Artificial Intelligence
Astaxanthin Market Worth $1.34 Billion by 2030 – Exclusive Report by Meticulous Research®
Redding, California, Jan. 09, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, ‘Astaxanthin Market by Source (Natural, Synthetic), Form (Dry, Liquid), Method of Production (Chemical Synthesis, Fermentation, Extraction), Application (Food & Beverages, Pharmaceuticals, Nutraceuticals, Animal Feed) — Forecasts to 2030,’ the astaxanthin market is projected to reach $1.34 billion by 2030, at a CAGR of 8.2% from 2023 to 2030.
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Astaxanthin is a reddish pigment that belongs to the carotenoids family of chemicals. It is found naturally in some algae and causes the pink or red color in salmon, trout, lobster, shrimp and other seafood. Astaxanthin is also available in the form of antioxidants. It is widely used to treat diseases such as heart disease, strokes, Parkinson’s disease, and liver malfunctions, among others. Additionally, astaxanthin can protect the skin against sunburn and reduce wrinkles. Such widespread applications are boosting the growth of the astaxanthin market.
The major factors driving the astaxanthin market include the growing awareness about the benefits of natural food colors and clean-label products and the increasing demand for natural cosmetics products and dietary supplements.
Furthermore, emerging economies in Asia-Pacific, Latin America, and the Middle East & Africa and government initiatives to support aquaculture are expected to provide significant opportunities for the growth of this market. However, the stringent regulatory and approval norms and the high cost of natural astaxanthin hinder the growth of this market to a notable extent.
The astaxanthin market is segmented by source, form, method of production, application, and geography.
The Impact of COVID-19 on the Astaxanthin Market
The COVID-19 outbreak created a severe public health emergency globally, with its quick spread in more than 150 countries. Numerous countries worldwide declared emergencies and announced complete nationwide, statewide, or citywide lockdowns to combat & control the spread of this disease, halting all travel, transport, manufacturing, educational institutions, and non-essential trade. This impacted many industries globally, including animal feed, food & beverage, dietary supplements, and cosmetics.
Governments enforced restrictions on operating capacities to ensure social distancing and curb the spread of the virus. Supply chains were disrupted, resulting in production limitations, complications in raw materials sourcing, and higher delivery costs, impacting the global astaxanthin market. Moreover, governments announced a temporary ban on foreign air travel. These factors affected the sales of astaxanthin products. In addition, restrictions on the export and import of non-essential products due to temporary border closures in some countries further hindered the growth of this market.
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However, according to an article published by Nutrition Outlook, the sales of dietary supplements increased during the pandemic due to their ability to strengthen the immune system against COVID-19. During the last week of March 2020, the sales of dietary supplements in the U.S. sharply increased by more than 35%. Thus, the growing demand for dietary supplements propelled the growth of the astaxanthin market.
Based on source, the astaxanthin market is segmented into natural and synthetic. In 2023, the natural segment is expected to account for the larger share of the astaxanthin market. The large market share of this segment is attributed to its strong antioxidant activity and health benefits, such as immune system support, inflammation reduction, sunburn prevention, and cognitive health support. In addition, factors such as high demand for natural astaxanthin in nutraceutical applications, wide-scale availability of natural astaxanthin, rising demand for astaxanthin for cancer treatment, growing health-conscious population, and higher efficacy compared to synthetic products are expected to fuel the growth of this segment.
Based on form, the astaxanthin market is segmented into dry and liquid. In 2023, the dry segment is expected to account for the larger share of the astaxanthin market. The large market share of this segment is attributed to the advantages of dry astaxanthin, such as ease in handling, transport, and use; longer shelf life of ingredients due to the absence of water; and better ingredient functionality and stability. These advantages have increased the utilization of astaxanthin in dry form in the food and beverages, pharmaceuticals, and cosmetics industries.
However, the liquid segment is projected to witness significant growth during the forecast period. The growth of this segment is attributed to the increasing use of liquid astaxanthin in the manufacturing of food & beverage products to improve viscosity, mouthfeel, product stability, texture, shelf life, pleasant taste, and appearance.
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Based on method of production, the astaxanthin market is segmented into chemical synthesis, microalgae cultivation, fermentation, and extraction. In 2023, the chemical synthesis segment is expected to account for the largest share of the astaxanthin market. The large market share of this segment is attributed to the low cost of production, easy application, and good stability against low pH.
Based on application, the astaxanthin market is segmented into food & beverages, nutraceuticals, animal feed, pharmaceuticals, personal care & cosmetics, and other applications. The nutraceuticals segment is projected to witness significant growth during the forecast period of 2023–2030. The rapid growth of this segment is mainly attributed to astaxanthin’s ability to control free radicals enhanced by nutraceuticals, thereby becoming the preferred choice to treat various health ailments, including muscle endurance, gastritis, diabetes, and cardiovascular diseases, among others. Furthermore, astaxanthin’s antioxidant properties, low side effects, and high nutritional value have made them the priority choice as raw materials in nutraceuticals.
