Astaxanthin Market By Source (Natural, Synthetic) , By Form (Dry, Liquid) By Application (Dietary supplements, Cosmetics, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

Description

Astaxanthin Market

The astaxanthin market was valued at $0.8 billion in 2023 and is projected to reach $1.6 billion by 2033, growing at a CAGR of 8.1% from 2024 to 2033.

Astaxanthin is a red-colored pigment that belongs to the category of xanthophyll carotenoid and is present in several microorganisms and marine organisms. Astaxanthin is known for its antioxidant properties and aids in the protection of cells from free radicals. The compound is consumed in the form of supplements to enhance the health of brain, eyes, & skin; regulate high cholesterol levels; and support the immune system. Moreover, astaxanthin is used in the aquaculture industry to integrate pigmentation into farmed trout, salmons, and shrimps. This process elevates the appearance of aquaculture products and enhances their market value.

Increase in awareness regarding fit lifestyle and importance of health supplements is a significant driver of the astaxanthin market. In addition, astaxanthin is a natural product due to which it witnesses a high demand from the supplements and cosmetics industries, owing to surge in inclination toward organic or natural products. In the coming future, the trend of utilizing astaxanthin in crop production is anticipated to acquire notable traction. As per an article published by SpringerLink, a scientific portfolio, application of astaxanthin into rice seedlings eliminates their oxidative stress, regulates their homeostatic balance, and boosts their tolerance toward salinity.

However, the potential risk of side effects, such as disturbances in digestive system, due to high dosage of astaxanthin deters several individuals from its consumption and hampers the growth of the market. Furthermore, the extraction of astaxanthin from natural resources is gradually resulting in the depletion of microalgae and other marine organisms. This factor discourages the use of astaxanthin in diverse applications. Contrarily, to address the challenge of resource depletion, several microalgae-producing enterprises have been established across the globe to shift the production of astaxanthin into laboratories. As of September 2022, the European Commission identified 87 enterprises in 17 countries of Europe. These enterprises cultivate the astaxanthin-producing microalgae using photobioreactors. The extraction of astaxanthin from these cultured microalgae offers several benefits such as decreased environmental pollution, availability of scalability opportunities, and reduced exploitation of natural resources.

Segment Review

The astaxanthin market is divided into source, form, application, and region. On the basis of source, the market is bifurcated into natural and synthetic. As per form, it is divided into dry and liquid. Depending on application, it is classified into dietary supplements, cosmetics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

On the basis of source, the natural segment dominated the market in 2023.

As per form, the dry segment acquired a high stake in the market in 2023.

Depending on application, the dietary supplements segment is projected to account for a high share of the market by 2033.

Region wise, North America was the highest revenue generator in 2023.

Competition Analysis

The key players operating in the global astaxanthin market include INNOBIO Limited, Divis Laboratories Limited, Algaecan Biotech, ALGA Technologies, Cyanotech Corporation., Otsuka Pharmaceutical Co., Cardax, Fenchem, BGG, and Fuji Chemical Industries Company Limited. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.

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Patient/epidemiology data at country, region, global level
Regulatory Guidelines
Additional company profiles with specific to client's interest
Expanded list for Company Profiles
Historic market data
SWOT Analysis

Key Market Segments

By Source

Natural
Synthetic

By Form

Dry
Liquid

By Application

Dietary supplements
Cosmetics
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA

Key Market Players:

INNOBIO Limited
Divis Laboratories Limited
Algaecan Biotech
ALGA Technologies
Cyanotech Corporation.
Otsuka Pharmaceutical Co.
Cardax
Fenchem
BGG
Fuji Chemical Industries Company Limited

Product Code: A324369

CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
- 1.4.1. Primary Research
- 1.4.2. Secondary Research
- 1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
- 3.2.1. Top Investment Pockets
- 3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
- 3.3.1. Bargaining Power of Suppliers
- 3.3.2. Threat of New Entrants
- 3.3.3. Threat of Substitutes
- 3.3.4. Competitive Rivalry
- 3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities

CHAPTER 4: ASTAXANTHIN MARKET, BY SOURCE

4.1. Market Overview
- 4.1.1 Market Size and Forecast, By Source
4.2. Natural
- 4.2.1. Key Market Trends, Growth Factors and Opportunities
- 4.2.2. Market Size and Forecast, By Region
- 4.2.3. Market Share Analysis, By Country
4.3. Synthetic
- 4.3.1. Key Market Trends, Growth Factors and Opportunities
- 4.3.2. Market Size and Forecast, By Region
- 4.3.3. Market Share Analysis, By Country

CHAPTER 5: ASTAXANTHIN MARKET, BY FORM

5.1. Market Overview
- 5.1.1 Market Size and Forecast, By Form
5.2. Dry
- 5.2.1. Key Market Trends, Growth Factors and Opportunities
- 5.2.2. Market Size and Forecast, By Region
- 5.2.3. Market Share Analysis, By Country
5.3. Liquid
- 5.3.1. Key Market Trends, Growth Factors and Opportunities
- 5.3.2. Market Size and Forecast, By Region
- 5.3.3. Market Share Analysis, By Country

