Rising Popularity of Astaxanthin Health Benifits to Drive the Global Market to exceed $1 billion by 2020
Industry Experts has unveiled the new market research report on Astaxanthin. The new global report ‘ Global Astaxanthin Market – Sources, Technologies and Applications ’ reveals that the market for Astaxanthin is projected to touch US$1.1 billion by 2020 equated to 670 metric tons from an estimated US$447 million in 2014. Haematococcus pluvialis microalgae-derived astaxanthin market is poised to emerge as the fastest growing, reaching a projected US$828 million by 2020 from an estimated US$180 million in 2014, with a compounded annual growth rate (CAGR) of 29% between 2014 and 2020. Astaxanthin has been widely used in aquaculture industry for pigmentation of salmon, trout and shrimps; used for its antioxidant and other health benefits in nutraceutical industry; used in cosmetics for its skin care and anti-aging properties; and also used for fortification of foods and beverages. On commercial scale, astaxanthin is currently produced through chemical synthesis and also derived from nat