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Global Astaxanthin Market Report and Forecast 2023-2031

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  • 147 Pages
  • April 2023
  • Region: Global
  • Expert Market Research
  • ID: 5797880
The global astaxanthin market size attained a value of USD 1.3 billion in 2022. The market is likely to grow at a CAGR of 14.60% during the forecast period of 2023-2031, likely to reach a value of USD 4.45 billion by 2031.

Astaxanthin Market: Introduction

Astaxanthin is a powerful antioxidant belonging to the carotenoid family, which is responsible for the vibrant red, orange, and yellow pigments found in various plants, algae, and seafood. It is commonly found in microalgae Haematococcus pluvialis, and it gives the reddish colour to salmon, shrimp, lobster, and some species of birds such as flamingos. Astaxanthin has gained significant attention in recent years due to its numerous health benefits, potent antioxidant properties, and potential applications in various industries, such as nutraceuticals, cosmetics, and aquaculture.

Applications of Astaxanthin:
  • Nutraceuticals and dietary supplements: Astaxanthin is widely used as a dietary supplement due to its potent antioxidant properties, which are believed to be significantly stronger than those of other well-known antioxidants like vitamin C, vitamin E, and beta-carotene. It helps combat oxidative stress, reduce inflammation, and support overall health and wellness
  • Skin health and cosmetics: Astaxanthin has been shown to improve skin health by reducing the signs of aging, such as wrinkles and age spots, and improving skin elasticity and moisture content. It has been incorporated into various cosmetic products like creams, lotions, and serums for its skin-protective properties, and it also helps combat damage caused by exposure to UV radiation
  • Eye health: Astaxanthin has been found to support eye health by reducing eye fatigue, improving visual acuity, and protecting the eyes from oxidative damage. It is increasingly used in eye health supplements and formulations designed to address age-related macular degeneration, cataracts, and other eye conditions
  • Cardiovascular health: Astaxanthin has demonstrated potential benefits for cardiovascular health by reducing oxidative stress, improving lipid profiles, and supporting healthy blood flow. These properties make it an attractive ingredient in supplements aimed at promoting heart health and reducing the risk of cardiovascular diseases
  • Aquaculture: Astaxanthin is widely used in the aquaculture industry to enhance the coloration of farmed fish, such as salmon and trout. It also contributes to the overall health of the fish, as it provides essential nutrients and supports the immune system
  • Sports nutrition: Astaxanthin has been shown to improve exercise performance and endurance, reduce muscle damage and inflammation, and promote faster recovery. It is increasingly being incorporated into sports nutrition supplements to support athletes and fitness enthusiasts in achieving their performance goals
In summary, astaxanthin is a powerful antioxidant with a wide range of applications across various industries, including nutraceuticals, cosmetics, eye health, cardiovascular health, aquaculture, and sports nutrition. Its numerous health benefits and unique properties make it an attractive ingredient for the development of innovative products and formulations.

Astaxanthin Market Segmentations

The market can be categorised into product, source, application, and region.

Market Breakup by Product

  • Dried Algae Meal or Biomass
  • Oil
  • Soft gel
  • Liquid
  • Others

Market Breakup by Source

  • Natural
  • Synthetic

Market Breakup by Application

  • Aquaculture and animal feed
  • Nutraceuticals
  • Cosmetics
  • Food
  • Others

Astaxanthin Market Breakup by Region

North America

  • United States of America
  • Canada


  • United Kingdom
  • Germany
  • France
  • Italy
  • Others

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • Others

Latin America

  • Brazil
  • Argentina
  • Mexico
  • Others

Middle East and Africa

  • Saudi Arabia
  • United Arab Emirates
  • Nigeria
  • South Africa
  • Others

Astaxanthin Market Scenario

The astaxanthin market has witnessed substantial growth in recent years, driven by increasing consumer awareness of its numerous health benefits, applications across various industries, and a growing demand for natural, high-quality antioxidants. The market has expanded into nutraceuticals, cosmetics, eye health, cardiovascular health, aquaculture, and sports nutrition sectors. Additionally, research and development efforts continue to explore new applications and benefits of astaxanthin, further bolstering the market's potential. As consumer preferences shift towards natural and health-promoting ingredients, the astaxanthin market is expected to experience sustained growth in the coming years.

