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Astaxanthin - Global Market Trajectory & Analytics

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    Report

  • 393 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804978

Global Astaxanthin Market to Reach $787.5 Million by 2026


Astaxanthin is a naturally-occurring reddish pigment with a variety of applications including antioxidants for humans, healthcare ingredients, and animal feed ingredients among others. Astaxanthin is among the most widely used carotenoids for pigmenting trout and salmon. Commercially, astaxanthin is produced through chemical synthesis process, and also extracted from naturally occurring sources like Paracoccus bacteria, Haematococcus pluvialis (H. pluvialis) microalgae, Phaffia yeast, and shrimp bi-products. Demand in the market is being driven by rising use in various industries such as dietary supplements, animal feed and aquaculture, food and beverages, cosmetics, and pharmaceuticals, among others. In the recent years, the publication of study results offering support for the capabilities of astaxanthin in protecting heart health, improving workout endurance, and reducing wrinkles has contributed significantly to the growth. Astaxanthin is growing in popularity as an immune booster and is expected to witness growth given the present COVID-19 pandemic and the need for immune supplements to fight against the virus. Astaxanthin is used even in treating difficult conditions such as Parkinson`s and Alzheimer`s disease. Research is also in progress to study the benefits of using Astaxanthin in cancer treatment. Astaxanthin is also expected to aid in improving physical endurance during exercise, opening up a potentially new application.

Amid the COVID-19 crisis, the global market for Astaxanthin estimated at US$613.3 Million in the year 2022, is projected to reach a revised size of US$787.5 Million by 2026, growing at a CAGR of 5.8% over the analysis period. Synthetic, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$492.7 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Natural segment is readjusted to a revised 6.2% CAGR for the next 7-year period. This segment currently accounts for a 40.5% share of the global Astaxanthin market. Astaxanthin is naturally present in red-colored aquatic species. Natural astaxanthin has been found to more than 500 times more powerful than vitamin E and relatively more potent as compared to other carotenoids such as ?-carotene, lycopene, and lutein. Natural astaxanthin is increasingly used in food and beverage products. Synthetic astaxanthin is generally used in the production of animal feeds, particularly in the fish farming sector. Most of the commercial astaxanthin used in aquaculture is made synthetically.

The U.S. Market is estimated at $120 Million in 2022, While China is Forecast to Reach $183.8 Million by 2026


The Astaxanthin market in the U.S. is estimated at US$120 Million in the year 2022. The country currently accounts for a 19.71% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$183.8 Million in the year 2026 trailing a CAGR of 7.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR while Rest of European market (as defined in the study) will reach US$198.9 Million by the end of the analysis period. North America and Europe are the largest markets for Astaxanthin owing to the wide range of products fortified with the pigment. North America is a key astaxanthin market, supported by significant health consciousness among people, and growing awareness of the benefits of astaxanthin, among other factors. Moreover, the benefits of antioxidants are gaining popularity among consumers in these markets owing to various organizations elucidating on the benefits of the pigment. Accounting for a substantial share of global aquaculture exports, the South Asian region is one of the major consumers of Astaxanthin for aquaculture. Moreover, increasing consumption of seafood in the region is also expected to aid in demand growth.

Select Competitors (Total 56 Featured):

  • Algaecan Biotech Ltd
  • Algatechnologies Ltd
  • AstaReal, Inc
  • AstaSupreme
  • BASF SE
  • Beijing Gingko Group Co Ltd
  • Cardax, Inc
  • Cyanotech Corporation
  • Divi's Laboratories Limited
  • Fenchem Biotek Ltd
  • Fuji Chemical Industries Co., Ltd
  • Koninklijke DSM N.V
  • Otsuka Pharmaceutical
  • Parry Nutraceuticals
  • Piveg, Inc.
  • Valensa International

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Frequently Asked Questions about the Global Market for Astaxanthin

What is the estimated value of the Global Market for Astaxanthin?

The Global Market for Astaxanthin was estimated to be valued at $613.3 Million in 2022.

What is the growth rate of the Global Market for Astaxanthin?

The growth rate of the Global Market for Astaxanthin is 6.4%, with an estimated value of $787.5 Million by 2026.

What is the forecasted size of the Global Market for Astaxanthin?

The Global Market for Astaxanthin is estimated to be worth $787.5 Million by 2026.

Who are the key companies in the Global Market for Astaxanthin?

