Market Trends of Astaxanthin Industry
Growing Demand from Food Industry Set to Boost Market Growth
The consistent growth in the demand for astaxanthin particularly from the food industry is expected to boost the growth of the astaxanthin market during the forecast period. In the past few decades, astaxanthin is increasingly used as a food additive, owing to health benefits, including anti-inflammatory effects, improved immunity, and prevention of cerebrovascular and cardiovascular diseases, among others. Over the past decade, several studies have revealed that astaxanthin can play an important role in preventing photoaging, improving sleep, minimizing obesity, protecting the vocal cord, combating depression, and increasing sperm motility, among others.
Asia Pacific Holds A Significant Share
The Asia Pacific is observed to provide great opportunities for astaxanthin players, due to its following attributes- the presence of highly proactive consumers, with respect to personal wellness, and a large aging population, leading to several opportunities for healthy-aging ingredients and rapidly changing market conditions. In the Asia-Pacific region, India and China are considered to be potential markets, in terms of astaxanthin production, due to their large population. Moreover, rapid urbanization, high consumer disposable income levels, and increasing awareness about natural products are anticipated to propel the market in this region. The investments made by several global astaxanthin companies to increase their presence and reach in the region. For instance, the Icelandic-based astaxanthin ingredient and supplements producer Algalif (Reykjanesbaer), introduced its new IceCaps astaxanthin softness and its current Icelandic Harvest brand of finished astaxanthin dietary supplements in the Asia-Pacific countries.
