COVID-19 Impact: How the pandemic has changed the Astaxanthin Market

The pandemic-level outbreak of COVID-19 has created a significant impact on the global astaxanthin market. Moreover, the natural astaxanthin segment is anticipated to be the most lucrative, during the projected timeframe. The softgel segment will have exponential growth in the global marketplace, over the forecast period. The nutraceutical segment is expected to achieve newer heights. The Asia-Pacific region will create lucrative opportunities for investment, over the forecast period. The key manufacturers of the global market are concentrating on multiple strategies to sustain during the COVID-19 Apocalypse.

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The rapid transmission of the COVID-19 has created a considerable impact on the global astaxanthin market. Astaxanthin is a keto-carotenoid that helps in reducing pain in the joints, tendons, and muscles. Moreover, increasing emphasis on dietary consumption owing to the high cost of hospitalization is one of the crucial factors for the growth of the global astaxanthin market, during the forecast period. Furthermore, it is projected that the global need for astaxanthin may experience a surge during the COVID-19 outbreak period. However, the COVID-19 pandemic has hit the global businesses and industries, multiple key players are coming forward with strategic steps to fight against COVID-19 disease. For instance, Cardax, the U.S.-based organization, has proposed a plan to develop astaxanthin for the treatment of COVID-19. The further company states that astaxanthin may boost the immune system along with minimizing the severe inflammatory responses associated with the COVID-19 symptoms. Such researches and initiatives may lead to an increase in the demand for astaxanthin, during the COVID-19 crisis. During the unprecedented situation of a pandemic, we are helping our clients in understanding the COVID-19 impact on the Global astaxanthin market.

Our report includes:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

As per the latest publication of Research Dive, the global astaxanthin market is set to register a $793.8 million by 2027, in the forecast period.

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The segmentation of the global astaxanthin market has been done based on the source, product, application, and region. The report provides key insights of drivers, restraint factors, segments, future opportunities, and key manufacturers of the market.

Factors Affecting The Growth

As per our analyst estimates, the growth of the global astaxanthin market is mainly driven by the dramatic rise in high blood pressure, diabetic and cardiovascular patients coupled with rising awareness about natural antioxidants among the people. Contrary to this, the higher cost of astaxanthin production is anticipated to decline the growth of the global astaxanthin industry growth, during the analysis period.

The Natural astaxanthin Shall be the most lucrative till 2027

Based on the source, the global astaxanthin market is categorized into natural and synthetic. The natural astaxanthin will have rapid growth and is anticipated to generate huge revenue during the projected period. The growth of the segment is mainly attributed to the rising awareness regarding the healthy lifestyle along with cost-effectiveness.

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The Softgel segment shall register Massive growth throughout the analysis period

Depending on product, the global market is broadly segmented into oil, dried algae meal, liquid, softgel, and others. The softgel segment is expected to rise at a noteworthy growth rate during the projected period mainly owing to effective and result-oriented treatment on eyesight and skin diseases.

Nutraceuticals are expected to grow exponentially, in the global marketplace

On the basis of applications, the global market for astaxanthin is divided into cosmetics, aquaculture & animal feed, nutraceutical, and others. The nutraceutical segment will have the fastest market growth and is anticipated to generate a remarkable revenue in the analysis period. Low side-effect properties, high nutritional values, and effective treatments on CVDs diabetes and other diseases may lead to an increase in the growth of the segment, during the analysis period.

Geographical Analysis and Major Market Players

On the basis of region, the global astaxanthin market is categorized into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific astaxanthin market has the largest market share and it will register a noteworthy revenue in the forecasted period. The increasing demand for natural products, rising geriatric population and, growing tend of nutritive supplement consumption, particularly in China, India, and Japan anticipated to boost the APAC astaxanthin market, throughout the forecast period.

The leading global astaxanthin organization includes
• Beijing Gingko Group,
• FENCHEM,
• JXTG Nippon Oil & Energy Corporation,
• E.I.D.-Parry (India) Limited,
• Cyanotech Corporation,
• Heliae Development, LLC,
• Fuji Chemical Industries Co., Ltd.,
• Algatech LTD,
• DSM,
• BASF SE.

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This release was published on openPR.