The Global Astaxanthin Market is projected to reach a valuation of US$ 3,636.8 m… – Press Release

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NEWARK, Del, March 16, 2023 (GLOBE NEWSWIRE) — The global astaxanthin market is predicted to register a robust CAGR of 14.9% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 910.3 million in 2023 to US$ 3,636.8 million by 2033 end.

Demand for astaxanthin is projected to rise on account of its multiple applications in nutraceuticals, pharmaceuticals, feed industries, etc. Moreover, the distinct color and properties of astaxanthin are also propelling its demand in food coloring, commercial aquacultures, and other applications.

New technologies emerging in the market to propel the production of astaxanthin are expected to enhance the market scope over the forecast period, for example, ALGAMO, which produces astaxanthin via micromodules and photobioreactors. The company is focusing on the minimization of water wastage and saving electricity during the production of astaxanthin. Going forward, research and studies carried out to develop astaxanthin with the help of different technologies by promoting economic and technical feasibility are projected to have a positive influence over the market.

Find a comprehensive report summary that describes the market size and forecast along with the research methodology. The Sample report is available in PDF format: https://www.futuremarketinsights.com/reports/sample/rep-gb-1968

The market is projected to witness strategic initiatives by key players for the launch of novel platforms and products, consequently offering lucrative growth opportunities, especially in emerging economies. In April 2021, for instance, Näck, a Swedish-Indian startup introduced its digital wellness platform, along with Immunity Boost, which is a lineup of two herbal products made of natural astaxanthin and real vegan protein powder.

The evolving consumer demand for innovative and sophisticated food items is gaining momentum. In addition to this, consumers are now knowledgeable about the relationship…

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