Astaxanthin is a red pigment carotenoid that is obtained from natural sources such as microalgae, yeast, salmon, trout, krill, shrimp, crayfish, and crustaceans and from synthetic source like petroleum. This pigment produces an antioxidant effect which is 550 times stronger than vitamin E, and 6,000 times stronger than vitamin C. Astaxanthin offers benefits for various health conditions including inflammation, diabetics, cardiovascular, vision, and CNS conditions. Astaxanthin is also used for cosmetic purposes, owing to its skincare & anti-aging properties and it is also used for the fortification of foods & beverage products.
Market Industry Reports (MIR) has published a new report titled “Astaxanthin Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Astaxanthin Market is estimated to account for over US$ 610 million by 2019. The market is anticipated to grow at a CAGR of 6.5% from 2019 to 2030. The market growth can be attributed to several factors, which has led to its wide-scale adoption. The increasing adoption & use of natural ingredients and rising geriatric population are anticipated to further contribute to this substantial market growth between 2019 and 2030. However, the high cost of production is likely to restrain market growth to a certain extent.
Major Key Players of the Astaxanthin Market are:Cyanotech, PIVEG, Beijing Gingko Group, Divi’s Nutraceuticals, DSM, Fuji Chemical Industries Co., Valensa International, Otsuka Pharmaceutical Co., Ltd., AstaSupreme, and Algatech LTD, among others.
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