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Astaxanthin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global astaxanthin market reached a value of US$ 696.4 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,122.1 Million by 2027, exhibiting a CAGR of 8.39% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. 

Astaxanthin (C40H52O4) is a red fat, soluble carotenoid pigment found in various microorganisms and marine animals. It belongs to chemical compounds known as terpenes that are made from five-carbon precursors, dimethylallyl diphosphate and isopentenyl diphosphate. It has antioxidants and anti-inflammatory and antineoplastic properties, which assist in enhancing the immune system, preventing damage caused by ultraviolet (UV) rays, protecting against chemically induced cancers, and treating several diseases. Consequently, it is utilized as a functional food ingredient, dietary supplement, and feed additive across the globe.

Astaxanthin Market Trends:

The increasing prevalence of diseases like diabetes, cancer, cognitive health problems and cardiovascular diseases represents one of the significant factors propelling the growth of the market. Astaxanthin aids in increasing blood flow, minimizing blood sugar levels and reducing pain in muscles, joints, and tendons. It also prevents photoaging, improves sleep cycles, combats depression, and increases sperm motility. Besides this, on account of its ability to preserve the taste, color, freshness, and quality of food items, there is a significant rise in the demand for astaxanthin as a food-additive and food-coloring agent in the food and beverage (F&B) industry across the globe. Furthermore, astaxanthin is widely used for skin tightening, decreasing fine lines and wrinkles and retaining moisture and elasticity. Apart from this, various manufacturers are utilizing cost-effective technologies to reduce water wastage and save electricity, which is acting as another growth-inducing factor. For instance, they are employing a sealed microalgae cultivation system that minimizes the risks associated with microbial contamination and agricultural residue. Other major factors, including the increasing preference for dietary supplements and rising nutritional deficiency among individuals, are projected to bolster the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global astaxanthin market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on source, product and application.

Breakup by Source:

  • Natural
    • Yeast
    • Krill/Shrimp
    • Microalgae
    • Others
  • Synthetic
     

Breakup by Product:

  • Dried Algae Meal or Biomass
  • Oil
  • Softgel
  • Liquid
  • Others
     

Breakup by Application:

  • Nutraceuticals
  • Cosmetics
  • Aquaculture and Animal Feed
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Algatech LTD(Société La Biochimie Appliquée SA), BASF SE, Beijing Gingko Group, Cardax Inc, Cyanotech Corporation, Divi's Laboratories Limited, E.I.D. - Parry (India) Limited (Murugappa Group), Fenchem Biotek Ltd, Fuji Chemical Industries Co. Ltd. , Koninklijke DSM N.V. and Piveg Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
Segment Coverage Source, Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Algatech LTD(Société La Biochimie Appliquée SA), BASF SE, Beijing Gingko Group, Cardax Inc, Cyanotech Corporation, Divi's Laboratories Limited, E.I.D. - Parry (India) Limited (Murugappa Group), Fenchem Biotek Ltd, Fuji Chemical Industries Co. Ltd. , Koninklijke DSM N.V. and Piveg Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Astaxanthin Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Source
    6.1    Natural
        6.1.1 Market Trends
        6.1.2 Key Segments
           6.1.2.1 Yeast
           6.1.2.2 Krill/Shrimp
           6.1.2.3 Microalgae
           6.1.2.4 Others
        6.1.3 Market Forecast
    6.2    Synthetic
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Product
    7.1    Dried Algae Meal or Biomass
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Oil
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Softgel
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Liquid
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Application
    8.1    Nutraceuticals
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Cosmetics
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Aquaculture and Animal Feed
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9   Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10  SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13  Price Analysis
14  Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Algatech LTD(Société La Biochimie Appliquée SA)
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    BASF SE
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Beijing Gingko Group
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Cardax Inc
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
        14.3.5    Cyanotech Corporation
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    Divi's Laboratories Limited
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    E.I.D. - Parry (India) Limited (Murugappa Group)
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
        14.3.8    Fenchem Biotek Ltd
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Fuji Chemical Industries Co. Ltd. 
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Koninklijke DSM N.V.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Piveg Inc.
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio

