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Market Overview
- The Global Astaxanthin Market is expected to grow at a CAGR of 3.5% during the forecasting period (2020-2027).
- Astaxanthin is a naturally occurring dark red carotenoid that is majorly found in aquatic animals such as krill, salmon, trout, shrimp, crustaceans, and crayfish. Astaxanthin has highly powerful lipophilic antioxidants, has no “pro-oxidant” property and it is approximately 500 times stronger than vitamin E. Consumption of astaxanthin provides several benefits such as improved ability to reduce oxidative stress, supports healthy cardiovascular activity, improves muscle strength & performance, and prevents premature skin aging and joint health. The astaxanthin in capsule form is consumed as a dietary supplement majorly in Japan, The U.S, and the EU. In agriculture, it is used as a food supplement for egg-producing chickens. Astaxanthin is considered as a super-oxidant and it is approximately 10-20 times more powerful than other commercially available carotenoids such as beta-carotene, lutein, and zeaxanthin.
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Market Dynamics
- Increasing demand for high quality natural dietary supplements as a precautionary measure for various health diseases such as osteoarthritis, Type 2 Diabetes, Thrombosis, and others is the primary factor driving the global astaxanthin market. Growing consumer awareness regarding product availability and its health-related benefits associated with the consumption of astaxanthin products is further expected to boost the market for astaxanthin globally during the forecast period. Increasing the production of salmon, shrimp, and trout and increased utilization of astaxanthin as a feed additive for respective species is additionally driving the global astaxanthin market. According to the data published in Food and Agriculture Organization, the annual production of Shrimp increased from 3.5 million tons in 2017 to approximately 4 million tons in 2018 providing significant market growth for astaxanthin globally in the respective industry. Over the years, astaxanthin evolved as a pigment source and vitamin for cultured prawns. Moreover, increasing awareness regarding aging associated with increased preventive care approach towards aging are increasing demand for astaxanthin globally during the forecast period.
- However, the presence of health-related side effects through oral consumption of astaxanthin and the high cost of the respective products are primary factors hindering the growth of the astaxanthin market globally during the forecast period. The major astaxanthin side effects associated with oral consumption include bowel movements, red stool color, and stomach pain.
Market Segment Analysis
- The global astaxanthin market is segmented based on product type into food synthetic and natural.
- The natural segment is expected to dominate the global astaxanthin market during the forecast period owing to technical and biological advantages over its compatriots. Natural astaxanthin is produced from microalgae which are present in a carotenoid cocktail and it is connected to one or two fatty acids diesters and monoesters whereas synthetic astaxanthin is produced from petrochemicals and it is free from astaxanthin. The natural astaxanthin is approved for human consumption as a dietary supplement whereas synthetic astaxanthin is approved only for its usage in salmon feed.
Market Geographical Analysis
- By region, the global astaxanthin market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and America.
- Europe is expected to dominate the global astaxanthin market during the forecast period owing to increased awareness among the communities towards astaxanthin and its advantages over the precautionary consumption. Increased consumer interests towards anti-aging cosmetic products and the presence of similar medical properties are further expected to boost the demand for astaxanthin in Europe during the forecast period.
- Asia-Pacific astaxanthin market is expected to grow at a higher pace during the forecast period owing to increased production of shrimp and other aquatic products associated with increased consumption of astaxanthin as a feed additive in the production of shrimp, salmon, Strout, and other egg-producing animals. Increased adoption of advanced feed additives to improve the health and productivity of aquatic species by farmers is further expected to boost the consumption of astaxanthin in Asia-Pacific during the forecast period.
Market Competitive Trends
- Global astaxanthin market is currently experiencing new product launches with innovative formulation methods to attract the consumer located across the major developing countries. The global players in the astaxanthin market are focused on improving their regional and global presence in the respective market through mergers and acquisitions with the regional/developing companies in the astaxanthin market.
- In July 2019, Chile-based Atacama Bio Natural Products launched NatAxtin branded Alge Astaxanthin as biomass, oleoresin oil, and power for usage in food and dietary supplement.
- In May 2018, BCG and Ingredients have merged into a company to increase its market presence and share in the natural ingredients sector. It includes Algae, fruits and plants, natural astaxanthin, DHA Omega-3 fatty acids, and other natural ingredients.
- In November 2017, NowFoods launched Astaxanthin capsules consisting of AstaZine Natural Astaxanthin derived from organic Heamatococcus Pluvialis microalgae.
- Some of the key players in the global astaxanthins market include AlgaTechnologies Ltd., BioAstin, Fujifilm Corporation, Algae Health Sciences, and many others.
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In this research survey, the features that have powered and reserved the market’s growth is also included in this market report. com/get-free-sample/astaxanthin-market Astaxanthin is a powerful antioxidant with health benefits and is considered to be 550 times stronger than antioxidants, such as vitamin E. High demand for nutraceuticals due to their antioxidant properties and increased demand in the aquaculture & animal feed industry are some of the factors that have supported long-term expansion for Astaxanthin Market. – Parry (India) LimitedENEOS CorporationFENCHEMMicroANextFermAlgalif Iceland ehfRecent Developments in Astaxanthin Market · October 2020, Cyanotech Corp. com/Inquire-before-buying/astaxanthin-market Reasons to Acquire Astaxanthin Market Report· Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors· Gain authentic and granular data access for Astaxanthin Market so as to understand the trends and the factors involved behind changing market situations· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patternsTable of ContentsAstaxanthin Market is segmented into source, product, application and region.
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The global astaxanthin market size was valued at USD 900 million in 2020 and is anticipated to expand at a significant CAGR during the forecast period, 2021-2028. The natural segment is further divided into yeast, krill/shrimp, microalgae, and others. The major reason attributing to this market growth is their extensive use as feed additives. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys. com Follow Us: LinkedIn | Twitter
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The Astaxanthin Market is projected to reach USD 965 million by 2026, from USD 647 million in 2021, at a CAGR of 8. Its nutrition segment includes DSM Nutritional Products and DSM Food Specialties. The company’s nutrition and food ingredients segment caters to different end-use application industries such as food, feed, and pharmaceuticals. The nutrition care segment offers a comprehensive range of products across human nutrition, animal nutrition, pharma solutions, and aroma ingredients. It offers astaxanthin through its nutraceutical business segment.
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COVID-19 Impact Analysis on Astaxanthin Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2022-2028. Get more information on "Global Astaxanthin Market Research Report" by requesting FREE Sample Copy at https://www. Browse Global Astaxanthin Market Research Report with detailed TOC at https://www. Purchase Complete Global Astaxanthin Market Research Report at https://www. com/contact/astaxanthin-market/buy-nowAbout Us:Value Market Research was established with the vision to ease decision making and empower the strategists by providing them with holistic market information.
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A report was released recently that sheds lots of light on the Astaxanthin Market. Key PlayersThe report discusses the key players in the market who have provided a huge contribution in the growth of the Astaxanthin Market and dominate the market share. utm_source=Free&utm_medium=64The major players covered in Astaxanthin Markets:· Algatechnologies Ltd. (ADM)· BASF SE· BGG (Beijing Gingko Group)· Cardax, Inc. Method of ResearchThe report on the global Astaxanthin Market analyzes the market using Porter’s Five Force Model method.
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