GVR Report cover 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

Astaxanthin Market Size & Trends

The global astaxanthin market size was valued at USD 2.34 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. Growing demand for astaxanthin is being fueled by its increasing use in various industries, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages, among others. It is widely used as a food ingredient for prawns and fishes such as salmon, trout, & ornamental fishes to enhance their coloration and increase commercial value. Other benefits for aquatic animals include growth in stress tolerance, performance, immune-related gene expressions, reproductive capacity, improvement in survival, and disease resistance. Major players are focusing on new product developments and collaborative agreements to meet the increasing demand for astaxanthin in aquaculture.

U.S. personal protective equipment (PPE) market size and growth rate, 2024 - 2030

Additionally, presence of organizations that actively promote awareness regarding diverse applications of these products is expected to further drive market growth. For instance, the Natural Algae Astaxanthin Association (NAXA) plays a key role in promoting, protecting, and educating about the benefits of natural astaxanthin in various end-use applications.The association supports research related to natural astaxanthin and certifies products with NAXA Verification Seal.

Companies are adopting strategies such as new product launches and partnerships with strong players in end-use industries to increase the penetration of natural astaxanthin-based products. For instance, in May 2022, Algalif and Divi’s Nutraceuticals partnered to launch high-concentration astaxanthin beadlets, AstaBeads. This partnership is expected to increase the penetration of these products in sports nutrition & healthy aging applications. Moreover, in October 2020, The Lubrizol Corporation launched ASTAGILE microcapsules to support healthy aging and mental agility in young & senior adults.

In addition, in May, 2022, Algalif and Divi’s Nutraceuticals collaborated to create highly concentrated beadlets of sustainable natural astaxanthin. Algalif, situated in Iceland, employs a production process powered by renewable energy, yielding premium astaxanthin oleoresin from microalgae. Divi’s, leveraging its proficiency in formulating fat-soluble ingredients, then converts this oleoresin into the exclusive AstaBead beadlets, boasting a remarkable 5% astaxanthin content. This innovative approach harnesses the advantages of natural source while ensuring sustainability and high concentration, demonstrating a commitment to both environmental responsibility and product excellence.

New Dietary Ingredient (NDI) Guidance issued new guidelines and increasing the daily dose of from 7.8 mg to 12 mg, which led to the development of new products by manufacturers. For instance, BCG received approval for two natural products in Europe with daily dose of more than 7.8 mg.The presence of stringent regulatory guidelines by the Food Safety and Standards Authority of India (FSSAI) in India, which focuses on the safety of ingredients used in supplements, has attracted consumers toward dietary supplements. Increase in investments by foreign and private investors is expected to contribute to market growth.

Government initiatives will further offer lucrative opportunities during the review period. For instance, In September 2023, the EU Commission approved an extension to the regulation of novel food astaxanthin-rich oleoresin, now allowing its use in younger age groups. This decision follows a submission to the Commission, requesting the expansion of use to two specific age categories. The approval is based on safe dosages determined from the acceptable daily intake (ADI) of Astaxanthin. This revision aligns more accurately with the EFSA opinion on algae-based Astaxanthin, confirming the safety of the indicated dosages for each respective age group within the population.

Market Concentration & Characteristics

The astaxanthin market showcases a high degree of innovation, with companies developing novel formulations and sustainable production methods. For example Sirio Europe (SIRIO) revealed in August, 2023, its plan to introduce two new softgel products targeting the pharmaceutical sector during the CPHI Barcelona 2023 event.

The astaxanthin market is also characterized by a high level of merger and acquisition (M&A) activity by the leading players In January 2022, ENEOS Corporation disclosed its acquisition of Ecocert Inputs Attestation, a globally recognized certification organization. This strategic move strengthens ENEOS' position in the astaxanthin market, particularly for Panaferd-AX. The merger reflects the company's commitment to quality and international standards, contributing to the evolution of the industry.

Horizontal Directional Drilling Market Concentration & Characteristics

The astaxanthin market is also subject to regulatory scrutiny. Under DSHEA, dietary supplements such as astaxanthin are considered to be food products rather than drugs and therefore do not require premarket approval by FDA. However, supplement manufacturers are still required to ensure that their products are safe and accurately labeled. The FDA has the authority to take enforcement action against any supplement product that is found to be unsafe or misbranded.

The market is witnessing innovation as dietary lutein emerges as a potential substitute. Companies are exploring the incorporation of lutein-rich sources into formulations, tapping into its antioxidant properties. This shift underscores a trend towards diversification and the exploration of alternative natural compounds within the dynamic astaxanthin market.
End-user concentration in the astaxanthin market is evident in the rising demand from sectors like nutraceuticals, cosmetics, and aquaculture. For instance, cosmetic companies are increasingly incorporating astaxanthin for its skin health benefits, showcasing a targeted approach by end-users to leverage the unique properties of this potent antioxidant for specific applications

Market Dynamics

Growing awareness about nutrition for healthy lifestyle and rising preference for dietary supplements due to high cost of hospitalization are factors anticipated to drive demand for nutraceuticals & natural antioxidants. To compete with the increasing demand for nutraceutical products, market players are significantly increasing their production capacity. For instance, in April 2022, Beijing Gingko Group announced a second-time expansion of its pristine region’s astaxanthin farm capacity in last 2 years, which would maximize its production capacity. Algatech Ltd. also increased its production capacity threefold for FucoVital, a product derived from brown algae, to fulfill increasing demand for dietary supplements market.

Moreover, increasing concerns about adverse effects of chemicals and growing use of synthetic additives in edible products and topical applications are few factors responsible for growing adoption of natural alternatives. Thus, companies are adopting strategies such as new product launches and partnerships with strong players in industries to increase penetration of natural astaxanthin-based products. For instance, in May 2022, Algalif and Divi’s Nutraceuticals partnered to launch high concentration astaxanthin beadlets, AstaBeads. This partnership is expected to increase penetration of these products in sports nutrition & healthy aging applications. The aforementioned factors are fueling market growth.

