Strong market growth for astaxanthin in Europe
6th August 2019
The market for natural astaxanthin from the microalga Haematococcus pluvialis is booming. A report by Research and Markets states that the global market is growing at a CAGR of approximately 13% and will reach 770 million USD by 2024. This growth has been boosted by research findings that provide scientific backing for the health benefits of natural astaxanthin. AstaReal is the most studied brand of natural astaxanthin worldwide, with a portfolio of 60+ human clinical trials conducted among more than 1,800 people.
The buoyant astaxanthin market shows no sign of slowing down, as consumers continue to look for preventative, natural ingredients backed by science. There has been notable development in Europe in particular, thanks to rising demand for carotenoid pigments in lotions, moisturizers, powders and other personal care items. Increasing consumption of antioxidants in the food and supplements segments is also expected to fuel the astaxanthin market during the forecast period, with countries such as Germany, the UK and Italy being the major contributors to this growth.
Astaxanthin’s popularity is rising rapidly at the moment, not just because of its antioxidant potential, but also because it offers a wide range of clinically validated benefits that consumers can feel working within their bodies. Plus, the ingredient can be used in many different formulas and has been the subject of a lot of new product development and research.
While health benefits are a major factor, sustainability and traceability are other key drivers for market growth – particularly as consumers are increasingly concerned about the origin of their products. The global nutraceutical industries are therefore looking for plant-based sources of traditional ingredients, and they are starting to focus on algae. Almost at the bottom of the marine food chain, microalgae supply astaxanthin and omega-3 fatty acids to fish and krill, and represent a sustainable as well as vegetarian alternative to both.
Being sourced from algae, astaxanthin’s quality is affected by the environment in which the algae is cultivated. Unlike other companies who also source astaxanthin from Haematococcus pluvialis, AstaReal rejected outdoor production methods as they are susceptible to contamination. Instead, the company processes its algae indoors under controlled conditions. This results in a safe product with at least 5% astaxanthin content in the biomass and without any impurities, such as solvent residues, which can be found in other ingredients.
Andie Long, Marketing & Sales Manager at AstaReal, explains: “Not all natural astaxanthin is created equal. As the market is growing, we are unfortunately seeing the appearance of some low-quality products. Therefore, when choosing an astaxanthin supplier, companies should pay attention to their production methods, the stability and purity of their products, the astaxanthin content in the biomass and their quality certifications. AstaReal’s cultivation process features the tightest controls in the industry and yields an ingredient with maximum purity, stability and potency.”
Research and Markets report: A Global Astaxanthin Market - Sources, Technologies and Applications. August 2018. (https://www.researchandmarkets.com/research/39f5zh/global?w=5)
Market Research Future: Astaxanthin Market Research Report - Forecast to 2023. May 2019. (https://www.marketresearchfuture.com/reports/astaxanthin-market-4833)