Astaxanthin Market Demand Is Increasing Rapidly in Recent Years
Seattle, WA -- (SBWire) -- 09/24/2019 --Astaxanthin is found in marine animals and plants and is a member of the xanthophyll family of carotenoids. It is one of the most powerful antioxidants available naturally and is also known 'The king of the carotenoids'. The highest concentration of astaxanthin is found in Pacific sockeye salmon. It is also found in crab, krill, red trout, algae, shrimp, and lobster and is commercially produced from Haematococcus pluviailis (HP). A hybrid system for photoautotrophic cultivation of Haematococcus pluviailis comprises of a photobioreactor (PBR) fence.
Astaxanthin has a number of health benefits such as it supports cardiovascular health, supports immune functioning, helps in protection of cells, supports brain health, and nervous system from oxidative damage. Astaxanthin offers excellent UV-light protection effect and antioxidant activity, which makes it an excellent enhancement for eye health care. Astaxanthin lowers oxidative stress and improves blood flow in smokers and weighty people. Astaxanthin plays a crucial role in curing Alzheimer's disease, Parkinson's disease, protection against cancer, reducing skin damage from ultraviolet (UV) light, and in boosting recovery after stroke.
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Global Astaxanthin Market Taxonomy
On the basis of source, the global astaxanthin market is classified into:
On the basis of end use industry, the global astaxanthin market is classified into:
- Food & Beverages
- Personal Care Products
Astaxanthin has powerful UV-blocking properties that help protect human skin from sun related damage. It is also beneficial in reducing wrinkles and in improving skin moisture levels. Astaxanthin has natural anti-inflammatory properties and natural forms of astaxanthin helps to block inflammatory COX2 enzymes and also suppressing serum levels of interleukin 1B, nitric oxide, C Reactive Protein (CRP), prostaglandin E2 and TNF-alpha (tumor necrosis factor alpha). Astaxanthin is used for the treatment of breast cancer, comprising of reduced growth of breast cancer cells. Astaxanthin can enhance endurance and fatigue levels after exercise and also helps in boosting the body's consumption of fatty acids which helps prevent muscle and skeletal damage.
Global Astaxanthin Market Outlook – Increasing Pharmaceutical Applications Astaxanthin Is Expected To Drive Growth Of Global Astaxanthin Market.
North America and Asia Pacific are expected to hold dominant position in global astaxanthin market. Asia Pacific is expected to witness significant growth in trems of value during the forecast period. This is owing, high growth of end-use industries such as pharmaceutical, especially in emerging economies such as India and China. According to India Brand Equity Foundation (IBEF), a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India, Indian pharmaceutical industry is expected to reach US$ 55 billion by 2026. Moreover, rising medical tourism in India is expected to drive growth of global astaxanthin market during the forecast period.
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Various applications of Astaxanthin in pharmaceutical and personal care products are fueling the growth of Astaxanthin market, especially in Asia Pacific and Middle East regions. High production cost due to limited availability of raw materials is one of the factors affecting the growth of astaxanthin market globally. Mergers and acquisitions, developing innovative portfolio are some of the key strategies adopted by the top players in the global astaxanthin market. In Fenchem Biotek Ltd, a leading provider of high-quality constituents for the cosmetics industry expanded its cosmetic business in South American market. The new plant has been set up in Sao Paulo, Brazil which also includes a warehouse for optimizing supply chain. Some of the major companies operating in the global astaxanthin market include BASF SE, Cyanotech Corporation, IGENE, BGG (Beijing Ginko Group), Supreme Biotechnologies NZ Ltd, Parry Nutraceuticals, DSM NV, Algatechnologies Ltd., Yunnan Alphy Biotech Co., LTD., and Fenchem Biotek Ltd.
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