Next generation nutraceutical from shrimp waste: The convergence of applications with extraction methods

•This review highlights the chemistry and role of nutraceutical astaxanthin in shrimp pigmentation.•It focuses on current progress in applications of astaxanthin.•Different extraction methods starting with chemical to eco friendly methods were discussed.•Assess the merits and future challenges in applications and extraction methods of astaxanthin. In recent years considerable progress in health therapy makes a significant improvement in natural nutraceuticals. Shrimp is a valuable natural sea food and is processed by removing head, tail and carapace as waste. The large amounts of waste produced by sea food industries capitulate, recoverable nutraceutical compound astaxanthin. This review emphasizes the chemistry and role of astaxanthin in pigmentation. The study highlights progress in applications and describes the current extraction methods starting with chemical to the best eco-friendly microbial processes. Relevant literature on the methods giving summary of results obtained using each approach has been reviewed and critically discussed. Intense research in advancing extraction methods to enhance productivity and to meet the demands of the consumer was discussed in future challenges. Further, aimed at collating valuable information about applications and recent extraction methodologies will promote a concept of intake of “a nutraceutical a day may keep the doctor away”.