Astaxanthin Market Top Manufacturers, Size, Business Scenario, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2030

Astaxanthin Market: Introduction

The latest market forecast report published by Transparency Market Research on the astaxanthin market includes global industry analysis and opportunity assessment for 2020-2030. Revenue generated from the global astaxanthin market has been estimated to be valued at ~US$ 633 Mn in 2020, which is projected to increase at a CAGR of ~8%, to reach US$ 1.3 Bn by 2030.

As per studies conducted and research carried out on astaxanthin, it is potentially safe for use with very less side effects on human body and animals when consumed in any form such as tablets, soft gel, capsules, liquid, and powder The amount of astaxanthin found in whole food sources is generally safe and can be consumed with minimal risk of side effects. Potential side effects that may occur with supplementation include hormone changes, increased skin pigmentation, hair growth, and altered levels of calcium. In supplement form, however, it has been associated with some mild adverse symptoms as mentioned above.

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Innovation is Key for Market Players to Gain Competitive Advantage

The manufacturers of astaxanthin-based products can benefit from increasing the frequency of product launches, so that they can easily connect with the consumers and fulfil the growing demand for astaxanthin products. Conventionally, astaxanthin is available in powder and liquid format; however, new market players can formulate diverse astaxanthin formats and incorporate them into various products such as food and nutraceuticals to attract a larger consumer base.

Key players operating in the astaxanthin market, as profiled in the study, include

Algatechnologies Ltd.

Algaecan Biotech Ltd.

Archer Daniels Midland Co. (ADM)

BASF SE

BGG (Beijing Gingko Group)

Cardax, Inc.

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Government and Related Bodies lends Support to Production of Astaxanthin

Various government institutions and related regulatory bodies such as FDA and EU supports the production and delivery of astaxanthin in different applications, which include food & beverages, cosmetics, healthcare, aqua-feed. Astaxanthin is mainly used for coloration in salmons and other food products. Growing prevalence of astaxanthin is used in the healing process of obesity, male infertility, heart related diseases, diabetes, and other related diseases.

Astaxanthin Market - Segmentation

The report segments the astaxanthin into various segments - source, grade, application, form, production technology, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Global Astaxanthin Market: Segmentation

Astaxanthin Market by Source

Natural

Crustaceans

Crabs & Lobsters

Shrimps

Prawns & Crawfish

Others

Microalgae

Haematococcus P.

Chlorella Zofingiensis

Yeast/Fungi

Schizochytrium Genus

Synthetic

Astaxanthin Market by Grade

Cosmetic Grade

Feed Grade

Food Grade

Astaxanthin Market by Application

Aquaculture & Animal Feed

Pharmaceuticals

Dietary Supplements

Food & Beverages

Cosmetics

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Growing Demand from Food Industry Set to Boost Market Growth

The consistent growth in the demand for astaxanthin particularly from the food industry is expected to boost the growth of the astaxanthin market during the forecast period. In the past few decades, astaxanthin is increasingly being used as a food additive, owing to health benefits, including anti-inflammatory effects, improved immunity, and prevention of cerebrovascular and cardiovascular diseases, among others.

Over the past decade, several studies have revealed that astaxanthin can play an important role in preventing photoaging, improving sleep, minimizing obesity, protecting vocal cord, combating depression, and increase sperm motility, among others.

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