Astaxanthin Market Global Status and Business Outlook 2018 to 2026 by Key players: BASF SE, Cyanotech Corporation, IGENE, BGG (Beijing Ginko Group), Supreme Biotechnologies NZ Ltd, Parry Nutraceuticals, Among Others.
Commercial production of is from astaxanthin Haematococcus pluviailis (HP). A hybrid system for photoautotrophic cultivation of Haematococcus pluviailis comprises of a photobioreactor (PBR) fence.
Astaxanthin has various health benefits such as supports cardiovascular health, supports immune functioning, helps in protection of cells and nervous system from oxidative damage and supports brain health. Astaxanthin has excellent UV-light protection effect and antioxidant activity which makes it an excellent enhancement for eye health care.
Astaxanthin is used for curing Alzheimer's disease, Parkinson's disease, protection against cancer, in boosting recovery after stroke, and in reducing skin damage from ultraviolet (UV) light.
Astaxanthin Market Taxonomy:
On the basis of source, the global Astaxanthin market is classified into:
On the basis of end use industry, the global Astaxanthin market is classified into:
Food & Beverages
Personal Care Products
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Astaxanthin has powerful UV-blocking properties that help protect human skin from sun related damage. It is also beneficial in reducing wrinkles and in improving skin moisture levels.
Astaxanthin is used for the treatment of breast cancer, comprising of reduced growth of breast cancer cells. Astaxanthin can enhance endurance and fatigue levels after exercise and also helps in boosting the body's consumption of fatty acids which helps prevent muscle and skeletal damage.
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.
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.
Various applications of Astaxanthin in pharmaceutical and personal care products are fueling the growth of Astaxanthin market, especially in Asia Pacific and Middle East regions. High production cost due to limited availability of raw materials is one of the factors affecting the growth of astaxanthin market globally. The new plant has been set up in Sao Paulo, Brazil which also includes a warehouse for optimizing supply chain.
Some of the major companies operating in the global astaxanthin market include BASF SE, Cyanotech Corporation, IGENE, BGG (Beijing Ginko Group), Supreme Biotechnologies NZ Ltd, Parry Nutraceuticals, DSM NV, Algatechnologies Ltd., Yunnan Alphy Biotech Co., LTD., and Fenchem Biotek Ltd.
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