{"id":40512,"date":"2023-12-27T12:50:07","date_gmt":"2023-12-27T12:50:07","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/astaxanthin-market-size-worth-usd-9-21-billion-in-2032-emergen-research\/"},"modified":"2023-12-27T12:50:07","modified_gmt":"2023-12-27T12:50:07","slug":"astaxanthin-market-size-worth-usd-9-21-billion-in-2032-emergen-research","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/astaxanthin-market-size-worth-usd-9-21-billion-in-2032-emergen-research\/","title":{"rendered":"Astaxanthin Market Size Worth USD 9.21 Billion in 2032 | Emergen Research"},"content":{"rendered":"
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Vancouver, Dec. 27, 2023 (GLOBE NEWSWIRE) — The global astaxanthin market<\/u><\/a> size was USD 1.94 Billion in 2022 and is expected to register a rapid revenue CAGR of 16.8% during the forecast period. Key drivers include the increasing consumer preference for nutraceuticals, the rapid industrialization of the feed industry, and a rising demand for natural antioxidants and cosmetics. Astaxanthin, a reddish pigment found naturally in some algae, is recognized for its health benefits, including immune system support, inflammation reduction, and cognitive health. The market is further propelled by the growing popularity of yeast\/fungi-based and synthetic astaxanthin.<\/p>\n

The global astaxanthin market spans various industries, including nutraceuticals, cosmetics, pharmaceuticals, aquaculture & animal feed, and Food & Beverages (F&B). The Natural Algae Astaxanthin Association (NAXA) actively promotes the benefits of natural astaxanthin across diverse applications.<\/p>\n

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However, challenges such as strict regulatory standards, high costs, limited R&D activities in developing countries, and potential side effects pose constraints. Recent studies indicating a potential link between high astaxanthin consumption and prostate cancer risk highlight the importance of cautious use.<\/p>\n

Source Insights:<\/strong><\/p>\n

In 2022, the natural segment dominated the global astaxanthin market, accounting for the largest revenue share. This is attributed to the antioxidant activity and health advantages of natural astaxanthin, including immune system support and inflammation reduction. The rising demand for natural astaxanthin in nutraceutical applications and its use in cancer treatment contribute to the segment’s growth. Leading market players, such as NextFerm and Beijing Gingko Group, actively engage in developing novel products, expanding applications, and creating new opportunities.<\/p>\n

Product Form Insights:<\/strong><\/p>\n

The dried algae meal or biomass segment is anticipated to hold a significant revenue share during the forecast period. This is driven by the advantages of dry astaxanthin, including ease of handling, transport, and usage, as well as extended shelf life. The softgel segment is expected to register the fastest growth due to its stability, wide applicability, and collaborations between market players. For instance, NextFerm and Soft Gel Technologies introduced Astaferm, a novel astaxanthin component designed for softgel applications.<\/p>\n

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Application Insights:<\/strong><\/p>\n

The aquaculture & animal feed segment is projected to lead in revenue share, supported by the increasing use of astaxanthin as a feed additive in the growing aquaculture industry. In 2023, China is expected to be the world’s largest seafood producer, enhancing the demand for astaxanthin in animal feed. The nutraceuticals segment is expected to grow steadily, driven by the antioxidant capabilities of astaxanthin and its positive impact on cells, free radicals, and oxidative stress.<\/p>\n

Regional Insights:<\/strong><\/p>\n

North America claimed the largest revenue share in 2022, attributed to the rising prevalence of nutrient deficiency disorders and new product launches by major market players. Europe secured the second-largest share due to increasing nutrition awareness and regulatory expansions for astaxanthin-rich foods. The Asia Pacific region is poised to register the fastest growth, driven by the rising demand for astaxanthin products, increased R&D spending, and health-conscious consumer preferences.<\/p>\n

Scope of Research <\/u><\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Report Details<\/strong><\/td>\nOutcome<\/strong><\/td>\n<\/tr>\n
Market Size in 2022<\/td>\nUSD 1.94 Billion<\/td>\n<\/tr>\n
CAGR (2023\u20132032)<\/td>\n16.8%<\/td>\n<\/tr>\n
Revenue Forecast To 2032<\/td>\nUSD 9.21 Billion<\/td>\n<\/tr>\n
Base Year For Estimation<\/td>\n2022<\/td>\n<\/tr>\n
Historical Data<\/td>\n2019\u20132021<\/td>\n<\/tr>\n
Forecast Period<\/td>\n2023\u20132032<\/td>\n<\/tr>\n
Quantitative Units<\/td>\nRevenue in USD Billion and CAGR in % from 2023 to 2032<\/td>\n<\/tr>\n
Report Coverage<\/td>\nRevenue forecast, company ranking, competitive landscape, growth factors, and trends<\/td>\n<\/tr>\n
Segments Covered<\/td>\nSource, product form, grade, production technology, application, and region<\/td>\n<\/tr>\n
Regional Scope<\/td>\nNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa<\/td>\n<\/tr>\n
Country Scope<\/td>\nU.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa<\/td>\n<\/tr>\n
Key Companies Profiled<\/td>\nBASF SE, Divi’s Nutraceuticals, Cyanotech Corporation, DSM Nutritional Products AG, Parry Nutraceuticals., JX Nippon Oil & Gas Exploration Corporation, Fuji Chemical Industries Co., Ltd., Valensa International., Fermenta Biotech Limited, Algalif Iceland ehf., AstaReal Co., Ltd., BGG World, Cardax, Inc., Algatech LTD, Mitacs., Otsuka Pharmaceutical Co., Ltd., INNOBIO Corporation Limited, Sinoway Industrial Co., Ltd., PIVEG, Inc., and FENCHEM<\/td>\n<\/tr>\n
Customization Scope<\/td>\n10 hours of free customization and expert consultation<\/td>\n<\/tr>\n<\/table>\n

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Major Companies and Competitive Landscape <\/u><\/strong><\/p>\n

The global astaxanthin market is fragmented with many medium and large-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing advanced astaxanthin products in the market. Some major players included in the global astaxanthin market report are: <\/p>\n