Table of Contents
•The US market for astaxanthin ingredients for human nutrition generated a revenue of $ x million in 2014.
•Revenue is expected to grow at a compound annual growth rate (CAGR) of x % during 2014–2019, driven by growth in demand and higher pricing through differentiated products.
•The astaxanthin value chain is multi-layered and is similar to that of other ingredient markets.
•Participants include cultivators and biomass producers, astaxanthin ingredient processors, capsule manufacturers, brand owners, and dietary supplement product manufacturers.
•Today, eye health dietary supplements are a clear target, but astaxanthin can possibly have target antioxidants for food in general, including a role as a shelf-life stabilizer.
•The following key capabilities differentiate successful suppliers from the others:
oIntegrated supply chain
oPrice justified by testing and validation of higher oxygen radical absorbance capacity
oProduct attributes of quality and flexibility
•New entrants must overcome entry barriers related to low consumer awareness and lower market exposure than that of incumbent companies.
Top 3 Growth Factors
Rising prevalence of age- and lifestyle-related degenerative eye diseases (cataracts, glaucoma, AMD, and diabetic retinopathy) is a high-impact driver.
Increasing trend toward preventative medicine using dietary supplementation (e.g., lutein, zeaxanthin, and vitamin E) in consumers, especially the aging baby-boomers
Increasing credibility in the benefits of dietary supplements through clinical trials and validation, coupled with new formulation development.
Key Takeaway: Although the astaxanthin revenue in the United States is about $ x million, the entire range of antioxidant ingredients for the human nutrition market (a little less than $ x billion) is believed to be potentially addressable with new astaxanthin formulations.
•This market represents all the natural antioxidants used in human health and wellness indications: e.g., vitamin E in all its forms of tocopherols and seed oils, xanthins, carotenes, lutein, and others
•This market represents all the astaxanthin forms—synthetic and natural, including microalgal, yeast, and bacterial sources for use as an antioxidant dietary supplement or functional food, and also as a pharmaceutical additive for its antioxidant action.
Key Takeaway: Astaxanthin is considered a promising replacement for mixed tocopherols (vitamin E) as an antioxidant in the dietary supplements and functional foods market. Thus, competing directly against vitamin E can help astaxanthin suppliers penetrate the market faster.
Mixed-tocopherol vitamin E is the most common antioxidant used in human food applications, but is used primarily as a shelf-life stabilizer. As an ingredient, vitamin E is under threat due to increasing demand for clean-label and non-genetically-modified-organism (non-GMO) products, and volatility in soy supply and price.
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