January 31, 2023

The global astaxanthin market size is expected to boost considering increasing shift towards health and fitness across several economies. Fortune Business Insights published this information, in its upcoming report, titled “Astaxanthin Market Size, Share & Industry Analysis, By Product Type (Natural, Synthetic), By Application (Aquaculture, Nutraceuticals, Food and Beverages, Others) Others and Regional Forecast, 2022-2029.”

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Astaxanthin is a type of pigment that is associated to a group of chemicals known as carotenoids. It is a naturally occurring reddish colored pigment mostly found in aquatic algae and results in the pink coloring of several fishes such as salmon, lobster, and shrimp. Furthermore, it has a wide application across several sectors such as food, beauty products, and others. In addition to this, it has a plethora of medicinal properties and is rich in antioxidants. Moreover, astaxanthin is beneficial to treat patients suffering from Alzheimer’s disease, stroke, and high cholesterol. Furthermore, fitness enthusiasts use it as supplements to improve exercise performance.

What does the Report Include?

The market report includes detailed information on market trends such as the drivers, restraints, opportunities, and challenges the market will go through between 2019 and 2026. The regional analysis includes in-depth details for the market information comprising several regions contributing for the growth of the market in the forthcoming years. Furthermore, the competitive landscape identifies several business and growth opportunities for the companies operating in the market. Moreover, our research analyst using several research methodologies that will boost the growth of the market during the forecast period has obtained the data from trusted sources.

Drivers and Restraints:

Adoption of Natural Astaxanthin to Propel Growth

Growing demand for natural astaxanthin across several sectors such as pharmaceutical and nutraceutical will drive the growth of the market during the forecast period. Additionally, wide use of natural astaxanthin in aquaculture, and cosmetic industries wing to its far more superior antioxidant properties will contribute to the growth of the market during the projected horizon. For instance, the green colored algae Haematococcus pluvialis is extensively used in commercial production of good quality astaxanthin. Moreover, in December 2019, Japanese scientists developed a novel way for producing natural astaxanthin with the help of marine algae that grows at a tremendous pace to meet the growing consumers demand across the globe. This will contribute to the growth of the market during the forecast period.

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Regional Analysis:

Rising Aquaculture Sector in North America to Drive Market

Among the regions, the market in North America will remain dominant during the forecast period. This is ascribable to factors such as rising aquaculture industry. Additionally, large consumer base preferring seafood in countries such as the U.S. and Mexico in North America will propel the growth of the market in the forthcoming years. Moreover, growing preference for healthy dietary supplements by the consumers in North America will boost the demand for the market during the projected horizon. Overall, the growing aquaculture industry in North America will bode well for the growth of the market in the forthcoming years.

Competitive Landscape:

Algalif Iceland ehf. Introducing New Product Line to Boost Expansion

Algalif Iceland ehf. , a leading supplier of natural astaxenthin, on May 2018, announced its introduction of wide range of astaxanthin capsules and several branded ice caps. The market consists of several companies operating to gain maximum astaxanthin market revenue during the forecast period. The highly fierce market has propelled the key players to adopt various strategies such as novel product launches, merger and acquisition, among others to gain market stronghold in the forthcoming years. Below is an industrial development for the market:

Industrial Development:

  • February 2019: Algatech Ltd. announces its launch of new ingredient to its portfolio of astaxanthin. The AstaPure Arava is a new nutraceutical whole-food and natural supplement that provides nourishment.

List of Companies Proliferating in the Market:

  • AstaReal, Inc.
  • Valensa International
  • Nu U Nutrition Limited
  • iHerb LLC.
  • Rudra Bioventures Private Limited
  • Icelanddirect Inc.
  • Peak Nutritional Products
  • Algatech Ltd.

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