According to the FDA, “Astaxanthin is the major carotenoid responsible for the pink-red pigmentation of fish and shrimps. Being a pigment, astaxanthin has been shown to have other biological and nutritional functions, linked to its ability to act as a powerful antioxidant.” Astaxanthin, also called the “king of carotenoids,” occurs naturally in certain algae and imparts pink-red color in trout, lobster, shrimp, and other seafood. Its natural sources include microalgae, yeast, salmon, trout, krill, shrimp, crayfish, and crustaceans, while petroleum is a synthetic source. Astaxanthin is used as a pigmentation source in aquafeed and poultry. It is a powerful antioxidant having pharmaceutical applications and beneficial effects on various human diseases. It provides protection against DNA damage and UV light effects on eyes, also playing a significant role in immunological defense. Astaxanthin also has anti-inflammatory properties. Other health benefits associated with astaxanthin are cardiovascular disease prevention, boosting immunity, bioactivity against Helicobacter pylori, and cataract prevention. Among all types of carotenoids, the market for astaxanthin in considered the largest because of its easy availability and many applications in nutraceutical, pharmaceutical, animal feed, especially aquaculture, and cosmetic industries. ___________ 1. Core competencies of the companies are captured in terms of their key developments and key strategies adopted by them to sustain their positions in the market.

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.