Astaxanthin Market Size, Share & Trends Analysis Report By Product (Oil, Softgel, Liquid), By Source (Natural, Synthetic), By Application (Aquaculture & Animal Feed, Nutraceuticals), By Region, And Segment Forecasts, 2024 - 2030

Astaxanthin Market Size, Share & Trends Analysis Report By Product (Oil, Softgel, Liquid), By Source (Natural, Synthetic), By Application (Aquaculture & Animal Feed, Nutraceuticals), By Region, And Segment Forecasts, 2024 - 2030


Astaxanthin Market Growth & Trends

The global astaxanthin market size is expected to reach USD 7.28 billion by 2030, set to grow at a 17.1% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for nutraceuticals and growing applications of carotenoids in the animal feed industry & aquaculture are the major factors driving the market growth. Moreover, the rapidly aging population and the growing health awareness among consumers are likely to support market expansion.

The market is anticipated to witness growth opportunities owing to growth in the aquaculture and fishing sectors. For instance, Germany is expanding its fish production and according to the federal statistical office of Germany, the country produced around 18,300 tons of fish in 2021. The growth in the aquaculture sector across the globe is likely to propel the demand for astaxanthin as the pigment helps to boost the immunity of animals and enhance the pigmentation of aquatic animals, such as ornamental fish, and rainbow trout.

Moreover, the market growth is also fueled by various research & development activities to increase the adoption of astaxanthin. For instance, in December 2021, AstaReal and the University of Tsukuba announced a new patent and research showing that the astaxanthin molecules modulate the genes of the brain involved in neuron formation, memory, and learning. Moreover, in July 2020, Russian and German university scientists from SPbPU and TUHH announced a collaboration to enhance the production of astaxanthin for its antioxidant application.

Moreover, increasing studies related to the health benefits of natural astaxanthin are expected to increase the market uptake. For instance, in August 2022, a study published by the American Journal of Clinical Nutrition stated that krill oil can help manage stiffness, knee pain, and physical function in adults with osteoarthritis & knee pain between the ages of 40 and 65 years.

In addition, owing to the high demand for astaxanthin in international markets various leading players are strengthening their supply chain capabilities to make their products available. For instance, in July 2021, Atacama Bio Natural Products S.A. signed an exclusive distribution agreement with Guangzhou Carelife Food Additives Co., Ltd. to promote its distribution network in China. Moreover, in June 2022, Pharmactive Biotech Products partnership with Singapore-based Nutraconnect to introduce scientifically backed novel nutraceuticals into the Asia Pacific market.

Furthermore, supportive regulatory policies and increasing approval of products are driving the industry’s growth. For instance, in July 2021, NextFern Technologies received regulatory approval for its Astafern from Health Canada. Astafern is an innovative fermented astaxanthin antioxidant in form of gummies. In addition, the government has undertaken supportive registration requirements for carotenoid-based coloring agents and mixed feeds containing carotenoid-based coloring agents.

