The Astaxanthin Market was valued at USD 665.25 Million in 2021 and is expected to reach USD 1177.59Million by the year 2028, at a CAGR of 8.5%.
The term "astaxanthin" refers to a reddish-brown pigment that is a member of the class of carotenoids known as xanthophylls. It typically occurs naturally in some algae and gives trout, salmon, shrimp, lobsters, and other shellfish its red or pink colour. Recently, synthetic and yeast/fungi-based astaxanthin have also attained notable reputation. Additionally, the stability of astaxanthin was assessed in various carriers and storage settings. Haematococcus was used to produce astaxanthin, and it was controlled for stability in various food oils. In rice bran, gingelly, and palm oils, astaxanthin was stable or secure at 70-90 °C with 84%-90% astaxanthin content retention, which can be used in food and beverage, aquaculture and animal feed, pharmaceutical and nutraceutical applications, while astaxanthin content was reduced at higher temperatures.
In addition, it protects the skin against sunburn and overcomes wrinkles. The application of astaxanthin products in dietary supplements is due to their easy availability coupled with cardiovascular benefits. Also, the product is inspected to be over 500 times healthier than vitamin E and is much more beneficial than other carotenoids such as lutein and lycopene. Such various applications are probably boosting the astaxanthin market during the forecast period.
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The Major Players in The Global Astaxanthin Market:
- BASF SE
- BGG
- Cyanotech Corporation
- DSM
- Fenchem
- Lycored
- Piveg
- Algae to Omega
- Wellgreen Technology
- Cardax
- INNOBIO
- ALGA Technologies
- Algix
- EID-Parry Ltd
- IGENE Biotechnology
- MicroA AS
- JX Nippon Oil
- Energy Corporation
- Astareal Inc.
- Kunming biogenic
- Divis Laboratories ltd.
- Otsuka Pharmaceuticals And Others Major Players
Market has segmented the Global Astaxanthin Market on the basis of Type, Application, and region:
By Type:
- Synthetic
- Natural
By Application:
- Feed
- Supplements
- Food
- Other
By Regional Outlook (Revenue, USD Billion, 2022 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Covid-19 Impact and Recovery Analysis on Industry:
In the midst of the COVID-19 pandemic, astaxanthin producers face significant difficulties in meeting the rising demand for functional food items, which includes shifting consumer tastes and preferences. Due to trade restrictions, disruptions in the raw material supply, and ineffective supply channels brought on by the coronavirus outbreak, the price of raw materials is predicted to increase. Inadequate raw materials, high raw material costs, and high production costs are likely to pose a significant obstacle to the growth of the astaxanthin market in the near future.
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- Visualize the composition of the Global Astaxanthin Market products in terms of Product and application highlighting the critical commercial assets and players.
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Table of Content:
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Form
3.3 By Application
To be continued…….
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Related Reports:
https://introspectivemarketresearch.com/reports/xanthophyll-market/ https://introspectivemarketresearch.com/reports/natural-astaxanthin-market/ https://introspectivemarketresearch.com/reports/synthetic-astaxanthin-market/
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