The report analyzes factors affecting the astaxanthin market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the astaxanthin market in these regions.
Rising awareness regarding nutraceuticals along with increasing consumer spending on personal care and cosmetic products are the major factors propelling the growth of astaxanthin market. Moreover, benefits offered by astaxanthin such as brain health improvement, maintenance of skin glow, and healthy vision further boost the astaxanthin market demand from the cosmetic industry. Furthermore, the approval of astaxanthin by the U.S. FDA as generally recognized as safe for dietary supplements and approval from various European food agencies has resulted in the growth of astaxanthin market. However, an excessive cost associated with the production and extraction process is primary factors restraining the growth of the market over the forecast period. The probability of adulteration in the product along with clean label requirements may pose a further challenge to the industry participants.
Astaxanthin is a natural pigment found in a variety of foods. Astaxanthin has a reddish color and has been shown to speed up treatment of complex diseases like Alzheimer's and Parkinson's. In particular, this beneficial pigment lends its vibrant red-orange color to foods like krill, algae, salmon, and lobster. It is found in supplement form and is approved for use as a food coloring in animal and fish feed. Astaxanthin helps to improve brain health, keeps skin glowing, eases inflammation, boosts male fertility and enhances the workout. Astaxanthin is an antioxidant. That means it helps reduce the natural process in the human body called oxidation.
The reports cover key developments in the astaxanthin market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from astaxanthin market are anticipated to lucrative growth opportunities in the future with the rising demand for astaxanthin in the global market. Below mentioned is the list of few companies engaged in the astaxanthin market.
1. AstaReal Holdings Co., Ltd.
3. BASF SE
4. Beijing Ginko Group
5. Cardax, Inc.
6. JXTG Nippon Oil & Energy Corporation
7. KeyNatura ehf
8. PIVEG, Inc.
9. Royal DSM
10. Valensa International
The global astaxanthin market is segmented on the basis of source, form, and end-use. On the basis of source, the astaxanthin market is segmented into natural and chemical. On the basis of form, the astaxanthin market is bifurcated into oil, powder, soft gels and others. The astaxanthin market on the basis of the end-use is classified into supplements, animal feed, food, health care products and, others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global astaxanthin market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The astaxanthin market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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