Astaxanthin Market Report Highlights
  • Based on product, the dried algae meal or biomass segment accounted for the largest share in 2023 due to the high usage as animal feed and lower cost of production
  • The aquaculture & animal feed segment was the highest revenue contributor in 2023. Whereas, the nutraceuticals segment is expected to exhibit the fastest CAGR during the projected period
  • The Asia Pacific region is expected to grow at the fastest rate over the forecast period due to the rising investments by market players and increasing research activities in the region
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Chapter 1 Methodology and Scope
1.1 Market Segmentation and Scope
1.1.1 Segment scope
1.1.2 Regional scope
1.1.3 Estimates and forecast timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased database:
1.3.2 GVR’s internal database
1.3.3 Secondary sources
1.3.4 Primary research
1.3.5 Details of primary research
1.4 Information or Data Analysis
1.4.1 Data analysis models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis
1.6.1.1 Approach: Commodity Flow Approach
1.7 Research Assumptions
1.8 List of Secondary Sources
1.9 List of Abbreviations
1.10 Objectives
1.10.1 Objective 1
1.10.2 Objective 2
1.10.3 Objective 3
1.10.4 Objective 4
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Chapter 3 Astaxanthin Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market
3.2 Market Dynamics
3.2.1 Market drivers analysis
3.2.1.1 Increasing demand for nutraceuticals and natural antioxidants
3.2.1.2 Introduction of advanced technologies
3.2.1.3 Increase in adoption of natural cosmetics, nutraceuticals, and pharmaceuticals
3.2.1.4 Increased use in aquaculture and coloring of fish
3.2.2 Market restraint analysis
3.2.2.1 High cost of production
3.2.2.2 Excess space requirement
3.3 Penetration & Growth Prospect Mapping
3.4 Astaxanthin: Market Analysis Tools
3.4.1 Industry analysis - Porter’s
3.4.2 PESTLE analysis
3.5 Regulatory Framework
3.6 Pricing Analysis
Chapter 4 Astaxanthin Market Segment Analysis, By Source, 2018 - 2030 (USD Million) (Volume in Metric Tonnes)
4.1 Definition and Scope
4.2 Source Market Share Analysis, 2023 & 2030
4.3 Segment Dashboard
4.4 Global Astaxanthin Market, by Source, 2018 to 2030
4.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.5.1 Natural
4.5.1.1 Natural market estimates and forecasts, 2018 - 2030 (USD Million)
4.5.1.1 Yeast
4.5.1.1.1 Yeast market estimates and forecasts, 2018 - 2030 (USD Million)
4.5.1.2 Krill/Shrimp
4.5.1.2.1 Krill/Shrimp market estimates and forecasts, 2018 - 2030 (USD Million)
4.5.1.3 Microalgae
4.5.1.3.1 Microalgae market estimates and forecasts, 2018 - 2030 (USD Million)
4.5.1.4 Others
4.5.1.4.1 Others market estimates and forecasts, 2018 - 2030 (USD Million)
4.5.2 Synthetic
4.5.2.1 Synthetic market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5 Astaxanthin Market Segment Analysis, By Product 2018 - 2030 (USD Million)
5.1 Definition and Scope
5.2 Product Market Share Analysis, 2023 & 2030
5.3 Segment Dashboard
5.4 Global Astaxanthin Market, by Product, 2018 to 2030
5.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.5.1 Dried algae meal or Biomass
5.5.1.1 Dried algae meal or Biomass market estimates and forecasts, 2018 - 2030 (USD Million)
5.5.2 Oil
5.5.2.1 Oil market estimates and forecasts, 2018 - 2030 (USD Million)
5.5.3 Softgel
5.5.3.1 Softgel market estimates and forecasts, 2018 - 2030 (USD Million)
5.5.4 Liquid
5.5.4.1 Liquid market estimates and forecasts, 2018 - 2030 (USD Million)
5.5.5 Others
5.5.5.1 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6 Astaxanthin Market Segment Analysis, By Application, 2018 - 2030 (USD Million)
6.1 Definition and Scope
6.2 Application Market Share Analysis, 2023 & 2030
6.3 Segment Dashboard
6.4 Global Astaxanthin Market, by Application, 2018 to 2030
6.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.5.1 Nutraceuticals
6.5.1.1 Nutraceuticals market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2 Cosmetics
6.5.2.1 Cosmetics market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.3 Aquaculture and animalFeed
6.5.3.1 Aquaculture and animalFeed market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.4 Food
6.5.4.1 Food market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.4.2 Functional foods and beverages
6.5.4.2.1 Functional foods and beverages market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.4.3 Other traditional food manufacturing applications
6.5.3.1 Other traditional food manufacturing applications market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.5 Others
