Global Astaxanthin Market Growth 2023-2029

Global Astaxanthin Market Growth 2023-2029

Astaxanthin is a naturally occurring dark red carotenoid found in nature primarily in aquatic animals such as salmon, trout, krill, shrimp, crayfish, and crustaceans. Astaxanthin is more than just a red pigment, it is one of the most powerful lipophilic antioxidants yet discovered. It has the unique capacity to quench free radicals and reactive species of oxygen and to inhibit lipid peroxidation. Studies have shown natural astaxanthin to be over 500 times stronger than vitamin E and much more potent than other carotenoids such as lutein, lycopene and β-carotene. Moreover, Astaxanthin a xanthophyll carotenoid, is a nutrient with a unique molecule structure, it does not convert to vitamin a (retinol) and has no “pro-oxidant” activity.

LPI (LP Information)' newest research report, the “Astaxanthin Industry Forecast” looks at past sales and reviews total world Astaxanthin sales in 2022, providing a comprehensive analysis by region and market sector of projected Astaxanthin sales for 2023 through 2029. With Astaxanthin sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Astaxanthin industry.

This Insight Report provides a comprehensive analysis of the global Astaxanthin landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Astaxanthin portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Astaxanthin market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Astaxanthin and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Astaxanthin.

The global Astaxanthin market size is projected to grow from US$ 118.6 million in 2022 to US$ 201.1 million in 2029; it is expected to grow at a CAGR of 201.1 from 2023 to 2029.

The major players in global astaxanthin market include DSM, BASF, Zhejiang NHU, etc. The top 5 players occupy about 65% shares of the global market. Asia-Pacific is main market, which occupies about 40% of the global market. Synthetic astaxanthin is the main type, with a share about 36%. Feed is the main application, which holds a share about 45%.

This report presents a comprehensive overview, market shares, and growth opportunities of Astaxanthin market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
2% Astaxanthin Powder
3% Astaxanthin Powder
5% Astaxanthin Powder
10% Astaxanthin Powder
20% Astaxanthin Powder
5% Astaxanthin Oleoresin
10% Astaxanthin Oleoresin
Other Natural Astaxanthin
Synthetic Astaxanthin

Segmentation by application
Feed
Nutraceuticals
Cosmetics
Food & Beverages
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
DSM
Cyanotech Corporation
Fuji Chemical Industries Co., Ltd.
BASF
Divi's Laboratories Limited
BGG
Zhejiang NHU Company Ltd.
Yunnan Alphy Biotech Co., Ltd.
ENEOS Corporation
Jingzhou Natural Astaxanthin, Inc.
Parry Nutraceuticals
AlgaTechnologies Ltd.
Biogenic Co., Ltd.
Nextperm Technologies Ltd.

Key Questions Addressed in this Report

What is the 10-year outlook for the global Astaxanthin market?

What factors are driving Astaxanthin market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Astaxanthin market opportunities vary by end market size?

How does Astaxanthin break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.