(EMAILWIRE.COM, August 02, 2022 ) According to a new market research report titled Haematococcus Pluvialis Market by Product (Astaxanthin Ingredients (Oleoresin, Beadlets), Astaxanthin Bulk Finished Products (Capsules, Tablets)), Application (Food&Beverages, Nutraceuticals, Pharmaceuticals, Cosmetics) and Geography Global Forecast to 2027, published by Meticulous Research® and EABA, the haematococcus pluvialis market is expected to grow at a CAGR of 13.2% from 2020 to 2027 to reach $148.1 million by 2027.
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This report is executed in collaboration with the European Algae Biomass Association (EABA). Combining Meticulous Research® market intelligence services with EABAs broad expertise in the development of research, technology and industrial capacities in the field of algae, the two organizations have leveraged their research capabilities to come up with the most reliable and accurate market assessments in this field.
Astaxanthin is a reddish carotenoid pigment naturally occurring in haematococcus pluvialis micro-algae and causes the pink-red color in salmon, lobster, shrimp, and other seafood. Haematococcus pluvialis astaxanthin’s products are highly used as a dietary supplement owing to its easy availability, coupled with cardiovascular benefits. The product is over 500 times stronger than vitamin E and is much more effective than other carotenoids such as lutein and lycopene. Moreover, astaxanthin’s anti-inflammatory properties derived from haematococcus pluvialis help reduce pain in the muscles, joints, and tendons of patients with chronic arthritis. Furthermore, the increasing prevalence of diabetes, cardiovascular diseases, cancer, and cognitive health problems demand more haematococcus pluvialis products. Haematococcus pluvialis astaxanthin increases general blood flow and reduces blood sugar in patients with blood pressure and diabetes.
The haematococcus pluvialis market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on product, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.
Impact of Covid-19 on the Haematococcus Pluvialis Market
The COVID-19 pandemic has adversely hit many economies around the world. The combat measures like complete lockdowns and quarantines to fight this pandemic has put a strong adverse impact on many industries, including a portion of the algae industry. In the algae sector, the haematococcus pluvialis market has registered a strong slowdown in sales in the first quarter of 2020 due to the disturbance in logistics and transportation. Along with logistics and transportation, the market has registered interruptions in the entire value chain of the sector from raw materials supply for culture media to manufacturing, packaging, and distribution of the final products.
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The impact of the COVID-19 outbreak on this sector started in 2020 in China, one of the world’s largest producers and one of the leading consumers of haematococcus pluvialis. The closing or working on very less efficiency of haematococcus pluvialis production facilities for few months in China, and restrictions on export and import of the natural astaxanthin mainly derived from haematococcus pluvialis microalgae and raw materials particularly culture medium for haematococcus cultivation to and from Chinas restricted area affecting supply chain has strongly impacted the production, sales, and operation of this industry. Moreover, this pandemic is also expected to adversely affect the haematococcus pluvialis market in many countries globally, including the U.S., India, Australia, Brazil, and EU-5 countries. Under India’s countrywide lockdown, many commercial astaxanthin production facilities from haematococcus have shut down or are operating at a reduced capacity, leading to a substantial loss in domestic haematococcus pluvialis production.
In addition, the Southeast Asian algae industry, including haematococcus pluvialis is facing challenges because of the worsening coronavirus outbreak, impacting the haematococcus pluvialis and its ingredient (astaxanthin) distribution within and across markets in the Asia-Pacific region. Malaysia has lockdown, but the algae production facilities have been given clearance to continue operations as they are considered essential in pharmaceutical, nutraceutical, and food & beverage industries. However, the lockdown has posed logistical challenges for suppliers in haematococcus pluvialis and its ingredients products in the country and across the border to Thailand, and this may be a major concern for distributors and haematococcus producers during the upcoming durian season.
In Vietnam, algae production facilities are operating at normal levels without disrupting the distribution chain for algae products. However, the market is getting more challenging, as distributors are unwilling to do business in the coronavirus outbreak. In Thailand, production and supply chain distribution of haematococcus products remain unaffected despite various virus containment measures. In the Philippines, increasingly tight port restrictions may negatively impact the haematococcus market in the country.
Therefore, a complete halt on the transportation and logistics industry and reduced production in some countries due to the lockdowns in many countries worldwide is projected to adversely affect the haematococcus pluvialis market in terms of volume sales and thereby the market revenue in 2020 and 2021.
