Astaxanthin Industry Overview The global astaxanthin market size is expected to reach USD 4.75 billion by 2028, registering a CAGR of 16.8%, according to a new report by Grand View Research, Inc. Increasing adoption of dietary supplements, growing awareness among people regarding healthy lifestyle, and government initiatives to increase the manufacturing capacity are anticipated to boost the market growth. For instance, in May 2019, Algalíf Iceland ehf. received financial aid from EU’s SME Instrument program and Icelandic Centre for Research’s Technology Development Fund to expand its manufacturing capacities by adding spray dryers. Astaxanthin Market Segmentation Grand View Research has segmented the global astaxanthin market on the basis of source, product, application, and region: Based on the Product Insights, the market is segmented into Dried Algae Meal or Biomass, Oil, Softgel, Liquid, Others.
Based on the Source Insights, the market is segmented into Natural, Synthetic.
Based on the Application Insights, the market is segmented into Nutraceuticals, Cosmetics, Aquaculture &Animal Feed, Food, Others.
Astaxanthin Regional Outlook
Key Companies Profile & Market Share Insights Key players are contributing to market growth by adopting various strategies, such as geographical expansion, to gain a higher market share. In addition, companies are focusing on gaining market approvals for innovative products to help in the management of different health conditions. Some prominent players in the global astaxanthin market include
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