North America Astaxanthin Market

North America Astaxanthin Market Growth and Forecast (2023-2028):

The North America Astaxanthin Market was valued at US$ XX billion in 2022 and is predicted to grow at US$ XX billion by 2028 with an increasing CAGR of XX% during 2023-2028.

Market Scenario:

Astaxanthin is a kind of carotene that belongs to the xanthophyll family. It's a natural red pigment found in some algae that gives salmon, lobster, shrimp, and other shellfish their pinkish hue. This chemical is utilized as a dietary supplement to provide cardiovascular benefits due to its widespread availability. This supplement is 500 times more powerful than vitamin E and significantly more effective than lutein and lycopene. Algae, synthetic, and bacterial sources of astaxanthin are all considered safe by GRAS. The FDA has decided to increase the daily dosage of astaxanthin from 7.8 mg to 12 mg. Cyanotech also requested that 12mg of BioAstin brand be included in dietary components in a petition to the FDA. This substance helps joints recover quickly after hard exercise or physical activity by reducing oxidative stress, which causes pain and stiffness.

Recent Development:

• AstaZine Natural Astaxanthin, BGG's flagship product, is now available in a water-dispersible emulsion form for usage in beverage applications, according to BGG and its affiliates Solix Algredients (Solix) and Algae Health Sciences (AlgaeHealth).

North America Astaxanthin Market Drivers and Restraints:

During the projected period, the North America astaxanthin market is expected to develop significantly as demand for astaxanthin rises in a variety of end-use industries, including pharmaceuticals, cosmetics, food and beverage, aquaculture and animal feed, and diet.  Because of the high cost of hospitalization, demand for astaxanthin and natural antioxidants is expected to rise due to greater nutrition awareness for healthy lifestyles and a stronger preference for dietary supplements. Astaxanthin is an antioxidant that protects human cells from oxidative damage and inflammation. Astaxanthin-containing anti-inflammatory drugs help persons with chronic arthritis ease pain in their muscles, joints, and tendons.

Furthermore, illnesses such as diabetes, cardiovascular disease, cancer, and cognitive health difficulties are likely to fuel the market.  For example, astaxanthin can help people with diabetes and high blood pressure raise their blood pressure and lower their blood sugar levels.

Significant technological progress is also a key market driver.

Profitable technology drives the production of synthetic astaxanthin. The closed microalgae growing system, which limits the risks of catching extraneous materials, microbial contamination, and agricultural leftovers, is another production technique that enhances performance and saves waste.

Astaxanthin is also utilized in the form of functional food to prevent the onset of chronic diseases, slow the ageing process, and promote overall health. The benefits of astaxanthin for skin homeostasis, such as antioxidant, light-shielding, and anti-inflammatory activities, have been hypothesised as interest in dermatology has grown.  Animal feed now contains astaxanthin, which is mostly ingested by humans. In poultry and aquaculture applications, such as shrimp, salmon, and trout, it's becoming more frequent. It has been proven that consuming it improves a variety of blood factors that can help with heart disease treatment. By decreasing LDL cholesterol oxidation and taking a daily dose of 6-8 mg, it can help prevent atherosclerosis (artery blockage). It can aid diabetics and others with high blood pressure in improving their general blood flow and lowering their blood sugar levels. Astaxanthin is a potent antioxidant and anti-inflammatory that outperforms vitamin A. Water-soluble variants are also very popular on the market. This Astaxanthin attribute is expected to grow the market during the forecast period. Astaxanthin's functional food and health benefits in the field of dermatology will see unprecedented increase in the next years as several research activities on functional food for health continue to provide more data.

The high cost of production due to the extraction process is a major contributor to the upward trend in product pricing. Another issue limiting the growth of the North America astaxanthin market is strict guidance on the use of goods in products for direct human consumption.

North America Astaxanthin Market Segmentation Analysis:

By Source:

• Plants      
• Yeast & Microbes
• Marine    
• Petroleum  

Marine Astaxanthin is expected to dominate the North America Astaxanthin market in the next six years, according to the source. Primarily owing to its antioxidant properties and anti-inflammatory characteristics, Astaxanthin, a xanthophyll carotenoid isolated from marine organisms and microalgae, has been recommended for mending and protecting cells. To counteract oxidative stress-related illnesses, it can be used in cells and tissues or as a nutraceutical/cosmeceutical ingredient.

By Form:

• Dry
• Liquid

The liquid form is predicted to grow the greatest during the projection period. Astaxanthin in liquid form is used to make soft gels, oil extracts, and bead lets. Primarily in the food, beverage, and pharmaceutical firms, liquid astaxanthin syrups and texturing agents are used. The utilization of liquid nutraceutical components is difficult due to scaling and temperature. However, liquid astaxanthin is still used in the aforementioned applications.

By Application:

• Supplements       
• Animal Feed         
• Cosmetics              
• Food  

Due to its widespread use as a feed additive, the aquaculture and animal feed category dominated the North America astaxanthin market with a revenue share of over 47% and is expected to increase at a stable CAGR throughout the forecast period. Furthermore, an increase in the use of astaxanthin in the aquaculture industry to improve seafood quality is adding to the segment's considerable market share.

By Method of Production:

• Fermentation      
• Microalgae Cultivation     
• Extraction              
• Chemical Synthesis 

Microalgae culture is predicted to grow at the fastest pace by method of production, with a CAGR of 9.4% between 2022 and 2027 in the North America astaxanthin market. The most abundant source of astaxanthin is H. Pluvialis, a microalga. It's made up of 5% dried H. pluvialis biomass, with astaxanthin accounting for 90% of the total. The two stages of the cultivation process are the green stage and the red stage. During the green stage, a single-cell colony of microalgae is allowed to thrive without being pressured by normal cell division. The "green" algae cells are given optimal growth conditions for maximum growth. Cells are exposed to a range of stressors in the second stage, including high radiation doses and changes in growth media. Natural astaxanthin is made and stored in the body.

Regional Analysis:

The North America Astaxanthin Market Report includes the segmentation of countries:

• U.S
• Canada
• Mexico
• Rest of North America

The North American Astaxanthin Market is divided into four regions: the United States, Canada, Mexico, and the Rest of North America. By market share, North America has the largest market for Astaxanthin in the globe. The United States has the largest share of the North American market, while Canada is predicted to grow at the fastest rate. Market expansion in the region is predicted to be fueled by factors such as an ageing population and the implementation of new technologies throughout production.

Impact of COVID-19 on North America Astaxanthin Market:

As the current crisis has highlighted the importance of safe, healthy, and nutritious eating habits among consumers around the world, the COVID-19 pandemic is projected to have a substantial impact on the astaxanthin market. While astaxanthin sales are distributed globally, key industry players have begun to establish regional manufacturing, R&D, and sales units. As a result of the COVID-19 epidemic, astaxanthin manufacturers are having significant difficulties supplying increased demand for functional food items that respond to changing tastes and preferences. Raw material prices are projected to rise as a result of COVID-19 because of trade barriers, disruptions in raw material supply, and inefficient distribution systems. The North America astaxanthin market is projected to face challenges due to the scarcity and high cost of raw materials, as well as high production costs.

Key Players in the Market:

Major Key Players in the North America Astaxanthin Market are

• Koninklijke DSM N.V.
• BASF SE
• Cyanotech Corporation
• Otsuka Pharmaceutical Co., Ltd.
• Valensa International
• Fuji Chemical Industries Co., Ltd.
• Divis Laboratories
• Beijing Ginko Group
• Igene Biotechnology, Inc.
• Piveg, Inc.