Astaxanthin Market size to grow at a CAGR of over 7% from 2016 to 2023

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Astaxanthin Market size to grow at a CAGR of over
7 from 2016 to 2023 Global Market Insights Inc.
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Regional Analysis of Astaxanthin Market

• Aquafeed dominated the end-use industry demand
  and accounted for more than 40 of the total
  volume in 2014. U.S. is the dominant producer and
  accounts for more than 30 of the installed
  capacity.
• Global aquafeed market size was worth over USD 69
  billion in 2014 and is likely to grow at a CAGR
  of above 11 from 2016 to 2023.
• Haematococcus pluvailis represents the richest
  source of the product by accounting for over 3
  of astaxanthin, primarily in esterified form. It
  is also approved in Japan as pigment used for
  fish feeds. It is also approved by the U.S. FDA
  for dietary supplements and also approved in
  several European regions for human consumption.

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Application Analysis of Astaxanthin Market

• Increase in nutraceutical demand owing to
  consumer health benefits and nutrition is likely
  to drive astaxanthin market growth trend over the
  forecast period. Nutraceutical is likely to be
  the fastest growing application for this market.
• It is considered as a powerful anti-oxidant
  compared to beta carotene, lutein and lycopne.
• It is also much more effective for neutralizing
  free radical and proves to be beneficial. It
  provides health benefits such as immune system
  boost, cardiovascular disease and cataract
  prevention. 
• Increasing demand for skin care anti-ageing
  care products such as peels, creams and masks are
  likely to drive demand for cosmetic applications.
  It is reported to have multiple skin benefits and
  prove to be more effective than vitamin C.

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Competitive Market Share of Astaxanthin Market

• Production is concentrated in few countries which
  include the U.S., Israel, Japan and India.
• The U.S. is likely to be the dominant supplier
  over the forecast period. Japan, Israel India
  are witnessing huge import demand and are likely
  to increase market presence.
• Global synthetic astaxanthin market share is
  concentrated with DSM occupying the dominant
  position.
• Major companies have invested in many countries
  to enhance market position by establishing a
  distribution network along with supply chain
  agreements. Other major industry participants
  include ADM, Phasex Corporation, Cyanotech
  Corporation, Viva Labsa and Otsuka Pharmaceutical.

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