Astaxanthin Market Size, Competitive Landscape and Market Forecast - 2030

Market Overview:
Astaxanthin Market is expected to grow at a CAGR of 3.5% during the forecasting period (2023-2030).
Astaxanthin is a naturally occurring dark red carotenoid that is majorly found in aquatic animals such as krill, salmon, trout, shrimp, crustaceans, and crayfish. Astaxanthin has highly powerful lipophilic antioxidants, has no "pro-oxidant" property and it is approximately 500 times stronger than vitamin E. Consumption of astaxanthin provides several benefits such as improved ability to reduce oxidative stress, supports healthy cardiovascular activity, improves muscle strength & performance, and prevents premature skin aging and joint health.

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Market Dynamics
1. Increasing demand for high quality natural dietary supplements as a precautionary measure for various health diseases such as osteoarthritis, Type 2 Diabetes, Thrombosis, and others is the primary factor driving the global astaxanthin market.
2. Growing consumer awareness regarding product availability and its health-related benefits associated with the consumption of astaxanthin products is further expected to boost the market for astaxanthin globally during the forecast period.
3. Increasing production of salmon, shrimp, and trout and increased utilization of astaxanthin as a feed additive for respective species is additionally driving the global astaxanthin market.

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Segment Analysis:
• By Product Type
o Synthetic*
o Natural
• By Product Form
 Market Attractiveness Index, By Product Form
o Soft Gels*
o Capsules
o Powder
o Others
• By Application
o Dietary Supplements*
o Pharmaceuticals
o Cosmetics
o Food and Beverages
o Animal Feed
o Others

Company Profiles:
1. Algalif Iceland ehf.
2. Algorigin
3. Algatechnologies Ltd.
4. Bioastin
5. Astareal AB
6. Fujifilm Corporation
7. Cardax, Inc.
8. Solgar Inc.
9. Natural Factors Inc.
10. Algae Health Sciences

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