Furthermore, introduction of advanced technologies to increase the production of astaxanthin is expected to boost market growth. For instance, ALGAMO produces astaxanthin using photobioreactors and micromodules, to focus on reducing water wastage & saving electricity. In addition, novel cost-effective technologies are being utilized for production in several industries. For instance, Photo Bioreactor (PBR) and Flat Panel Airlift (FPA) reactors are majorly used cost-effective technologies for production. These capabilities are driving the market growth.

Source Insights

The natural segment held largest revenue share of 56.40% of astaxanthin industry in 2023 and is anticipated to grow at a rapid rate during the forecast period owing to advantages such as high efficacy and sustainability. Currently, it is used to treat hypercholesterolemia, stroke, Parkinson’s disease, Alzheimer’s disease, and cancer. Moreover, natural astaxanthin has very good effects on skin and eye, as many studies reported use of these products in treatment of ophthalmic diseases like cataract, uveitis, & glaucoma and skin photo-aging treatments, as it has 10 times higher free radical inhibitory action than other antioxidants. Moreover, ongoing research activities to enhance the quality and usage of yeast-derived astaxanthin are expected to boost segment growth. For instance, in February 2023, according to research by China Medical University Hospital, National Chung Hsing University, and National Taiwan Ocean University, genetically modified yeast could be a promising source of astaxanthin for shrimp feeds.

The synthetic segment is estimated to grow with significant CAGR in the astaxanthin industry during the projected timeframe. Increasing demand in aquaculture & animal feed industry and accessibility of approved and safe products such as Cardax, Inc’s ZanthoSyn as an anti-inflammatory is boosting the segment. Key market players involved in the production of synthetic astaxanthin are undertaking initiatives to enhance their market presence across the globe. For instance, in August 2021, DSM collaborated with Foss Analytical to develop a rapid and reliable test to measure astaxanthin level in salmon feed. Moreover, Cardax, Inc. is exploring the potential usage of astaxanthin in COVID-19 patients.

Product Insights

Dried algae meal or biomass accounted highest share of 25.26% of the market in 2023. Major share is attributed to the applications in biomass production of other formulations such as capsules or tablets, minimal downstream processing, convenient bulk production and higher use as animal feed are some key factors driving segment’s growth. Moreover, new product launches, such as AstaPure Arava gummies by Solabia-Algatech Nutrition Ltd, in October 2022, also demonstrated increasing demand for algal astaxanthin . Similarly, in May 2022, Algalif has entered into a partnership with the start-up company Marea, with the aim of creating a biodegradable coating for products using residual algae biomass. These new developments are expected to drive segment growth during study period.

Softgel segment is anticipated to grow at a lucrative rate during the projected years. Softgels are widely accepted among consumers owing to their convenience factor and can be used in geriatric population. Veggie softgels, produced from modified cornstarch and glycerin, are preferred by nutraceutical providers due to their herbal origin & minimum adverse effects. Furthermore, ongoing regulatory approvals of softgel products are augmenting segment expansion. For instance, in September 2021, NextFerm Technologies announced a regulatory marketing approval for Astaferm—an innovative antioxidant in form of oil for softgels—in the U.S.

Application Insights

Aquaculture & animal feed segment is accounted the high share of 46.39% of market in 2023. Owing to its extensive use as a feed additive. Natural astaxanthin is used as feed to induce reddish pigmentation in salmon, trout, and shrimp, which is an important factor that drives consumer preference. Astaxanthin oil can also increase feed uptake, which results in faster growth of shrimp. Thus, increasing adoption of these products in aquaculture industry for improving quality of seafood is contributing to segment’s significant share in the market. In addition, key players in market are introducing novel products for animal feed having medical benefits. For instance, in July 2022, AstaReal introduced Novasta, an astaxanthin ingredient designed for use in animal feed. This product launch expands the potential for health-enhancing applications in the field of animal nutrition.

Global Astaxanthin market share and size, 2023

Nutraceuticals segment is likely to grow at fastest CAGR during the forecast period. Owing to the increasing demand for natural astaxanthin in nutritional products, coupled with the superior antioxidant properties compared to other available dietary supplements. In addition, insufficient intake of essential nutrients, unhealthy lifestyle rapidly aging population, and are impelling the demand for nutraceuticals. Due to astaxanthin’s antioxidant properties, it is beneficial against several diseases, such as liver & oral cancers, cardiovascular diseases, and obesity. Thus, increasing incidence of chronic and infectious diseases is expected to offer lucrative opportunities for market in coming years.

Regional Insights

North America is most developed astaxanthin market and held largest share of 36.53% in 2023. The rising prevalence of nutrition and skin-related diseases in the region is a significant factor driving the demand. Additionally, presence of key manufacturers like Cyanotech, Piveg, Inc., and Beijing Ginko Group (BGG), along with synthetic producers such as Cardax, Inc., in North America, is expected to fuel market during the forecast period. Moreover, market growth in North America is further accelerated by a large number of health-conscious consumers, increased adoption of nutraceuticals, and a well-established cosmeceutical industry. These factors collectively contribute to the increasing demand for market in the region.

Astaxanthin Market Trends, by Region, 2024 - 2030

Asia Pacific is estimated to exhibit fastest growth rate during the forecast period. Increasing production in the region, growing R&D expenditure, and economic growth are some key factors increasing demand for these products in Asia Pacific. 

In addition, India's nutraceutical company, BodyFirst Wellness Nutrition, launched its products nationwide and internationally after a successful market test drive. With nine months of online and retail sales and a solid presence in North India through 15 distributors, the official launch aims for broader market reach. The expansion includes collaboration with 100 more Indian distributors and online availability for global consumers, emphasizing the growing prominence of traditional, natural ingredients like ashwagandha and astaxanthin in the Indian market.

