Overview


According to FutureWise analysis the market for Astaxanthin in 2023 is US$ 2.23 billion, and is expected to reach US$ 8.06 billion by 2031 at a CAGR of 17.42%.

Astaxanthin is a carotenoid pigment which occurs naturally and is well-known for being a potent antioxidant. It is found in various aquatic organisms, including microalgae, salmon, trout, krill, shrimp, crayfish, and crustaceans. Due to its potential health benefits, astaxanthin is used in many industries such as food, feed, cosmetics, and pharmaceuticals. Astaxanthin is used as a natural food colorant and a preservative in the food industry. It is also used as a dietary supplement in nutraceuticals and functional foods. It has been discovered that astaxanthin possesses anti-inflammatory effects and may help reduce the risk of lifestyle diseases such as diabetes, obesity, and cardiovascular diseases.

Astaxanthin is used as a feed additive for farmed fish and shrimp in the feed industry. It helps improve the growth and health of these aquatic organisms and enhances their flesh's color. As the demand for seafood increases, the demand for astaxanthin as a feed additive is also expected to increase. Astaxanthin is used in various skin care products in the cosmetic industry due to its antioxidant properties. It helps protect the skin from oxidative damage caused by UV radiation and pollution. Astaxanthin has also been found to improve skin elasticity and minimizes the wrinkles and fine lines. In the pharmaceutical industry, astaxanthin is being studied for its potential therapeutic applications. It has been found to have anti-inflammatory, anti-cancer, and neuroprotective properties. Astaxanthin may also help improve cardiovascular health and reduce the risk of age-related macular degeneration.

FutureWise Market Research has published a report that provides an insightful analysis of Astaxanthin Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts projects that Astaxanthin Market will experience a significant growth.

According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.
  • Koninklijke DSM N.V.
  • BASF SE
  • Cyanotech Corporation
  • Otsuka Pharmaceutical Co., Ltd.
  • Valensa International
  • Fuji Chemical Industries Co., Ltd.
  • Divis Laboratories Ltd.
  • Beijing Ginko Group (BGG)
  • Igene Biotechnology Inc.
  • Piveg, Inc.
  • Fenchem Biotek Ltd.
  • Algatechnologies
  • Cardax, Inc.
  • Supreme Biotechnologies

(Note: The list of the major players will be updated with the latest market scenario and trends)

Recent developments by key players in Astaxanthin Market:

  • In March 2021, At Branchburg, New Jersey, Lycored increased its assortment of astaxanthin products by introducing an oleoresin produced from Haematococcus Pluvialis algae for soft gels and a cold water-dispersible microencapsulated solution for beverages and dry mixes.

The global astaxanthin market has been witnessing significant growth in the recent years and is anticipated to grow in the coming years. One of the major drivers of the astaxanthin market is the increasing demand for natural antioxidants in various industries such as food, feed, and cosmetics. Consumers have become increasingly aware of the negative consequences of synthetic antioxidants and are opting for natural alternatives. Astaxanthin is a powerful antioxidant that can protect cells from oxidative damage, which is one of the leading causes of various diseases. Moreover, the growing demand for dietary supplements and nutraceuticals is also fueling the growth of the astaxanthin market. With the increasing prevalence of lifestyle diseases such as diabetes, obesity, and cardiovascular diseases, consumers are turning to dietary supplements to improve their health and well-being. Astaxanthin is known to have anti-inflammatory properties and may help reduce the risk of these diseases. In addition, the rise in aquaculture activities is also driving the demand for astaxanthin. Aquaculture is the food industry's fastest-growing segment, and astaxanthin is used as a feed additive to improve the growth and health of farmed fish and shrimp. As the demand for seafood increases, the demand for astaxanthin is also expected to increase.

However, the high cost of production and extraction of astaxanthin is one of the major challenges faced by the market. Extracting astaxanthin from natural sources such as microalgae is expensive and time-consuming. This makes the final product expensive, which can be a deterrent for consumers. Moreover, the availability of synthetic astaxanthin is also a challenge for the market. Synthetic astaxanthin is cheaper to produce and can be used as a substitute for natural astaxanthin in various industries. This can affect the demand for natural astaxanthin and pose a challenge to the market's growth.

By Source

  • Natural Source
    • Plants
    • Yeast And Microbes
    • Marine
  • Petroleum (Synthetic)

By Application

  • Feed
  • Supplements
  • Food
  • Cosmetics

By Form

  • Dry Form
  • Liquid Form

By Method of Production

  • Microalgae Cultivation
  • Fermentation
  • Extraction
  • Chemical Synthesis

By Region

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

This market research report also emphasis on factors affecting the growth rate in various regions listed above. A deep-down analysis of region will also be provided in the final version of this market which is based on conclusion of primary interviews and secondary data point gathered during the process.

