The astaxanthin market was valued at USD 512.8 Million in 2016. It is projected to grow at a CAGR of 6.73% from 2017, to reach a projected value of USD 814.1 million by 2022.
The key players that are profiled in this report include Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Otsuka Pharmaceutical Co., Ltd. (Japan), Valensa International (US), Fuji Chemical Industries Co. (Japan), Divis Laboratories Ltd. (India), Beijing Ginko Group (China), Igene Biotechnology, Inc. (US), Piveg, Inc. (US), Fenchem Biotek Ltd. (US), Algatechnologies (Israel), Cardax, Inc. (US), and Supreme Biotechnologies (US).
The astaxanthin market is projected to grow at a CAGR of 8.02% from 2017, to reach a projected value of USD 814.1 million by 2022. The demand for astaxanthin is increasing due to various functions and end-use applications.
Astaxanthin market report categorizes the global market by source (natural and petroleum), application (feed, supplements, food, and cosmetics), form (dry and liquid), method of production (microalgae cultivation, fermentation, extraction, chemical synthesis) and region.
Based on application, the feed segment dominated the astaxanthin market, accounting for the largest share in 2016. The market is driven by growing health awareness among consumers. Thus, companies are focusing on offering astaxanthin products for various applications, such as functional food, beverages, dietary supplements, animal nutrition, and personal care due to their health and skin benefits.
Based on form, the liquid segment is projected to grow at the highest CAGR. This form of astaxanthin is used in various applications, such as syrups and texturing agents that are used in food, beverage, and pharmaceutical industries
Food&farming 