Key Companies & Market Share Insights

Some of the key players operating in market include Algatech Ltd; Cyanotech Corporation, and ALGAMO. Key players in the market are contributing toward their growth by geographical expansion to gain higher market share. In addition, companies are focusing on gaining market approvals for innovative products to help in management of different health conditions.

Collaborations with research institutes and academic organizations to provide the products & services and engage in new contracts is the major strategy adopted by emerging market players. Additionally, these players may be more flexible and agile than established players in terms of responding and changing to market needs and demand, allowing them to quickly adapt and develop new technologies.

Key Astaxanthin Companies:

  • Algatech Ltd
  • MicroA
  • Cyanotech Corporation
  • Algalíf Iceland ehf
  • Beijing Gingko Group (BGG)
  • PIVEG, Inc.
  • Fuji Chemical Industries Co., Ltd
  • ENEOS Corporation
  • Atacama Bio Natural Products S.A.
  • E.I.D. – Parry (India) Limited (Alimtec S.A., Valensa International)

Recent Developments

  • In October 2023, Algatech Ltd, received National Organic Program (NOP) Certification for the company’s algae-derived astaxanthin.

  • In March 2023, AstaReal partnered with raw material distributor C.F.M. Co. Farmaceutica Milanese to offer comprehensive technical, regulatory, scientific, and logistical support to nutraceutical producers in Italy. This collaboration aims to address the increasing market demand for natural astaxanthin, a proven antioxidant with health benefits, positioning AstaReal as the premier natural astaxanthin brand in Italy. Obtained from regrown microalgae Haematococcus pluvialis, AstaReal's astaxanthin is highlighted for its environmentally sustainable sourcing.

  • In May 2022, Iceland's Algalif signed an agreement with a start-up company, Marea, to develop a biodegradable good coating from leftover algal biomass.

  • In October 2022, Solabia-Algatech launched Astaxanthin Gummies with vitamin C, which contain no preservatives or synthetic colors. Each gummy has 4mg astaxanthin algae complex.

  • In April 2022, BGG announced second expansion of pristine region’s astaxanthin farm capacity in last 2 years and expected to maximize its production capacity. Such initiatives are contributing to the market growth.

Astaxanthin Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 2.83 billion

Revenue forecast in 2030

USD 7.28 billion

Growth rate

CAGR of 17.1% from 2024 to 2030

Actual data

2018 - 2023

Forecast period

2024- 2030

Quantitative units

Revenue in USD billion/million and CAGR from 2024 to 2030

Report Coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments Covered

Source, product, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; UK; Germany; France; Italy; Spain; Russia; Norway; Demark; Sweden; India; China; Japan; Australia; South Korea; Singapore; Thailand; Brazil; Mexico; Argentina; Ecuador; Saudi Arabia; UAE; South Africa; Israel; Kuwait

Key companies profiled

Algatech Ltd, Cyanotech Corporation, MicroA, Beijing Gingko Group (BGG), Algalíf Iceland ehf, Fuji Chemical Industries Co., Ltd, PIVEG, Inc., Atacama Bio Natural Products S.A, ENEOS Corporation, E.I.D. – Parry (India) Limited (Alimtec S.A., Valensa International)

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

 

Global Astaxanthin Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the global astaxanthin market on the basis of source, product, application, and regions.

Global Astaxanthin Market Report Segmentation

  • Source Outlook (Revenue, USD Million, 2018 - 2030) (Volumein 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

