Astaxanthin Market Dynamics Analysis 2023

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Astaxanthin Market Worth to Grow at over 9 CAGR
from 2023 to 2032
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Overview of Astaxanthin Market

• Global Astaxanthin Market is estimated to attain
  high gains through 2032 owing to the rising
  demand for dietary supplements. However, the high
  manufacturing cost of the product is expected to
  pose a threat to the booming industry.
• Based on source, the natural segment is projected
  to grow steadily over the reviewed timeline.
  Astaxanthin is a carotenoid and a substance
  naturally found in plants and animals. The
  preference to produce using algae and yeast has
  grown due to the rapidly rising need for natural
  products, which will fuel consumer demand and
  speed up corporate growth during the anticipated
  timeframe. Moreover, natural astaxanthin is a
  20-times more potent antioxidant than
  manufactured, which will also help drive the
  market expansion.

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• With respect to application, the dietary
  supplement segment is speculated to attain high
  gains in the future, depicting more than 9.5
  CAGR through the estimated timeframe. Growing
  urbanization, escalating disposable income, busy
  lifestyles and work schedules, as well as
  consumers' inability to meet daily nutritional
  requirements are a few of such variables that are
  anticipated to support the expansion of the
  dietary supplements industry, favoring the
  market.
• Following a similar trend, the personal care
  segment is anticipated to grow at more than 9
  CAGR from 2023 to 2032. Due to its antioxidant
  capabilities, serves as a vital component in
  cosmetic and skincare products. Natural
  astaxanthin lessens skin irritation brought on by
  UVB. It also improves skin texture, enhances
  moisture content, and increases hydration. Along
  with the modern consumer trend toward sustainable
  and biodegradable products, consumers are
  gravitating more toward businesses that combine
  natural components. Customers' growing interest
  in enhancing their general skin health and
  boosting the well-being is expected to foster
  segmental growth.

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• From the regional front, the Middle East Africa
  market is poised to amass sizable growth by the
  end of the research period propelled by thriving
  personal care sector. The personal care industry
  in the Middle East is driven by a number of
  factors, including a high level of disposable
  income, a desire for ethical products, and the
  development of beauty technologies, all of which
  are predicted to contribute to the region's
  market expansion.
• Notable participants in the Astaxanthin market
  include Allergan, Syneron Candela, Galderma, and
  Cynosure

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