Global Astaxanthin Market is valued approximately USD 0.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.90 % over the forecast period 2020-2027. Astaxanthin belongs to the carotenoid xanthophyll group. It is a reddish color that appears naturally in some algae and allows fish, lobster, shrimp, and other marine foods to be pink red. Because of its quick availability, along with providing cardiovascular benefits, the product is used as a dietary supplement. The product is over 500 times stronger and much more powerful than other carotenoids such as lutein and lycopene than vitamin E. The market is driven by increasing understanding of preventive healthcare & nutraceuticals, feed industry industrialization, increased demand for cosmetic items.
Initiatives by government to promote aquaculture, growing market for natural antioxidants, increasing demand from emerging countries would create opportunity in the market. The key players of global Astaxanthin Market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In October 2018, natural astaxanthin was launched by BGG and its associates Solix Algredients and Algae Health Sciences for its flagship product AstaZine. This substance is used as a dispersible emulsion form used in applications for beverages. This ingredient is used for the application of many beverages, such as sports drinks and anti-aging fitness shots. However, High Production Cost could restrain the growth of market.
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The regional analysis of global Astaxanthin Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of feed industry industrialization, increased demand for cosmetic items. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as Increasing understanding of Preventive Healthcare & Nutraceuticals would create lucrative growth prospects for the Astaxanthin Market across Asia-Pacific region.
Major market player included in this report are:
Koninklijke DSM N.V.
Otsuka Pharmaceutical Co., Ltd.
Fuji Chemical Industries Co., Ltd.
Divis Laboratories Ltd.
Beijing Ginko Group (BGG)
Igene Biotechnology Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.