TAGS: Sustainability / Natural Cosmetics Decorative Cosmetic
Willow Biosciences announces that it has completed proof of concept work and has started yeast strain optimization and process development toward commercial production of astaxanthin, a powerful, naturally occurring, antioxidant compound that is used in diverse industries such as animal feed, food & nutrition, and cosmetics.
Bio-based Product for Human Health & Wellness
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We are pleased to add astaxanthin as the next functional ingredient to our product portfolio. Astaxanthin meets all the criteria for development using our fully integrated FutureGrown™ technology platform,” said Dr. Peter Seufer-Wasserthal, Willow's Interim president and chief executive officer.
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It has a large addressable market, with the majority of product currently supplied being chemically produced using a petroleum feedstock, ” continued Dr. Wasserthal.
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Willow Biosciences offering a natural, clean, sustainably produced product allows not only penetration of the current large volume market, but expansion of the market for human health & wellness, where there is currently no high-purity, cost effective bio-based product available,” added Dr. Wasserthal.
Astaxanthin is a red pigment, belonging to a group of chemicals known as carotenoids. In addition to its pigmentation properties, it is one of nature’s most powerful antioxidants. Astaxanthin occurs naturally in algae and is used as an animal feed additive, enhancing the red or pink color in trout, salmon, shrimp, lobster and other seafood, and yolk color in eggs.
Astaxanthin is also used in food & nutrition and cosmetics, where its powerful antioxidant properties are prized. The Company intends to update stakeholders as key milestones along the development timeline are met, which may include establishing partnerships for product development and distribution.
Pure & Natural Functional Ingredient - Astaxanthin
Astaxanthin is an attractive functional ingredient that has a large, established market, estimated to be approximately $US 750 million in 2022 with an estimated compound annual growth rate of 8%, and projected to exceed $US 1 billion by 2027.
Utilizing its fully integrated FutureGrown™ technology platform and strains previously developed on its cannabinoid program, Willow Biosciences is developing a high purity, sustainably produced natural astaxanthin using yeast that is bio-identical to that found in nature yet expected to be sufficiently cost-effective to compete with the chemically produced product.
Willow’s FutureGrown™ Astaxanthin is also expected to be suitable for the food & nutrition and cosmetics markets, which are currently served by low-purity, high-cost material produced using algae.
With global consumer expectations shifting to healthier, more natural sources of functional ingredients, Willow Biosciences believes its FutureGrown™ Astaxanthin will be welcomed by the market, and in high demand.
Willow Biosciences has completed proof of concept work, and development is currently underway to establish a commercial production process for pure, consistent & sustainable FutureGrown™ Astaxanthin.
Source: Willow Biosciences