According to the current analysis of Reports and Data, the global Astaxanthin Market was valued at USD 597.2 million in 2019 and is expected to reach USD 994.0 million by the year 2027, at a CAGR of 6.5%. Astaxanthin popularly taken as a supplement. It has been used safely in combination with other carotenoids, vitamins, and minerals at a considerable amount. Astaxanthin is a reddish pigment that belongs to a group of chemicals called carotenoids. It occurs naturally in certain algae and causes the pink or red color in salmon, trout, lobster, shrimp, and other seafood. Astaxanthin is consumed for treating Alzheimer’s disease, Parkinson’s disease, stroke, high cholesterol, liver diseases, age-related vision loss, and preventing tumors. It is also utilized in treating metabolic syndrome, which results in an increase in the risk of stroke and diabetes. It is also used for enhancing the overall workout performance, minimizing muscle damage after exercise, and diminishing muscle soreness after exercise. Moreover, astaxanthin is used to prevent sunburn, to improve sleep, and many other medical conditions.
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The report offers a comprehensive overview of the competitive landscape of the market to provide an advantage to the reader. This segment focuses on the initiatives and innovations adopted by the key players to gain a strong foothold in the market. The report also sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others, to offer a better understanding of the market. The report also offers insights into revenue, gross profit margin, financial standing, market position, product portfolio, and other vital aspects of each player. The report also includes a thorough SWOT analysis and Porter’s Five Forces analysis.
Key Players Profiled in the Report are:
Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Otsuka Pharmaceutical Co., Ltd. (Japan), Valensa International (US), Fuji Chemical Industries Co. (Japan), Divis Laboratories Ltd. (India), Beijing Ginko Group (China), Igene Biotechnology, Inc. (US), Piveg, Inc. (US), Fenchem Biotek Ltd. (US), Algatechnologies (Israel), Cardax, Inc. (US), and Supreme Biotechnologies (US).
The constant efforts of the prominent players to develop innovative products and technologies are driving the growth of the industry. Additionally, the market is witnessing numerous strategic collaborations and initiatives that are expanding the scope of the market. The report discusses in detail the factors and elements of the Astaxanthin market that are positively influencing the growth of the market.
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On the basis of source, the astaxanthin market has been segmented as follows:
- Natural Source
- Yeast & Microbes
- Petroleum (Synthetic)
On the basis of Application, the astaxanthin market has been segmented as follows:
On the basis of Form, the astaxanthin market has been segmented as follows:
- Dry Form
- Liquid Form
- Energy Drinks
On the basis of Method of Production, the astaxanthin market has been segmented as follows:
- Microalgae Cultivation
- Chemical Synthesis
The report offers clear insights into the regional bifurcation of the market with regards to the regions where the market has already established its prominence. Furthermore, it analyzes the key regions for production and consumption ratio, import/export analysis, supply and demand dynamics, regional trends and demands, and the presence of prominent players in each region. The regional analysis segments also offer a country-wise analysis to offer a panoramic view of the market.
The regional analysis covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The Astaxanthin Market Report Offers:
- Deep insights into the Astaxanthin market landscape
- Key details about the regional segmentation of the Astaxanthin market
- Analysis of the crucial market trends with regards to both current and emerging trends
- Comprehensive impact analysis of COVID-19 pandemic on the Astaxanthin industry
- Extensive overview of the key manufacturers and prominent players of the industry
- Comprehensive study of the market segmentation and recent developments
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