Fucoxanthin Market Outlook
Fucoxanthin is a xanthophyll, which is a type of yellow pigment that widely found in chloroplasts of brown algae. Fucoxanthin is found in brown seaweed or algae, diatoms, and other plants. It play a role in light-harvesting as part of the photosynthesis process. It has a highly unique structure that contains both hydroxyl groups and epoxide bond along with allenic bond and a conjugated carbonyl group in the polyene chain. All of these features of fucoxanthin provide it with powerful antioxidant activity. Fucoxanthin is majorly used in the food, pharmaceuticals, and cosmetic industries. In the pharmaceuticals industry, it is majorly used to improve the blood lipid profiles and decrease insulin resistance in the human body. Therefore, the utilization of fucoxanthin in the pharmaceuticals help to overcome the health-related issues in human and help to increase the demand for fucoxanthin in the market from the manufacturers.
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High Preference for Natural Sources of Pigment to Surge the Demand for Fucoxanthin in the Market
Fucoxanthin is one of the best natural source of food color in the food and beverages industry. Therefore, growing concern of people towards the harmful effects of the artificial food color on human health leads to increase in the usage of natural food color from manufactures that represents the higher demand for fucoxanthin in the food industry in the current and forecast period. Fucoxanthin also helps in improving blood lipid profiles and decreased insulin resistance to people suffering from obesity. This generate high demand for fucoxanthin in the pharmaceuticals industry, and also help to drive the market growth in the forecast period. Along with multiple drivers, it has some restraints such as the slowdown in the economic growth is impacting negatively on the fucoxanthin market. However, the fucoxanthin market still maintain an optimistic growth. It is also very expensive source of natural food color. The high production cost directly have an impact on sales and restrict the growth of the market. Still, due to its benefits and multiple utilization, the market can get through with the above mentioned restraints. In the current market, the number of fucoxanthin manufactures are very less and demand for fucoxanthin from different industry is high. This led manufacturers to not able to meet the demand. Hence, it shows the opportunity for the new market players to enter into the market and serve as the large market of fucoxanthin.
Global Fucoxanthin Market: Segmentation
The global fucoxanthin market is segmented on the basis of product type, application, and source.
On the basis of product type, the global fucoxanthin market has been segmented as –
- HPLC Series
- UV Series
On the basis of application, the global fucoxanthin market has been segmented as –
- Food Industry
- Cosmetic Industry
- Pharmaceuticals industry
On the basis of source, the global fucoxanthin market has been segmented as –
- Brown seaweed/algae
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Fucoxanthin Market: Regional Analysis
The global fucoxanthin market is majorly divided into seven regions such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania. Among all these regions, the Asian region is expected to grow at a high CAGR during the forecast period, due to higher demand for natural food color in the Asian countries. China and India also show high growth as compare to other countries. Along with this, other regions such as the Middle East and Africa, North America and Europe are also expected to show higher demand for fucoxanthin in the coming years.
Fucoxanthin Market: Key Participants
- Oryza Oil & Fat Chemical Co., Ltd.
- Yangling Ciyuan Biotech Co., Ltd.
- Polifenoles Naturales SL
- Amicogen Inc
- Yigeda Bio-Technology Co., Ltd.
- Ningbo Tianhong Biotech Co., Ltd
- Changsha Vigorous-Tech Co., Ltd.
- Shaanxi Sciphar Natural Products Co., Ltd.
- Agrochemi Co., Ltd.
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