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Astaxanthin Market to Record Steady Growth by 2022


iCrowdNewswire   Jun 5, 2020  3:00 PM ET

The demand for astaxanthin is experiencing an upward surge, owing to its varied functions and end-use applications

Astaxanthin is a carotenoid found in marine organisms such as microalgae, crustaceans, salmon, and trout. It protects these animals from environmental stress, especially physicochemical stress. It also imparts these organisms with their distinct color. Astaxanthin is recognized as a super-oxidant and, due to its potent antioxidant activity, it can be advantageous against an array of health problems such as cardiovascular diseases, poor immunity, inflammatory disorders, muscle problems, and neurological disorders. These benefits help astaxanthin carve a market for itself in the supplement and food industries. The cosmetic industry is also using the antioxidant and anti-inflammatory properties of astaxanthin that are beneficial for the skin and eyes.

The global market for release agents is projected to reach USD 814.1 million by 2022, recording a CAGR of 8.02%

The global astaxanthin market, in general, and the natural astaxanthin market, have expanded in the past few years. Astaxanthin finds application in feed, supplements, food, and cosmetics. Feed predominated uses synthetic astaxanthin. Natural astaxanthin is increasingly being used in supplements, food, and cosmetics, leading to high demand for natural astaxanthin.

Expanding end-use applications of astaxanthin, rising awareness about preventive healthcare & nutraceuticals, growing demand of natural antioxidants, an ever-rising demand from emerging nations, the growing cosmetic & feed markets, and government initiatives to support aquaculture are among factors boosting the demand for astaxanthin.

Significant increase in demand for natural ingredients drive the market for naturally-sourced astaxanthin

Astaxanthin can be produced naturally or synthetically. Regardless of its abundant presence in natural sources, the traditional method of producing astaxanthin was chemical synthesis from petrochemicals. However, due to the recent shift in the market toward “all-natural ingredients,” natural astaxanthin sources such as algae, yeast, and marine animals are increasingly being used for its production. Synthetic astaxanthin is economical as compared to natural astaxanthin, and hence, dominates the market. However, despite its high cost, the natural astaxanthin market is growing at an exponential rate. It is soon expected to overtake the market for its synthetic counterpart.

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Geographical Prominence

The Asia Pacific region dominates the astaxanthin market, accounting for USD 201.4 million in 2016. A dramatic increase in the demand for astaxanthin is observed worldwide due to the growing consumer awareness about health. This can be attributed to the various health benefits of natural astaxanthin. Many clinical research papers have been published about the use of astaxanthin against diseases such as cancer, cardiovascular diseases, and exercise-induced fatigue. These beneficial effects have driven the demand for astaxanthin in the nutraceutical, pharmaceutical, and functional food industries. Commercial production of astaxanthin occurs in Europe, the US, India, China, and Israel. Many manufacturers have increased their production capacity, with some even tripling cultivation capacities considering huge demand.

Conclusion

Astaxanthin is recognized as the most powerful antioxidant in nature, wherein recent studies have established its benefits as a potent antioxidant for human consumption. Its unique structure helps it to scavenge free radicals and protects the body against oxidative damage. Owing to these reasons, it is called a “super-antioxidant.” Apart from imparting antioxidant properties, astaxanthin is also beneficial to the eyes, heart, skin, and has anti-cancer, anti-inflammatory, and anti-diabetic properties. The expanding end-use applications of astaxanthin, rising awareness about preventive healthcare & nutraceuticals, growing demand of natural antioxidants, an ever-rising demand from emerging nations, the growing cosmetic & feed markets, and government initiatives to support aquaculture are among factors boosting the demand for astaxanthin.

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