Global Astaxanthin Market 2024-2028
The astaxanthin market is forecasted to grow by USD 484.12 mn during 2023-2028, accelerating at a CAGR of 9.82% during the forecast period. The report on the astaxanthin market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing health and wellness awareness, rising demand for natural ingredients, and rise of e-commerce and online shopping.
Technavio's astaxanthin market is segmented as below:
By Source
By Type
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the increasing natural and sustainable sourcing of astaxanthin as one of the prime reasons driving the astaxanthin market growth during the next few years. Also, rising advertising and marketing campaigns and use of astaxanthin in beauty and cosmetic products will lead to sizable demand in the market.
The report on the astaxanthin market covers the following areas:
- Astaxanthin market sizing
- Astaxanthin market forecast
- Astaxanthin market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading astaxanthin market vendors that include Algamo s.r.o., Algatech Ltd., AstaMAZ NZ Ltd., Atacama Bio Natural Products S.A., BASF SE, Beijing Gingko Group, Biogenic Co. Ltd., Cardax Inc., Cyanotech Corp., Divis Laboratories Ltd., EID Parry India Ltd., ENEOS Holdings Inc., FENCHEM, Fuji Chemical Industries Co. Ltd., Koninklijke DSM NV, NOW Health Group Inc., Otsuka Pharmaceutical Co. Ltd., Piveg Inc., Valensa International, and Zhejiang NHU Company Ltd.. Also, the astaxanthin market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.