Navigating Growth: Astaxanthin Market Report and Size Predictions

The global astaxanthin market size was valued at USD 1,371.24 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.8% from 2021 to 2028.

The research report with top-level information is a key benefit that provides qualitative and quantitative factors of the Astaxanthin Market. In this research survey, the features that have powered and reserved the market’s growth is also included in this market report. The research outline also contains the primary industry’s pattern and the international market’s projected volume based on the provincial estimation. Moreover, it also, gives details of a portion of the complete industry, new turns of events, and the effect of domestic and constrained market players, examinations openings as far as arising income pockets, changes in market strategies, product confirmations, key choices, product dispatches, landscape extensions, and mechanical developments and possessions in the market.

Astaxanthin Market, By Product (Oil, Softgel, Liquid), By Source (Natural, Synthetic), By Application (Aquaculture & Animal Feed, Nutraceuticals), By Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Astaxanthin Market Overview

The global astaxanthin market size was valued at USD 1,371.24 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.8% from 2021 to 2028.

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Astaxanthin is a powerful antioxidant with health benefits and is considered to be 550 times stronger than antioxidants, such as vitamin E. Nutraceuticals provide the required dietary supplements with fewer adverse effects and are widely used in the prevention of diseases, such as cardiovascular diseases (CVDs), diabetes, and cancer.

High demand for nutraceuticals due to their antioxidant properties and increased demand in the aquaculture & animal feed industry are some of the factors that have supported long-term expansion for Astaxanthin Market.

Astaxanthin Market Regional Analysis

North America held a market share of over 36% in 2020 and is expected to maintain its dominance over the forecast period. This dominance can be attributed to the existence of an established nutraceutical industry, growing awareness about the use of astaxanthin, and the presence of a health-conscious population.

Astaxanthin Market Competitive Landscape

Key Players

AlgatechLtd.

CyanotechCorp.

AstaReal Group, CO2 GRO Inc.

Beijing Gingko Group

E.I.D. – Parry (India) Limited

ENEOS Corporation

FENCHEM

MicroA

NextFerm

Algalif Iceland ehf

Recent Developments in Astaxanthin Market

  • October 2020, Cyanotech Corp. launched BioAstin Hawaiian Astaxanthin, a novel delivery platform of a water-dispersible powder.
  • May 2018, Algalíf Iceland ehf expanded its presence in the Asia Pacific market with Astalífastaxanthin oleoresins and launched IceCaps soft gelatin capsules & Icelandic Harvest.

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Reasons to Acquire Astaxanthin Market Report

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Astaxanthin Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Table of Contents

Astaxanthin Market is segmented into source, product, application and region.

On the basis of Source

Natural

Synthetic

On the basis of Product 

Dried algae meal or biomass

Oil

Softgel

Liquid

Others

On the basis of Application 

Nutraceuticals

Cosmetics

Aquaculture and animal feed

Food

Others

On the basis of Region

Asia Pacific

North America

Europe

South America

Middle East & Africa

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