6.5.5.1 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7 Astaxanthin Market Segment Analysis, By Region, 2018 - 2030 (USD Million)
7.1 Definition & Scope
7.2 Regional Market Share Analysis, 2023 & 2030
7.3 Regional Market Dashboard
7.4 Regional Market Snapshot
7.5 SWOT Analysis
7.5.1 North America
7.5.2 Europe
7.5.3 Asia Pacific
7.5.4 Latin America
7.5.5 Middle East and Africa
7.6 Market Size, & Forecasts, Revenue and Trend Analysis, 2018 to 2030
7.6.1 North America
7.6.1.1 North America market estimates and forecast, 2018 - 2030 (USD Million)
7.6.1.2 U.S.
7.6.1.2.1 Key Country Dynamics
7.6.1.2.2 Competitive Scenario
7.6.1.2.3 Regulatory Framework
7.6.1.2.4 Production & Improt/Export of Astaxanthin
7.6.1.2.5 U.S. astaxanthin market estimates and forecasts, 2018 - 2030 (USD Million)
7.6.1.3 Canada
7.6.1.3.1 Key Country Dynamics
7.6.1.3.2 Competitive Scenario
7.6.1.3.3 Regulatory Framework
7.6.1.3.4 Production & Improt/Export of Astaxanthin
7.6.1.3.5 Canada astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2 Europe
7.6.2.1 Europe astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.2 UK
7.6.2.2.1 Key Country Dynamics
7.6.2.2.2 Competitive Scenario
7.6.2.2.3 Regulatory Framework
7.6.2.2.4 Production & Improt/Export of Astaxanthin
7.6.2.2.5 UK astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.3 Germany
7.6.2.3.1 Key Country Dynamics
7.6.2.3.2 Competitive Scenario
7.6.2.3.3 Regulatory Framework
7.6.2.3.4 Production & Improt/Export of Astaxanthin
7.6.2.3.5 Germany astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.4 Spain
7.6.2.4.1 Key Country Dynamics
7.6.2.4.2 Competitive Scenario
7.6.2.4.3 Regulatory Framework
7.6.2.4.4 Production & Improt/Export of Astaxanthin
7.6.2.4.5 Spain astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.5 France
7.6.2.5.1 Key Country Dynamics
7.6.2.5.2 Competitive Scenario
7.6.2.5.3 Regulatory Framework
7.6.2.5.4 Production & Improt/Export of Astaxanthin
7.6.2.5.5 France astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.6 Italy
7.6.2.6.1 Key Country Dynamics
7.6.2.6.2 Competitive Scenario
7.6.2.6.3 Regulatory Framework
7.6.2.6.4 Production & Improt/Export of Astaxanthin
7.6.2.6.5 Italy astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.7 Russia
7.6.2.7.1 Key Country Dynamics
7.6.2.7.2 Competitive Scenario
7.6.2.7.3 Regulatory Framework
7.6.2.7.4 Production & Improt/Export of Astaxanthin
7.6.2.7.5 Russia astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.7 Denmark
7.6.2.7.1 Key Country Dynamics
7.6.2.7.2 Competitive Scenario
7.6.2.7.3 Regulatory Framework
7.6.2.7.4 Production & Improt/Export of Astaxanthin
7.6.2.7.5 Denmark astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.9 Sweden
7.6.2.9.1 Key Country Dynamics
7.6.2.9.2 Competitive Scenario
7.6.2.9.3 Regulatory Framework
7.6.2.9.4 Production & Improt/Export of Astaxanthin
7.6.2.9.5 Sweden astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.2.10 Norway
7.6.2.10.1 Key Country Dynamics
7.6.2.10.2 Competitive Scenario
7.6.2.10.3 Regulatory Framework
7.6.2.10.4 Production & Improt/Export of Astaxanthin
7.6.2.10.5 Norway astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3 Asia Pacific
7.6.3.1 Asia Pacific astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3.2 Japan
7.6.3.2.1 Key Country Dynamics
7.6.3.2.2 Competitive Scenario
7.6.3.2.3 Regulatory Framework
7.6.3.2.4 Production & Improt/Export of Astaxanthin
7.6.3.2.5 Japan astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3.3 China
7.6.3.3.1 Key Country Dynamics
7.6.3.3.2 Competitive Scenario
7.6.3.3.3 Regulatory Framework
7.6.3.3.4 Production & Improt/Export of Astaxanthin
7.6.3.3.5 China astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3.4 India
7.6.3.4.1 Key Country Dynamics
7.6.3.4.2 Competitive Scenario
7.6.3.4.3 Regulatory Framework
7.6.3.4.4 Production & Improt/Export of Astaxanthin
7.6.3.4.5 India astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3.5 South Korea
7.6.3.5.1 Key Country Dynamics
7.6.3.5.2 Competitive Scenario
7.6.3.5.3 Regulatory Framework
7.6.3.5.4 Production & Improt/Export of Astaxanthin
7.6.3.5.5 South Korea astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3.6 Australia
7.6.3.6.1 Key Country Dynamics
7.6.3.6.2 Competitive Scenario
7.6.3.6.3 Regulatory Framework
7.6.3.6.4 Production & Improt/Export of Astaxanthin
7.6.3.6.5 Australia astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3.7 Singapore
7.6.3.7.1 Key Country Dynamics
7.6.3.7.2 Competitive Scenario
7.6.3.7.3 Regulatory Framework
7.6.3.7.4 Production & Improt/Export of Astaxanthin
7.6.3.7.5 Singapore astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.3.7 Thailand
7.6.3.7.1 Key Country Dynamics
