The Latin America, Middle East and Africa Astaxanthin Market would witness market growth of 18.4% CAGR during the forecast period (2022-2028).
Presently, the highest number of studies demonstrate the issue of incorporation of astaxanthin in a system of Nano-dispersion. Because of the stability, water solubility, large bioavailability, and ease of processing of the Nano dispersion system, it is expected Nano-dispersion system will be helpful in several food and pharmaceutical applications.
The presence of astaxanthin and various carotenoid in seafood and another environment basically leads to the generation of oil in water. The major process required is the protection of the dispersion of astaxanthin from molecular adjustment and destruction. Several types of research have shown that water solubility, high stability, and large bioavailability of astaxanthin dispersion can be effortlessly attained by encapsulation technologies.
With a huge quantity of health concerns, people are highly interested in natural food coloring agents with fewer side effects, compared to other chemical products which could act as market growth agents. The rising demand for astaxanthin is anticipated to rise because of its several uses in the pharmaceutical, nutraceutical, and feed industries. Additionally, the exceptional color and properties related to astaxanthin will raise its usage of it in aquaculture industries, food coloring methods, and others.
Nutracosmetics demand in Saudi Arabia is growing rapidly due to the nation’s increasing population who is supported by the high-income levels. With aim to satisfy consumer demand, the cosmetic manufacturers are introducing such products more frequently. The increasing popularity of luxury brands is anticipated to impact the Saudi Arabian nutracosmetic industry positively. Saudi Arabia has strict laws governing halal cosmetics. As a result, customers are becoming more aware of the availability of halal & vegan cosmetics nutracosmetics. Due to this, many companies are working hard to give vegan skin care products to build their brands. Due to this, consumers tend to keep current, which in turn aids the Saudi Arabia nutracosmetics industry to expand.
The Brazil market dominated the LAMEA Astaxanthin Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $77.8 million by 2028.The Argentina market is experiencing a CAGR of 19% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 18% during (2022 - 2028).
Based on Product, the market is segmented into Dried Algae Meal Or Biomass, Softgel, Oil, Liquid and Others. Based on Source, the market is segmented into Natural and Synthetic. Based on Natural Type, the market is segmented into Yeast, Microalgae, Krill/Shrimp and Others. Based on Application, the market is segmented into Aquaculture & Animal Feed, Nutraceuticals, Cosmetics, Food and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Astaxanthin Market is Predict to reach $4.4 Billion by 2028, at a CAGR of 15%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include E.I.D. Parry Limited (Murugappa Group), Cyanotech Corporation, ENEOS Corporation (Eneos Holdings), Algatech Ltd. (Solabia Group), MicroA AS, Beijing Gingko Group, Algalif Iceland ehf, Piveg, Inc., Fuji Chemical Industries Co., Ltd., and Atacama Bio Natural Products S.A.
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