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Astaxanthin Market Size Worth $2.57 Billion by 2025 | CAGR: 18.9%: Grand View Research, Inc.

Grand View Research
Posted on: 31 Jul 17

SAN FRANCISCO, July 31, 2017 /PRNewswire/ --

The global astaxanthin market is expected to reach USD 2.57 billion by 2025, according to a new report by Grand View Research, Inc. Adoption of advanced technologies in various stages of natural astaxanthin production, such as microalgae harvesting, cultivation, extraction, and drying, have been major factors driving market growth. Moreover, awareness about health benefits, safety, and potential uses of astaxanthin is another driving force. 

Rising geriatric population is estimated to result in an increase in the demand for cosmetics such as antiageing creams and antioxidant products for improving aesthetic appeal. Astaxanthin has been reported in many studies for its high antioxidant and skin-friendly properties. Due to this, many cosmeceutical manufacturers and wellness spa owners are using it in new products and associated therapies, which is also estimated to drive demand.

Browse full research report with TOC on "Astaxanthin Market Analysis By Source (Natural [Yeast, Krill/Shrimp, Microalgae] And Synthetic), By Product (Dried Biomass/Powder, Oil, Soft gels, Liquid), By Application, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/global-astaxanthin-market

Further key findings from the report suggest: 

Naturally produced astaxanthin dominated the production technology segment with a market share of 52.4% in 2016, owing to increasing awareness about its health benefits, safety, and multifunctionality.

Microalgae is estimated to be one of the largest and fastest growing natural source, owing to increasing use of H. pluvialis for production of high-grade astaxanthin

Adoption of technologically advanced procedures for manufacturing natural astaxanthin with less contamination and maximum yield is expected to fuel market growth

Dried algae meal or biomass held the largest market share by type of product in 2016 due to low production cost and high use in aquaculture and as animal food

Softgel capsules containing astaxanthin oil or powder are rapidly gaining acceptance as oral nutraceutical, and this is expected to fuel demand.

Based on application, aquaculture and animal feed dominated the market in 2016 with revenue of USD 220.0 million, owing to its increased usage in coloring fish and trout for quality enhancement

On the other hand, nutraceuticals are expected to witness lucrative growth over the forecast period due to factors such as high nutritional value, antioxidant properties, and low adverse effects

North America held the largest market share by region in 2016. Key factors for that can be attributed to its dominance are local presence of key manufacturers, increasing base of health-conscious population, and flourishing nutraceutical industry

Supportive government regulations, growth in population with nutritional deficiencies, and increasing liquidity in developing countries are key drivers anticipated to provide high growth opportunities to the Asia Pacific region.

Some of the major players of the astaxanthin market are Alga Technologies; Cyanotech Corporation; Fuji Chemicals Industry Co., Ltd.; BlueOcean NutraSciences, Inc.; MicroA AS; Fenchem; EID Parry (India) Ltd.; Beijing Gingko Group (BGG); Heliae Development, LLC; IGENE Biotechnology, Inc.; and JX Nippon Oil and Energy Corporation.

Browse related reports by Grand View Research: 

Biopharmaceutical Market - http://www.grandviewresearch.com/industry-analysis/biopharmaceutical-market

ePharmacies Market - http://www.grandviewresearch.com/industry-analysis/epharmacies-market

Non-Small Cell Lung Cancer Market - http://www.grandviewresearch.com/industry-analysis/non-small-cell-lung-cancer- market

Pharmaceutical Manufacturing Market -http://www.grandviewresearch.com/industry-analysis/pharmaceutical-manufacturing-market

Grand View Research has segmented the global astaxanthin market on the basis of source, type of product, application, and region. 

Astaxanthin Source Technology Outlook (Revenue, USD Million, 2014 - 2025) Natural production

Microalgae

Yeast

Krill/ shrimp

Synthetic production

Astaxanthin Type of Product Outlook (Revenue, USD Million, 2014 - 2025) 

Dried algae meal/biomass

Oil

Softgel

Liquid

Others

Astaxanthin Application Outlook (Revenue, USD Million, 2014 - 2025) 

Dietary supplement/ nutraceuticals

Cosmetics

Animal feed and aquaculture

Others

Astaxanthin Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025) North America

U.S.

Canada

Europe

UK

Germany

Asia Pacific

Japan

China

India

Latin America

Brazil

Mexico

Middle East & Africa

South Africa

Read Our Blog: http://www.grandviewresearch.com/blogs/healthcare

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: +1-415-349-0058
Toll Free: +1-888-202-9519
Email: sales@grandviewresearch.com

Web: http://www.grandviewresearch.com

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 31/07/2017

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