7.6.3.7.2 Competitive Scenario
7.6.3.7.3 Regulatory Framework
7.6.3.7.4 Production & Improt/Export of Astaxanthin
7.6.3.7.5 Thailand astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.4 Latin America
7.6.4.1 Latin America astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.4.2 Brazil
7.6.4.2.1 Key Country Dynamics
7.6.4.2.2 Competitive Scenario
7.6.4.2.3 Regulatory Framework
7.6.4.2.4 Production & Improt/Export of Astaxanthin
7.6.4.2.5 Brazil astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.4.3 Mexico
7.6.4.3.1 Key Country Dynamics
7.6.4.3.2 Competitive Scenario
7.6.4.3.3 Regulatory Framework
7.6.4.3.4 Production & Improt/Export of Astaxanthin
7.6.4.3.5 Mexico astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.4.4 Argentina
7.6.4.4.1 Key Country Dynamics
7.6.4.4.2 Competitive Scenario
7.6.4.4.3 Regulatory Framework
7.6.4.4.4 Production & Improt/Export of Astaxanthin
7.6.4.4.5 Argentina astaxanthin market estimates and forecasts, 2018 - 2030 (USD Million)
7.6.4.5 Ecuador
7.6.4.5.1 Key Country Dynamics
7.6.4.5.2 Competitive Scenario
7.6.4.5.3 Regulatory Framework
7.6.4.5.4 Production & Improt/Export of Astaxanthin
7.6.4.5.5 Ecuador astaxanthin market estimates and forecasts, 2018 - 2030 (USD Million)
7.6.5 MEA
7.6.5.1 MEA astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.5.2 South Africa
7.6.5.2.1 Key Country Dynamics
7.6.5.2.2 Competitive Scenario
7.6.5.2.3 Regulatory Framework
7.6.5.2.4 Production & Improt/Export of Astaxanthin
7.6.5.2.5 South Africa astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.5.3 Saudi Arabia
7.6.5.3.1 Key Country Dynamics
7.6.5.3.2 Competitive Scenario
7.6.5.3.3 Regulatory Framework
7.6.5.3.4 Production & Improt/Export of Astaxanthin
7.6.5.3.5 Saudi Arabia astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.5.4 UAE
7.6.5.4.1 Key Country Dynamics
7.6.5.4.2 Competitive Scenario
7.6.5.4.3 Regulatory Framework
7.6.5.4.4 Production & Improt/Export of Astaxanthin
7.6.5.4.5 UAE astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.5.5 Israel
7.6.5.5.1 Key Country Dynamics
7.6.5.5.2 Competitive Scenario
7.6.5.5.3 Regulatory Framework
7.6.5.5.4 Production & Improt/Export of Astaxanthin
7.6.5.5.5 Israel astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
7.6.5.6 Kuwait
7.6.5.6.1 Key Country Dynamics
7.6.5.6.2 Competitive Scenario
7.6.5.6.3 Regulatory Framework
7.6.5.6.4 Production & Improt/Export of Astaxanthin
7.6.5.6.5 Kuwait astaxanthin market estimates and forecasts , 2018 - 2030 (USD Million)
Chapter 8 Astaxanthin Market - Competitive Analysis
8.1 Recent Developments & Impact Analysis, by Key Market Participants
8.1.1 Ansoff matrix
8.1.2 Heat map analysis
8.1.3 Major Deals and Strategic Alliances Analysis
8.1.3.1 Joint Ventures
8.1.3.2 Licensing Agreements
8.1.3.3 Product Launches
8.1.3.1 Conferences and Campaigns
8.2 Company Categorization
8.2.1 Innovators
8.2.2 Market Leaders
8.3 Vendor Landscape
8.3.1 List of key distributors and channel partners
8.3.2 Key customers
8.4 Public Companies
8.4.1 Competitive Dashboard Analysis
8.4.1.1 Market Differentiators
8.5 Private Companies
8.5.1 List of key emerging companies
8.6 Company Profiles
8.6.1 Algatech Ltd
8.6.1.1 Company overview
8.6.1.2 Financial performance
8.6.1.3 Product benchmarking
8.6.1.4 Strategic Initiatives
8.6.2 Cyanotech Corporation.
8.6.2.1 Company overview
8.6.2.2 Financial performance
8.6.2.3 Product benchmarking
8.6.2.4 Strategic Initiatives
8.6.3 MicroA
8.6.3.1 Company overview
8.6.3.2 Financial performance
8.6.3.3 Product benchmarking
8.6.3.4 Strategic Initiatives
8.6.4 Beijing Gingko Group (BGG)
8.6.4.1 Company overview
8.6.4.2 Financial performance
8.6.4.3 Product benchmarking
8.6.4.4 Strategic Initiatives
8.6.5 Algalíf Iceland ehf
8.6.5.1 Company overview
8.6.5.2 Financial performance
8.6.5.3 Product benchmarking
8.6.5.4 Strategic Initiatives
8.6.6 Fuji Chemical Industries Co., Ltd
8.6.6.1 Company overview
8.6.6.2 Financial performance
8.6.6.3 Product benchmarking
8.6.6.4 Strategic Initiatives
8.6.7 PIVEG, Inc.
8.6.7.1 Company overview
8.6.7.2 Financial performance
8.6.7.3 Product benchmarking
8.6.7.4 Strategic Initiatives
8.6.8 Atacama Bio Natural Products S.A
8.6.8.1 Company overview
8.6.8.2 Financial performance
8.6.8.3 Product benchmarking
8.6.8.4 Strategic Initiatives
8.6.9 ENEOS Corporation
8.6.9.1 Company overview
8.6.9.2 Financial performance
8.6.9.3 Product benchmarking
8.6.9.4 Strategic Initiatives
8.6.10 E.I.D. - Parry (India) Limited (Alimtec S.A., Valensa International)
8.6.10.1 Company overview
8.6.10.2 Financial performance
8.6.10.3 Product benchmarking
8.6.10.4 Strategic Initiatives

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