Astaxanthin is used as a dietary supplement. It is being regarded as a potential antioxidant that possesses ability to safeguard human cells from oxidation and inflammation. It is being used prominently as easily available and known to offer cardiovascular benefits. Astaxanthin is a carotenoid, which comes under the category of xanthophyll. It is a red color pigment which occurs naturally in some of the algae and causes pink color in sea foods like lobster, salmon, shrimp, and others. The product is showing significant market growth as it is effective when compared with other carotenoids like lycopene and lutein.
Market scope and structure analysis
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Source, Application, Form, and Region|
|Regions covered||North America (US, Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||ALGA Technologies, Fuji Chemical Industries Company Limited, Algaecan Biotech, BGG, Algix, BASF, Cardax, Cyanotech Corporation, DSM, Fenchem, Divis Laboratories Limited, INNOBIO Limited, Kunming Biogenic Company Limited, JXTG Nippon Oil & Energy Corporation, Lycored, Otsuka Pharmaceutical Co.|
COVID-19 Scenario Analysis:
- The closure of factories due to COVID-19 has led to the decline in the production of the astaxanthin in the industries. This not only affected the scale of production but also the growth of these industries.
- The online platforms, shops, and retail stores were shut due to lockdown observed worldwide. This also affected the trade of these products which in turn hampered the sales of astaxanthin in various countries around the world.
- The sale of astaxanthin is expected to boost after worldwide release of the lockdown situation due to COVID-19 due to the prevalence of healthy lifestyle.
Get a Sample Report at: https://www.alliedmarketresearch.com/request-sample/6972
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in prevalence of chronic diseases like cardiovascular issues, diabetes, and cancer is expected to boost the growth of the market as it is proven that astaxanthin helps increase the blood flow and reduce blood sugar among patients. Advancement in technology is also a key factor which drives the market growth.
However, higher cost involved in the extraction process is the prime factor responsible for the high price of the product. Also, the stringent regulations and guidelines for the usage of product in direct human consumption hamper the growth of the market.
The global astaxanthin market trends are as follows:
Demand for Astaxanthin in liquid form
Based on the form, the liquid form segment is expected to grow during the forecast period. As in this form astaxanthin is used for multiple applications like as syrups and texturing agent which are being used in beverages, food products, and in pharmaceutical industries.
The region of Asia Pacific is expected to dominate the market in the coming years as there is increase in demand for healthy, nutritious, and fortified products. Change in eating habits owing to the present lifestyle of the consumers tends to drive the market growth in the specific region.
Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6972
Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global astaxanthin industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global astaxanthin market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global astaxanthin market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global astaxanthin market analysis based on competitive intensity and how the competition will take shape in the coming years.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.