According to a new market research report published by Global Insight Services “Astaxanthin Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Astaxanthin is a carotenoid pigment found in a variety of plant and animal species. It is a red-orange pigment that is responsible for the color of salmon, shrimp, and other seafood. It is also found in the feathers of some birds, the exoskeletons of crustaceans, and the scales of certain fish.
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Key Players
- Koninklijke DSM N.V.
- BASF SE
- Cyanotech Corporation
- Otsuka Holdings Co. Ltd.
- Divi’s Laboratories Ltd.
- Valensa International
Key Trends
There has been a recent trend in the development of astaxanthin supplements. These supplements are typically made from microalgae that produce astaxanthin. The microalgae are grown in large ponds and the astaxanthin is extracted from the algae.
Another trend in astaxanthin market is to develop more efficient methods of production. For example, new methods of extraction and purification are being developed. In addition, new strains of microalgae are being developed that produce higher levels of astaxanthin.
Key Drivers
There are several key drivers of the astaxanthin market. One of the most important drivers is the increasing demand for natural and organic products. This is due to the growing awareness of the potential health benefits of astaxanthin and its ability to replace synthetic ingredients in many products.
Another key driver is the increasing popularity of functional foods and supplements. This is because astaxanthin is a powerful antioxidant that can improve overall health and well-being. It is also being used in a variety of cosmetics and personal care products due to its anti-aging properties.
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Market Segments
By Source
- Natural
- Plants
- Yeast & microbes
- Marine animals
- Synthetic (Petroleum)
By Form
- Dry
- Liquid
By Method of Production
- Microalgae cultivation
- Fermentation
- Extraction
- Chemical synthesis
By Application
- Feed
- Dietary supplements
- Food & beverages
- Cosmetics
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