The Global Astaxanthin Market has been driven by its growing usage in the production of feed, supplements, food, health care products, and others. Moreover, it is estimated that the personal care product segment is set to witness the highest growth in the market due to increasing consumption of carotenoid pigments in different products such as anti-aging cream, lotions, perfumes, and others.
Global Key Players and Competition Analysis
Some of the prominent players operating in the Global Astaxanthin Market are Alga Technologies (Israel), BASF SE (Germany), Koninklijke DSM N.V. (the Netherlands), Fuji Chemical Industries Co., Ltd. (Japan), JXTG Nippon Oil & Energy Corporation (Japan), Heliae (the U.S.), Otsuka Pharmaceutical Co., Ltd.(Japan), Fenchem(CHINA), Parry Nutraceuticals(India), and Piveg, Inc. (the U.S.), among others.
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The Global Astaxanthin Market is bifurcated into source, form, process, and end-use. Based on source, the market is further categorized into natural and chemical. The chemical source segment is projected to witness a slow growth due to its growing replacement by natural pigments. The market by form is further categorized into dry and liquid astaxanthin. Based on process, the market is sub-divided into biological and chemical segments. The biological segment is anticipated to observe a stunning growth in the market over chemical products due to its ecofriendly and reliable nature.
The Global Astaxanthin Market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The Asia Pacific region has achieved a remarkable growth due to increasing population and rising per capita income. It is predicted that the rising awareness, and growing consumption of carotenoid pigments for human and animal nourishment are estimated to drive the market over the forecast period. The Latin American region is estimated to witness a recognized development in the market due to growing consumption of carotenoid pigments in the food, agriculture, and other sectors.
Among these, the natural source is estimated to witness a higher growth over the review period on account of its growing use in food supplements, cosmetics, and others. The chemical sources segment is projected to observe slow growth due to presence of toxic materials and harmful content offered by the product.
Browse the market data and information spread across 135 pages with 59 data tables and 15 figures of the report “Astaxanthin Market Research Report- Forecast to 2023” in-depth alongside table of content (TOC) at: Astaxanthin Market Research Report- Forecast to 2023| MRFR
November 27, 2017, Market Research Future Published a Half-Cooked Research Report on Global Astaxanthin Market.