By region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America registered the highest share in the market in 2022. Due to its large aging population, highly proactive consumers who care deeply about their personal wellness, and quickly shifting market conditions, North America offers great opportunities for astaxanthin players. The U.S. and Canada are regarded as potential markets in the North American region for astaxanthin production because of their vast populations. Furthermore, high consumer discretionary income levels and growing consumer awareness of natural goods are expected to drive the market in this region. Several multinational astaxanthin firms have invested in expanding their regional presence and reach. Additionally, based on the method of production; the fermentation segment accounted for the highest market share in 2022.
  • Tier 1 players- established companies in the market with a major market share
  • Tier 2 players
  • Emerging players which are growing rapidly
  • New Entrants
  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth
  • To provide with an exhaustive analysis on the Astaxanthin Market By Source, By Application, By Form, By Method of Production and By Region.
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • To record and evaluate competitive landscape mapping- Source launches, technological advancements, mergers and expansions
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Table of Contents


  • 1.   Market Introduction
    •   1. Objectives of the Study
        2. Market Definition
        3. Market Scope
         3.1 . Years Considered for the Study
         3.2 . Market Covered
        4. Currency
        5. Limitations
        6. Stakeholders
  • 2.   Research Natureology
    •   1. Research Data
         1.1 . Secondary Data
          1.1.1 . Key Data from Secondary Sources
         1.2 . Primary Data
          1.2.1. Key Data from Primary Sources
        2. Market Size Estimation
        3. Market Breakdown and Data Triangulation
        4. Assumptions for the Study
  • 3.   Executive Summary
    •   1. Market Outlook
        2. Segment Outlook
        3. Competitive Insights
  • 4.  Astaxanthin Market Variables, Trends and Scope

    •   1. Market Lineage Outlook
        2. Penetration and Growth Prospect Mapping
        3. Industry Value Chain Analysis
        4. Cost Analysis Breakdown
        5. Technology Overview
        6. Regulatory Framework
         6.1. Reimbursement Framework
         6.2. Standards and Compliances

  • 5.   Market Overview

    •   1. Market Dynamics
         1.1. Market Driver Analysis
          1.1.1. Increasing focus of Astaxanthin Companies on Brand Protection
          1.1.2. Untapped Opportunities in Emerging Regions
         1.2. Market Restraint Analysis
          1.2.1. High Cost Associated with Implementation of Predictive Analysis
         1.3. Industry Challenges
          1.3.1. Presence of Ambiguous Regulatory Framework

  • 6.  Astaxanthin Market Analysis Tools

    •   1. Industry Analysis - Porter’s
         1.1. Supplier Power
         1.2. Buyer Power
         1.3. Substitution Threat
         1.4. Threat from New Entrants
         1.5. Competitive Rivalry
        2. Pestel Analysis
         2.1. Political Landscape
         2.2. Environmental Landscape
         2.3. Social Landscape
         2.4. Technology Landscape
         2.5. Legal Landscape
        3. Major Deals And Strategic Alliances Analysis
         3.1. Joint Ventures
         3.2. Mergers and Acquisitions
         3.3. Licensing and Partnership
         3.4. Technology Collaborations
         3.5. Strategic Divestments
        4. Market Entry Strategies
        5. Case Studies

  • 7.  Astaxanthin Market, By Source Historical Analysis and Forecast 2023-2031 (USD Million)

    •  1. Natural Source
        1.1. Plants
        1.2. Yeast & Microbes
        1.3. Marine
       2. Petroleum (Synthetic)

  • 8.  Astaxanthin Market, By Application Historical Analysis and Forecast 2023-2031 (USD Million)

    •   1. Feed
        2. Supplements
        3. Food
        4. Cosmetics

  • 9.  Astaxanthin Market, By Form Historical Analysis and Forecast 2023-2031 (USD Million)

    •   1. Dry Form
        2. Liquid Form

  • 10.  Astaxanthin Market, By Method of Production Historical Analysis and Forecast 2023-2031 (USD Million)

    •   1. Microalgae Cultivation
        2. Fermentation
        3. Extraction
        4. Chemical Synthesis

  • 11.   North America Astaxanthin Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. U.S.A
         2.2. Canada
         2.3. Mexico
        3. Market Size (USD Million) Forecast for North America 2023-2031

  • 12.   Latin America Astaxanthin Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Brazil
         2.2. Venezuela
         2.3. Argentina
         2.4. Rest of Latin America
        3. Market Size (USD Million) Forecast for Latin America 2023-2031

