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Comprehensive analysis on Astaxanthin Market Growth | Key Players are: Cardax, BASF, BGG, ALGA Technologies, Lycored, Algix and DSM
Astaxanthin Market
Astaxanthin Market is expected to exceed USD 880 million by 2026. The upsurge demand towards natural products in anti-aging creams for its antioxidant and aesthetic appeal.
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Some major findings of the astaxanthin market report include:
- The demand for astaxanthin is increasing across the globe owing to their benefits such as lowers LDL cholesterol, anti-oxidant capabilities, and anti-inflammatory functions.
- The rising organic cosmetic products in North America owing to its skin nourishment may expand new opportunities for astaxanthin and its products is expected to drive the market growth.
- The increasing demand for healthy bakery & snacks products in Latin American countries including Brazil and Argentina is expected to provide profitable opportunities to pulse flour industry expansion.
- Some of the major manufacturers in the astaxanthin market are Cardax, BASF, BGG, ALGA Technologies, Lycored, Algix and DSM.
- Companies are delivering gluten free bakery products to gain competitive edge over the rivals.
- The service providers in North America and Europe are replacing wheat flour in extruded snacks which offers blend of nutrients.
Consumers are spending on various personal care & cosmetic products coupled with growing consciousness regarding nutraceuticals will drive the astaxanthin market growth. The ingredient is gaining approval and suitability in numerous wellness spa service providers and cosmetics producers owing to its skin-friendly and anti-oxidant properties.
The market will observe high potential from medical application owing to its health benefits functionality as it aid in recovering prostate cancer and eye health. Limited number of suppliers and the development in emerging economies owing to high cost may hinder market growth.
Astaxanthin are incorporated in animal feed owing to its high aptness that will mainly contribute towards the revenue generation. It is used as a in feed additive for chicken, egg production, shrimp and salmon and as a feed supplement. It helps in the recovery of muscles, enhancing the strength and improving energy levels. Its acceptance in aquaculture for offering pigmentation to fishes and cost efficacy will further support the industry dominance.
The growing awareness regarding natural products in Europe among working professionals is likely to adopt these products. In 2017, Algae Health Science Inc. announced that its flag ship brand AstaZine, a natural supercritical CO2 oleoresin now produced in Germany. It has become a first company to provide two Novel Food Approval in EU regarding different astaxanthin extraction methods.
The manufacturers are engaged in joint ventures which in turn offer variety of products and expand their product portfolio. The producers are concentrating to offer new products and expand their market. The manufacturers are trying to produce new functional ingredients through encapsulation technology to aid development of innovative delivery formats in the market.
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Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry Insights and validation
1.1.4 Definitions
1.1.5 Assumptions & forecast parameters:
1.2 Data sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Astaxanthin industry 360 degree synopsis, 2015 - 2026
2.1.1 Business trends
2.1.2 Source trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Astaxanthin Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015- 2026
3.3 Industry ecosystem analysis
3.3.1 Profit margin analysis
3.3.2 Distribution channel analysis
3.3.3 Vendor matrix
3.4 Regulatory landscape
3.4.1 North America
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