The Europe Astaxanthin Market was worth US$ XX billion in 2022, and it is estimated to grow at US$ XX billion by the end of 2028 at an increasing CAGR of XX% during 2023 - 2028.
Astaxanthin is a carotene that primarily belongs to the xanthophyll family of carotenoids. The red pigment astaxanthin mot probably occurs naturally in some algae and gives salmon, lobster, shrimp, and other shellfish a pinkish color. Moreover, owing to its wide availability, this substance is used as a dietary supplement to provide cardiovascular advantages. In addition, Astaxanthin is 500 times more potent than vitamin E and far more effective than other carotenoids, including lutein and lycopene. GRAS considers algae, synthetic, and bacterial sources of Astaxanthin to be safe. Therefore, the FDA decided to raise the daily astaxanthin intake from 7.8 mg to 12 mg. Cyanotech also submitted a petition to the FDA requesting that 12mg of BioAstin brand be included in dietary components. Furthermore, this substance helps joints recover quickly after challenging exercise or physical activity by reducing oxidative stress, which causes pain and stiffness. Therefore, these points help in propelling the astaxanthin market growth in the upcoming years.
The growth of the astaxanthin market is associated with increased nutrition awareness for healthy lifestyles and a stronger preference for dietary supplements; demand for astaxanthin and natural antioxidants is predicted to rise due to the high expense of hospitalization. Moreover, Astaxanthin is considered a powerful antioxidant found to protect human cells from oxidative stress and inflammation. Anti-inflammatory medications containing astaxanthin help people with chronic arthritis relieve pain in their muscles, joints, and tendons. Furthermore, the astaxanthin market is expected to be driven by the spread of disorders such as diabetes, cardiovascular disease, cancer, and cognitive health issues. Astaxanthin, for example, can help persons with diabetes and high blood pressure raise their blood pressure and drop their blood sugar. Significant technology advancements are also essential to market drivers. Synthetic astaxanthin manufacturing is driven by profitable technology.
Another production strategy that improves performance and lowers waste is the closed microalgae growing system, which reduces the hazards of catching foreign materials, microbial contamination, and agricultural leftovers. Astaxanthin is also utilized in functional food to prevent the onset of chronic diseases, slow the aging process, and promote overall health. Astaxanthin is a powerful anti-inflammatory and antioxidant that outperforms vitamin A. Water-soluble versions are likewise in high demand on the market. During the projection period, this Astaxanthin characteristic is predicted to grow the market. Furthermore, as numerous research initiatives on functional food for health continue to give more data, Astaxanthin's available food and health advantages in the field of dermatology will see unprecedented expansion in the following years.
The benefits of Astaxanthin for skin homeostases, such as antioxidant, light-shielding, and anti-inflammatory activities, have been hypothesized as interest in dermatology has grown. Astaxanthin, which humans primarily consume, is now included in animal feed. It's also becoming more common in poultry and aquaculture applications, such as shrimp, salmon, and trout. In addition, its ingestion has helped improve several blood parameters that can aid in the treatment of heart disease.
It can help prevent atherosclerosis (artery blockage) by lowering LDL cholesterol oxidation and consuming 6-8 mg daily. In addition, it can aid in improving overall blood flow and lowering blood sugar levels in pediatric patients. Therefore, these factors are responsible for the astaxanthin market growth.
The high cost of production due to the extraction process is a significant contributor to the upward trend in product pricing. Another issue limiting the growth of the European astaxanthin market is strict guidance on using goods in products for direct human consumption.
Based on the source, marine tends to dominate the Europe Astaxanthin market in the next six years. This is because Astaxanthin, a xanthophyll carotenoid isolated from marine organisms and microalgae, has been recommended for mending and protecting cells and tissues or as a nutraceutical/cosmeceutical ingredient to prevent oxidative stress-related disorders due to its anti-inflammatory and antioxidant capabilities.
During 2022 - 2027, the liquid form is expected to grow the most in the astaxanthin market.
Soft gels, oil extracts, and beadlets are all made using Astaxanthin in liquid form. Syrups and texturing agents containing liquid Astaxanthin are utilized in the food, beverage, and pharmaceutical industries. Scaling and temperature make it challenging to use liquid nutraceutical components. However, Astaxanthin in liquid form is still employed in the applications mentioned above.
Among other segments, the food and beverage segment is predicted to increase at the fastest rate in the next six years, owing to the growing use of natural colorants in food and beverage goods. Astaxanthin is also utilized in the food sector for product storage and color standardization in foods like margarine, cheeses, sausages, pasta, and other drinks.
By method of production, the microalgae culture category is expected to develop at the quickest rate during the forecast period. H. Pluvialis, a microalga, is the most abundant source of astaxanthin. It contains 5% dried H. Pluvialis biomass, with Astaxanthin accounting for 90% of the total. The green stage and the red stage are the two stages of the cultivation process. A single-cell colony of microalgae is allowed to grow at the green stage without being stressed by normal cell division. For maximal growth, the "green" algal cells are given optimal growth circumstances. In the second stage, cells are subjected to various stressors, including high radiation levels and alterations in the growth medium.
Regional Analysis:
The Europe Astaxanthin Market Report includes the segmentation of countries:
Increasing community knowledge of astaxanthin and its benefits over-cautious usage will likely propel Europe to the top of the astaxanthin market over the forecast period. Furthermore, during the forecast period, increased consumer interest in anti-aging cosmetics and the presence of similar medicinal benefits are likely to enhance demand for Astaxanthin in Europe. Moreover, increasing antioxidant consumption in the food and supplement segments is predicted to fuel the astaxanthin market during 2022 - 2027, with Germany, the United Kingdom, and Italy contributing the most to this expansion.
The COVID-19 pandemic is projected to have varying degrees of impact on astaxanthin demand, depending on the end-use application and area. The astaxanthin industry, including dietary supplements, cosmetics, and aqua feed, is projected to see the steepest decreases. Although demand for Astaxanthin in chicken feed and food & beverages is predicted to be lower than typical, it is expected to grow faster than in other applications.
Key Players listed in the Europe Astaxanthin Market:
The companies covered in the report:
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