Astaxanthin Market Overview and Insights:

IMR posted new studies guide on Astaxanthin Market Insights with self-defined Tables and charts in presentable format. In the Study you may locate new evolving Trends, Drivers, Restraints, Opportunities generated via targeting market related stakeholders. The boom of the Astaxanthin marketplace became specifically driven with the aid of the growing R&D spending internationally.

Some of the Top Leading Key Players: working in the astaxanthin Market landscape are also anticipated to introduce the latest and eco-friendly bio-astaxanthin to acquire an edge over competitors. Many key players are anticipated to invest in R&D for new astaxanthin that is anticipated to find utilizations in the aquaculture space. For example, in December 2019, Japanese scientists disclosed that they have found a novel way to synthesize natural astaxanthin by using marine algae.Restraints High Manufacturing Cost For Natural AstaxanthinAstaxanthin can be incorporated naturally as well as synthetically. Synthetic astaxanthin is produced by various chemical formulations from petrochemicals products and is available at comparatively lower rates in the Market. Additionally, natural astaxanthin is made through fermentation and extraction methods involving several microorganisms such as bacteria, fungi, yeast, marine animals, and algae. This natural astaxanthin is comparatively tough to manufacture and is costlier than synthetic astaxanthin.Opportunities Increasing Demand For Natural AntioxidantsThere is a rising demand for natural carotenoids in their pure with compared to synthetic carotenoids, especially in the dietary supplements industry, owing to their high effectiveness and quality. The current process used for natural means of manufacture of carotenoids is limited and subject to contamination. These processes are costly, and hence, the costs of natural carotenoids such as beta-carotene and lycopene are almost three times higher than those of synthetic carotenoids.Challenges Strict Government Policies In Developed EconomiesThe regulatory issues for application areas of astaxanthin are witnessed to be different in all regions. FDA controls nutraceuticals under different norms and regulations in the United States. According to the Dietary Supplement Health and Education Act, 1994 (DSHEA), the producer must ensure that a nutraceutical-based product or ingredient is safe before it is a sale. Furthermore, the FDA is sanctioned to take action against any harmful product only after it reaches the Market. Thus, producers are required to make sure the product label and be transparent about information.Market Segmentation Segmentation InsightsBased on Source, the synthetic segment is projected to account for the largest share in the Market owing to mostly usage of synthetic astaxanthin in the aquaculture, poultry, pet food applications. It is manufactured by a highly complex method from petrochemicals and is feed to fishes to offer coloration. The application of synthetic astaxanthin in aquaculture for catering pigmentation to these species and cost-effectiveness may further support Market developmentBased on Application, the personal care and cosmetic segment dominates the Market and holds the maximum share compare to other application segments. Growing consumer preference for organic skincare products derived from natural raw materials which are chemical-free may expand product growth. Cosmetic product producers utilize it as an ingredient for several products such as body creams, sunscreens, lipsticks, and facial creams. The antioxidant properties offer in protecting the skin against the sun, heal damaged skin, overcome wrinkles and spots, improve skin elasticity, and also offer other cosmetic benefits. In addition, the growing demand for beauty & personal care products produced from natural sources such as Haematococcus Pluvialis microalgae for protection of skin from UV damage will boost segment demand. Astaxanthin increases blood flow and supports maintaining skin moisture. Its massive applications as a prominent ingredient by several spa owners and producers of cosmetic products in their therapies due to its skin-friendly and antioxidant characteristics will positively impact the industry outlookBased on Form, the liquid segment is projected to account for the largest share during the forecast period. Astaxanthin in the liquid form is applied for the production of soft gels, oil extracts, and bead lets. Additionally, liquid astaxanthin has several usages, such as syrups and texturing ingredients used in the food and beverage, and pharmaceutical industries. Liquid nutraceutical ingredients are tough to use while scaling and temperatureBased on Production Technology, microalgae cultivation dominates the Market over the forecast period. The microalga H. Pluvialis is the highest source of astaxanthin. It holds 5% of dried H. Pluvialis biomass, of which 90% incorporate astaxanthin. The production technology includes two stages such as the green stage and the red stage. In the green stage, a single-cell colony of microalgae is recognized to grow unstressed by normal cell division. An optimal growth environment is provided to the "green" algal cells for high growth. In the second stage, cells are placed through different stress conditions, such as high radiation intensity and switching in growth media. These environments result in the yield and accumulation of natural astaxanthin in the cells in the esterified form.Regional InsightsThe Asia Pacific region is projected to dominate the Market during the forecast period owing to growth in urbanization and rapid industrialization. Therefore, the consumption levels of astaxanthin vary from country to country and region to region. The rising preference among consumers for healthy food and the high demand for meat and seafood are some of the key factors for the development of animal feed usages of astaxanthin in the region. The Asia Pacific provides lucrative opportunities to producers and suppliers of astaxanthin, due to the cost advantage and high demand in this region. Additionally, rising financial assistance by the governments for the aquaculture industry with higher seafood consumption is anticipated to drive the Market in the region. Furthermore, the rapid growth of the pharmaceuticals, cosmetics, and aquaculture industries in India, China, Japan, and South Korea is expected to propel the product adoption rateNorth America region has anticipated faster growth owing to the presence of awareness programs by non-profit organizations, and the existence of the key Market players such as Cyanotech Corporation, Algae to Omega, Piveg, and others. For example, Natural Algae Astaxanthin Association (NAXA) is targeted at growing awareness about astaxanthin applications. Thus, such players have estimated to grow the regional Market shareThe Europe region is expected to considerable growth rate during the forecast period owing to key factors such as an increasing geriatric population, adoption of various technologies, and rising health consciousness among the individuals which helps to growth in the region.Players Covered in Astaxanthin Market BASF SE, BGG, Cyanotech Corporation, DSM, Fenchem, Lycored, Piveg, Algae to Omega, Wellgreen Technology, Cardax, INNOBIO, ALGA Technologies, Algix, EID-Parry Ltd, IGENE Biotechnology, MicroA AS, JX Nippon Oil, Energy Corporation, Astareal IncKunming biogenic, Divis Laboratories ltdOtsuka PharmaceuticalsAndOthers Major Players

The Global Astaxanthin Market was estimated at USD 783.15 Million in 2023, and is anticipated to reach USD 1659.25 Million by 2032, growing at a CAGR of 8.7% over the analysis period 2024-2032.

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Segmentation Analysis of the Astaxanthin Market

Astaxanthin Market Size by Type (Synthetic, Natural), Form (Powder, Liquid), Application (Feed, Supplements, Food, Other), and Region Global Market Analysis and Forecast, 2024- 2032


North America is Expected to Dominate the Market Over the Forecast period
 

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Key Industry Developments in the Astaxanthin Market:

Geographically, the distinctive analysis of consumption, revenue, market share, and growth rate of the subsequent areas:

• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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Strategic Points Covered in Table of Content of Astaxanthin Market:

Chapter One: Introduction
Chapter Two: Executive Summary
Chapter Three: Astaxanthin Market Landscape
Chapter Four: Astaxanthin Market by Type
Chapter Five: Astaxanthin Market by Application
Chapter Six: Company Profiles and Competitive Analysis
Chapter Seven: Global Astaxanthin Market by Region
Chapter Eight: Analyst Viewpoint and Conclusion
Chapter Nine: Research Methodology

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