DUBLIN--(BUSINESS WIRE)--Apr 29, 2021--

The global astaxanthin market size is expected to reach USD 4.06 billion by 2028

Owing to its inflammatory properties it helps in pain reduction in joints, muscles, and tendons in patients suffering from chronic arthritis. Moreover, the rising prevalence of cognitive health disorders, diabetes, and cardiovascular diseases is also expected to favor market growth for astaxanthin. Astaxanthin helps in continuous blood flow in patients suffering from diabetes and high blood pressure.

In 2020, the natural market segment of the astaxanthin industry held the largest share and is likely to grow at a rapid pace over the assessment period. It is produced from naturally produced algae and yeasts and is largely popular in the biotechnology market, owing to its huge demand in pharmaceutical, feed, and nutraceuticals fields. Moreover, high carotenoid content, low maintenance cost, and rising demand for natural food supplements also boosting the market segment demand over the coming years.

Significant advancements in culture conditions, supported with technical abilities of OMICS, and health benefits offered by astaxanthin and carotenoids also fueled the segment's growth. The growing demand for natural food supplements and negative perception of chemical products also projected to favor its growth. Most of the key players in the market for astaxanthin, such as BGG and Cyanotech, are strongly focusing on innovative technologies such as microalgae cultivation and concerned harvesting procedures.

Companies in the market for astaxanthin are focusing on innovation to enter into a promising sector. In this line, the Israel-based company, NextFerm Technologies Ltd., introduced AstaFerm. The product is the natural astaxanthin obtained through an innovative yeast fermentation process. This is a potent, odor, flavor-free, and free-flowing material. This is regarded as an effective antioxidant with proven potential towards immune reactions while maintaining faster recovery.

Companies Profiled

  • Cyanotech Corporation
  • Solix Algredients
  • JX Nippon Oil and Energy Corporation
  • IGENE Biotechnology Inc.
  • Micro AS
  • Beijing Gingko Group (BGG)
  • BlueOcean NutraSciences Inc.
  • Fuji Chemical Industry Co. Ltd.
  • Algae Health Sciences
  • Fenchem
  • EID-Parry (India) Ltd.
  • Algatechnologies.

The report has segmented the astaxanthin market report on the basis of source, product, application, and region:

Astaxanthin, Source Outlook

  • Natural
  • Yeast
  • Krill/Shrimp
  • Microalgae
  • Others
  • Synthetic

Astaxanthin, Product Outlook

  • Dried Algae Meal or Biomass
  • Oil
  • Softgel
  • Liquid
  • Others

Astaxanthin, Application Outlook

  • Nutraceuticals
  • Cosmetics
  • Aquaculture & Animal Feed
  • Others

Astaxanthin, by Regional Outlook

  • North America
  • U.S.
  • Canada
  • Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
  • Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
  • Malaysia
  • Central & South America
  • Mexico
  • Brazil
  • Argentina
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

For more information about this report visit https://www.researchandmarkets.com/r/l92k1l

Laura Wood, Senior Press Manager

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KEYWORD:

INDUSTRY KEYWORD: CHEMICALS/PLASTICS FITNESS & NUTRITION HEALTH MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 04/29/2021 09:41 AM/DISC: 04/29/2021 09:41 AM

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Copyright Business Wire 2021.