(Entertainment-NewsWire.com, November 16, 2017 ) The North America Astaxanthin Market was worth USD 223 million in 2016 and estimated to be growing at a CAGR of 7.45%, to reach USD 320 million by 2021. Astaxanthin is a keto-carotenoid which is colourful, liquid soluble pigment. It is found in many natural sources such as salmon, trout, microalgae, yeast, krill, shrimp, crayfish and crustaceans among others.
While Astaxanthin is a naturally available component of diet, it is also used as a food supplement. It is generally used for animal, human and aquaculture consumption. It is widely available in red-coloured aquatic foods. The primary source of Astaxanthin in aquatic food sources is algae. In species like shell fish, it is concentrated in the shells while it is also available in flesh at lower concentrations. However, most of the commercially available Astaxanthin is produced synthetically.
The driving factors of North America Astaxanthin market are adoption of advanced technologies during various stages of the production of Astaxanthin such as cultivation, extraction, microalgae harvesting, extraction and drying, growing geriatric population and rising demand for cosmetic products like antioxidant creams and anti-ageing creams among others. Astaxanthin has been found in many studies to be skin-friendly as it offers various advantages. Because of this, it is being used extensively by cosmeceutical manufacturers and wellness spa owners.
The North America Astaxanthin market is segmented based on source into plants, yeast & microbes, marine and petroleum segments. On the basis of form, it is divided into dry and liquid segments. By application, the market is divided into supplements, animal feed, cosmetics and food. By method of production, the market is segmented into fermentation, microalgae cultivation, extraction and chemical synthesis. In the Astaxanthin market, petroleum segment has the largest market by share and microalgae is expected to be the fastest growing segment.
The North America Astaxanthin market is divided based on geography into United States, Canada and Mexico. North America has the largest market for Astaxanthin in the world by share. In the North America region, United States has the largest share while Canada is expected to grow at the fastest rate. Factors such as rising geriatric population and adoption of various technologies during production are expected to drive the market growth in the region.
Some of the major players in the market are Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cyanotech Corporation (U.S.), Otsuka Pharmaceutical Co., Ltd. (Japan), Valensa International (U.S.), Fuji Chemical Industries Co., Ltd. (Japan), Divis Laboratories (India), Beijing Ginko Group (China), Igene Biotechnology, Inc. (U.S.), Piveg, Inc. (U.S.), Fenchem Biotek Ltd. (U.S.), Algatechnologies (Israel), Cardax, Inc. (U.S.), and Supreme Biotechnologies (U.S.).
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