
12.2.6.3 USA Astaxanthin Market by Method of Production
12.2.6.4 USA Astaxanthin Market by Application
12.2.7 Canada
12.2.7.1 Canada Astaxanthin Market by Form
12.2.7.2 Canada Astaxanthin Market by Source
12.2.7.3 Canada Astaxanthin Market by Method of Production
12.2.7.4 Canada Astaxanthin Market by Application
12.2.8 Mexico
12.2.8.1 Mexico Astaxanthin Market by Form
12.2.8.2 Mexico Astaxanthin Market by Source
12.2.8.3 Mexico Astaxanthin Market by Method of Production
12.2.8.4 Mexico Astaxanthin Market by Application
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Eastern Europe Astaxanthin Market by Country
12.3.1.2 Eastern Europe Astaxanthin Market by Form
12.3.1.3 Eastern Europe Astaxanthin Market by Source
12.3.1.4 Eastern Europe Astaxanthin Market by Method of Production
12.3.1.5 Eastern Europe Astaxanthin Market by Application
12.3.1.6 Poland
12.3.1.6.1 Poland Astaxanthin Market by Form
12.3.1.6.2 Poland Astaxanthin Market by Source
12.3.1.6.3 Poland Astaxanthin Market by Method of Production
12.3.1.6.4 Poland Astaxanthin Market by Application
12.3.1.7 Romania
12.3.1.7.1 Romania Astaxanthin Market by Form
12.3.1.7.2 Romania Astaxanthin Market by Source
12.3.1.7.3 Romania Astaxanthin Market by Method of Production
12.3.1.7.4 Romania Astaxanthin Market by Application
12.3.1.8 Hungary
12.3.1.8.1 Hungary Astaxanthin Market by Form
12.3.1.8.2 Hungary Astaxanthin Market by Source
12.3.1.8.3 Hungary Astaxanthin Market by Method of Production
12.3.1.8.4 Hungary Astaxanthin Market by Application
12.3.1.9 Turkey
12.3.1.9.1 Turkey Astaxanthin Market by Form
12.3.1.9.2 Turkey Astaxanthin Market by Source
12.3.1.9.3 Turkey Astaxanthin Market by Method of Production
12.3.1.9.4 Turkey Astaxanthin Market by Application
12.3.1.10 Rest of Eastern Europe
12.3.1.10.1 Rest of Eastern Europe Astaxanthin Market by Form
12.3.1.10.2 Rest of Eastern Europe Astaxanthin Market by Source
12.3.1.10.3 Rest of Eastern Europe Astaxanthin Market by Method of Production
12.3.1.10.4 Rest of Eastern Europe Astaxanthin Market by Application
12.3.2 Western Europe
12.3.2.1 Western Europe Astaxanthin Market by Country
12.3.2.2 Western Europe Astaxanthin Market by Form
12.3.2.3 Western Europe Astaxanthin Market by Source
12.3.2.4 Western Europe Astaxanthin Market by Method of Production
12.3.2.5 Western Europe Astaxanthin Market by Application
12.3.2.6 Germany
12.3.2.6.1 Germany Astaxanthin Market by Form
12.3.2.6.2 Germany Astaxanthin Market by Source
12.3.2.6.3 Germany Astaxanthin Market by Method of Production
12.3.2.6.4 Germany Astaxanthin Market by Application
12.3.2.7 France
12.3.2.7.1 France Astaxanthin Market by Form
12.3.2.7.2 France Astaxanthin Market by Source
12.3.2.7.3 France Astaxanthin Market by Method of Production
12.3.2.7.4 France Astaxanthin Market by Application
12.3.2.8 UK
12.3.2.8.1 UK Astaxanthin Market by Form
12.3.2.8.2 UK Astaxanthin Market by Source
12.3.2.8.3 UK Astaxanthin Market by Method of Production
12.3.2.8.4 UK Astaxanthin Market by Application
12.3.2.9 Italy
12.3.2.9.1 Italy Astaxanthin Market by Form
12.3.2.9.2 Italy Astaxanthin Market by Source
12.3.2.9.3 Italy Astaxanthin Market by Method of Production
12.3.2.9.4 Italy Astaxanthin Market by Application
12.3.2.10 Spain
12.3.2.10.1 Spain Astaxanthin Market by Form
12.3.2.10.2 Spain Astaxanthin Market by Source
12.3.2.10.3 Spain Astaxanthin Market by Method of Production
12.3.2.10.4 Spain Astaxanthin Market by Application
12.3.2.11 Netherlands
12.3.2.11.1 Netherlands Astaxanthin Market by Form
12.3.2.11.2 Netherlands Astaxanthin Market by Source
12.3.2.11.3 Netherlands Astaxanthin Market by Method of Production
12.3.2.11.4 Netherlands Astaxanthin Market by Application
12.3.2.12 Switzerland
12.3.2.12.1 Switzerland Astaxanthin Market by Form
12.3.2.12.2 Switzerland Astaxanthin Market by Source
12.3.2.12.3 Switzerland Astaxanthin Market by Method of Production
12.3.2.12.4 Switzerland Astaxanthin Market by Application
12.3.2.13 Austria
12.3.2.13.1 Austria Astaxanthin Market by Form
12.3.2.13.2 Austria Astaxanthin Market by Source
12.3.2.13.3 Austria Astaxanthin Market by Method of Production