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Russia

      • Denmark

      • Norway

      • Sweden

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

      • Singapore

      • Thailand

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Ecuador

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Israel

      • Kuwait

Frequently Asked Questions About This Report

Table of Contents

Chapter 1. Astaxanthin Market: Methodology and Scope
                   1.1. Market Segmentation & Scope
                   1.2. Segment Definitions
                       1.2.1. Source
                       1.2.2. End-use
                       1.2.3. Regional scope
                       1.2.4. Estimates and forecasts timeline
                   1.3. Research Methodology
                   1.4. Information Procurement
                       1.4.1. Purchased database
                       1.4.2. GVR’s internal database
                       1.4.3. Secondary sources
                       1.4.4. Primary research
                       1.4.5. Details of primary research
                           1.4.5.1. Data for primary interviews in North America
                           1.4.5.2. Data for primary interviews in Europe
                           1.4.5.3. Data for primary interviews in Asia Pacific
                           1.4.5.4. Data for primary interviews in Latin America
                           1.4.5.5. Data for Primary interviews in MEA
                   1.5. Information or Data Analysis
                       1.5.1. Data analysis models
                   1.6. Market Formulation & Validation
                   1.7. Model Details
                       1.7.1. Commodity flow analysis (Model 1)
                       1.7.2. Approach 1: Commodity flow approach
                       1.7.3. Volume price analysis (Model 2)
                       1.7.4. Approach 2: Volume price analysis
                   1.8. List of Secondary Sources
                   1.9. List of Primary Sources
                   1.10. Objectives
Chapter 2. Astaxanthin Market: Executive Summary
                   2.1. Market Outlook
                   2.2. Segment Outlook
                       2.2.1. Source outlook
                       2.2.2. Product outlook
                       2.2.3. Application
                       2.2.4. Regional outlook
                   2.3. Competitive Insights
Chapter 3. Astaxanthin Market: Variables, Trends & Scope
                   3.1. Market Lineage Outlook
                       3.1.1. Parent market outlook
                       3.1.2. Related/ancillary market outlook
                   3.2. Market Dynamics
                       3.2.1. Market driver analysis
                           3.2.1.1. Increasing demand for nutraceuticals and natural antioxidants
                           3.2.1.2. Introduction of advanced technologies
                           3.2.1.3. Increase in adoption of natural cosmetics, nutraceuticals and pharmaceuticals
                           3.2.1.4. Increased use in aquaculture and coloring of fish
                       3.2.2. Market restraint analysis
                           3.2.2.1. High cost of production
                           3.2.2.2. Excess space requirement
                   3.3. Astaxanthin Market Analysis Tools
                       3.3.1. Industry Analysis - Porter’s
                           3.3.1.1. Supplier power
                           3.3.1.2. Buyer power
                           3.3.1.3. Substitution threat
                           3.3.1.4. Threat of new entrant
                           3.3.1.5. Competitive rivalry
                       3.3.2. PESTEL Analysis
                           3.3.2.1. Political landscape
                           3.3.2.2. Technological landscape
                           3.3.2.3. Economic landscape
                   3.4. Pricing Analysis
                       3.4.1. Price by Source, in USD/kg, 2018 - 2030 for the below mentioned countries,
                           3.4.1.1. North America
                               3.4.1.1.1. U.S.
                               3.4.1.1.2. Canada
                           3.4.1.2. Europe
                               3.4.1.2.1. U.K.
                               3.4.1.2.2. Germany
                               3.4.1.2.3. France
                               3.4.1.2.4. Italy
                               3.4.1.2.5. Spain
                               3.4.1.2.6. Russia
                               3.4.1.2.7. Denmark
                               3.4.1.2.8. Norway
                               3.4.1.2.9. Sweden
                           3.4.1.3. Asia Pacific
                               3.4.1.3.1. Japan
                               3.4.1.3.2. China
                               3.4.1.3.3. India
                               3.4.1.3.4. South Korea
                               3.4.1.3.5. Australia
                               3.4.1.3.6. Singapore
                               3.4.1.3.7. Thailand
                           3.4.1.4. Latin America
                               3.4.1.4.1. Brazil
                               3.4.1.4.2. Mexico
                               3.4.1.4.3. Argentina
                               3.4.1.4.4. Ecuador
                           3.4.1.5. Middle East & Africa
                               3.4.1.5.1. South Africa
                               3.4.1.5.2. Saudi Arabia
                               3.4.1.5.3. UAE
                               3.4.1.5.4. Israel
                               3.4.1.5.5. Kuwait
                       3.4.2. Price by Product, in USD/kg, 2018 - 2030 for the below mentioned countries,
                           3.4.2.1. North America
                               3.4.2.1.1. U.S.
                               3.4.2.1.2. Canada
                           3.4.2.2. Europe
                               3.4.2.2.1. U.K.
                               3.4.2.2.2. Germany
                               3.4.2.2.3. France
                               3.4.2.2.4. Italy
                               3.4.2.2.5. Spain
                               3.4.2.2.6. Russia
                               3.4.2.2.7. Denmark
                               3.4.2.2.8. Norway
                               3.4.2.2.9. Sweden
                           3.4.2.3. Asia Pacific
                               3.4.2.3.1. Japan
                               3.4.2.3.2. China
                               3.4.2.3.3. India
                               3.4.2.3.4. South Korea
                               3.4.2.3.5. Australia
                               3.4.2.3.6. Singapore
                               3.4.2.3.7. Thailand
                           3.4.2.4. Latin America
                               3.4.2.4.1. Brazil
                               3.4.2.4.2. Mexico
                               3.4.2.4.3. Argentina
                               3.4.2.4.4. Ecuador
                           3.4.2.5. Middle East & Africa
                               3.4.2.5.1. South Africa
                               3.4.2.5.2. Saudi Arabia
                               3.4.2.5.3. UAE
                               3.4.2.5.4. Israel
                               3.4.2.5.5. Kuwait
Chapter 4. Astaxanthin Market: Source Estimates & Trend Analysis
                   4.1. Source Market Share, 2023 & 2030
                   4.2. Segment Dashboard
                   4.3. Global Astaxanthin Market by Source Outlook
                   4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                       4.4.1. Natural
                           4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                           4.4.1.2. Yeast
                               4.4.1.2.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                           4.4.1.3. Krill/Shrimp
                               4.4.1.3.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                           4.4.1.4. Microalgae
                               4.4.1.4.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                           4.4.1.5. Others
                               4.4.1.5.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                       4.4.2. Synthetic
                           4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
Chapter 5. Astaxanthin Market: Product Estimates & Trend Analysis
                   5.1. Product Market Share, 2023 & 2030
                   5.2. Segment Dashboard
                   5.3. Global Astaxanthin Market by Product Outlook
                   5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                       5.4.1. Dried algae meal or Biomass
                           5.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                       5.4.2. Oil
                           5.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                       5.4.3. Softgel
                           5.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                       5.4.4. Liquid
                           5.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
                       5.4.5. Others
                           5.4.5.1. Market estimates and forecasts 2018 to 2030 (USD Million) (Volume in Metric Tonnes)
Chapter 6. Astaxanthin Market: Application Estimates & Trend Analysis
                   6.1. Application Market Share, 2023 & 2030
                   6.2. Segment Dashboard
                   6.3. Global Astaxanthin Market by Application Outlook
                   6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                       6.4.1. Nutraceuticals
                           6.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
                       6.4.2. Cosmetics
                           6.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
                       6.4.3. Aquaculture and Animal Feed
                           6.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
                       6.4.4. Food
                           6.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
                           6.4.4.2. Functional Food and Beverages
                               6.4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
                           6.4.4.3. Other traditional food manufacturing applications
                               6.4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 7. Astaxanthin Market: Regional Estimates & Trend Analysis
                   7.1. Regional Market Share Analysis, 2023 & 2030
                   7.2. Regional Market Dashboard
                   7.3. Global Regional Market Snapshot
                   7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030
                   7.5. North America
                       7.5.1. U.S.
                           7.5.1.1. Key country dynamics
                           7.5.1.2. Regulatory framework/ reimbursement structure
                           7.5.1.3. Competitive scenario
                           7.5.1.4. U.S. market estimates and forecasts 2018 to 2030 (USD Million)
                       7.5.2. Canada
                           7.5.2.1. Key country dynamics
                           7.5.2.2. Regulatory framework/ reimbursement structure
                           7.5.2.3. Competitive scenario
                           7.5.2.4. Canada market estimates and forecasts 2018 to 2030 (USD Million)
