Astaxanthin Market is Projected to Attain Substantial Absolute $ Opportunity in Terms of Value Through 2022

Astaxanthin is a member of the xanthophyll family of carotenoids which is found in some marine plants and animals. Also known as "the king of the carotenoids," it is acknowledged as one of the most powerful antioxidants present in nature. Highest concentration of Astaxanthin is found in Pacific sockeye salmon. It is also present in crab, algae, shrimp, krill, red trout, and lobster. Commercial production of is from astaxanthin Haematococcus pluviailis (HP). A hybrid system for photoautotrophic cultivation of Haematococcus pluviailis comprises of a photobioreactor (PBR) fence.

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Astaxanthin Market Outlook – Increasing Pharmaceutical Applications to be the Major Market Driver

Asia Pacific and North America are expected to be the most potential markets for Astaxanthin manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. This is mainly attributed to the anticipated growth in pharmaceutical industry, especially in developing countries such as China and India. According to IBEF, US$ 55 billion will be generated by the Indian pharmaceuticals industry by 2026. In addition to this, the growing medical tourism in India has boosted the growth of succinic acid market in the region. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India.

Astaxanthin Market Taxonomy

On the basis of source, the global Astaxanthin market is classified into:

Artificial
Natural
On the basis of end use industry, the global Astaxanthin market is classified into:

Food & Beverages
Pharmaceuticals
Personal Care Products

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This release was published on openPR.