Astaxanthin Market Forecasts to 2028 – Global Analysis By Product (Powder, Tablet), Application (Pharmaceuticals, Personal Care & Cosmetics, Food & Beverage, Animal Feed) and By Geography
According to Stratistics MRC, the Global Astaxanthin Market is accounted for $695.94 million in 2020 and is expected to reach $1,356.47 million by 2028 growing at a CAGR of 8.7% during the forecast period. Factors such as increasing demand for cosmetic products, growing preference for dietary supplements, increasing prevalence of diabetes and cardiovascular diseases are driving the growth of the market. However, stringent guidelines regarding the product usage in various human consumption products are hampering the growth of the market.
Astaxanthin is a reddish keto carotenoid pigment that occurs in microalgae, yeast, trout, shrimp, and other sea creatures. It is regarded as a potential antioxidant that has proven its ability to protect human cells from inflammation and oxidation. It is over 500 times stronger than vitamin E and is much more effective than other carotenoids such as lutein and lycopene.
Based on the source, the natural source segment is going to have a lucrative growth during the forecast period owing to the increasing demand for natural food supplements coupled with the high yield of carotenoids. By geography, Asia Pacific is expected to grow at a faster rate during the forecast period due to the growing awareness about astaxanthin among healthcare professionals and the existence of a large population suffering from nutritional deficiency.
Some of the key players profiled in the Astaxanthin Market include BASF SE, Fuji Chemical Industries Co Ltd, Koninklijke DSM N.V., Cyanotech Corporation, Divis Laboratories Ltd, Otsuka Pharmaceutical Co Ltd, Algatechnologies, Valensa International, Supreme Biotechnologies, Igene Biotechnology Inc, AstaReal, Piveg Inc, Cardax Inc, Beijing Ginko Group (BGG), and Fenchem Biotek Ltd.
• Natural Source
• Petroleum (Synthetic)
• < 94%
• > 98%
Methods of Production Covered:
• Bacterial Fermentation
• Chemical Synthesis
• Dried Algae Meal or Biomass
• Carotenoid Complexes
• Oil or Oleoresin
• Soft Gel
• Energy Drinks
• Personal Care & Cosmetics
• Food & Beverage
• Animal Feed
• General Wellbeing
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.