The haematococcus pluvialis market is mainly segmented into astaxanthin ingredients and astaxanthin bulk finished products based on product. The astaxanthin ingredients segment is estimated to account for the largest share of the overall haematococcus pluvialis market in 2020. The major share and the fastest growth of this segment is primarily attributed to the growing end-use applications of the astaxanthin ingredients, rising awareness about preventive healthcare and nutraceuticals, rising demand for natural antioxidants, growing cosmetics & personal care markets, and government initiatives to support the aquaculture industry. Moreover, the haematococcus pluvialis astaxanthin ingredients market is further segmented into astaxanthin oleoresin, beadlets, whole biomass powder, and water dispersible powder. The astaxanthin oleoresin segment is expected to account for the largest share of the haematococcus pluvialis astaxanthin ingredients market in 2020 due to increasing demand astaxanthin oleoresin in food supplements, cosmetics, and nutraceutical industries.
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Based on the application, the haematococcus pluvialis market is segmented into food and beverages, nutraceuticals, pharmaceuticals, cosmetics, and animal feeds. The food and beverage segment is expected to account for the largest share of the overall haematococcus pluvialis market in 2020. This segment’s dominant position is mainly attributed to the rising health awareness and food consciousness, growing demand for organic foods, rising use of natural food colors, and increasing consumption of anti-oxidants in food and supplements. However, the nutraceuticals segment is expected to grow at the fastest CAGR during the forecast period due to increasing demand for natural astaxanthin from the nutraceuticals industry owing to its potential effects on various diseases such as cancers, hypertension, diabetes, cardiovascular, gastrointestinal, and liver neurodegenerative, and several skin diseases.
Geographically, North America is expected to command the major share of the haematococcus pluvialis market in 2020, followed by Asia-Pacific and Europe. The major share of the North American region is mainly attributed to the increasing demand for natural food supplements and growing awareness about the adverse effects of chemical products among consumers. Also, awareness programs by various organizations are estimated to increase the regional market share. For instance, Natural Algae Astaxanthin Association (NAXA) is focused on increasing awareness about astaxanthin usage. Further, haematococcus pluvialis algae have been approved for use as a dietary supplement ingredient in the U.S. and Canada is one of the major factors contributing to the growth of haematococcus pluvialis in North America.
The major players operating in the haematococcus pluvialis market are Cyanotech Corporation (U.S.), E.I.D. Parry (India) Limited (India), BlueBioTech GmbH (Germany), Algatechnologies Ltd. (Israel), Tianjin Norland Biotech Co., Ltd. (China), AlgaeCan Biotech Ltd. (Canada), AstaReal AB (Sweden), Yunnan Alphy Biotech Co., Ltd. (China), Algae Health Sciences – A BGG company (U.S.), Fenchem (China), Piveg, Inc. (U.S.), Algamo s.r.o. (Czech Republic), Atacama Bio Natural Products S.A. (Chile), Algalif Iceland ehf. (Iceland), BDI-BioLife Science GmbH (Austria), AstaMAZ NZ Ltd. (New Zealand), FjordAlg AS (Norway), Sea & Sun Organic GmbH (Germany), MC Biotech Sdn Bhd (Brunei), Pond Technologies Inc. (Canada), Algicel, Biotecnologia e Investigação Lda (Portugal), Algae to Omega, LLC (U.S.), and Shaivaa Algaetech LLP (India), among others.
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Scope of the report
Haematococcus Pluvialis Market, by Product
Astaxanthin Ingredients
Astaxanthin Oleoresin
Beadlets
Whole Biomass Powder
Water Dispersible Powder
Astaxanthin Bulk Finished Products
Capsules/Softgels
Tablets
Haematococcus Pluvialis Market, by Application
Food and Beverage
Nutraceuticals
Pharmaceuticals
Cosmetics
Animal Feeds
Haematococcus Pluvialis Market, by Geography
North America
U.S.
Canada
Europe
Germany
U.K.
Italy
France,
Sweden
Spain
Russia
Rest of Europe
Asia-Pacific (APAC)
China
Japan
India
Australia
South Korea
Vietnam
RoAPAC
Latin America
Brazil
Mexico
Argentina
RoLATAM
Middle East and Africa
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