                   7.6. Europe
                       7.6.1. UK
                           7.6.1.1. Key country dynamics
                           7.6.1.2. Regulatory framework/ reimbursement structure
                           7.6.1.3. Competitive scenario
                           7.6.1.4. UK market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.2. Germany
                           7.6.2.1. Key country dynamics
                           7.6.2.2. Regulatory framework/ reimbursement structure
                           7.6.2.3. Competitive scenario
                           7.6.2.4. Germany market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.3. France
                           7.6.3.1. Key country dynamics
                           7.6.3.2. Regulatory framework/ reimbursement structure
                           7.6.3.3. Competitive scenario
                           7.6.3.4. France market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.4. Italy
                           7.6.4.1. Key country dynamics
                           7.6.4.2. Regulatory framework/ reimbursement structure
                           7.6.4.3. Competitive scenario
                           7.6.4.4. Italy market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.5. Spain
                           7.6.5.1. Key country dynamics
                           7.6.5.2. Regulatory framework/ reimbursement structure
                           7.6.5.3. Competitive scenario
                           7.6.5.4. Spain market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.6. Russia
                           7.6.6.1. Key country dynamics
                           7.6.6.2. Regulatory framework/ reimbursement structure
                           7.6.6.3. Competitive scenario
                           7.6.6.4. Russia market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.7. Norway
                           7.6.7.1. Key country dynamics
                           7.6.7.2. Regulatory framework/ reimbursement structure
                           7.6.7.3. Competitive scenario
                           7.6.7.4. Norway market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.8. Sweden
                           7.6.8.1. Key country dynamics
                           7.6.8.2. Regulatory framework/ reimbursement structure
                           7.6.8.3. Competitive scenario
                           7.6.8.4. Sweden market estimates and forecasts 2018 to 2030 (USD Million)
                       7.6.9. Denmark
                           7.6.9.1. Key country dynamics
                           7.6.9.2. Regulatory framework/ reimbursement structure
                           7.6.9.3. Competitive scenario
                           7.6.9.4. Denmark market estimates and forecasts 2018 to 2030 (USD Million)
                   7.7. Asia Pacific
                       7.7.1. Japan
                           7.7.1.1. Key country dynamics
                           7.7.1.2. Regulatory framework/ reimbursement structure
                           7.7.1.3. Competitive scenario
                           7.7.1.4. Japan market estimates and forecasts 2018 to 2030 (USD Million)
                       7.7.2. China
                           7.7.2.1. Key country dynamics
                           7.7.2.2. Regulatory framework/ reimbursement structure
                           7.7.2.3. Competitive scenario
                           7.7.2.4. China market estimates and forecasts 2018 to 2030 (USD Million)
                       7.7.3. India
                           7.7.3.1. Key country dynamics
                           7.7.3.2. Regulatory framework/ reimbursement structure
                           7.7.3.3. Competitive scenario
                           7.7.3.4. India market estimates and forecasts 2018 to 2030 (USD Million)
                       7.7.4. Australia
                           7.7.4.1. Key country dynamics
                           7.7.4.2. Regulatory framework/ reimbursement structure
                           7.7.4.3. Competitive scenario
                           7.7.4.4. Australia market estimates and forecasts 2018 to 2030 (USD Million)
                       7.7.5. South Korea
                           7.7.5.1. Key country dynamics
                           7.7.5.2. Regulatory framework/ reimbursement structure
                           7.7.5.3. Competitive scenario
                           7.7.5.4. South Korea market estimates and forecasts 2018 to 2030 (USD Million)
                       7.7.6. Thailand
                           7.7.6.1. Key country dynamics
                           7.7.6.2. Regulatory framework/ reimbursement structure
                           7.7.6.3. Competitive scenario
                           7.7.6.4. Thailand market estimates and forecasts 2018 to 2030 (USD Million)
                       7.7.7. Singapore
                           7.7.7.1. Key country dynamics
                           7.7.7.2. Regulatory framework/ reimbursement structure
                           7.7.7.3. Competitive scenario
                           7.7.7.4. Singapore market estimates and forecasts 2018 to 2030 (USD Million)
                   7.8. Latin America
                       7.8.1. Brazil
                           7.8.1.1. Key country dynamics
                           7.8.1.2. Regulatory framework/ reimbursement structure
                           7.8.1.3. Competitive scenario
                           7.8.1.4. Brazil market estimates and forecasts 2018 to 2030 (USD Million)
                       7.8.2. Mexico
                           7.8.2.1. Key country dynamics
                           7.8.2.2. Regulatory framework/ reimbursement structure
                           7.8.2.3. Competitive scenario
                           7.8.2.4. Mexico market estimates and forecasts 2018 to 2030 (USD Million)
                       7.8.3. Argentina
                           7.8.3.1. Key country dynamics
                           7.8.3.2. Regulatory framework/ reimbursement structure
                           7.8.3.3. Competitive scenario
                           7.8.3.4. Argentina market estimates and forecasts 2018 to 2030 (USD Million)
                       7.8.4. Ecuador
                           7.8.4.1. Key country dynamics
                           7.8.4.2. Regulatory framework/ reimbursement structure
                           7.8.4.3. Competitive scenario
                           7.8.4.4. Ecuador market estimates and forecasts 2018 to 2030 (USD Million)
                   7.9. MEA
                       7.9.1. South Africa
                           7.9.1.1. Key country dynamics
                           7.9.1.2. Regulatory framework/ reimbursement structure
                           7.9.1.3. Competitive scenario
                           7.9.1.4. South Africa market estimates and forecasts 2018 to 2030 (USD Million)
                       7.9.2. Saudi Arabia
                           7.9.2.1. Key country dynamics
                           7.9.2.2. Regulatory framework/ reimbursement structure
                           7.9.2.3. Competitive scenario
                           7.9.2.4. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Million)
                       7.9.3. UAE
                           7.9.3.1. Key country dynamics
                           7.9.3.2. Regulatory framework/ reimbursement structure
                           7.9.3.3. Competitive scenario
                           7.9.3.4. UAE market estimates and forecasts 2018 to 2030 (USD Million)
                       7.9.4. Kuwait
                           7.9.4.1. Key country dynamics
                           7.9.4.2. Regulatory framework/ reimbursement structure
                           7.9.4.3. Competitive scenario
                           7.9.4.4. Kuwait market estimates and forecasts 2018 to 2030 (USD Million)
                       7.9.5. Israel
                           7.9.5.1. Key country dynamics
                           7.9.5.2. Regulatory framework/ reimbursement structure
                           7.9.5.3. Competitive scenario
                           7.9.5.4. Israel market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 8. Competitive Landscape
                   8.1. Recent Developments & Impact Analysis, By Key Market Participants
                   8.2. Company/Competition Categorization
                   8.3. Vendor Landscape
                       8.3.1. List of key distributors and channel partners
                       8.3.2. Key customers
                       8.3.3. Key company market share analysis, 2023
                       8.3.4. Algatech Ltd
                           8.3.4.1. Company overview
                           8.3.4.2. Financial performance
                           8.3.4.3. Product benchmarking
                           8.3.4.4. Strategic initiatives
                       8.3.5. Cyanotech Corporation
                           8.3.5.1. Company overview
                           8.3.5.2. Financial performance
                           8.3.5.3. Product benchmarking
                           8.3.5.4. Strategic initiatives
                       8.3.6. MicroA
                           8.3.6.1. Company overview
                           8.3.6.2. Financial performance
                           8.3.6.3. Product benchmarking
                           8.3.6.4. Strategic initiatives
                       8.3.7. Beijing Gingko Group (BGG)
                           8.3.7.1. Company overview
                           8.3.7.2. Financial performance
                           8.3.7.3. Product benchmarking
                           8.3.7.4. Strategic initiatives
                       8.3.8. Algalíf Iceland ehf
                           8.3.8.1. Company overview
                           8.3.8.2. Financial performance
                           8.3.8.3. Product benchmarking
                           8.3.8.4. Strategic initiatives
                       8.3.9. Fuji Chemical Industries Co., Ltd
                           8.3.9.1. Company overview
                           8.3.9.2. Financial performance
                           8.3.9.3. Product benchmarking
                           8.3.9.4. Strategic initiatives
                       8.3.10. PIVEG, Inc.
                           8.3.10.1. Company overview
                           8.3.10.2. Financial performance
                           8.3.10.3. Product benchmarking
                           8.3.10.4. Strategic initiatives
                       8.3.11. Atacama Bio Natural Products S.A
                           8.3.11.1. Company overview
                           8.3.11.2. Financial performance
                           8.3.11.3. Product benchmarking
                           8.3.11.4. Strategic initiatives
                       8.3.12. ENEOS Corporation
                           8.3.12.1. Company overview
                           8.3.12.2. Financial performance
                           8.3.12.3. Product benchmarking
                           8.3.12.4. Strategic initiatives
                       8.3.13. E.I.D. - Parry (India) Limited
                           8.3.13.1. Company overview
                           8.3.13.2. Financial performance
                           8.3.13.3. Product benchmarking
                           8.3.13.4. Strategic initiatives


