According to Stratistics MRC, the Global Astaxanthin Market is accounted for $695.94 million in 2020 and is expected to reach $1,356.47 million by 2028 growing at a CAGR of 8.7% during the forecast period. Factors such as increasing demand for cosmetic products, growing preference for dietary supplements, increasing prevalence of diabetes and cardiovascular diseases are driving the growth of the market. However, stringent guidelines regarding the product usage in various human consumption products are hampering the growth of the market.
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Based on the source, the natural source segment is going to have a lucrative growth during the forecast period owing to the increasing demand for natural food supplements coupled with the high yield of carotenoids. By geography, Asia Pacific is expected to grow at a faster rate during the forecast period due to the growing awareness about astaxanthin among healthcare professionals and the existence of a large population suffering from nutritional deficiency.
Some of the key players profiled in the Astaxanthin Market include BASF SE, Fuji Chemical Industries Co Ltd, Koninklijke DSM N.V., Cyanotech Corporation, Divis Laboratories Ltd, Otsuka Pharmaceutical Co Ltd, Algatechnologies, Valensa International, Supreme Biotechnologies, Igene Biotechnology Inc, AstaReal, Piveg Inc, Cardax Inc, Beijing Ginko Group (BGG), and Fenchem Biotek Ltd.
Sources Covered:
• Natural Source
• Petroleum (Synthetic)
Grades Covered:
• < 94%
• 95-97%
• > 98%
Methods of Production Covered:
• Bacterial Fermentation
• Chemical Synthesis
Forms Covered:
• Dry
• Liquid
Products Covered:
• Powder
• Tablet
• Dried Algae Meal or Biomass
• Carotenoid Complexes
• Emulsion
• Oil or Oleoresin
• Soft Gel
• Energy Drinks
Applications Covered:
• Pharmaceuticals
• Nutraceuticals
• Personal Care & Cosmetics
• Food & Beverage
• Animal Feed
• General Wellbeing
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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