Astaxanthin Market Size, Share & Trends Report

Astaxanthin Market Size, Share & Trends Analysis Report By Product (Oil, Softgel, Liquid), By Source (Natural, Synthetic), By Application (Aquaculture & Animal Feed, Nutraceuticals), By Region, And Segment Forecasts, 2024 - 2030

Report ID: GVR-1-68038-957-9
Number of Pages: 120
Format: Electronic (PDF)

Historical Range: 2018 - 2022
Industry: Healthcare

Market Segmentation

Source Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Metric Tonnes)
- Natural
  - Yeast
  - Krill/Shrimp
  - Microalgae
  - Others
- Synthetic
Product Outlook (Revenue, USD Million, 2018 - 2030)
- Dried algae meal or Biomass
- Oil
- Softgel
- Liquid
- Others
Application Outlook (Revenue, USD Million, 2018 - 2030)
- Nutraceuticals
- Cosmetics
- Aquaculture and animal Feed
- Food
  - Functional foods and beverages
  - Other traditional food manufacturing applications
- Others
Astaxanthin Market: Regional Outlook (Revenue, USD Million, 2018- 2030)
- North America
  - North America Astaxanthin Market, By Country 2018- 2030 (USD Million)
    - U.S.
    - Canada
  - North America Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
    - Natural
      - Yeast
      - Krill/Shrimp
      - Microalgae
      - Others
    - Synthetic
  - North America Astaxanthin Market, By Product, 2018- 2030 (USD Million)
    - Dried algae meal or Biomass
    - Oil
    - Softgel
    - Liquid
    - Others
  - North America Astaxanthin Market, By Application 2018- 2030 (USD Million)
    - Nutraceuticals
    - Cosmetics
    - Aquaculture and animal Feed
    - Food
      - Functional foods and beverages
      - Other traditional food manufacturing applications
    - Others
  - U.S.
    - U.S. Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - U.S. Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - U.S. Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Canada
    - Canada Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Canada Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Canada Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
- Europe
  - Europe Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
    - Natural
      - Yeast
      - Krill/Shrimp
      - Microalgae
      - Others
    - Synthetic
  - Europe Astaxanthin Market, By Product, 2018- 2030 (USD Million)
    - Dried algae meal or Biomass
    - Oil
    - Softgel
    - Liquid
    - Others
  - Europe Astaxanthin Market, By Application 2018- 2030 (USD Million)
    - Nutraceuticals
    - Cosmetics
    - Aquaculture and animal Feed
    - Food
      - Functional foods and beverages
      - Other traditional food manufacturing applications
    - Others
  - U.K.
    - U.K. Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - U.K. Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - U.K. Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Germany
    - Germany Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Germany Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Germany Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - France
    - France Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - France Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - France Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Italy
    - Italy Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Italy Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Italy Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Spain
    - Spain Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Spain Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Spain Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Russia
    - Russia Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Russia Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Russia Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Denmark
    - Denmark Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Denmark Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Denmark Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Norway
    - Norway Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Norway Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Norway Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Sweden
    - Sweden Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Sweden Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Sweden Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
- Asia Pacific
  - Asia Pacific Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
    - Natural
      - Yeast
      - Krill/Shrimp
      - Microalgae
      - Others
    - Synthetic
  - Asia Pacific Astaxanthin Market, By Product, 2018- 2030 (USD Million)
    - Dried algae meal or Biomass
    - Oil
    - Softgel
    - Liquid
    - Others
  - Asia Pacific Astaxanthin Market, By Application 2018- 2030 (USD Million)
    - Nutraceuticals
    - Cosmetics
    - Aquaculture and animal Feed
    - Food
      - Functional foods and beverages
      - Other traditional food manufacturing applications
    - Others
  - Japan
    - Japan Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Japan Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Japan Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - China
    - China Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - China Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - China Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - India
    - India Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Indiaa Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - India Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - South Korea
    - South Korea Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - South Korea Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - South Korea Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Australia
    - Australia Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Australia Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Australia Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Singapore
    - Singapore Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Singapore Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Singapore Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Thailand
    - Thailand Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Thailand Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Thailand Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
- Latin America
  - Latin America Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
    - Natural
      - Yeast
      - Krill/Shrimp
      - Microalgae
      - Others
    - Synthetic
  - Latin America Astaxanthin Market, By Product, 2018- 2030 (USD Million)
    - Dried algae meal or Biomass
    - Oil
    - Softgel
    - Liquid
    - Others
  - Latin America Astaxanthin Market, By Application 2018- 2030 (USD Million)
    - Nutraceuticals
    - Cosmetics
    - Aquaculture and animal Feed
    - Food
      - Functional foods and beverages
      - Other traditional food manufacturing applications
    - Others
  - Brazil
    - Brazil Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Brazil Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Brazil Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Mexico
    - Mexico Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Mexico Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Mexico Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Argentina
    - Argentina Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Argentina Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Argentina Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Ecuador
    - Ecuador Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Ecuador Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Ecuador Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
- Middle East & Africa
  - Middle East & Africa Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
    - Natural
      - Yeast
      - Krill/Shrimp
      - Microalgae
      - Others
    - Synthetic
  - Middle East & Africa Astaxanthin Market, By Product, 2018- 2030 (USD Million)
    - Dried algae meal or Biomass
    - Oil
    - Softgel
    - Liquid
    - Others
  - Middle East & Africa Astaxanthin Market, By Application 2018- 2030 (USD Million)
    - Nutraceuticals
    - Cosmetics
    - Aquaculture and animal Feed
    - Food
      - Functional foods and beverages
      - Other traditional food manufacturing applications
    - Others
  - South Africa
    - South Africa Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - South Africa Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - South Africa Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Saudi Arabia
    - Saudi Arabia Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Saudi Arabia Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Saudi Arabia Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - UAE
    - UAE Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - UAE Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - UAE Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Israel
    - Israel Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Israel Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Israel Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others
  - Kuwait
    - Kuwait Astaxanthin Market, By Source 2018- 2030 (USD Million) (Volume in Metric Tonnes)
      - Natural
        