List of Tables

Table 1 List of Secondary Sources
Table 2 List of Abbreviations
Table 3 Leading Market Players Anticipated to Witness Highest Growth
Table 4 Global Astaxanthin Market, By Region, 2018 - 2030 (USD Million)
Table 5 Global Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 6 Global Astaxanthin Market, By Product, 2018 - 2030 (USD Million)
Table 7 Global Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 8 North America Astaxanthin Market, By Country, 2018 - 2030 (USD Million)
Table 9 North America Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 10 North America Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 11 North America Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 12 U.S. Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 13 U.S. Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 14 U.S. Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 15 Canada Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 16 Canada Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 17 Canada Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 18 Europe Astaxanthin Market, By Country, 2018 - 2030 (USD Million)
Table 19 Europe Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 20 Europe Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 21 Europe Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 22 Germany Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 23 Germany Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 24 Germany Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 25 France Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 26 France Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 27 France Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 28 UK Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 29 UK Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 30 UK Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 31 Spain Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 32 Spain Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 33 Spain Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 34 Italy Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 35 Italy Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 36 Italy Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 37 Russia Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 38 Russia Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 39 Russia Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 40 Denmark Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 41 Denmark Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 42 Denmark Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 43 Sweden Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 44 Sweden Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 45 Sweden Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 46 Norway Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 47 Norway Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 48 Norway Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 49 Asia Pacific Astaxanthin Market, By Country, 2018 - 2030 (USD Million)
Table 50 Asia Pacific Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 51 Asia Pacific Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 52 Asia Pacific Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 53 Japan Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 54 Japan Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 55 Japan Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 56 China Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 57 China Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 58 China Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 59 India Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 60 India Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 61 India Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 62 Australia Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 63 Australia Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 64 Australia Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 65 South Korea Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 66 South Korea Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 67 South Korea Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 68 Singapore Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 69 Singapore Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 70 Singapore Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 71 Thailand Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 72 Thailand Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 73 Thailand Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 74 Latin America Astaxanthin Market, By Country, 2018 - 2030 (USD Million)
Table 75 Latin America Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 76 Latin America Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 77 Latin America Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 78 Brazil Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 79 Brazil Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 80 Brazil Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 81 Mexico Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 82 Mexico Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 83 Mexico Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 84 Argentina Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 85 Argentina Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 86 Argentina Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 87 Ecuador Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 88 Ecuador Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 89 Ecuador Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 90 Middle East and Africa Astaxanthin Market, By Country, 2018 - 2030 (USD Million)
Table 91 Middle East and Africa Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 92 Middle East and Africa Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 93 Middle East and Africa Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 94 South Africa Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 95 South Africa Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 96 South Africa Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 97 Saudi Arabia Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 98 Saudi Arabia Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 99 Saudi Arabia Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 100 UAE Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 101 UAE Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 102 UAE Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 103 Israel Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 104 Israel Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 105 Israel Astaxanthin Market, By Application, 2018 - 2030 (USD Million)
Table 106 Kuwait Astaxanthin Market, By Source, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 107 Kuwait Astaxanthin Market, By Product, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Table 108 Kuwait Astaxanthin Market, By Application, 2018 - 2030 (USD Million)