List of Figures

Figure 1: Global: Astaxanthin Market: Major Drivers and Challenges
Figure 2: Global: Astaxanthin Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Astaxanthin Market: Breakup by Source (in %), 2021
Figure 5: Global: Astaxanthin Market: Breakup by Product (in %), 2021
Figure 6: Global: Astaxanthin Market: Breakup by Application (in %), 2021
Figure 7: Global: Astaxanthin Market: Breakup by Region (in %), 2021
Figure 8: Global: Astaxanthin (Natural) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Astaxanthin (Natural) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Astaxanthin (Synthetic) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Astaxanthin (Synthetic) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Astaxanthin (Dried Algae Meal or Biomass) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Astaxanthin (Dried Algae Meal or Biomass) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Astaxanthin (Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Astaxanthin (Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Astaxanthin (Softgel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Astaxanthin (Softgel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Astaxanthin (Liquid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Astaxanthin (Liquid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Astaxanthin (Other Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Astaxanthin (Other Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Astaxanthin (Nutraceuticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Astaxanthin (Nutraceuticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Astaxanthin (Cosmetics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Astaxanthin (Cosmetics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Astaxanthin (Aquaculture and Animal Feed) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Astaxanthin (Aquaculture and Animal Feed) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Astaxanthin (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Astaxanthin (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: North America: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: North America: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: United States: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: United States: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Canada: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Canada: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Asia-Pacific: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Asia-Pacific: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: China: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: China: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Japan: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Japan: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: India: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: India: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: South Korea: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: South Korea: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Australia: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Australia: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Indonesia: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Indonesia: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Others: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Others: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Europe: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Europe: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Germany: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Germany: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: France: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: France: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: United Kingdom: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: United Kingdom: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Italy: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Italy: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Spain: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Spain: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Russia: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Russia: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Latin America: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Latin America: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Brazil: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Brazil: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Mexico: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Mexico: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Others: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Others: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Middle East and Africa: Astaxanthin Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Middle East and Africa: Astaxanthin Market: Breakup by Country (in %), 2021
Figure 78: Middle East and Africa: Astaxanthin Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Global: Astaxanthin Industry: SWOT Analysis
Figure 80: Global: Astaxanthin Industry: Value Chain Analysis
Figure 81: Global: Astaxanthin Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Astaxanthin Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Astaxanthin Market Forecast: Breakup by Source (in Million US$), 2022-2027
Table 3: Global: Astaxanthin Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 4: Global: Astaxanthin Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Astaxanthin Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Astaxanthin Market: Competitive Structure
Table 7: Global: Astaxanthin Market: Key Players


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Key Questions Answered in This Report

The global astaxanthin market was valued at US$ 696.4 Million in 2021.

We expect the global astaxanthin market to exhibit a CAGR of 8.39% during 2022-2027.

The growing consumer awareness towards numerous health-benefits of astaxanthin in enhancing the
immune system, preventing damage caused by UV rays, providing protection against chemically-induced
disorders, etc., is primarily driving the global astaxanthin market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of
astaxanthin.

Based on the source, the global astaxanthin market can be segmented into natural and synthetic.
Currently, synthetic holds the majority of the total market share.

Based on the product, the global astaxanthin market has been divided into dried algae meal or biomass,
oil, softgel, liquid, and others. Among these, dried algae meal or biomass currently exhibits a clear
dominance in the market.

Based on the application, the global astaxanthin market can be categorized into nutraceuticals,
cosmetics, aquaculture and animal feed, and others. Currently, aquaculture and animal feed accounts
for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global astaxanthin market include Algatech LTD (Société La Biochimie
Appliquée SA), BASF SE, Beijing Gingko Group, Cardax Inc, Cyanotech Corporation, Divi's Laboratories
Limited, E.I.D. - Parry (India) Limited (Murugappa Group), Fenchem Biotek Ltd, Fuji Chemical Industries
Co. Ltd., Koninklijke DSM N.V., and Piveg Inc.

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