What will be driving the Astaxanthin Market growth in near future? Players BASF, BGG, INNOBIO Ltd., Cardax, Nippon Oil & Energy Corporation, and Fuji Chemical

Global Market Insights, Inc. has announced the launch of Astaxanthin Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Elaborating further on the diverse application landscape of astaxanthin industry, dietary supplements have stood as another major growth avenue for this business space. Easy product availability coupled with a slew of associated health benefits will further generate a massive demand for astaxanthin in the ensuing years. As per estimates, the dietary supplements market is expected to register a CAGR of more than 4% over 2018-2024.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/202

Key Profiles:
• BASF
• BGG
• INNOBIO Ltd.
• Cardax
• Nippon Oil & Energy Corporation
• Fuji Chemical
• Algatech
• Mera Pharmaceuticals
• Divis Nutraceuticals
• Otsuka Pharmaceutical Co. Ltd.
• Contract Biotics

Powered by a plethora of applications in the animal feed domain, astaxanthin market has indeed been one of the most lucrative business spheres under the canopy of specialty chemicals space. In fact, the animal feed application vertical procured almost 40% of the overall industry share in 2017. A large credit of this goes to the governmental backup with regards to aquaculture, which has extensively prompted astaxanthin’s utilization as pigment coloring agent.

Analyzing the above trends, it is undeniable that sustainability and environmental viability are two of the top-notch parameters underlining the strategic landscape of astaxanthin industry. Regional governments along with renowned regulatory authorities have enforced various directives, the compliance of which, is a major factor influencing the astaxanthin production.

Driven by a regulatory-influenced and somewhat driven approach of this industry, manufacturers are constantly integrating advanced cultivation, drying, and extraction technologies in natural variants production that ensure high quality yield, minimal wastage, and above all health and environmental viability. In this regard, an emerging trend regarding which astaxanthin market players are highly optimistic about is sealed microalgae cultivation.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/202

Consistent technological advancements in the natural astaxanthins manufacturing process lead to high quality yield with lesser wastage. Extraction, drying, and cultivation is widely adopted techniques preferred for optimal resource utilization. Microalgae cultivation has gained traction in the astaxanthin market. Highest preference towards this technology is credited to its advantages such as a considerable reduction in agricultural residue and prevention from microbial contamination. These advancements will induce immense potential to the industry size over the forecast timeline.

Astaxanthin market from a synthetic source will dominate the consumption with more than 55% share by 2024. High usage of animal feed applications due to its high suitability will primarily contribute towards the revenue generation. Its adoption in aquaculture for providing pigmentation to fishes and cost effectiveness will further support the industry dominance. Naturally sourced counterparts are likely to witness highest CAGR from 2018 to 2024 owing to shifting consumer preference towards sustainable and environmentally friendly products. This shifting preference can be attributed to the provision of the benefits such as better pigmentation in animal feed and various health benefits for human beings.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/astaxanthin-market

Asia Pacific astaxanthin market led the regional share and is projected to surpass 150 tons demand by 2024. Large population across the region with deficiency of nutrients along with the presence of leading industry participants, including BGG will further support the regional dominance. Astaxanthin market from North America will grow significantly, witnessing around 3.5% growth over the next seven years, primarily owing to rising consumer awareness regarding its health benefits.

BASF, BGG, INNOBIO Ltd., Cardax, Nippon Oil & Energy Corporation, and Fuji Chemical company are among the major players in the global astaxanthin market. Business expansion is among the key strategies implemented by the competitors to strengthen their customer base.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.