List of Figures

Fig. 1 Astaxanthin market segmentation
Fig. 2 Market research process
Fig. 3 Information procurement
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market formulation & validation
Fig. 12 Penetration & growth prospect mapping
Fig. 13 User perspective analysis
Fig. 14 Astaxanthin market driver impact
Fig. 15 Market restraint relevance analysis (Current & future impact)
Fig. 16 SWOT analysis, by factor (Political & legal, economic, and technological)
Fig. 17 Porter’s five forces analysis
Fig. 18 Astaxanthin market: Source movement analysis
Fig. 19 Astaxanthin market: Source segment dashboard
Fig. 20 Astaxanthin market, source outlook: Key takeaways
Fig. 21 Natural astaxanthin market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 22 Yeast natural astaxanthin market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 23 Krill/shrimp natural astaxanthin market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 24 Microalgae natural astaxanthin market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 25 Others natural astaxanthin market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 26 Synthetic astaxanthin market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 27 Astaxanthin market: Product movement analysis
Fig. 28 Astaxanthin market: Product segment dashboard
Fig. 29 Astaxanthin market, product outlook: Key takeaways
Fig. 30 Dried algae meal or biomass market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 31 Oil market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 32 Softgel market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 33 Liquid market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 34 Others astaxanthin market, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 35 Astaxanthin market: Application movement analysis
Fig. 36 Astaxanthin: Application segment dashboard
Fig. 37 Astaxanthin market, application outlook: Key takeaways
Fig. 38 Nutraceuticals market, 2018 - 2030 (USD Million)
Fig. 39 Cosmetics market, 2018 - 2030 (USD Million)
Fig. 40 Aquaculture and animal feed market, 2018 - 2030 (USD Million)
Fig. 41 Food market, 2018 - 2030 (USD Million)
Fig. 42 Functional food & beverages market, 2018 - 2030 (USD Million)
Fig. 43 Other traditional food manufacturing applications market, 2018 - 2030 (USD Million)
Fig. 44 Others market, 2018 - 2030 (USD Million)
Fig. 45 Regional marketplace: Key takeaways
Fig. 46 Astaxanthin market: Regional movement analysis
Fig. 47 North America
Fig. 48 North America astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 49 U.S. key country dynamics
Fig. 50 U.S. astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 51 Canada key country dynamics
Fig. 52 Canada market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 53 Europe
Fig. 54 Europe astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 55 Germany key country dynamics
Fig. 56 Germany astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 57 UK key country dynamics
Fig. 58 UK astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 59 France key country dynamics
Fig. 60 France astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 61 Spain key country dynamics
Fig. 62 Spain astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 63 Italy key country dynamics
Fig. 64 Italy astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 65 Russia key country dynamics
Fig. 66 Russia astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 67 Denmark key country dynamics
Fig. 68 Denmark astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 69 Norway key country dynamics
Fig. 70 Norway astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 71 Sweden key country dynamics
Fig. 72 Sweden astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 73 Asia Pacific
Fig. 74 Asia Pacific astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 75 Japan key country dynamics
Fig. 76 Japan astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 77 China key country dynamics
Fig. 78 China astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 79 India key country dynamics
Fig. 80 India astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 81 South Korea key country dynamics
Fig. 82 South Korea astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 83 Australia key country dynamics
Fig. 84 Australia astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 85 Singapore key country dynamics
Fig. 86 Singapore astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 87 Thailand key country dynamics
Fig. 88 Thailand astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 89 Latin America
Fig. 90 Latin America astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 91 Brazil key country dynamics
Fig. 92 Brazil astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 93 Mexico key country dynamics
Fig. 94 Mexico astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 95 Argentina key country dynamics
Fig. 96 Argentina astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 97 Ecuador key country dynamics
Fig. 98 Ecuador astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 99 MEA
Fig. 100 MEA astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig 101 Saudi Arabia key country dynamics
Fig. 102 Saudi Arabia astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 103 South Africa key country dynamics
Fig. 104 South Africa astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 105 UAE key country dynamics
Fig. 106 UAE astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 107 Israel key country dynamics
Fig. 108 Israel astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 109 Kuwait key country dynamics
Fig. 110 Kuwait astaxanthin market estimates and forecast, 2018 - 2030 (USD Million) (Volume, in Metric Tonnes)
Fig. 111 Major deals and strategic alliances analysis
Fig. 112 Ansoff matrix
Fig. 113 Competition categorization
Fig. 114 Company market position analysis
Fig. 115 Company market position analysis
Fig. 116 Key company market share analysis, 2023
Fig. 117 Heat map analysis
Fig. 118 Regional network map

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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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Research Methodology

A three-pronged approach was followed for deducing the astaxanthin market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for astaxanthin market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of astaxanthin market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Astaxanthin Market Categorization:

The astaxanthin market was categorized into four segments, namely source (Natural, Synthetic), product (Dried Algae Meal or Biomass, Oil, Softgel, Liquid), application (Nutraceuticals, Cosmetics, Aquaculture And Animal Feed Food), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The astaxanthin market was segmented into source, product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The astaxanthin market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-seven countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Russia; Norway; Demark; Sweden; India; China; Japan; Australia; South Korea; Singapore; Thailand; Brazil; Mexico; Argentina; Ecuador; Saudi Arabia; UAE; South Africa; Israel; and Kuwait

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Astaxanthin market companies & financials:

The astaxanthin market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Algatech LTD Algatech is a biotechnology company specializing in commercial cultivation, production, and supply of microalgae & AstaPure-a natural astaxanthin. It also focuses on production of nutritional ingredients from various natural resources and provides consultation & postprocessing for large-scale microalgae cultivation. The company’s technology and expertise allow cultivation of microalgae at one of the world’s largest photobioreactor facilities, which helps prevent exposure to chemical, physical, or microbiological contaminants. Owing to these unique capabilities, the company is a leading manufacturer of astaxanthin.

