Click here for more information about Algenuity
Click here for more information about Liqofluxphenometrics515R1
Visit cricatalyst.com!Evodos Separation Technology

Money

Report suggests astaxanthin market @ $2.57 billion by 2025

August 6, 2017
AlgaeIndustryMagazine.com

The global astaxanthin market is expected to reach USD $2.57 billion by 2025, according to a new report by Grand View Research, Inc. Image: ohaskin.com

Adoption of advanced technologies in various stages of natural astaxanthin production, such as microalgae harvesting, cultivation, extraction, and drying, have been major factors driving astaxanthin’s market growth, expected to reach USD $2.57 billion by 2025. The new report, by Grand View Research, Inc., notes that awareness about health benefits, safety, and potential uses of astaxanthin is another driving force.

A rising geriatric population is estimated to result in an increase in the demand for cosmetics such as anti-ageing creams and antioxidant products for improving aesthetic appeal. Astaxanthin has been reported in many studies to possess high antioxidant and skin-friendly properties. Due to this, many cosmeceutical manufacturers and wellness spa owners are using it in new products and associated therapies, which is also estimated to drive demand.

Other findings in the report show that naturally produced astaxanthin dominated the production technology segment with a market share of 52.4% in 2016, owing to increasing awareness about its health benefits, safety, and multi-functionality.

Microalgae is estimated to be one of the largest and fastest growing natural sources, owing to increasing use of H. pluvialis for production of high-grade astaxanthin. Adoption of technologically advanced procedures for manufacturing natural astaxanthin with less contamination and maximum yield is expected to fuel market growth.

Dried algae meal or biomass held the largest market share by type of product in 2016 due to low production cost and high use in aquaculture and as animal food. Softgel capsules containing astaxanthin oil or powder are rapidly gaining acceptance as oral nutraceutical, and this is expected to fuel demand.

Based on application, aquaculture and animal feed dominated the market in 2016 with revenue of USD $220.0 million, owing to its increased usage in coloring fish and trout for quality enhancement. On the other hand, nutraceuticals are expected to witness lucrative growth over the forecast period due to factors such as high nutritional value, antioxidant properties, and low adverse effects.

North America held the largest market share by region in 2016. Key factors for that can be attributed to its dominance are: the local presence of key manufacturers, an increasing population base of health-consciousness, and a flourishing nutraceutical industry.

Supportive government regulations, growth in population with nutritional deficiencies, and increasing liquidity in developing countries are key drivers anticipated to provide high growth opportunities to the Asia Pacific region.

Read More

More Like This…

HOME A.I.M. Archives

Copyright ©2010-2017 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

twittertopbarlinks_eventstopbarlinks_requesttopbarlinks_archives

From The A.I.M. Archives

— Refresh Page for More Choices
Prior posts highlight the value proposition for building a Green Friendship Bridge of algae microfarms in lieu of 1%, (13 miles) of Donald Trump’s proposed border wall wi...
The water sample taken from the St. Lucie River near the coastline of Ft. Pierce, Florida was loaded with blue-green algae when it arrived in Ben Spaulding’s lab in Scarb...
Tafline Laylin writes for Inhabitat.com about the elegant solution that Romanian designer Alexandru Predonu has conceived that uses solar energy to power a rotating desal...
Karen Phillips writes for deeperblue.com that algae are the alveoli in the ocean lungs of our planet, vitally important to the health of the seas as home, food source, sa...
Jill Fehrenbacher writes in inhabitat.com that when it comes to design, Mother Nature has a lot to teach us. The field of Biodesign has emerged as an exciting new discipl...
Forbes is running an interview with Bren Smith, an Ashoka Fellow and the founder of GreenWave, an organization dedicated to restoring oceans, mitigating climate change an...
Discovering which algae species is best suited to make biofuel is no small task. Researchers have tried to evaluate algae in test tubes, but often find lab results don’t ...
Aquaculture is the fastest-growing segment in the feed industry. According to the 2017 Alltech Global Feed Survey, the aquaculture industry experienced a 12 percent incre...
Diane Stopyra writes in Salon.com that a growing number of coastal states around the country are undertaking large-scale seaweed farming projects. While farms are underwa...
Algatech has announced the opening of Algatech Inc., a New York City-based subsidiary created to serve the North American market. The company has appointed Ken Seguine to...
Will Yeates reports in DailyPlanet.com that an urban “algae farm” producing low-carbon protein and bio-fuel is one of the highlights on show this week at the future energ...
Memory Maninga reports for Zambia Daily Mail that in Mansa, the capital of the Luapula Province of Zambia, spirulina is being grown in ponds in the communities because of...