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, 2019-2026.”
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.
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.
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:
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https://www.fortunebusinessinsights.com/astaxanthin-market-102110
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