Pune, June 15, 2022 (GLOBE NEWSWIRE) -- The Global Astaxanthin Market is expected to clock US$ ~1321.3 million by 2031 owing to the benefits offered by astaxanthin and growing health consciousness among people.
Growth Factor
Prominent players are progressively implementing collaborative initiatives with several organizations, research centers & companies in order to encourage launch of innovative astaxanthin formulations. For instance, in June 2018, Fuji’s AstaReal and Transcend Nutressentials entered into partnership to develop new innovations in Astaxanthin ROS Scavenger formulations.
The global astaxanthin market has been analyzed from four different perspectives – Form, Source, Application, and Region.
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Increasing demand for nutraceuticals owing to growing health consciousness among people, booming cosmeceutical industry, and rising awareness about the benefits offered by astaxanthin are some of the pivotal factors propelling the growth of the astaxanthin market. However, high cost of astaxanthin owing to its high production cost is likely to restrain the market growth to a certain extent.
Astaxanthin has been proved very useful in treatment of various diseases and disorders. Astaxanthin can be used for treating Alzheimer’s disease, Parkinson’s disease, stroke, high cholesterol, liver diseases, age-related macular degeneration, and cancer prevention. It is also used to treat metabolic syndrome, a condition that can increase the risk of heart disease, stroke, and diabetes. Furthermore, it is also used to increase exercise performance, to reduce muscle damage after exercise, and to decrease muscle soreness after exercise. Moreover, it also used to prevent dyspepsia, sunburn, symptoms of menopause, rheumatoid arthritis, male infertility, and improve sleep.
Restraints
However, high costs of astaxanthin owing to its high cost of production may restrain the market growth to a certain extent. High cost of astaxanthin restricts its applications for a product with high added value such as food supplements and pharmaceuticals.
Excerpts from ‘By Application Segmentation’
The global astaxanthin market has been segmented majorly into five distinct categories depending on the application, viz. animal feed, pharmaceuticals, nutraceuticals, cosmetics, and others.
The Pharmaceuticals segment dominated the market with the largest share owing to its benefits in treating Alzheimer's disease, Parkinson's disease, stroke, high cholesterol, age-related macular degeneration (age-related vision loss), and preventing cancer.
Excerpts from ‘By Region Segmentation’
The global astaxanthin market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America is expected to command the largest share in the global astaxanthin market, followed by Asia Pacific, Europe & Rest of the World (RoW). Factors such as rising health consciousness among the population owing to increasing prevalence of chronic & acute diseases and presence of prominent players are attributed to the large share of North America in the global market.
Excerpts from ‘Competitive Landscape’
The prominent players operating in the global astaxanthin market are: -
- Divi's Nutraceuticals
- DSM Nutritional Products AG
- Algatech LTD
- Otsuka Holdings Co., Ltd
- Beijing Gingko Group
- Cyanotech Corporation
- Fuji Chemical Industries Co., Ltd
- Valensa International
- Asta Supreme
- Piveg, Inc
- Among others
Astaxanthin market segmentation:
Growth Plus Reports has segmented the global Astaxanthin market on the basis of Form, Source, Application, and Region:
Astaxanthin Market by Form
- Dry Form
- Liquid Form
Astaxanthin Market by Source
- Natural
- Synthetic
Astaxanthin Market by Application
- Animal Feed
- Pharmaceuticals
- Nutraceuticals
- Cosmetics
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