     

  • Cyanotech Corporation It manufactures products from microalgae. The company is actively involved in production and commercialization of natural products, such as astaxanthin. In addition to products based on microalgae and food coloring, the company produces other natural nutritional products & fluorescent pigments used in immunological diagnostics. Natural astaxanthin produced by the company is sold as BioAstin, which has been certified as safe by the U.S. FDA for human consumption. The company developed and implemented innovative production & is harvesting technologies that are expected to reduce contamination problems encountered while producing microalgae.

     

  • Fuji Chemical Industries Co., Ltd. It is a privately held company mainly engaged in the production and marketing of pharmaceutical products & food additives. It is also engaged in planning, development, and sales of chemical products related to astaxanthin-AstaReal & AstaTrol. The company is focused on enhancing its product portfolio in sales and marketing of bulk pharmaceutical products in the U.S. AstaReal Group, which is an affiliate company of Fuji Chemical Industries Co., Ltd., is responsible for marketing and sales of natural astaxanthin in Asia Pacific, Europe, the U.S., the Middle East, South East Asia, Australia, and New Zealand. The company currently has 407 employees. AstaReal AB is a part of the AstaReal Group, which is owned by Fuji Chemical Industries Co., Ltd. In 1990s, AstaReal developed a technology using photobioreactors to cultivate Haematococcus pluvialis. The production facility is ISO- & HACCP-certified. In 1995, the company launched Astaxin.

     

  • PIVEG, Inc. Piveg, Inc. specializes in the production, extraction, purification, and manufacturing of naturally occurring carotenoids in marigold flowers & chili peppers. It develops and manufactures products for nutraceutical, agricultural, food & beverage, feed, & cosmetics industries. It has over 42 product specifications and provides product customization & made-to-order products. The company has extensive facilities in Mexico & Peru and distributors in Asia, Europe, & North & South America. For human health applications, the company offers astaxanthin, lutein, and zeaxanthin. In addition, products are backed with certifications such as GMP, HACCP, ISO 9001:2000, ISO 22000:2005, California Prop 65, Kosher Certified, and FDA.

     

  • E.I.D. - PARRY (INDIA) LIMITED (ALIMTEC S.A., VALENSA INTERNATIONAL) It is a part of Murugappa Group and a global leader in sugar, biopesticides, & nutraceuticals (microalgae & organic spirulina products). It has nine sugar plants across South India and a strong portfolio of neem-based biopesticides (Neemazal) in India as well as overseas markets. It is a leading company in organic spirulina and microalgal products. Parry Nutraceuticals is one of the divisions of E.I.D.– Parry, which deals in sugar & nutraceuticals. E.I.D.– Parry’s spirulina products consist of three international certifications and are sold in nearly 41 countries globally. The company is also involved in business of farm inputs through its subsidiary, Coromandel International Limited. In 2014, E.I.D. Parry (India) Ltd. acquired 100% of Alimtec Company. Alimtec is a facility that grows algae to develop astaxanthinrich H. pluvialis biomass. Valensa International is also owned by E.I.D.-Parry, and its microalgae are produced by a sister company- Alimtec S.A.

     

  • Beijing Gingko Group (BGG) Beijing Gingko Group (BGG) is a global leader in manufacturing and sourcing of natural ingredients for food & beverage, cosmetic, and dietary supplement industries. The company manufactures high-quality, organic & non-GMO raw materials and produces natural and nutritional ingredients to aid & enhance quality of life & wellbeing. BGG specializes in marine botanicals, organic fruit extracts, herbal extracts, natural vitamins, flavor enhancers, and natural sweeteners. Its key products are AstaZine (astaxanthin), LingonMax, ApplePhenon, MyrtiPro, CyaniMax, TheraQ7, ThinOgen, and TheraPrimE. It partnered with the Institute of Medicinal Plant Development and Peking Union Medical College to protect, develop, & support resources of medicinal plants. It is one of largest producers of astaxanthin and offers products across the globe.

     

  • ENEOS Corporation ENEOS Corporation (JXTG Nippon Oil & Energy Corporation) is engaged in refining and marketing petroleum & petrochemical products and importing & selling gas & coal. The company offers optical films, astaxanthin, lubricants, sheet pallet systems, resin products, and reinforcing fibers. Panaferd-AX derived from bacteria is one of the products of the company similar to synthetic astaxanthin and is authorized only for production of feeds for salmon & trout.

     

  • Algalíf Iceland ehf It is a nutraceuticals and dietary supplements manufacturing company. It is one of the leading suppliers of high-grade natural astaxanthin products, including ingredients and finished formulations, from microalgae. Algalif is a part of Sana Pharma Holding, which was founded in 2002 and operates across OTC medicines, medical devices, food supplements, and ingredient manufacturing. Sana Pharma has an employee strength of more than 200, and its production process is designed to offer high yields of astaxanthin using renewable energy & Icelandic water. The company commercializes a range of immune-health ingredients, such as Nutramunity Beta-Glucan, for use in personal care products, sports nutrition, nutraceuticals, and food & beverages.

     

  • Atacama Bio Natural Products S.A. Atacama Bio Natural Products S.A. is a biotechnology corporation that cultures algae to extract healthy ingredients for human and animal use. The company has the advantage of its field location with the Atacama Desert in the surroundings. It has a 250 acres facility in a high-light intensity region with pure water from the Andes Mountains. The company’s products are ISO 9001-, Chile Kosher-, and HALAL-certified and verified through NAXA.

     

  • ALGAMO It is specialized in algae cultivation and subsequent active substance extraction. These active substances are used in the cosmetic & pharmaceutical industries and food supplements production. The products are sold under the trademark ALGASTIN.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Smart Home Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Smart Home Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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