Global Astsxanthin market is expected to grow from $ 615.19 million in 2016 to reach $ 1226.14 million by 2023 with a CAGR of 10.3%. Factors such as rising demand for cosmetic products, customers varying preferences towards healthcare & nutraceutical products are fuelling the market. In addition, lack of raw material, inadequate advanced technologies are restricting the market.
Animal feed is expected to be the fastest growing segment as astsxanthin is used as coloring agent for aquatic animals and livestock to increase color of eggs and meat. On the other hand, the demand for natural astsxanthin is growing rapidly due to consumers rising concerns towards health benefits. Asia Pacific has acquired largest market share followed by North America and the growth is attributed to rising demand for natural astaxanthin from food and beverages sector.
Some of the key players in global astaxanthin market include Koninklijke DSM N.V., BASF SE, Cyanotech Corporation, Otsuka Pharmaceutical Co., Ltd, Valensa International, Fuji Chemical Industries Co., Ltd, Divis Laboratories Ltd, Beijing Ginko Group (BGG), Igene Biotechnology Inc, Piveg, Inc, Fenchem Biotek Ltd, Algatechnologies, Cardax, Inc, Supreme Biotechnologies and Parry Nutraceuticals.
Regions Covered: North America US Canada Mexico Europe Germany UK Italy France Spain Rest of Europe Asia Pacific Japan China India Australia New Zealand South Korea Rest of Asia Pacific South America Argentina Brazil Chile Rest of South America Middle East & Africa Saudi Arabia UAE Qatar South Africa Rest of Middle East & Africa
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