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Global Astaxanthin Market: By Product: Dried Algae Meal or Biomass, Oil, Softgel, Liquid, Others; By Source: Natural, Synthetic; By Application: Aquaculture and Animal Feed, Nutraceuticals, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Astaxanthin Market Outlook

The global astaxanthin market is expected to grow at a CAGR of 16.2% during the period 2022-2027. Key markets are projected to be North America, Europe and Asia.

 

Global Astaxanthin Market

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Global Market Likely to be Driven by Uses in Pharmaceuticals and Nutraceuticals

The nutraceutical market for encapsulated products has witnessed a surge due to the unique antioxidant properties of astaxanthin. It has been reported that astaxanthin offers several beneficial health effects and helps in the prevention and treatment of multiple diseases, including cancer, chronic inflammatory diseases, metabolic syndrome, diabetes, diabetic nephropathy, cardiovascular diseases, gastrointestinal diseases, liver diseases, neurodegenerative diseases, eye diseases, skin diseases, exercise-induced fatigue, male infertility, and renal failure. It is also said to boost immunity.

Astaxanthin, a xanthophyll carotenoid, is a dark-red, fat-soluble pigment that does not exhibit a pro-Vitamin A activity in human body (although it has been reported that astaxanthin carries more potent biological activity as compared to other carotenoids); it is the chief carotenoid found in algae and aquatic animals. Astaxanthin is found in several kinds of seafood, such as salmon, trout, red sea bream, shrimp and lobster; it is also found in birds like flamingo and quail. While synthetic astaxanthin is readily available in markets across the world, interest in natural sources of astaxanthin has grown significantly. Sources of natural astaxanthin include the green algae haematococcus pluvialis, the red yeast, Phaffia rhodozyma, and crustacean by-products. Haematococcus pluvialis, a green microalga gathers high astaxanthin matter under stress environments like high salinity, deficiency of nitrogen, high heat and light. Astaxanthin for human consumption is largely produced from H. pluvialis.

 

Health Benefits Offered by Astaxanthin and its Potential Use in Treatment of Various Diseases Expected to Boost the Global Astaxanthin Market

Astaxanthin’s antioxidant properties form the basis of reported health benefits. Astaxanthin has been associated with enhanced blood flow and reduced oxidative stress in smokers and obese individuals. According to some reports, comparative studies on astaxanthin and other carotenoids have revealed that astaxanthin exhibited the highest antioxidant activity against free radicals.

Astaxanthin has been reported to offer short- and long-term benefits for breast cancer treatment, including decreased growth of breast cancer cells.

Topical application of astaxanthin (in combination with oral dosage) is said to help in smoothing wrinkles, making age spots smaller, and maintaining skin moisture.

Some reports suggest that astaxanthin may help overcome fatigue after exercise and enhance endurance; it may also help prevent skeletal and muscle damage.

It has been suggested that astaxanthin may offer benefits related to heart health; it may prevent heart health and help decrease cholesterol levels.

Astaxanthin is also reported to show promise in treatment of conditions associated with joints, such as rheumatoid arthritis and carpal tunnel syndrome; astaxanthin may help decrease pain and inflammation in arthritis related symptoms.

 

Increasing Use of Astaxanthin in Food and Health Supplements Expected to Stimulate Global Astaxanthin Market

Astaxanthin is increasingly being used as a nutritional supplement in foods, feeds, pharmaceuticals and nutraceuticals. These applications are expected to contribute to market growth. For commercial applications, astaxanthin products generally come in the form of soft gels, capsules, oils, syrups, creams, tablets, biomass and granulated powders.

