Astaxanthin Market Growth Opportunities, Current Industry Status, Emerging Trends, Size, Share, Development, Sources, Global Forecast To 2023
Market Overview:
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.
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Astaxanthin Market is a naturally occurring pigment. It is a reddish color pigment belongs to a family of carotenoid pigments. It has various significant properties such as excellent UV resistance, antioxidant, anti-aging, and reliable nature. It is used to provide the flexibility, comfort, and biocompatibility nature to the product.
Competitive Analysis:
Some of the major players functioning 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)
- Piveg, Inc. (the U.S.)
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Market Segmentation:
The Global Astaxanthin Market is segregated into source, form, process, and end-use. Based on the source, the market is further categorized into natural and chemical. The most widely used source in the market is natural segment due to its growing consumption in feed, food, agriculture, and others. It is predicted that the chemical source segment may witness slow growth due to growing substitution of synthetic products by natural materials over the forecast period. Based on form, the market is sub-divided into dry and liquid astaxanthin.
Based on Process, the market is segmented into biological and chemical. Between these, the biological segment is anticipated to observe a rapid growth due to its ant-toxic, reliable nature over chemical products.
Segmental Analysis:
The Asia Pacific region is estimated to witness a higher growth due to fast growing countries such as China, Japan, and India owing to growing demand for carotenoid pigments in feed, food, and health care products. A rapid development is observed in the European region owing to the extensive use of pigments in the healthcare, supplements, and bio-tech industries. Moreover, it is projected that the feed and food segments are set to grow at a rapid rate in the market due to anti-toxic and comfort abilities offered by the product.
The Global Astaxanthin Market is spanned across five key regions of the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America holds a major portion of the global market and is anticipated to continue its dominance due to rising demand for astaxanthin in various applications. The U.S., Canada, and Mexico are the major players in this region.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview Of Global Astaxanthin Market
6 Market Trends
7 Global Astaxanthin Market By Source
8 Global Astaxanthin Market By Form
9 Global Astaxanthin Market By Process
10 Global Astaxanthin Market By End-Use
To Be Continue……
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