PUBLISHER: IMARC | PRODUCT CODE: 1379091
PUBLISHER: IMARC | PRODUCT CODE: 1379091
Astaxanthin Market Report by Source (Natural, Synthetic), Product (Dried Algae Meal or Biomass, Oil, Softgel, Liquid, and Others), Application (Nutraceuticals, Cosmetics, Aquaculture and Animal Feed, and Others), and Region 2023-2028
Abstract
The global astaxanthin market size reached US$ 754.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,209.9 Million by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2022-2028.
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 report, along with forecasts at the global, regional and country level from 2023-2028. 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(Societe La Biochimie Appliquee 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.
Key Questions Answered in This Report
- 1. What was the size of the global astaxanthin market in 2022?
- 2. What is the expected growth rate of the global astaxanthin market during 2023-2028?
- 3. What are the key factors driving the global astaxanthin market?
- 4. What has been the impact of COVID-19 on the global astaxanthin market?
- 5. What is the breakup of the global astaxanthin market based on the source?
- 6. What is the breakup of the global astaxanthin market based on the product?
- 7. What is the breakup of the global astaxanthin market based on the application?
- 8. What are the key regions in the global astaxanthin market?
- 9. Who are the key players/companies in the global astaxanthin market?
Table of Contents
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
- 9.1.1 United States
- 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
- 9.2.1 China
- 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
- 9.3.1 Germany
- 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
- 9.4.1 Brazil
- 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(Societe La Biochimie Appliquee 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
- 14.3.1 Algatech LTD(Societe La Biochimie Appliquee SA)
List of Figures
- Figure 1: Global: Astaxanthin Market: Major Drivers and Challenges
- Figure 2: Global: Astaxanthin Market: Sales Value (in Million US$), 2017-2022
- Figure 3: Global: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 4: Global: Astaxanthin Market: Breakup by Source (in %), 2022
- Figure 5: Global: Astaxanthin Market: Breakup by Product (in %), 2022
- Figure 6: Global: Astaxanthin Market: Breakup by Application (in %), 2022
- Figure 7: Global: Astaxanthin Market: Breakup by Region (in %), 2022
- Figure 8: Global: Astaxanthin (Natural) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Astaxanthin (Natural) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Astaxanthin (Synthetic) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Astaxanthin (Synthetic) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Astaxanthin (Dried Algae Meal or Biomass) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Astaxanthin (Dried Algae Meal or Biomass) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Astaxanthin (Oil) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Astaxanthin (Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Astaxanthin (Softgel) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Astaxanthin (Softgel) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Astaxanthin (Liquid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Astaxanthin (Liquid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Astaxanthin (Other Products) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Astaxanthin (Other Products) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Astaxanthin (Nutraceuticals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Astaxanthin (Nutraceuticals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Astaxanthin (Cosmetics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Astaxanthin (Cosmetics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Astaxanthin (Aquaculture and Animal Feed) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Astaxanthin (Aquaculture and Animal Feed) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Astaxanthin (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Astaxanthin (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: North America: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: North America: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: United States: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: United States: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Canada: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Canada: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Asia-Pacific: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Asia-Pacific: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: China: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: China: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Japan: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Japan: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: India: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: India: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: South Korea: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: South Korea: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Australia: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Australia: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Indonesia: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Indonesia: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Others: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Others: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Europe: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Europe: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Germany: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Germany: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: France: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: France: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: United Kingdom: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: United Kingdom: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Italy: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Italy: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Spain: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Spain: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Russia: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Russia: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Others: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Others: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Latin America: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Latin America: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Brazil: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Brazil: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Mexico: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Mexico: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Others: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Others: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Middle East and Africa: Astaxanthin Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Middle East and Africa: Astaxanthin Market: Breakup by Country (in %), 2022
- Figure 78: Middle East and Africa: Astaxanthin Market Forecast: Sales Value (in Million US$), 2023-2028
- 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, 2022 and 2028
- Table 2: Global: Astaxanthin Market Forecast: Breakup by Source (in Million US$), 2023-2028
- Table 3: Global: Astaxanthin Market Forecast: Breakup by Product (in Million US$), 2023-2028
- Table 4: Global: Astaxanthin Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Astaxanthin Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Astaxanthin Market: Competitive Structure
- Table 7: Global: Astaxanthin Market: Key Players