Key companies in the Global Market for Astaxanthin include Algaecan Biotech Ltd, Algatechnologies Ltd, AstaReal, Inc, AstaSupreme, BASF SE, Beijing Gingko Group Co Ltd, Cardax, Inc, Cyanotech Corporation and Fenchem Biotek Ltd.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and a Looming Global Recession
  • Focus on Nutrition and Immunity Presents Opportunity for Functional Foods & Supplements
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • An Introduction to Astaxanthin
  • Natural & Synthetic Sources
  • Uses and Benefits of Astaxanthin
  • Nutraceuticals, Dietary Supplements and Feed Additives Demand to Provide the Foundation for Growth in the Astaxanthin Market
  • Feed Emerges as the Major Application Segment
  • Rising Demand for Astaxanthin from Developing Countries
  • Competition
  • World Brands
  • Recent Market Activity
  • Astaxanthin - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Significant Benefits of Astaxanthin in Varied End-Use Industries to Boost Market Prospects
  • Natural Astaxanthin Demand Grows Led by Rising Consumer Preference for Natural Products
  • Extensive Usage of Astaxanthin as a Prominent Ingredient in Aquafeed Market Forms a Strong Basis for Growth
  • With Fish Color Becoming a Critical Factor for Customers, Astaxanthin Emerges as a Vital Ingredient for Aquaculture Industry
  • Growing Relevance of Live Feeds in Aquaculture for Fish Pigmentation & Development Fuels Astaxanthin Market
  • COVID-19 Pandemic’s Devastating Impact on Aquaculture Industry Affects Fish Food Market, Impacting Demand for Astaxanthin
  • Global Aquaculture Production (in Mt) for the Years 2011 through 2027
  • Global Fish Production (In Thousand Tonnes) by Aquaculture and Capture Fisheries for the Years 2019, 2021, 2023, 2025 and 2027
  • Global Per Capita Fish Consumption (in Kg per Capita) by Region for 2019
  • Government Support for Aquaculture Industry Provides Growth Impetus
  • Growing Demand for Natural Food Coloring Agents Offers Immense Growth Opportunities for Natural Astaxanthin in F&B Industry
  • Global Food Colors Market Size (in US$ Billion) for the Years 2020, 2022, 2025 and 2027
  • Growing Demand for Nutraceuticals & Supplements Creates a Strong Foundation for the Growth of Astaxanthin
  • Global Dietary Supplements Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
  • Health & Wellness Trend Catalyzes Growth of Functional Foods & Drinks, Presenting Opportunities for Astaxanthin Market
  • Global Functional Foods and Drinks Market Size (in US$ Thousand) by Region for the Years 2020 & 2027
  • Innovations and Advancements to Boost Market Prospects
  • Increasing Preference for Natural Ingredients in Healthcare Drives Demand for Astaxanthin
  • Astaxanthin Holds Potential in Improving Cardiovascular Functioning
  • Astaxanthin-Tocotrienols Combination Provides Greater Cognitive Benefits
  • Increasing Expenditure on Personal Care and Cosmetic Products Propels Market Growth
  • Growing Sales of Natural and Organic Cosmetic Products: Potential for Growth
  • Global Natural Cosmetics Market: Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Anti-Aging Benefits of Astaxanthin Propels Market Growth in the Cosmetics Industry
  • Expanding Anti-Aging Products Market Drives Demand for Natural Astaxanthin: Global Anti-Aging Cosmetics Market for the Years 2018, 2020, 2022 and 2024
  • Study Finds Astaxanthin to Protect Skin from UV-Related Damage
  • Demographic & Socio-Economic Factors Influence Market Prospects
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Urbanization Phenomenon
  • World Urban Population in Thousands: 1950-2050P
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Middle Class Population
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Rising Importance in Animal Nutrition Boosts Market
CANADA
JAPAN
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Rising Demand for Nutraceuticals Fuels Growth in Astaxanthin Market
EUROPE
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Growing Demand for Eye Health Products Augurs Well for the Market
FRANCE
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Asia-Pacific: A High Growth Market
AUSTRALIA
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Astaxanthin Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 56

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Algaecan Biotech Ltd
  • Algatechnologies Ltd
  • AstaReal, Inc
  • AstaSupreme
  • BASF SE
  • Beijing Gingko Group Co Ltd
  • Cardax, Inc
  • Cyanotech Corporation
  • Divi's Laboratories Limited
  • Fenchem Biotek Ltd
  • Fuji Chemical Industries Co., Ltd
  • Koninklijke DSM N.V
  • Otsuka Pharmaceutical
  • Parry Nutraceuticals
  • Piveg, Inc.
  • Valensa International