Key Players in the Global Astaxanthin Market

The report gives an in-depth analysis of the key players involved in the astaxanthin market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
  • Algatech Ltd
  • Cyanotech Corporation
  • MicroA
  • Beijing Gingko Group (BGG)
  • Algalíf Iceland ehf
  • Fuji Chemical Industries Co., Ltd
  • CO2 GRO Inc
  • E.I.D. - Parry (India) Limited
  • PIVEG, Inc
  • Atacama Bio Natural Products S.A
  • ENEOS Corporation

Table of Contents

1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Astaxanthin Market Overview
3.1 Global Astaxanthin Market Historical Value (2016-2022)
3.2 Global Astaxanthin Market Forecast Value (2023-2031)
4 Global Astaxanthin Market Landscape
4.1 Global Astaxanthin Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Astaxanthin Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Source
4.2.3 Analysis by Applications
5 Global Astaxanthin Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Astaxanthin Market Segmentation
6.1 Global Astaxanthin Market by Product
6.1.1 Market Overview
6.1.2 Dried Algae Meal or Biomass
6.1.3 Oil
6.1.4 Soft gel
6.1.5 Liquid
6.1.6 Others
6.2 Global Astaxanthin Market by Source
6.2.1 Market Overview
6.2.2 Natural Yeast Krill/Shrimp Microalgae Others
6.2.3 Synthetic
6.3 Global Astaxanthin Market by Application
6.3.1 Market Overview
6.3.2 Aquaculture and animal feed
6.3.3 Nutraceuticals
6.3.4 Cosmetics
6.3.5 Food and Beverages
6.3.6 Others
6.4 Global Astaxanthin Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Astaxanthin Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Astaxanthin Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Astaxanthin Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.6 Australia
9.7 Others
10 Latin America Astaxanthin Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Astaxanthin Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Clinical Trials Analysis
14.1 Analysis by Trial Registration Year
14.2 Analysis by Trial Status
14.3 Analysis by Trial Phase
14.4 Analysis by Therapeutic Area
14.5 Analysis by Geography
15 Funding Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Regulatory Framework
17.1 Regulatory Overview
17.1.1 US FDA
17.1.2 EU EMA
17.1.5 Others
18 Supplier Landscape
18.1 Algatech Ltd
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 Cyanotech Corporation.
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 MicroA
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Beijing Gingko Group (BGG)
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Algalíf Iceland ehf
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Fuji Chemical Industries Co., Ltd.
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 CO2 GRO Inc.
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 E.I.D. - Parry (India) Limited
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 PIVEG, Inc.
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Atacama Bio Natural Products S.A
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
18.11 ENEOS Corporation
18.11.1 Financial Analysis
18.11.2 Product Portfolio
18.11.3 Demographic Reach and Achievements
18.11.4 Mergers and Acquisitions
18.11.5 Certifications
19 Global Astaxanthin Market- Distribution Model (Additional Insight)
19.1 Overview
19.2 Potential Distributors
19.3 Key Parameters for Distribution Partner Assessment
20 Key Opinion Leaders (KOL) Insights (Additional Insight)
21 Company Competitiveness Analysis (Additional Insight)
21.1 Very Small Companies
21.2 Small Companies
21.3 Mid-Sized Companies
21.4 Large Companies
21.5 Very Large Companies
22 Payment Methods (Additional Insight)
22.1 Government Funded
22.2 Private Insurance
22.3 Out-of-Pocket

Companies Mentioned

  • Algatech Ltd
  • Cyanotech Corporation.
  • Microa
  • Beijing Gingko Group (Bgg)
  • Algalíf Iceland Ehf
  • Fuji Chemical Industries Co. Ltd.
  • Co2 Gro Inc.
  • E.I.D. – Parry (India) Limited
  • Piveg, Inc.
  • Atacama Bio Natural Products S.A
  • Eneos Corporation



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