Global astaxanthin market is on a verge to witness a tremendous leap in coming seven years on account of increasing concerns for health among the people around the globe due to increasing hectic and chaotic lifestyles specially in regions such as European Union Countries and the U.S. Asia Pacific and rest of the world is expected to grow significantly over the projected period. At present, European Union countries are expected to lead in global astaxanthin market demand which is projected to sustain in next seven years. Astaxanthin is naturally occurring reddish pigment categorized under a group of compounds named carotenoids. Astaxanthin has a wide array of applications around the globe including animal feed ingredients, antioxidant for human consumption, healthcare ingredients and medical industries. Quick recovery form wounds, boosting overall human stamina and endurance, and reducing joint and muscle soreness are expected to be the potential key drivers for the growth of astaxanthin market demand and these factors are anticipated to be critical for market sustainability over the forecast period. In addition, astaxanthin is considered as a good food additive in flavoring of several foods and beverages and a potential food additive for aquaculture and poultry feed purposes.
It is predicted that the demand for astaxanthin will rise rapidly over the forecast period by having such a huge potential in human consumption and improving health of people. Also, it is expected to gather more interest of consumers in astaxanthin market owing to its naturally occurring behavior other than algae and yeast.High cost of production, limited conventional technology availability for production, and lower raw material availability, are expected to be the potential restraints for the growing astaxanthin market demand over the forecast period. In addition, it is uncertain that this trend will be continuing or would be changing as per the market fluctuations in the emerging economies of North America, Asia Pacific and European Union countries.
For more information on “Global Astaxanthin Market Analysis”
In the past two years, it has been projected a rising trend towards natural ingredients usage including cosmetic markets and nutraceuticals. As a result, increasing concerns for consumer safety are anticipated to transform into human food chain. Global astaxanthin market demand is expected to derive from algae,which is further anticipated to incline rapidly in recent years owing to growing consumer approach to health concerning benefits of astaxanthin.
At present,key market players responsible for the production and distribution of astaxanthin globally include Chemical Synthesis,Harvesting, Microalgae Cultivation, Bacteria Fermentation, Drying and Astaxanthin Extraction, Alga Technologies, Cynotech, Algaetech International, Fuji Chemicals. North America is expected to be the main supplier of astaxanthin in next seven years. India, Japan, and Israel are anticipated to be the potential entrants in the global astaxanthin market as these countries have been experiencing the huge leap in exports of the product commercially in the past two years. In addition,astaxanthin is considered to be the potential supplement for human consumption as it is expected to be stronger, effective, and efficient than synthetic astaxanthin, which is anticipated to have a great rise in astaxanthin market demand over the forecast period.
On the other hand, the market growth is constrained owing to limited suppliers available in the market, lack of process and development in countries having emerging economies and the lack of recently discovered health aids of astaxanthin in multiple regions around the globe. At present, astaxanthin is expected to be known as only natural health supplement and food additive in various countries, regardless of the discovery of its multiple product ranges.
It is anticipated that astaxanthin market has a lot of potential and scope in medical field owing to its recently revealed health benefits. It is expected to have the potential for curing age related maculardeterioration diseases in additionto avoiding prostate cancer and providing optical health benefits. At present, there is no substitute to astaxanthin owing to its distinct characteristics, which is expected to make a rare and appreciated mark in the industry.
Request TOC of “Global Astaxanthin Market Analysis"
