Astaxanthin belongs to xanthophyll family of carotenoids pigment. It mostly occurs in trout, microalgae, yeast, and shrimp, among other sea creatures. It is reddish colored pigment which happens in certain algae and causes the pink or red color in salmon, trout, lobster, shrimp, and other seafood. Astaxanthin is used to treat Alzheimer's disease, Parkinson's disease, stroke, high cholesterol, liver diseases, age-related macular degeneration (age-related vision loss), and preventing cancer. Additionally, it is used for metabolic syndrome as well as to improve exercise performance. It can be applied directly to the skin to protect against sunburn, to reduce wrinkles, and for other cosmetic benefits.
Astaxanthin Market: Key Players
The research study includes profiles of leading companies operating in the global Astaxanthin market. Key players profiled in the report include: Koninklijke DSM N.V., BASF SE, Cyanotech Corporation, Otsuka Pharmaceutical Co., Ltd., Valensa International, Fuji Chemical Industries Co., Divis Laboratories Ltd., Beijing Ginko Group, Igene Biotechnology, Inc., and Piveg, Inc.
Drivers for the Global Astaxanthin Market:
Growing awareness about nutrition for healthy lifestyle and mounting preference for dietary supplements due to high hospitalization costs are the major factors powering the demand for astaxanthin as it acts as Nutraceuticals and natural antioxidants. It thus helps to treat chronic diseases, improve health, and delay the aging process which is at high prevalence. Also, Nutraceuticals have found a major application in the field of dermatology, driving the market of astaxanthin market. Cost-effective technologies are driving the production of synthetic astaxanthin.
Opportunities for the Global Astaxanthin Market:
Increasing pervasiveness of chronic diseases such as diabetes, cardiovascular diseases, cancer, and cognitive health problems will propel further growth of astaxanthin in near future. Cost-effective technologies can also create lucrative opportunities for synthetic astaxanthin. Its growing usage in food supplements will help this market to grow in near future.
Restrains for the Global Astaxanthin Market:
Not enough is known about its safe use during pregnancy and breast-feeding which can hamper this market.
Region Wise, Global Astaxanthin Market Analysis:
North America held maximum share in astaxanthin market due to the presence of awareness programs by non-profit organizations, and existence of the key market players. Additionally, it’s used as Nutraceuticals which is increasing in regions like US as people are shifting towards healthy lifestyle. Asia Pacific, on the other hand, is estimated to witness significant growth over the forecast period. This is attributed because of the presence of key manufacturers in China with technologically advanced operating facilities. In addition, growing awareness about astaxanthin among healthcare professionals, existence of a large population suffering from nutritional deficiency as well as chronic diseases, and a booming cosmeceutical industry that uses organic resources are some other key factors propelling market growth.
Global Astaxanthin Market: Product analysis
Global Astaxanthin Market: Application analysis
- Dietary Supplement
- Personal Care
- Food & Beverages
- Animal Feed
Global Astaxanthin Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East