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Global Astaxanthin Market To be Driven by the Uses In Pharmaceuticals And Nutraceuticals In the Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘Global Astaxanthin Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global astaxanthin market, assessing the market based on its segments like products, sources, applications, and?major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces model.

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The key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027): 16.2%

Astaxanthin is increasingly used as a nutritional supplement in foods, feeds, pharmaceuticals, and nutraceuticals. These applications are expected to contribute to the market growth. High demand for nutraceuticals due to their antioxidant properties and increased demand in the aquaculture and animal feed industry are the key factors propelling the market growth. A growing number of health-conscious individuals are more inclined towards natural food colouring agents with lesser adverse effects than other chemical products, which is an important driver estimated to boost the market growth. The rising awareness of nutritional products among people and their preference for dietary supplements as a result of the high expense of hospitalisation are expected to fuel demand for nutraceuticals and natural antioxidants. Moreover, the COVID-19 outbreak has augmented the demand for nutraceutical goods, which is projected to drive the market growth throughout the forecast period.

Industry Definition and Major Segments

Astaxanthin, a xanthophyll carotenoid, is a dark-red, fat-soluble pigment, that does not have pro-Vitamin A activity in humans; it is the most abundant carotenoid found in algae and aquatic animals. Astaxanthin can be found in a variety of seafood, including salmon, trout, red sea bream, shrimp, and lobster, and in birds, such as flamingos and quail.

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By product, the market is classified into:

• Dried Algae Meal or Biomass

• Oil

• Softgel

• Liquid

• Others

Based on source, the market is segmented into:

• Natural

• Synthetic

By application, the market is divided into:

• Aquaculture and Animal Feed

• Nutraceuticals

• Cosmetics

• Food

• Others

On the basis of region, the market is segmented into:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Market Trends

Over the forecast period, the increased adoption of novel technologies to expand astaxanthin production is expected to propel the market growth. ALGAMO, for example, uses photo-bioreactors and micro-modules to create astaxanthin while minimising water waste and saving electricity. To fulfill the rising demand without sacrificing quality or production, companies are implementing technologically advanced systems. The market is expected to develop due to an increase in the number of activities conducted by key companies to raise awareness about astaxanthin. For example, the Natural Algae Astaxanthin Association (NAXA) was formed by Algatech Ltd. and Cyanotech Corp. to raise customer awareness and educate them about the benefits of natural astaxanthin. Moreover, rapid urbanisation, high consumer disposable income levels, and increasing awareness about natural products are anticipated to propel the market growth globally.

Key Market Players

The major players in the market?are Algatech Ltd., Cyanotech Corporation, Fuji Chemical Industries Co., Ltd., CO2 GRO Inc., MicroA, E.I.D. – Parry (India) Limited, and Beijing Gingko Group, among others. The?report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1,000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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Reportedtimes, PR-Wirein, Extended Distribution, Research Newswire, English

Contact Information:

Company Name: EMR Inc.

Contact Person: Matt Johnson, Corporate Sales Specialist – U.S.A.

Email: sales@expertmarketresearch.com

Toll Free Number: +1-415-325-5166 | +44-702-402-5790

Address: 30 North Gould Street, Sheridan, WY 82801, USA

City: Sheridan

State: Wyoming

Country: United States

Website: https://www.expertmarketresearch.com