Astaxanthin Market is Expected to Grow at CAGR of 16.8% from 2021 to 2028
Astaxanthin Industry Overview The global astaxanthin market size was valued at USD 1,371.24 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.8% from 2021 to 2028. High demand for nutraceuticals due to their antioxidant properties and increased demand in the aquaculture & animal feed industry are key factors propelling the market growth. Furthermore, a growing number of health-conscious individuals are more inclined towards natural food coloring agents with lesser adverse effects, as compared to other chemical products, which is an important driver estimated to boost the market growth. Moreover, in preclinical & clinical studies, astaxanthin has shown the ability to reduce the inflammatory response that can lead to severe respiratory complications in COVID-19 patients. Gather more insights about the market drivers, restrains and growth of the Global Astaxanthin Market Increasing awareness among people about nutritional products...