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Global Astaxanthin Market Size, Share, Trends, Report: By Product: Dried Algae Meal or Biomass, Oil, Soft gel, Liquid, Others; By Source: Natural, Synthetic; By Application: Aquaculture and animal feed, Nutraceuticals, Cosmetics, Food and Beverages, Others; Regional Analysis; Patent Analysis; Grants Analysis; Supplier Landscape; 2024-2032
Global Astaxanthin Market Outlook
The global astaxanthin market size attained a value of USD 1.50 billion in 2023. The market is likely to grow at a CAGR of 20.6% during the forecast period of 2024-2032, likely to reach a value of USD 7.68 billion by 2032.
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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
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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
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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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Source |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Astaxanthin Market Overview
3.1 Global Astaxanthin Market Historical Value (2017-2023)
3.2 Global Astaxanthin Market Forecast Value (2024-2032)
4 Global Astaxanthin Market Landscape
4.1 Global Astaxanthin Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Astaxanthin Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Source
4.2.3 Analysis by Applications
5 Global Astaxanthin Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Astaxanthin Market Segmentation
6.1 Global Astaxanthin Market by Product
6.1.1 Market Overview
6.1.2 Dried Algae Meal or Biomass
6.1.3 Oil
6.1.4 Soft gel
6.1.5 Liquid
6.1.6 Others
6.2 Global Astaxanthin Market by Source
6.2.1 Market Overview
6.2.2 Natural
6.2.2.1 Yeast
6.2.2.2 Krill/Shrimp
6.2.2.3 Microalgae
6.2.2.4 Others
6.2.3 Synthetic
6.3 Global Astaxanthin Market by Application
6.3.1 Market Overview
6.3.2 Aquaculture and animal feed
6.3.3 Nutraceuticals
6.3.4 Cosmetics
6.3.5 Food and Beverages
6.3.6 Others
6.4 Global Astaxanthin Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Astaxanthin Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Astaxanthin Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Astaxanthin Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Astaxanthin Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Astaxanthin Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Clinical Trials Analysis
14.1 Analysis by Trial Registration Year
14.2 Analysis by Trial Status
14.3 Analysis by Trial Phase
14.4 Analysis by Therapeutic Area
14.5 Analysis by Geography
15 Funding Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Regulatory Framework
17.1 Regulatory Overview
17.1.1 US FDA
17.1.2 EU EMA
17.1.3 INDIA CDSCO
17.1.4 JAPAN PMDA
17.1.5 Others
18 Supplier Landscape
18.1 Algatech Ltd
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 Cyanotech Corporation.
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 MicroA
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Beijing Gingko Group (BGG)
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Algalíf Iceland ehf
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Fuji Chemical Industries Co., Ltd.
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 CO2 GRO Inc.
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 E.I.D. – Parry (India) Limited
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 PIVEG, Inc.
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Atacama Bio Natural Products S.A
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
18.11 ENEOS Corporation
18.11.1 Financial Analysis
18.11.2 Product Portfolio
18.11.3 Demographic Reach and Achievements
18.11.4 Mergers and Acquisitions
18.11.5 Certifications
19 Global Astaxanthin Market- Distribution Model (Additional Insight)
19.1 Overview
19.2 Potential Distributors
19.3 Key Parameters for Distribution Partner Assessment
20 Key Opinion Leaders (KOL) Insights (Additional Insight)
21 Company Competitiveness Analysis (Additional Insight)
21.1 Very Small Companies
21.2 Small Companies
21.3 Mid-Sized Companies
21.4 Large Companies
21.5 Very Large Companies
22 Payment Methods (Additional Insight)
22.1 Government Funded
22.2 Private Insurance
22.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The astaxanthin market was valued at USD 1.50 billion in 2023.
The market is expected to grow at a CAGR of 20.6% from 2024 to 2032 to reach USD a value of USD 7.68 billion by 2032.
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.
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