Published Date:January 2021

The report "Global Astaxanthin Market, By Product Type (Astaxanthin Rich Paracoccus Bacteria, Synthetic Astaxanthin, and Aematococcus Pluvialis Microalgae Astaxanthin), By Production Technology (Chemical Synthesis (Harvesting, Microalgae Cultivation, Astaxanthin Extraction, and Drying) and Bacteria Fermentation), By Application ( Food & Beverages, Cosmetics and Animal Health & Aquaculture, and Dietary Supplements), and Region - Global Forecast to 2029" Global astaxanthin market is projected to grow from US$ 1.2 billion in 2020 to US$ 4.9 billion by 2029. The use of astaxanthin in the cosmetic sector and aquaculture sector is the main propelling factor for the development of target market. Moreover, astaxanthin has ascertained useful treatment for the diseases such as cognitive dysfunction, parkinson’s disease, alzheimer's disease, is the driving factor for the development of target market. Furthermore, the increase in practice of naturally obtaining astaxanthin in different food nutrient is the another factor boost the global market growth. However, excessive dosage of astaxanthin leads to stomach pain which is the main limiting factor for the target market.

Key Highlights:
•In May 2018, “Algatech” which is known as Algatechnologies Ltd, collaborated with Italian (R&D) Sphera Encapsulation S.r.l which is known as “Sphera” to develop advance astaxanthin functional ingredient format.

Key Market Insights from the report:

The global astaxanthin market accounted for US$ 1.2 billion in 2020 and is projected to register a moderate CAGR of 17.0 % over the forecast period. The market report has been segmented on the basis of application, end-user, and region.
•By product type, the global astaxanthin market is segmented into astaxanthin rich paracoccus bacteria, synthetic astaxanthin, and aematococcus pluvialis microalgae astaxanthin.
•By production technology, the global astaxanthin market is categorized into chemical synthesis (harvesting, microalgae cultivation, astaxanthin extraction, and drying) and bacteria fermentation.
•By application, the global astaxanthin market is divided into food & beverages, cosmetics and animal health & aquaculture, and dietary supplements.
•By region, The North America region is the leading region in the target market. The increasing in utilization of astaxanthin in aquaculture sector due to increase in sea food consumption is the main propelling factor for the growth of target market. Asia Pacific region is expected to rule the global market because of increase in intake rate of sea food over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Astaxanthin Market”, By Product Type (Astaxanthin Rich Paracoccus Bacteria, Synthetic Astaxanthin, and Aematococcus Pluvialis Microalgae Astaxanthin), By Production Technology (Chemical Synthesis (Harvesting, Microalgae Cultivation, Astaxanthin Extraction, and Drying) and Bacteria Fermentation), By Application ( Cosmetics and Animal Health & Aquaculture, Food & Beverages, and Dietary Supplements), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - forecast till 2029

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The prominent player operating in the global astaxanthin market includes Algatechnologies Ltd., Viva Labs AS, Otsuka Pharmaceutical Co. Ltd., Phasex Corporation, AstaReal AB, IGENE Biotechnology Inc., JX Nippon Oil & Gas Exploration Crop., Cyanotech Corporation, Valensa International LLC, and Spec-Chem Industry Inc.
https://www.prophecymarketinsights.com/market_insight/Global-Astaxa...