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The global astaxanthin market size attained a value of USD 1.50 billion in 2023. The market is likely to grow at a CAGR of 14.6% during the forecast period of 2024-2032, likely to reach a value of USD 5.12 billion by 2032.
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The nutraceutical market for encapsulated products has witnessed a surge due to the unique antioxidant properties of astaxanthin. It has been reported that astaxanthin offers several beneficial health effects and helps in the prevention and treatment of multiple diseases, including cancer, chronic inflammatory diseases, metabolic syndrome, diabetes, diabetic nephropathy, cardiovascular diseases, gastrointestinal diseases, liver diseases, neurodegenerative diseases, eye diseases, skin diseases, exercise-induced fatigue, male infertility, and renal failure. It is also said to boost immunity.
Astaxanthin, a xanthophyll carotenoid, is a dark-red, fat-soluble pigment that does not exhibit a pro-Vitamin A activity in human body (although it has been reported that astaxanthin carries more potent biological activity as compared to other carotenoids); it is the chief carotenoid found in algae and aquatic animals. Astaxanthin is found in several kinds of seafood, such as salmon, trout, red sea bream, shrimp and lobster; it is also found in birds like flamingo and quail. While synthetic astaxanthin is readily available in markets across the world, interest in natural sources of astaxanthin has grown significantly. Sources of natural astaxanthin include the green algae haematococcus pluvialis, the red yeast, Phaffia rhodozyma, and crustacean by-products. Haematococcus pluvialis, a green microalga gathers high astaxanthin matter under stress environments like high salinity, deficiency of nitrogen, high heat and light. Astaxanthin for human consumption is largely produced from H. pluvialis.
Astaxanthin’s antioxidant properties form the basis of reported health benefits. Astaxanthin has been associated with enhanced blood flow and reduced oxidative stress in smokers and obese individuals. According to some reports, comparative studies on astaxanthin and other carotenoids have revealed that astaxanthin exhibited the highest antioxidant activity against free radicals.
Astaxanthin has been reported to offer short- and long-term benefits for breast cancer treatment, including decreased growth of breast cancer cells.
Topical application of astaxanthin (in combination with oral dosage) is said to help in smoothing wrinkles, making age spots smaller, and maintaining skin moisture.
Some reports suggest that astaxanthin may help overcome fatigue after exercise and enhance endurance; it may also help prevent skeletal and muscle damage.
It has been suggested that astaxanthin may offer benefits related to heart health; it may prevent heart health and help decrease cholesterol levels.
Astaxanthin is also reported to show promise in treatment of conditions associated with joints, such as rheumatoid arthritis and carpal tunnel syndrome; astaxanthin may help decrease pain and inflammation in arthritis related symptoms.
Astaxanthin is increasingly being used as a nutritional supplement in foods, feeds, pharmaceuticals and nutraceuticals. These applications are expected to contribute to market growth. For commercial applications, astaxanthin products generally come in the form of soft gels, capsules, oils, syrups, creams, tablets, biomass and granulated powders.
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By product, the market is classified into:
By source, the market is segmented into:
By application, the market is divided into:
By region, the market is divided into:
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The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The astaxanthin market was valued at USD 1.50 billion in 2023.
The market is expected to grow at a CAGR of 14.6% from 2024 to 2032 to reach USD a value of USD 5.12 billion by 2032.
The major drivers of the market include the growing number of health-conscious individuals, growing preference for dietary supplements, rising adoption of novel technologies, government initiatives, and high consumer disposable income levels.
High demand for nutraceuticals and the use of astaxanthin in the prevention and treatment of multiple diseases, including cancer, chronic inflammatory diseases, and other diseases are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various products in the market are dried algae meal or biomass, oil, softgel, and liquid, among others.
The various sources of astaxanthin include natural and synthetic.
The significant applications include aquaculture and animal feed, nutraceuticals, cosmetics, and food, among others.
The major players in the industry are Algatech Ltd., Cyanotech Corporation, Fuji Chemical Industries Co., Ltd., CO2 GRO Inc., MicroA, E.I.D. – Parry (India) Limited, and Beijing Gingko Group, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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