A new Report by Delvens, titled "Astaxanthin Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global astaxanthin market size was valued at USD 1,371.24 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.8% to 2028.
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Astaxanthin is a powerful antioxidant with health benefits and is considered to be 550 times stronger than antioxidants, such as vitamin E. Nutraceuticals provide the required dietary supplements with fewer adverse effects and are widely used in the prevention of diseases, such as cardiovascular diseases (CVDs), diabetes, and cancer.
Key Players of Astaxanthin Market
· AlgatechLtd.
· CyanotechCorp.
· AstaReal Group, CO2 GRO Inc.
· Beijing Gingko Group
· E.I.D. – Parry (India) Limited
· ENEOS Corporation
· FENCHEM
· MicroA
· NextFerm
· Algalif Iceland ehf and More
Regional Analysis
North America held a market share of over 36% in 2020 and is expected to maintain its dominance over the forecast period. This dominance can be attributed to the existence of an established nutraceutical industry, growing awareness about the use of astaxanthin, and the presence of a health-conscious population.
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Recent Developments
October 2020, Cyanotech Corp. launched BioAstin Hawaiian Astaxanthin, a novel delivery platform of a water-dispersible powder.
May 2018, Algalíf Iceland ehf expanded its presence in the Asia Pacific market with Astalífastaxanthin oleoresins and launched IceCaps soft gelatin capsules & Icelandic Harvest.
Astaxanthin Market is segmented into source, product, application and region.
On the basis of Source
· Natural
· Synthetic
On the basis of Product
· Dried algae meal or biomass
· Oil
· Softgel
· Liquid
· Others
On the basis of Application
· Nutraceuticals
· Cosmetics
· Aquaculture and animal feed
· Food
· Others
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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In addition to the market data for Astaxanthin Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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