12.3.2.13.4 Austria Astaxanthin Market by Application
12.3.2.14 Rest of Western Europe
12.3.2.14.1 Rest of Western Europe Astaxanthin Market by Form
12.3.2.14.2 Rest of Western Europe Astaxanthin Market by Source
12.3.2.14.3 Rest of Western Europe Astaxanthin Market by Method of Production
12.3.2.14.4 Rest of Western Europe Astaxanthin Market by Application
12.4 Asia-Pacific
12.4.1 Asia Pacific Astaxanthin Market by Country
12.4.2 Asia Pacific Astaxanthin Market by Form
12.4.3 Asia Pacific Astaxanthin Market by Source
12.4.4 Asia Pacific Astaxanthin Market by Method of Production
12.4.5 Asia Pacific Astaxanthin Market by Application
12.4.6 China
12.4.6.1 China Astaxanthin Market by Form
12.4.6.2 China Astaxanthin Market by Source
12.4.6.3 China Astaxanthin Market by Method of Production
12.4.6.4 China Astaxanthin Market by Application
12.4.7 India
12.4.7.1 India Astaxanthin Market by Form
12.4.7.2 India Astaxanthin Market by Source
12.4.7.3 India Astaxanthin Market by Method of Production
12.4.7.4 India Astaxanthin Market by Application
12.4.8 Japan
12.4.8.1 Japan Astaxanthin Market by Form
12.4.8.2 Japan Astaxanthin Market by Source
12.4.8.3 Japan Astaxanthin Market by Method of Production
12.4.8.4 Japan Astaxanthin Market by Application
12.4.9 South Korea
12.4.9.1 South Korea Astaxanthin Market by Form
12.4.9.2 South Korea Astaxanthin Market by Source
12.4.9.3 South Korea Astaxanthin Market by Method of Production
12.4.9.4 South Korea Astaxanthin Market by Application
12.4.10 Vietnam
12.4.10.1 Vietnam Astaxanthin Market by Form
12.4.10.2 Vietnam Astaxanthin Market by Source
12.4.10.3 Vietnam Astaxanthin Market by Method of Production
12.4.10.4 Vietnam Astaxanthin Market by Application
12.4.11 Singapore
12.4.11.1 Singapore Astaxanthin Market by Form
12.4.11.2 Singapore Astaxanthin Market by Source
12.4.11.3 Singapore Astaxanthin Market by Method of Production
12.4.11.4 Singapore Astaxanthin Market by Application
12.4.12 Australia
12.4.12.1 Australia Astaxanthin Market by Form
12.4.12.2 Australia Astaxanthin Market by Source
12.4.12.3 Australia Astaxanthin Market by Method of Production
12.4.12.4 Australia Astaxanthin Market by Application
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Astaxanthin Market by Form
12.4.13.2 Rest of Asia-Pacific Astaxanthin Market by Source
12.4.13.3 Rest of Asia-Pacific Astaxanthin Market by Method of Production
12.4.13.4 Rest of Asia-Pacific Astaxanthin Market by Application
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 Middle East Astaxanthin Market by Country
12.5.1.2 Middle East Astaxanthin Market by Form
12.5.1.3 Middle East Astaxanthin Market by Source
12.5.1.4 Middle East Astaxanthin Market by Method of Production
12.5.1.5 Middle East Astaxanthin Market by Application
12.5.1.6 UAE
12.5.1.6.1 UAE Astaxanthin Market by Form
12.5.1.6.2 UAE Astaxanthin Market by Source
12.5.1.6.3 UAE Astaxanthin Market by Method of Production
12.5.1.6.4 UAE Astaxanthin Market by Application
12.5.1.7 Egypt
12.5.1.7.1 Egypt Astaxanthin Market by Form
12.5.1.7.2 Egypt Astaxanthin Market by Source
12.5.1.7.3 Egypt Astaxanthin Market by Method of Production
12.5.1.7.4 Egypt Astaxanthin Market by Application
12.5.1.8 Saudi Arabia
12.5.1.8.1 Saudi Arabia Astaxanthin Market by Form
12.5.1.8.2 Saudi Arabia Astaxanthin Market by Source
12.5.1.8.3 Saudi Arabia Astaxanthin Market by Method of Production
12.5.1.8.4 Saudi Arabia Astaxanthin Market by Application
12.5.1.9 Qatar
12.5.1.9.1 Qatar Astaxanthin Market by Form
12.5.1.9.2 Qatar Astaxanthin Market by Source
12.5.1.9.3 Qatar Astaxanthin Market by Method of Production
12.5.1.9.4 Qatar Astaxanthin Market by Application
12.5.1.10 Rest of Middle East
12.5.1.10.1 Rest of Middle East Astaxanthin Market by Form
12.5.1.10.2 Rest of Middle East Astaxanthin Market by Source
12.5.1.10.3 Rest of Middle East Astaxanthin Market by Method of Production
12.5.1.10.4 Rest of Middle East Astaxanthin Market by Application
12.5.2. Africa
12.5.2.1 Africa Astaxanthin Market by Country
12.5.2.2 Africa Astaxanthin Market by Form
12.5.2.3 Africa Astaxanthin Market by Source