  • 13.   Europe Astaxanthin Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Germany
         2.2. U.K
         2.3. France
         2.4. Italy
         2.5. Spain
         2.6. Russia
         2.7. Poland
         2.8. Rest of Europe
        3. Market Size (USD Million) Forecast for Europe 2023-2031

  • 14.   Asia Pacific Astaxanthin Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Japan
         2.2. China
         2.3. India
         2.4. Australia and New Zealand
         2.5. ASEAN
         2.6. Rest of Asia Pacific
        3. Market Size (USD Million) Forecast for Asia Pacific 2023-2031

  • 15.   Middle East and Africa Astaxanthin Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. GCC
         2.2. Israel
         2.3. South Africa
         2.4. Rest of MEA
        3. Market Size (USD Million) Forecast for MEA 2023-2031

  • 16.   Market Share Analysis and Competitive Landscape
    •   1. Global Landscape - Key Players, Revenue and Presence
        2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
        3. Global Emerging Companies
        4. North America - Market Share Analysis and Key Regional Players
        5. Europe - Market Share Analysis and Key Regional Players
        6. Asia Pacific - Market Share Analysis and Key Regional Players
        7. Global Key Player - Growth Matrix
  • 17.   Company Profiles (Competition Dashboard, Competitors Deep Dive, Products Offered and Financial Layouts)

    •   1. Koninklijke DSM N.V.
         1.1. Company Overview
         1.2. Product Portfolio
         1.3. SWOT Analysis
         1.4. Financial Overview
         1.5. Strategic Overview
        2. BASF SE
         2.1. Company Overview
         2.2. Product Portfolio
         2.3. SWOT Analysis
         2.4. Financial Overview
         2.5. Strategic Overview
        3. Cyanotech Corporation
         3.1. Company Overview
         3.2. Product Portfolio
         3.3. SWOT Analysis
         3.4. Financial Overview
         3.5. Strategic Overview
        4. Otsuka Pharmaceutical Co., Ltd.
         4.1. Company Overview
         4.2. Product Portfolio
         4.3. SWOT Analysis
         4.4. Financial Overview
         4.5. Strategic Overview
        5. Valensa International
         5.1. Company Overview
         5.2. Product Portfolio
         5.3. SWOT Analysis
         5.4. Financial Overview
         5.5. Strategic Overview
        6. Fuji Chemical Industries Co., Ltd.
         6.1. Company Overview
         6.2. Product Portfolio
         6.3. SWOT Analysis
         6.4. Financial Overview
         6.5. Strategic Overview
        7. Divis Laboratories Ltd.
         7.1. Company Overview
         7.2. Product Portfolio
         7.3. SWOT Analysis
         7.4. Financial Overview
         7.5. Strategic Overview
        8. Beijing Ginko Group (BGG)
         8.1. Company Overview
         8.2. Product Portfolio
         8.3. SWOT Analysis
         8.4. Financial Overview
         8.5. Strategic Overview
        9. Igene Biotechnology Inc.
         9.1. Company Overview
         9.2. Product Portfolio
         9.3. SWOT Analysis
         9.4. Financial Overview
         9.5. Strategic Overview
        10. Piveg, Inc.
         10.1. Company Overview
         10.2. Product Portfolio
         10.3. SWOT Analysis
         10.4. Financial Overview
         10.5. Strategic Overview
        11. Fenchem Biotek Ltd.
         11.1. Company Overview
         11.2. Product Portfolio
         11.3. SWOT Analysis
         11.4. Financial Overview
         11.5. Strategic Overview
        12. Algatechnologies
         12.1. Company Overview
         12.2. Product Portfolio
         12.3. SWOT Analysis
         12.4. Financial Overview
         12.5. Strategic Overview
        13. Cardax, Inc.
         13.1. Company Overview
         13.2. Product Portfolio
         13.3. SWOT Analysis
         13.4. Financial Overview
         13.5. Strategic Overview
        14. Supreme Biotechnologies
         14.1. Company Overview
         14.2. Product Portfolio
         14.3. SWOT Analysis
         14.4. Financial Overview
         14.5. Strategic Overview

  • 18.   Pre and Post COVID-19 Impact

    •   1. Positive influence on the healthcare industry
        2. The financial disruption of the manufacturing sector
        3. Impact of COVID-19 on emerging companies
        4. Significant mandates in the healthcare regulations initiated by
                  administrations
        5. The overall economic slowdown of the developing and developed nations

  • 19.   FutureWise SME Key Takeaway Points for Client

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