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 Corporation, PIVEG, Beijing Gingko Group, Divi’s Nutraceuticals, DSM, Fuji Chemical Industries Co., Valensa International, Otsuka Pharmaceutical Co., Ltd., AstaSupreme, and Algatech LTD, among others.
To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, In March 2019, Algatech, an Israeli astaxanthin supplier announced its partnership with a nascent topical product producer, For the Biome.
Various manufacturers are gradually adopting cosmetic products with natural ingredients, owing to its advantages. Additionally, improving lifestyles and awareness regarding the adverse effects of chemical products have led to the increasing demand for natural & organic cosmetic products among customers, which will lead to the overall market growth across the world.
The Astaxanthin Market is segmented on the basis of Types, Application and region.
Major Types of Astaxanthin Market covered are:
- Dry Form
- Liquid Form
Major Applications of Astaxanthin Market covered are:
- Nutraceuticals
- Animal Feed
- Cosmetics
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