ALBANY, New York, June 8, 2020
ALBANY, New York, June 8, 2020 /PRNewswire/ -- The demand for astaxanthin has increased alongside advancements in the field of chemical research. Compounds containing oxygen, hydroxyl, and ketone groups have gained popularity across the globe. These compounds are constantly being studied to explore their properties and applications. It is important for the chemical industry to acknowledge the effectiveness of these compounds in key industries. This would help in popularization of the benefits and applications of these compounds. In light of the factors stated herein, the global astaxanthin market is projected to grow along a lucrative trajectory. Astaxanthin occurs naturally in freshwater micro algae, adding to its utility and purity. Attempts to artificially synthesize the compound have also been made in the recent past. The growing relevance of the compound in key industries has created a plethora of opportunities for market growth.
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Approval by FDA as a Precursor to Popularity of Astaxanthin
In recent times, production and extraction of astaxanthin has become a matter of discussion across global research circles. It has become evident that the uses of astaxanthin in leading industries have prompted researchers to look into its chemical and physical properties. Several trends and factors have played a formative role in popularizing astaxanthin across key industries.
Gather core insights about the leading trends operating in the Astaxanthin Market (Source; Grade; Application; Form) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at: https://www.transparencymarketresearch.com/pressrelease/astaxanthin-market.htm
Global Astaxanthin Market: Growth Drivers
The growth of the global astaxanthin market mainly depends on the use of this compound in commercial industries. Some of the leading driver of demand within the global astaxanthin market are:
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Global Astaxanthin Market: Restraints to Expansion
Despite the accepted usage of astaxanthin in feeds for aquaculture, several medical research organizations have contested the effectiveness of the compound. The compound is still under preliminary research across several research labs. The European Food Safety Authority, in the past, has asked for safety certifications from manufacturers of the compound. Vendors operating in the global astaxanthin market are looking for ways to bypass the odds to market expansion.
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Global Astaxanthin Market: Key Market Players
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