Asia Pacific Astaxanthin Market Size, Share & Industry Trends Analysis Report By Product (Dried Algae Meal Or Biomass, Softgel, Oil, Liquid), By Source (Natural and Synthetic), By Natural Type, By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Astaxanthin Market would witness market growth of 15.9% CAGR during the forecast period (2022-2028).
Astaxanthin has the ability to enhance the DNA repair capacity of cells affected by UV radiation. Basically, astaxanthin has the ability to reduce the damaging effect of DNA and can influence the Kinetics of DNA repairing. The most costly and major industrial pigment which is commonly used in aquaculture is Xanthophyll astaxanthin.
The pink and red color of salmonid meat and shrimp is result of astaxanthin. Because of its anti-oxidant ability among carotenoids, sometimes, it is also used to provide protection to food & beverages. Yet its use in food technology is less because of the unidentified effects of long-term consumption of synthetic astaxanthin on the health of humans and due to the fewer sources and costly natural astaxanthin.
India has always been the biggest market for nutra-cosmetic in South Asia. In India, there are not many professional makeup brands that can provide a huge range of salon and makeup artists. In pursuit of the development of competition within the Indian beauty industry, the fast-economic growth in India has brought a large number of international companies, which makes India a prominent region and a main source of Nutra-cosmetic products sales. The demand for Nutra-cosmetic is majorly pushed by the aging population, which has raised the demand for products with the anti-aging ability to enhance the texture of the skin and slow down the process.
The China market dominated the Asia Pacific Astaxanthin Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $345 million by 2028.The Japan market is estimated to grow a CAGR of 15.2% during (2022 - 2028). Additionally, The India market would display a CAGR of 16.6% during (2022 - 2028).
Based on Product, the market is segmented into Dried Algae Meal Or Biomass, Softgel, Oil, Liquid and Others. Based on Source, the market is segmented into Natural and Synthetic. Based on Natural Type, the market is segmented into Yeast, Microalgae, Krill/Shrimp and Others. Based on Application, the market is segmented into Aquaculture & Animal Feed, Nutraceuticals, Cosmetics, Food and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Astaxanthin Market is Projected to reach USD 4.4 Billion by 2028, at a CAGR of 15%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include E.I.D. Parry Limited (Murugappa Group), Cyanotech Corporation, ENEOS Corporation (Eneos Holdings), Algatech Ltd. (Solabia Group), MicroA AS, Beijing Gingko Group, Algalif Iceland ehf, Piveg, Inc., Fuji Chemical Industries Co., Ltd., and Atacama Bio Natural Products S.A.
Scope of the Study
Market Segments Covered in the Report:
By Product
- Dried Algae Meal Or Biomass
- Softgel
- Oil
- Liquid
- Others
By Source
- Natural
- Yeast
- Microalgae
- Krill/Shrimp
- Others
- Synthetic
By Application
- Aquaculture & Animal Feed
- Nutraceuticals
- Cosmetics
- Food
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- E.I.D. Parry Limited (Murugappa Group)
- Cyanotech Corporation
- ENEOS Corporation (Eneos Holdings)
- Algatech Ltd. (Solabia Group)
- MicroA AS
- Beijing Gingko Group
- Algalif Iceland ehf
- Piveg, Inc.
- Fuji Chemical Industries Co., Ltd.
- Atacama Bio Natural Products S.A.
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