Astaxanthin Market Scope
The astaxanthin market to record a healthy expansion rate of 7.63% between 2022 and 2030 (evaluation period). The market size is anticipated to touch USD 1.84 billion by 2030.
Growth Inducers and Challenges
People growing aware of the importance of nutrition for leading a healthy lifestyle along with the rising demand for dietary supplements to avoid incurrence of significant hospitalization costs can be a key growth booster for the astaxanthin market. Astaxanthin is a natural antioxidant that safeguard human cells from oxidation and inflammation. It has anti-inflammatory benefits that help reduce pain in joints, tendons and muscles in patients that deal with chronic arthritis. Basically, the escalating cases of diseases like cardiovascular diseases, diabetes, cognitive health issues and cancer can bolster the market size in the ensuing years.
The France astaxanthin market is experiencing steady growth, driven by the increasing awareness about the health benefits of astaxanthin. Astaxanthin is known for its potent antioxidant properties, which help protect cells from damage caused by free radicals. It is also believed to have anti-inflammatory and anti-aging effects, making it a popular ingredient in supplements and skincare products.
Frequent technological innovations and the rising adoption of low-cost advanced technologies during manufacturing of astaxanthin should also foster business growth. Other than the practical advantages of astaxanthin, its demand is also soaring in view of surging advancements in culture conditions backed by natural processes, omics technologies, and new sources.
Top Companies
BASF SE (Germany), Alga Technologies (Israel), Otsuka Holdings Co. Ltd (Japan), Koninklijke DSM N.V. (Netherlands), Cardax Inc. (US), Beijing Gingko Group (China), Fuji Chemical Industries Co. Ltd (Japan), Fenchem (China), Cyanotech Corporation (US), Archer-Daniels-Midland Company (US), are some of the global astaxanthin key market players.
Segmental Review
Source, form and application are the top segments that have been considered in the MRFR report.
The key sources of astaxanthin are natural and synthetic. The natural sources studied in the report are yeast & microbes, plants and marine. The natural source segment captured the biggest share in 2019 and will project a higher growth over the analysis period. This can be due to the mounting consumer awareness about food safety and the resultant surge in the preference for natural ingredients.
Depending on form, the global astaxanthin market overview can be considered for both dry and liquid products. The dry form of astaxanthin notes significant demand in the production of capsules, sports nutrients, feed supplements, tablets, and more. As a result, the segment has taken the lead in the global industry. Meanwhile, the liquid form segment should exhibit better growth in the upcoming period.
Key applications of astaxanthin are pharmaceuticals and nutraceuticals, food and beverages, personal care, animal feed, and more. Astaxanthin’s applications in the animal feed sector are quite extensive, which is why the segment has been dominating the global market since 2019. Astaxanthin acts as an animal feed additive in the aquaculture industry. MRFR expects the animal feed segment to touch USD 718.5 million by 2030-end. On the other hand, the food and beverage segment can project the fastest growth over the assessment period.
Regional Insight
North America stands as a highly profitable astaxanthin market and has remained so since 2019. The US stands at the vanguard of the North American market, while Canada is making rapid progress at the same time. Astaxanthin market size America, especially the US, benefits largely from the soaring number of awareness programmes introduced by various non-profit organizations, combined with the existence of a huge pool of renowned players. The thriving cosmetic industry and its emergence as a key end-user in the region also facilitate market demand.
Recent Updates
• October 2020 – Lubrizol Life Science Health has introduced ASTAGILE microcapsules, its latest organic, sustainable astaxanthin that is microencapsulated with spirulina. The product fosters mental agility and also facilitates healthy ageing among young as well as senior adults.
Champagne Market Research Report Information By Price Range (Economy, Mid-range, and Luxury), by Sales Channel (Offline Channel and Online Channel), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
English
Arabic
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian