DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Astaxanthin Market by Source (Plant, Yeast & Microbes, Marine, Petroleum), Form (Dry, Liquid), Method of Production (Biological Process, Chemical Process), Application (Feed, Supplements, Food, Cosmetics), and Region - Global Forecast to 2022" report to their offering.
The global astaxanthin market is projected to grow significantly from an estimated value of USD 553.6 million in 2017 to USD 814.1 million by 2022, at a CAGR of 8.02%
The astaxanthin market has been gaining importance due to its expanding end-use applications, rising awareness about preventive healthcare & nutraceuticals, and the growing demand for natural antioxidants in human and animal nutrition. Key players in the nutraceutical and cosmetic industries across the globe use astaxanthin due to its potent antioxidant activity, which confers benefits on the human health. Though the antioxidant property of astaxanthin drives the market, there are a few factors such as the high production cost of natural astaxanthin, adulteration, and government regulations, which restrain the growth of this market.
The application of astaxanthin in the dietary supplements industry accounted for the second-largest share in 2016, and is expected to grow at the highest CAGR during the forecast period. The numerous health benefits, such as cardiovascular and neurological health, offered by the super-oxidant property of astaxanthin, coupled with the growing nutraceuticals market, are the major drivers contributing to the exponential growth of dietary supplements segment.
Petroleum-derived astaxanthin accounted for the largest share in 2016; however, natural astaxanthin, derived from plants, microalgae, and marine animals is expected to grow at a higher CAGR compared to petroleum-based astaxanthin. Animal feed is the primary market which thrives on synthetic astaxanthin from petroleum, whereas human nutrition is majorly driven by natural astaxanthin.
The Asia-Pacific region was the largest regional market for astaxanthin in 2016. The growing awareness of the importance of antioxidants such as astaxanthin in the human diet, the high consumption of astaxanthin from the aquafeed industry, and increasing demand for antioxidants from food and supplement industries, contribute to the significant share of the Asia-Pacific region in the global astaxanthin market. Major markets in the Asia-Pacific region include China, India, and Australia-New Zealand.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Astaxanthin Market, By Source
7 Astaxanthin Market, By Application
8 Astaxanthin Market, By Form
9 Astaxanthin Market, By Method of Production
10 Astaxanthin Market, By Region
11 Brand Overview
12 Regulations Governing the Astaxanthin Market
13 Competitive Landscape
14 Company Profiles
Companies Mentioned
- Algatechnologies (Israel)
- Atacama Bio Natural Products S.A. (Chile, South America)
- BASF SE (Germany)
- BGG (Beijing Ginko Group) (U.S.)
- Blueocean Nutrasciences (Canada)
- Cardax Inc. (U.S.)
- Core Products Europe Ltd (U.K.)
- Cyanotech Corporation (U.S.)
- Divis Laboratories Ltd. (India)
- Fenchem Biotek Ltd. (China)
- Fuji Chemical Industries Co. Ltd (Japan)
- Igene Biotechnology Inc. (U.S.)
- Jx Nippon Oil & Energy Co. (Japan)
- Koninklijke DSM N.V (Netherlands)
- Nutramarks Inc (U.S.)
- Otsuka Pharmaceutical (Japan)
- Piveg Inc. (Mexico)
- Regenurex Health Corporation (Canada)
- Spec-Chem Industry Inc (China)
- Supreme Biotechnologies Nz Ltd (Nz)
- Valensa International (U.S.)
- Viva Naturals (U.S.)
For more information about this report visit http://www.researchandmarkets.com/research/v3jh4g/astaxanthin