Based on geography, in 2023, Europe is expected to account for the largest share of the astaxanthin market. The large market share of Europe is attributed to the growing food & beverage industry, rising health & wellness trends, increasing feed production, and growing demand for chemical-free cosmetics. Further, the increase in the aging population in the region has led to a surge in demand for astaxanthin to reduce the risk of diabetes, cancer, and other heart-related issues.
However, the market in Asia-Pacific is slated to record the fastest growth rate during the forecast period.
Some of the key players operating in the astaxanthin are Algatechnologies Ltd. (Israel), BASF SE (Germany), BGG (Beijing Gingko Group) (China), Cardax, Inc. (U.S.), Cyanotech Corporation (U.S.), Divi’s Laboratories Limited (India), Koninklijke DSM N.V. (Netherlands), Fenchem (China), Fuji Chemical Industries Co., Ltd. (Japan), Valensa International (U.S.), Otsuka Holdings Co., Ltd. (Japan), Piveg, Inc. (U.S.), Vidya Europe SAS (France), Wellgreen Technology Co., Ltd. (China), and Algalíf Iceland ehf (Iceland).
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Scope of the Report
Astaxanthin Market, by Source
- Natural
- Synthetic
Astaxanthin Market, by Form
Astaxanthin Market, by Method of Production
- Chemical Synthesis
- Microalgae Cultivation
- Fermentation
- Extraction
Astaxanthin Market, by Application
- Food & Beverages
- Nutraceuticals
- Animal Feed
- Pharmaceuticals
- Personal Care & Cosmetics
- Other Applications
Astaxanthin Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Latin America (LATAM)
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
- Middle East & Africa (MEA)
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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Artificial Intelligence
Mainland China-Hong Kong ETF Connect Marks Two Years of Strengthened Market Integration, Expansion Expected to Boost Investment Options and Liquidity
GUANGZHOU, China, July 8, 2024 /PRNewswire/ — On July 4th, the ETF Connect Program, which facilitated two way capital flows between mainland China and Hong Kong for eligible ETFs, celebrated its two-year anniversary. Over the past two years, the program strengthened its position in deepening the integration of the two capital markets, the number of eligible ETFs increasing from 87 to 151 since launch and the monthly Northbound trading volume rising from US$55 million to US$2.98 billion in June this year.
According to Hong Kong Stock Exchange, the current eligible ETFs consist of 84 listed on Shanghai Stock Exchange, 57 listed on Shenzhen Stock Exchange, and 10 listed on Hong Kong Stock Exchange. Among them, E Fund Management (“E Fund”), the largest fund manager in China, has a total of 14 ETFs included, covering a variety of indexes, including broad-based indexes such as CSI 300 Index and STAR 50 Index, thematic index such as CSI Artificial Intelligence Index, and strategic index such as CSI Dividend Index. Additionally, the average management fee of these offerings was less than 0.3% per annum, underscoring E Fund’s dedication to empower foreign investors to diversify their assets across both Hong Kong and mainland China markets in an efficient and cost-effective manner.
The scope of the program is expected to see significant expansion on July 22nd. It is believed that this expansion will serve offshore investors seeking exposure to A-share capital market with enhanced investment choices, and increase liquidity and trading activity of relevant ETFs in the same time.
About E FundEstablished in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive fund manager in China with close to RMB 3.3 trillion (US$ 454 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund’s clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.
Note: As at Jun 30, 2024. AuM includes subsidiaries. Source: PBoC, Wind.
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Artificial Intelligence
Revolutionizing EV Charging: Emobi and Autocrypt Unveil First US-based Plug & Charge Ecosystem Powered with AI
SAN FRANCISCO, July 8, 2024 /PRNewswire/ — Emobi and Autocrypt today announced the first US-based Plug & Charge ecosystem, set to revolutionize electric vehicle (EV) charging with artificial intelligence (AI).
In June 2023, Autocrypt, a global leader in automotive cybersecurity, partnered with Emobi, a US-based e-mobility hub, to develop a secure communication framework for EVs and charging stations based on ISO 15118-2 and ISO 15118-20 standards. The collaboration has focused on building a robust Public Key Infrastructure (PKI) utilizing fine-tuned AI and machine learning models to address errors and data inconsistencies prevalent in traditional Plug & Charge systems.
