PUBLISHER: IMARC | PRODUCT CODE: 1541585
PUBLISHER: IMARC | PRODUCT CODE: 1541585
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 2024-2032
The global astaxanthin market size reached US$ 815.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,548.5 Million by 2032, exhibiting a growth rate (CAGR) of 7.2% during 2024-2032.
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 levels from 2024-2032. 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
Breakup by Application:
Breakup by Region:
Competitive Landscape:
Key Questions Answered in This Report
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
3 Executive Summary
4 Introduction
5 Global Astaxanthin Market
6 Market Breakup by Source
7 Market Breakup by Product
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
List of Figures
- Figure 1: Global: Astaxanthin Market: Major Drivers and Challenges
- Figure 2: Global: Astaxanthin Market: Sales Value (in Million US$), 2018-2023
- Figure 3: Global: Astaxanthin Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 4: Global: Astaxanthin Market: Breakup by Source (in %), 2023
- Figure 5: Global: Astaxanthin Market: Breakup by Product (in %), 2023
- Figure 6: Global: Astaxanthin Market: Breakup by Application (in %), 2023
- Figure 7: Global: Astaxanthin Market: Breakup by Region (in %), 2023
- Figure 8: Global: Astaxanthin (Natural) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Astaxanthin (Natural) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Astaxanthin (Synthetic) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Astaxanthin (Synthetic) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Astaxanthin (Dried Algae Meal or Biomass) Market: Sales Value (in Million US$), 2018 & 2023
List of Tables
