Hyderabad, India -- (SBWIRE) -- 03/06/2018 -- Astaxanthin is a carotenoid agent that is extracted from certain marine plants and creatures. Astaxanthin is perceived as being a standout amongst the rest of the carotenoids owing to the fact that it never turns into an oxidant in the body, thereby never causing any hurtful oxidation side effects.

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The global Astaxanthin market value is evaluated to be USD 588 Million in 2016 and is estimated to reach USD 850 Million by 2021 at a CAGR of 7.67%.

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Owing to its cell reinforcement properties and expanding applications in the aquaculture business, Astaxanthin market is expected to witness rapid expansion. Besides, ascent in health consciousness among people and growing preference for natural carotenoid agents over synthetic carotenoid agents are also expected to boost the market growth.

The market expansion is also supported by growing elderly population, increasing applications of Astaxanthin in Cosmetics, and advancements in production techniques of Astaxanthin.

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Geographically, the market is categorised into North America, Latin America, Asia-pacific, Europe and Middle East & Africa. North America is expected to dominate the market globally followed by Europe. Asia-pacific is expected to witness the highest growth rate and is anticipated to be a major market in the upcoming years.

Some of the key players of Astaxanthin market include 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., Fenchem Biotek Ltd., Algatechnologies, Cardax, Inc., and Supreme Biotechnologies (U.S.).

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