 

Market Segmentation

 

Global Astaxanthin Market by Segments

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By product, the market is classified into:

  • Dried Algae Meal or Biomass
  • Oil
  • Softgel
  • Liquid 
  • Others

By source, the market is segmented into:

  • Natural
  • Synthetic

By application, the market is divided into:

  • Aquaculture and Animal Feed
  • Nutraceuticals
  • Cosmetics
  • Food
  • Others

By region, the market is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Global Astaxanthin Market by Region

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Key Industry Players in the Global Astaxanthin Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Algatech Ltd.
  • Cyanotech Corporation
  • Fuji Chemical Industries Co., Ltd.
  • CO2 GRO Inc.
  • MicroA
  • E.I.D. – Parry (India) Limited 
  • Beijing Gingko Group
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Astaxanthin Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Astaxanthin Historical Market (2017-2021) 
    8.3    Global Astaxanthin Market Forecast (2022-2027)
    8.4    Global Astaxanthin Market by Product
        8.4.1    Dried Algae Meal or Biomass
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Oil
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Softgel
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Liquid 
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
        8.4.5    Others
    8.5    Global Astaxanthin Market by Source
        8.5.1    Natural
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Synthetic
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Astaxanthin Market by Application
        8.6.1    Aquaculture and Animal Feed
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Nutraceuticals
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Cosmetics
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Food
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
        8.6.5    Others
    8.7    Global Astaxanthin Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Algatech Ltd.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Cyanotech Corporation
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Fuji Chemical Industries Co., Ltd.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    CO2 GRO Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    MicroA
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    E.I.D. – Parry (India) Limited 
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Beijing Gingko Group
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
        12.2.8    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Astaxanthin Market: Key Industry Highlights, 2017 and 2027
2.    Global Astaxanthin Historical Market: Breakup by Product (USD Million), 2017-2021
3.    Global Astaxanthin Market Forecast: Breakup by Product (USD Million), 2022-2027
4.    Global Astaxanthin Historical Market: Breakup by Source (USD Million), 2017-2021
5.    Global Astaxanthin Market Forecast: Breakup by Source (USD Million), 2022-2027
6.    Global Astaxanthin Historical Market: Breakup by Application (USD Million), 2017-2021
7.    Global Astaxanthin Market Forecast: Breakup by Application (USD Million), 2022-2027
8.    Global Astaxanthin Historical Market: Breakup by Region (USD Million), 2017-2021
9.    Global Astaxanthin Market Forecast: Breakup by Region (USD Million), 2022-2027
10.    North America Astaxanthin Historical Market: Breakup by Country (USD Million), 2017-2021
11.    North America Astaxanthin Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Europe Astaxanthin Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Europe Astaxanthin Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Asia Pacific Astaxanthin Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Asia Pacific Astaxanthin Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Latin America Astaxanthin Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Latin America Astaxanthin Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Middle East and Africa Astaxanthin Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Middle East and Africa Astaxanthin Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Global Astaxanthin Market Structure

Key Questions Answered in the Report

The global astaxanthin market is projected to grow at a CAGR of 16.2% between 2022 and 2027.

The major drivers of the market include the growing number of health-conscious individuals, growing preference for dietary supplements, rising adoption of novel technologies, government initiatives, and high consumer disposable income levels.

High demand for nutraceuticals and the use of astaxanthin in the prevention and treatment of multiple diseases, including cancer, chronic inflammatory diseases, and other diseases are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various products in the market are dried algae meal or biomass, oil, softgel, and liquid, among others.

The various sources of astaxanthin include natural and synthetic.

The significant applications include aquaculture and animal feed, nutraceuticals, cosmetics, and food, among others.

The major players in the industry are Algatech Ltd., Cyanotech Corporation, Fuji Chemical Industries Co., Ltd., CO2 GRO Inc., MicroA, E.I.D. – Parry (India) Limited, and Beijing Gingko Group, among others.

Analyst Review

The global astaxanthin market was driven by the high demand for nutraceuticals in the historical period. Aided by the growing number of health-conscious individuals and growing preference for dietary supplements growing number of health-conscious individuals, growing preference for dietary supplements, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 16.2%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various products in the market are dried algae meal or biomass, oil, softgel, and liquid, among others. The various sources of astaxanthin are natural and synthetic. The significant applications include aquaculture and animal feed, nutraceuticals, cosmetics, and food, among others. The major regional markets for astaxanthin are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Algatech Ltd., Cyanotech Corporation, Fuji Chemical Industries Co., Ltd., CO2 GRO Inc., MicroA, E.I.D. – Parry (India) Limited, and Beijing Gingko Group, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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