According to the new market research report by IndustryARC titled “Astaxanthin Market: By Product Type (Synthetic Astaxanthin, Astaxanthin Rich Paracoccus Bacteria, Pluviallis Microalgae Astaxanthin, Aematococcus); By Form (Liquid, Dry); By Applications (Dietary Supplements, Animal Health & Aquaculture, Cosmetics, Food & Beverages, Feed); By Source (Natural, Synthetic) & Geography – (2018-2023)”, the market will be driven by the rise in health-conscious populace and exponential demand for natural food coloring agents.
The Americas region holds the largest market share in the Astaxanthin Market However, Asia Pacific is estimated to have the highest growth. As the anti-ageing creams and other skin products are becoming much sought after than ever before, the usage of Astaxanthin becomes ubiquitous in this region. The key applications in this region include cosmetics and dietary supplements among others.
Selected Impact Analysis Done in the Full Report
Astaxanthin is responsible for the red color in many sea creatures such as crayfish, krill, and salmon. Astaxanthin gives red color to many sea creatures such as crayfish, krill and salmon their red color.
Astaxanthin has been reported in many studies for its high antioxidant and skin-friendly properties.
Paracoccus Bacteria, Astaxanthin Rich Phaffia Yeast, and Synthetic Astaxanthin are predominantly used in the aquaculture sector, while the Astaxanthin derived from H. Pluvialis microalgae is the main source for human applications such as food & beverages.
Excerpts on Market Growth Factors
Aquaculture and Animal feed are the major applications, while Carotenoid has been used for coloring fishes and improving the texture of animals.
Nutraceutical segment is anticipated to have a rapid growth during the forecast period.
Astaxanthin Softgels are estimated to register an agile growth rate during the forecast period.
Synthetic source will acquire a major share in the market.
Natural Sources are estimated to witness a swashbuckling over the forecast period.
Astaxanthin can be manufactured from natural sources. The high yield of carotenoid and low maintenance cost will drive the growth of natural sources, which in turn drives the growth of Astaxanthin.