Astaxanthin Market size to exceed $880mn by 2026

Astaxanthin Market size is set to surpass USD 880 million by 2026; according to a new research report by Global Market Insights, Inc.

The astaxanthin industry outlook may witness significant growth from 2019 to 2025 owing to the increasing consumer inclination towards natural ingredients in various end use applications. Astaxanthin is 6000 time stronger than vitamin C in regard to its antioxidant power. The product possess benefits on various health conditions including diabetics, inflammation, cardiovascular and CNS conditions. The product has been widely used in aquaculture industry for pigmentation of trout, shrimps and salmon. The rising demand for natural antioxidants in animal and human nutrition and its expanding end use applications are the key factors fueling the market demand.

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Rising demand for natural supplements to promote natural extraction process for astaxanthin production

Astaxanthin Market Statistics

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Extraction of product naturally from algae is the main source in the aquatic food chain. Haematococcus pluvialis produces the maximum concentrations of astaxanthin. Natural product is 20 times stronger than synthetic which act as an antioxidant. Technological developments in production process produces high quality yield with fewer wastage. Global astaxanthin market demands from natural source was valued at over USD 385 million in 2018.  Drying, cultivation and extraction are widely accepted procedures preferred for optimal source utilization. Microalgae cultivation method has increased more purchase in the market outlook.

Food & Beverage applications to witness significant gains for astaxanthin consumption

Consumers are preferring key nutrients form food & beverages products that offer natural ingredients like antioxidants. It is used in the food and beverage industry that helps in improving immunity, heart health, joint health and boosting up the energy. Global market demands from food & beverage application may witness gains up to 2% by 2025. It is widely used as food colorant and is recognized safe under GRAS for its use in beverages, chewing gum, baked goods, cereals, coffee, dairy product and juices at a level to offer 0.1mg per serving.

Furthermore, consumption of foods high in antioxidant averts the chain reactions in the body which are started by presence of free radicals. Consumption of food products such as berries, nuts, herbs and grains are rich in antioxidant properties which aid in maintaining good health. Consumers opt for these food products which are high in antioxidants is said to prevent conditions such as alzheimer’s and cancer.

Browse key industry insights spread across 275 pages with 417 market data tables and 18 figures & charts from the report, “Astaxanthin Market Size by Source (Synthetic, Natural), By Application (Dietary Supplements, Personal Care, Pharmaceuticals, Food & Beverages, Animal Feed {Aquaculture, Livestock, Pets}), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:

Rising demand for beauty & personal care products to promote North America astaxanthin industry growth

Rising geriatric population in the region which represents 7% of the overall population may boost demand for cosmetic products. Increasing popularity of organic plant-based cosmetic products among women for skin nourishment likely to propel market growth. U.S. astaxanthin market form personal care may exceed significant gains up to 3% by 2025. The product has an effective UV-blocking property that assistance shields human skin from sun related harm. It is additionally advantageous in decreasing wrinkles and in enhancing skin dampness levels.

Rising consumer consciousness regarding negative impact of synthetic chemical products will support naturally sourced product demand from personal care industry. North America region was estimated to hold 24% share in the global cosmetic market. Astaxanthin has normal mitigating properties and characteristic types of astaxanthin pieces incendiary COX2 chemicals and furthermore stifling serum levels of interleukin 1B, nitric oxide and TNF-alpha supporting the market growth.

Increasing trends towards naturally sourced aquaculture feed to accelerate astaxanthin demand in Europe

Products of fisheries and aquaculture play a vital role in European food supply coupled with decrease in red meat consumption which have improved the market positioning. Germany astaxanthin market from natural source was valued at over USD 8 million in 2018. European region demand for natural source of product is increasing owing to stringent government regulations, henceforth percent share of natural astaxanthin is significantly higher than other regions. The manufacturers in the region develop and adopt new treatment methods for extraction of astaxanthin to avoid production losses, thereby supporting the market growth.

Increasing government support for indorsing aquaculture is further strengthening the product demand as a pigment coloring agent. Furthermore, the sanctions granted by international food agencies and European Food Safety Agency will support the astaxanthin industry size. European Union mandatory regulation related to additives approval before it can be used as feedstuff has led to complex situations among product manufacturers.

The companies are expanding their business by enhancing their product portfolio and through joint ventures. Manufacturers in the global market are also indulged in partnerships to deliver new innovations to advance their products. Major key players include Algaecan biotech, INNOBIO, Fennchem Biotek, U.S. Nutraceuticals LLC, BGG, DSM, Kunming Biogenic, Valensa, Cardax and Algix.

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