        Yeast
        
        Krill/Shrimp
        
        Microalgae
        
        Others
      - Synthetic
    - Kuwait Astaxanthin Market, By Product, 2018- 2030 (USD Million)
      - Dried algae meal or Biomass
      - Oil
      - Softgel
      - Liquid
      - Others
    - Kuwait Astaxanthin Market, By Application 2018- 2030 (USD Million)
      - Nutraceuticals
      - Cosmetics
      - Aquaculture and animal Feed
      - Food
        
        Functional foods and beverages
        
        Other traditional food manufacturing applications
      - Others

Astaxanthin Market Dynamics

Drivers: Increasing Demand For Nutraceuticals And Natural Antioxidants

The rising awareness about nutrition for healthy lifestyle and the increasing preference for dietary supplements owing to high cost of hospitalization are factors projected to drive the demand for nutraceuticals & natural antioxidants. To compete with the increasing demand for nutraceutical products, the market players are significantly increasing their production capacities. Nutraceuticals provide the required dietary supplements with fewer adverse effects and are widely used to treat various conditions, such as cardiovascular diseases, diabetes, & cancer. Moreover, increasing awareness about nutrition-rich products among people is driving the nutraceutical industry at a significant pace. These factors are expected to drive the demand for astaxanthin-based nutritional products. The growing popularity of nutraceuticals led to increased research into the potential health benefits of astaxanthin. This resulted in understanding of how astaxanthin works and the potential health benefits it can provide. As more research is conducted, it is likely that the demand for astaxanthin will continue to increase. For instance, in January 2020, NextFerm Technologies filed a patent for yeast-derived astaxanthin, Astafern. The natural astaxanthin has a strong antioxidant property and is a best-in-class antioxidant product.

Drivers: Introduction Of Advanced Technologies

The Introduction of advanced technologies to increase the production of astaxanthin is expected to boost the market growth. For instance, ALGAMO produces astaxanthin using photobioreactors and micromodules to focus on reducing water wastage & saving electricity. Advanced extraction techniques such as supercritical CO2 extraction and enzymatic hydrolysis improved the efficiency and quality of astaxanthin extraction from natural sources, resulting in higher purity and potency of the final product. Cost-efficient technologies widely used for astaxanthin production are Flat Panel Airlift (FPA) reactors and Photo Bioreactor (PBR). In addition, other technologies used are closed microalgae, open pond, hybrid (a need-based combination of open pond system & flat panel photobioreactor), green technology production system energized by natural sunlight, and supercritical carbon dioxide extraction systems. Furthermore, adoption of new technologies, such as spray-drying equipment by Algalif, allows production of whole-algae biomass. This reflects the industry’s ability to invest in new technologies for meeting demand and quality standards of consumers.

Restraints: High Cost Of Production

Cost of production is one of the major factors hindering market growth. The cost of producing synthetic astaxanthin is approximately USD 1,000/kg and depends on the location of the production plant. It costs around USD 7,000 to obtain 1 kg of astaxanthin from Haematococcus pluvialis algae. According to the Biofuels from Algae study, the cost of production in developed countries, such as the U.S., is higher than in countries like China owing to high cost and low availability of labor. The cost of labor in the U.S. is up to USD 600/kg of astaxanthin, and in the case of China, it is USD 120/kg of astaxanthin. Another factor is high utility cost, which includes electricity, raw materials, & others, which take up to 33% of the total production cost. In the case of raw materials, it is difficult to reduce the cost required for fertilizers. Therefore, manufacturers are focusing on reducing electricity consumption. Moreover, the high cost associated with technologically advanced methods to produce better quality astaxanthin is likely to adversely affect market growth. Due to a lack of funding or investments, small- & medium-level market players are not able to switch to technologically advanced methods, such as closed cultivation systems for microalgae cultivation, to produce high-quality astaxanthin and eliminate the risk of foreign particles & microbial contamination.

What Does This Report Include?

This section will provide insights into the contents included in this astaxanthin market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Astaxanthin market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Astaxanthin market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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