12.5.2.4 Africa Astaxanthin Market by Method of Production
12.5.2.5 Africa Astaxanthin Market by Application
12.5.2.6 Nigeria
12.5.2.6.1 Nigeria Astaxanthin Market by Form
12.5.2.6.2 Nigeria Astaxanthin Market by Source
12.5.2.6.3 Nigeria Astaxanthin Market by Method of Production
12.5.2.6.4 Nigeria Astaxanthin Market by Application
12.5.2.7 South Africa
12.5.2.7.1 South Africa Astaxanthin Market by Form
12.5.2.7.2 South Africa Astaxanthin Market by Source
12.5.2.7.3 South Africa Astaxanthin Market by Method of Production
12.5.2.7.4 South Africa Astaxanthin Market by Application
12.5.2.8 Rest of Africa
12.5.2.8.1 Rest of Africa Astaxanthin Market by Form
12.5.2.8.2 Rest of Africa Astaxanthin Market by Source
12.5.2.8.3 Rest of Africa Astaxanthin Market by Method of Production
12.5.2.8.4 Rest of Africa Astaxanthin Market by Application
12.6. Latin America
12.6.1 Latin America Astaxanthin Market by Country
12.6.2 Latin America Astaxanthin Market by Form
12.6.3 Latin America Astaxanthin Market by Source
12.6.4 Latin America Astaxanthin Market by Method of Production
12.6.5 Latin America Astaxanthin Market by Application
12.6.6 Brazil
12.6.6.1 Brazil Astaxanthin Market by Form
12.6.6.2 Brazil Astaxanthin Market by Source
12.6.6.3 Brazil Astaxanthin Market by Method of Production
12.6.6.4 Brazil Astaxanthin Market by Application
12.6.7 Argentina
12.6.7.1 Argentina Astaxanthin Market by Form
12.6.7.2 Argentina Astaxanthin Market by Source
12.6.7.3 Argentina Astaxanthin Market by Method of Production
12.6.7.4 Argentina Astaxanthin Market by Application
12.6.8 Colombia
12.6.8.1 Colombia Astaxanthin Market by Form
12.6.8.2 Colombia Astaxanthin Market by Source
12.6.8.3 Colombia Astaxanthin Market by Method of Production
12.6.8.4 Colombia Astaxanthin Market by Application
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Astaxanthin Market by Form
12.6.9.2 Rest of Latin America Astaxanthin Market by Source
12.6.9.3 Rest of Latin America Astaxanthin Market by Method of Production
12.6.9.4 Rest of Latin America Astaxanthin Market by Application
13. Company Profile
13.1 Algatech Ltd
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Algorigin
13.2.1 Company Overview
13.2.2 Financials
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 MicroA
13.3.1 Company Overview
13.3.2 Financials
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Cyanotech Corporation
13.4 Company Overview
13.4.2 Financials
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Algalíf Iceland ehf
13.5.1 Company Overview
13.5.2 Financials
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Beijing Gingko Group (BGG)
13.6.1 Company Overview
13.6.2 Financials
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 ENEOS Corporation
13.7.1 Company Overview
13.7.2 Financials
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Fuji Chemical Industries Co. Ltd
13.8.1 Company Overview
13.8.2 Financials
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Cardax Inc.
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Solgar Inc.
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Atacama Bio Natural Products S.A.
13.11.1 Company Overview
13.11.2 Financials
13.11.3 Products/ Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
13.12 PIVEG, Inc.
13.12.1 Company Overview
13.12.2 Financials
13.12.3 Products/ Services Offered
13.12.4 SWOT Analysis
13.12.5 The SNS View
13.13 E.I.D. – Parry Ltd
13.13.1 Company Overview
13.13.2 Financials
13.13.3 Products/ Services Offered
13.13.4 SWOT Analysis
13.13.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
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Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
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The Cheese Powder Market Size was esteemed at USD 603.31 billion out of 2022 and is supposed to arrive at USD 1021 billion by 2030 and develop at a CAGR of 6.8% over the forecast period 2023-2030.
The Food preservatives market is expected to grow from USD 3.47 billion in 2022 to USD 5.30 billion by 2030, at a CAGR of 5.41% from 2023 to 2030.
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