Natural astaxanthin a fat soluble red pigment, which serves as an antioxidant and as a powerful carotenoid. Natural astaxanthin market is expected to grow due to its high carotenoid count which is 20 to 30 times higher than compared to lutein, zeaxanthin, alpha-tocopherol, beta-carotene, and others. For instance, According to the National Center for Biotechnology Information (NCBI), side effect of lutein such as rash, hives, stomach cramps, yellow skin are expected to hamper the lutein market. As a result, other carotenoid containing pigments such as natural astaxanthin is expected to play as major substitute for carotenoids. The natural astaxanthin market is also expected to be propel due to its growing usage in nutraceuticals such as anti-ageing cosmetics, skin glow tablets, and others which provide anti-oxidant and skin friendly properties. Some of the cosmetics brands such as ASTAS and other companies such as L’ORÉAL, AlgaTechnologies Ltd., and others have incorporated natural astaxanthin as ingredient into their products, which is expected to propel the growth of natural astaxanthin market.
The natural astaxanthin are extracted through various techniques such as extraction, drying, and cultivation. Incorporation of new techniques is expected to boost the natural astaxanthin market during the forecast period. For instance, the sealed microalgae cultivation system is one of the latest technology incorporated by the various key players in the market. This technology leads to major reduction in agricultural residue, presence of foreign substances, and microbial contamination, increases yield and improves waste reduction. Furthermore, water regulation against pollution from various organizations such as UK Environmental Law Association and United States Environmental Protection Agency (EPA), is expected to boost the extraction of natural astaxanthin from marine life such as algae, krill, shrimp, red trout, crabs, and others. Owing to these factors, the natural astaxanthin market is expected to propel during the forecast period.
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Emerging Usage in End-Use Industry:
The natural astaxanthin market is expected to propel due to increasing consumption of healthy food and natural food supplements derived from natural sources as they contain more natural ingredients, easier absorption, and low adverse effects. Natural astaxanthin is expected to secure a higher market as it has high yield of carotenoid and low maintenance cost compared to other synthetic astaxanthin. Various companies such as Cyanotech Corporation and Beijing Ginkgo Group (BGG) are developing advanced technology for microalgae harvesting and cultivation which is expected to cover the high demand for dried algae biomass or meal which in turn is expected to boost the natural astaxanthin market. Additionally, its increasing usage as a food colorant and as carotenoids for various food items which helps to maintain or reduce various disorders such as Alzheimer’s disease, cardiovascular conditions, orthopedic disorders, ophthalmic conditions, Parkinson’s disease, and others are further playing a key role in driving market growth. Thus, natural astaxanthin is expected to propel during the forecast period due to high usage in healthcare and food ingredients.
North America is expected to be the most attractive market for natural astaxanthin throughout the forecast period from 2018 to 2025, while Asia Pacific is expected to be the fastest growing region for the natural astaxanthin market. North America market is expected to grow due to growing awareness towards the use of natural astaxanthin in nutraceuticals. The nutraceuticals sector is expected to drive the market for natural astaxanthin due to its usage in various skin products, natural oils, growing use in spa and wellness centers with high nutritional values compared to other synthetic materials. Owing to its flourishment in cosmeceutical production the natural astaxanthin market is expected to grow at a significant rate during the forecast period. The natural astaxanthin market is also expected to grow in North America due to its application in food, as lobsters, krills, and other sea foods could be consumed directly which provides anti-oxidant and other required carotenoids.
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The market players are more focused in business expansion and technological developments owing to strengthening its position for natural astaxanthin market. . For instance, in 2014, Algatech along with a German company SCHOTT AG, invested in a research and development agreement for closed tube cultivation system which is used for extraction process of natural astaxanthin.
Major players operating in the field of pea milk market include BASF SE, Nippon Oil & Energy Corporation, Beijing Ginkgo Group (BGG), Synthetic Genomics Inc., Algatech, Piveg Inc., and others
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