Overview:
Astaxanthin
is a naturally occurring pigment, found in certain marine plants and
in certain algae.It is a pigment, which belongs a chemical group
called carotenoids. It is a naturally occurring pigment, found in
certain marine plants and in certain algae. It also causes the pink
or red color in various seafood such as salmon, shrimp, trout, and
lobster. Astaxanthin finds its application in various industries
like, food, nutraceutical, and aquaculture industry. It is also
considered as a powerful antioxidants found in nature. Astaxanthin
has no side effects when compared to other antioxidants, which
becomes pro-oxidant in the body. Astaxanthin is produced through
chemical synthesis and also derived from various natural sources such
as Paracoccus bacteria, Phaffia yeast, shrimp bi-products and
Haematococcus pluvialis microalgae, which is the current major
natural source of astaxanthin.
Global
Astaxanthin Market: Segmentation
Global
Astaxanthin Market can be segmented on the basis of sources,
application and region.
On
the basis of sources, global astaxanthin market can be segmented into
Natural and Artificial. Natural sources of Astaxanthin can be further
sub-segmented into Pacific sockeye salmon, Phaffia yeast, Paracoccus
bacteria, Shrimp bi-products, and Haematococcus pluvialis.
Haematococcus pluvialis microalgae is one of the most prominent
natural resource for astaxanthin production.
Astaxanthin
is also produced by an artificial method, known as chemical
synthesis. Most of the commercial astaxanthin for aquaculture is
produced synthetically and contribute significantly to the total
astaxanthin market revenue.
Global
Astaxanthin Market can be further segmented on the basis of
application. A huge share of astaxanthin produced globally is used
aquaculture industry, for pigmentation of trout, shrimps and salmon.
Astaxanthin is also used in various nutraceuticals products, due to
its antioxidant properties. In food and beverages, astaxanthin is
used to fulfil specific proteins demand from natural sources.
Astaxanthin also finds its application in cosmetics & personal
care products owing to its anti-aging properties. Astaxanthin is also
used in various pharmaceuticals application and as colouring agent in
animal feed.
Global
Astaxanthin Market: Regional Outlook
Geographically,
the global astaxanthin market rapidly growing with growing demand in
aquaculture and cosmetic industry. Global astaxanthin market can be
divided by major regions which include North America, Latin America,
Europe, Asia Pacific, Middle East and Africa.
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Globally,
among all regions, North America leads in the commercial production
of astaxanthin, followed by Asia Pacific. Countries like India, Japan
and Israel contributes significantly to the total astaxanthin
production. The consumption of astaxanthin primarily goes into salmon
feed industry and economies with high sea food consumption are
expected to drive the demand for astaxanthin.
Global
Astaxanthin Market: Growth Drivers
Increasing
adaptation and usage of natural ingredients in various food nutrients
is resulting in higher demand for natural astaxanthin. The growth of
nutraceutical and cosmetic markets is also adapting naturally
occurring astaxanthin in product formulation, due to increased
concern for consumer safety, resulting in higher demand for natural
astaxanthin. Furthermore, the approval of astaxanthin by the U.S. FDA
as generally recognized as safe (GRAS) for dietary supplements and
approval from various European food agencies has resulted in the
growth of astaxanthin market.
As
the astaxanthin can be derived from natural resources like
Haematococcus pluvialis algae, increased consumer awareness of its
health benefits and its clean label profile is also expected to drive
the growth of global astaxanthin market.
Synthetic
astaxanthin is mostly used in the aquaculture sector, and the major
demand comes from the salmon feed industry.
Global
Astaxanthin Market: Players
Global
astaxanthin market is concentrated as majority of the market share is
contributed by major players such as Royal DSM and ADM. Other major
players in global astaxanthin market are Viva Labsa, Otsuka
Pharmaceutical, Phasex Corporation, Cyanotech Corporation,
Algatechnologies, Spec-Chem Industry, Inc., Valensa International.,
and AstaReal Co., Ltd.
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