The Plug & Charge ecosystem enables EV drivers to start charging at any station simply by plugging in their vehicle. Through asymmetric encryption technology, the chargers automatically identify the EV and securely process the payment of the EV charging session. Unlike other Plug & Charge services, this is the first Plug & Charge ecosystem headquartered in the United States, ensuring data security and compliance with the US government. Additionally, it features an intelligent error-handling system that addresses edge cases in ISO 15118 standards, setting a new benchmark for the industry.
Throughout this collaboration, Emobi has worked closely with the U.S. Department of Energy (DOE) Argonne National Laboratory to ensure that findings from this ecosystem contribute to the National Charging Experience (ChargeX) Consortium, funded by the Joint Office of Energy and Transportation of the United States.
“Security in EV charging infrastructure enhances openness while providing better control,” said Sean HJ Cho, President of Autocrypt North America. “By combining our PKI technology with Emobi’s expertise in AI and machine learning, we are bringing a secure yet innovative Plug & Charge solution to market, creating an unrestricted charging environment that ensures convenience, precision, and security throughout the entire charging and payment processes.”
Lin Sun Fa, CEO of Emobi, added, “The focus is to enable EV automakers, charger operators, and e-mobility service providers to continue building their products without being hindered by edge cases and constantly evolving standards. We are leveraging AI and Autocrypt’s PKI technology within the existing ISO 15118 standards, ensuring ease of implementation while improving charging infrastructure quality and security.”
About Autocrypt Co., Ltd.
AUTOCRYPT is the industry leader in automotive cybersecurity and connected mobility technologies. The company specializes in the development and integration of security software and solutions for in-vehicle systems, V2X communications, Plug&Charge, and mobility platforms, paving the way towards a secure and reliable C-ITS ecosystem in the age of software-defined vehicles. AUTOCRYPT also provides consulting and testing services along with custom solutions for UN R155/156 and ISO/SAE 21434 compliance.
About Emobi
EMOBI is the EV charging ecosystem that powers hundreds of e-mobility businesses with AI. The ecosystem offers instantaneous access to a vast network of EV charging networks and e-mobility partners, while ensuring superior data quality through its refinement models. With over 120,000 connected charging ports in the United States and Canada, Emobi has established itself as the largest roaming hub in North America powered with AI. In addition, Emobi has garnered trust in the e-mobility market, advising leading EV manufacturers, e-mobility enterprises, startups, utilities, and esteemed U.S. Government Agencies like the Department of Energy (DoE) and the Department of Transportation (DoT).
View original content:https://www.prnewswire.co.uk/news-releases/revolutionizing-ev-charging-emobi-and-autocrypt-unveil-first-us-based-plug–charge-ecosystem-powered-with-ai-302189861.html
Get Ready to island hop with “La Bamba” in the new trailer for My Talking Hank: Islands!
LIMASSOL, Cyprus, July 8, 2024 /PRNewswire/ — Outfit7 has secured the license to use the iconic song “La Bamba” for promotion of their game, My Talking Hank: Islands. Featured in the brand new trailer that debuted last week, the song adds a feel-good vibe to the latest major release from Talking Tom & Friends.
This winning combo expresses just how much Outfit7 loves mixing pop culture with fun gameplay to make things more exciting for players. “‘La Bamba’ isn’t just a catchy tune; it sets the whole mood!” said Helder Lopes, VP of Creative Functions and R&D at Outfit7. “It really taps into the adventurous, explorative spirit of My Talking Hank: Islands.”
My Talking Hank: Islands launches players into a colorful island world filled with secrets, treasures, and friendly animals eager to befriend you. It’s not just a game; it’s an invitation to discover an island filled with excitement and mystery. The trailer featuring “La Bamba” is available on various digital platforms, including YouTube, the game’s official website, and Outfit7’s social media channels. For the first month after release, players can also watch the trailer through the in-game cinema feature, which can be found in Hank’s Tree House!
Get ready to set sail with “La Bamba” as your soundtrack! Dive into the fun today and check out the brand-new trailer on YouTube, on the game’s official website, and Outfit7’s social media channels.
For more details and to view the trailer, please visit HERE. To download the game, click HERE.
ABOUT OUTFIT7: Outfit7 Limited is a dynamic force in mobile gaming, reaching a global audience of billions with its award-winning games. Powered by creativity and industry-leading expertise, the company’s talented international team of over 400 people pushes the boundaries of the possible every day. Outfit7’s 20+ games have now been downloaded worldwide over 23 billion times and up to 470 million fans play with them every month. Its portfolio also includes numerous chart-topping animated series, theme parks, and a licensing program. You can find more information at www.outfit7.com.
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View original content:https://www.prnewswire.co.uk/news-releases/outfit7-brings-iconic-la-bamba-song-to-my-talking-hank-islands-302189933.html
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