Report Code: A06607 | Pages: NA | Mar 2023 | 3434 Views | ||
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Request Now !Astaxanthin is used as a dietary supplement. It is being regarded as a potential antioxidant that possesses ability to safeguard human cells from oxidation and inflammation. It is being used prominently as easily available and known to offer cardiovascular benefits. Astaxanthin is a carotenoid, which comes under the category of xanthophyll. It is a red color pigment which occurs naturally in some of the algae and causes pink color in sea foods like lobster, salmon, shrimp, and others. The product is showing significant market growth as it is effective when compared with other carotenoids like lycopene and lutein.Â
Market scope and structure analysis
        Report Metric |                        Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast units |  Value ($US) |
 Segments covered |  Source, Application, Form, and Region |
 Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA) |
 Companies covered | ALGA Technologies, Fuji Chemical Industries Company Limited, Algaecan Biotech, BGG, Algix, BASF, Cardax, Cyanotech Corporation, DSM, Fenchem, Divis Laboratories Limited, INNOBIO Limited, Kunming Biogenic Company Limited, JXTG Nippon Oil & Energy Corporation, Lycored, Otsuka Pharmaceutical Co. |
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Increase in prevalence of chronic diseases like cardiovascular issues, diabetes, and cancer is expected to boost the growth of the market as it is proven that astaxanthin helps increase the blood flow and reduce blood sugar among patients. Advancement in technology is also a key factor which drives the market growth.Â
However, higher cost involved in the extraction process is the prime factor responsible for the high price of the product. Also, the stringent regulations and guidelines for the usage of product in direct human consumption hamper the growth of the market.
The global astaxanthin market trends are as follows:
Based on the form, the liquid form segment is expected to grow during the forecast period. As in this form astaxanthin is used for multiple applications like as syrups and texturing agent which are being used in beverages, food products, and in pharmaceutical industries.Â
The region of Asia Pacific is expected to dominate the market in the coming years as there is increase in demand for healthy, nutritious, and fortified products. Change in eating habits owing to the present lifestyle of the consumers tends to drive the market growth in the specific region.
Key Segments Covered:
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Questions Answered in the Astaxanthin Market Research Report:
Astaxanthin Market Report Highlights
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Key Market Players | ALGA Technologies, Fuji Chemical Industries Company Limited,, Algaecan Biotech, BGG, Algix, BASF, Cardax, Cyanotech Corporation, DSM, Fenchem, Divis Laboratories Limited,, INNOBIO Limited, Kunming Biogenic Company Limited, JXTG Nippon Oil & Energy Corporation, Lycored, Otsuka Pharmaceutical Co. |
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