|
(Health-NewsWire.Net, August 23, 2021 ) The global astaxanthin market is projected to reach USD 965 million by 2026, from USD 647 million in 2021, at a CAGR of 8.3% during the forecast period.
Astaxanthin is recognized as the most powerful antioxidant in nature, wherein according to a 2019 report by NCBI, astaxanthin has established its benefits as a vital nutrient for human consumption. Its unique structure helps it to scavenge free radicals and protect the body against oxidative damage. Therefore, it is called super antioxidant. Apart from imparting antioxidant properties, astaxanthin is also beneficial to the eyes, heart, and skin, and has anti-cancer, anti-inflammatory, and anti-diabetic properties. Some of the key factors driving the growth of astaxanthin across the globe include beneficial effects on the healthcare sector, the growth of the end-user industries, and rising innovative technology developments for the extraction of astaxanthin.
Download PDF Brochure
The natural astaxanthin is projected to witness the highest growth during the forecast period.
The natural segment is projected to witness high growth as astaxanthin extracted from natural sources offer enhanced antioxidant properties as compared to synthetic astaxanthin. In addition, consumers are willing to spend more to get higher-quality products. Astaxanthin derived from natural sources is majorly utilized for human consumption as a nutraceutical ingredient and dietary supplements. As the demand for natural astaxanthin is increasing, manufacturers are focusing on extracting astaxanthin from micro-algal sources, which is a cheaper process as compared to the traditional extraction from botanical materials.
The feed application dominated the market, with a share of 65.5% in 2020.
Astaxanthin is majorly used in feed and intensifies the pigmentation of fish and crustaceans, which are reliant on astaxanthin intake, as they cannot synthesize the carotenoid themselves. The increasing livestock population and the growing demand for meat and meat products and fish among consumers are expected to drive the market growth for astaxanthin in the feed segment. Animal feed manufacturers tend to attain more output from animals, due to which various nutritious ingredients are used in animal feed. Using nutritional supplements that offer physiological and microbiological benefits in the digestive system of livestock & companion animals is becoming more prevalent in the modern feed and pet care industries.
China dominated the Asia Pacific market for astaxanthin with a share of about 40.4% in 2020.
The emerging economy of China makes it as one of the major markets for astaxanthin, owing to its use in aquafeed, which is considered a high-value industry in the region. Additionally, China is the outright leader of astaxanthin in the region as it has a huge number of astaxanthin manufacturers such as Fenchem Biotek Ltd., Beijing Gingko Group, and Yunnan GinkoAsta Biotech Co., Ltd. The increasing purchasing power of consumers due to economic development in China has led to rising demand for high-quality processed foods. Hence, being a health food additive, the market for astaxanthin is projected to grow in China in the next few years.
Make an Inquiry
Key players in this market include Koninklijke DSM N.V. (the Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Otsuka Holdings Co. Ltd. (Japan), Divi’s Laboratories Ltd. (India), Valensa International (US), Fuji Chemical Industries Co. Ltd. (Japan), Beijing Gingko Group (China), Cardax, Inc. (Denmark), Piveg, Inc. (US). Some of the other players are Fenchem Biotek Ltd. (China), Algatech Ltd. (Israel), Supreme Biotechnologies (New Zealand), Igene Biotechnology Inc. (US), Algamo (Czech Republic), Biogenic Co., Ltd. (Japan), Astamaz NZ Ltd. (New Zealand), Algalif (Iceland), Algae to Omega (US), and Algae Health Sciences, Inc. (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
|
