Astaxanthin Market Worth $4.75 Billion By 2028 | CAGR: 16.8%
Astaxanthin Industry Overview The global astaxanthin market size is expected to reach USD 4.75 billion by 2028, registering a CAGR of 16.8%, according to a new report by Grand View Research, Inc. Increasing adoption of dietary supplements, growing awareness among people regarding healthy lifestyle, and government initiatives to increase the manufacturing capacity are anticipated to boost the market growth. For instance, in May 2019, Algalíf Iceland ehf. received financial aid from EU’s SME Instrument program and Icelandic Centre for Research’s Technology Development Fund to expand its manufacturing capacities by adding spray dryers. Astaxanthin Market Segmentation Grand View Research has segmented the global astaxanthin market on the basis of source, product, application, and region: Based on the Source Insights, the market is segmented into Natural, Synthetic . The natural source segment dominated the market in 2020 and is estimated to wi...