CHAPTER 6: ASTAXANTHIN MARKET, BY APPLICATION

6.1. Market Overview
- 6.1.1 Market Size and Forecast, By Application
6.2. Dietary Supplements
- 6.2.1. Key Market Trends, Growth Factors and Opportunities
- 6.2.2. Market Size and Forecast, By Region
- 6.2.3. Market Share Analysis, By Country
6.3. Cosmetics
- 6.3.1. Key Market Trends, Growth Factors and Opportunities
- 6.3.2. Market Size and Forecast, By Region
- 6.3.3. Market Share Analysis, By Country
6.4. Others
- 6.4.1. Key Market Trends, Growth Factors and Opportunities
- 6.4.2. Market Size and Forecast, By Region
- 6.4.3. Market Share Analysis, By Country

CHAPTER 7: ASTAXANTHIN MARKET, BY REGION

7.1. Market Overview
- 7.1.1 Market Size and Forecast, By Region
7.2. North America
- 7.2.1. Key Market Trends and Opportunities
- 7.2.2. Market Size and Forecast, By Source
- 7.2.3. Market Size and Forecast, By Form
- 7.2.4. Market Size and Forecast, By Application
- 7.2.5. Market Size and Forecast, By Country
- 7.2.6. U.S. Astaxanthin Market
  - 7.2.6.1. Market Size and Forecast, By Source
  - 7.2.6.2. Market Size and Forecast, By Form
  - 7.2.6.3. Market Size and Forecast, By Application
- 7.2.7. Canada Astaxanthin Market
  - 7.2.7.1. Market Size and Forecast, By Source
  - 7.2.7.2. Market Size and Forecast, By Form
  - 7.2.7.3. Market Size and Forecast, By Application
- 7.2.8. Mexico Astaxanthin Market
  - 7.2.8.1. Market Size and Forecast, By Source
  - 7.2.8.2. Market Size and Forecast, By Form
  - 7.2.8.3. Market Size and Forecast, By Application
7.3. Europe
- 7.3.1. Key Market Trends and Opportunities
- 7.3.2. Market Size and Forecast, By Source
- 7.3.3. Market Size and Forecast, By Form
- 7.3.4. Market Size and Forecast, By Application
- 7.3.5. Market Size and Forecast, By Country
- 7.3.6. France Astaxanthin Market
  - 7.3.6.1. Market Size and Forecast, By Source
  - 7.3.6.2. Market Size and Forecast, By Form
  - 7.3.6.3. Market Size and Forecast, By Application
- 7.3.7. Germany Astaxanthin Market
  - 7.3.7.1. Market Size and Forecast, By Source
  - 7.3.7.2. Market Size and Forecast, By Form
  - 7.3.7.3. Market Size and Forecast, By Application
- 7.3.8. Italy Astaxanthin Market
  - 7.3.8.1. Market Size and Forecast, By Source
  - 7.3.8.2. Market Size and Forecast, By Form
  - 7.3.8.3. Market Size and Forecast, By Application
- 7.3.9. Spain Astaxanthin Market
  - 7.3.9.1. Market Size and Forecast, By Source
  - 7.3.9.2. Market Size and Forecast, By Form
  - 7.3.9.3. Market Size and Forecast, By Application
- 7.3.10. UK Astaxanthin Market
  - 7.3.10.1. Market Size and Forecast, By Source
  - 7.3.10.2. Market Size and Forecast, By Form
  - 7.3.10.3. Market Size and Forecast, By Application
- 7.3.11. Rest of Europe Astaxanthin Market
  - 7.3.11.1. Market Size and Forecast, By Source
  - 7.3.11.2. Market Size and Forecast, By Form
  - 7.3.11.3. Market Size and Forecast, By Application
7.4. Asia-Pacific
- 7.4.1. Key Market Trends and Opportunities
- 7.4.2. Market Size and Forecast, By Source
- 7.4.3. Market Size and Forecast, By Form
- 7.4.4. Market Size and Forecast, By Application
- 7.4.5. Market Size and Forecast, By Country
- 7.4.6. China Astaxanthin Market
  - 7.4.6.1. Market Size and Forecast, By Source
  - 7.4.6.2. Market Size and Forecast, By Form
  - 7.4.6.3. Market Size and Forecast, By Application
- 7.4.7. Japan Astaxanthin Market
  - 7.4.7.1. Market Size and Forecast, By Source
  - 7.4.7.2. Market Size and Forecast, By Form
  - 7.4.7.3. Market Size and Forecast, By Application
- 7.4.8. India Astaxanthin Market
  - 7.4.8.1. Market Size and Forecast, By Source
  - 7.4.8.2. Market Size and Forecast, By Form
  - 7.4.8.3. Market Size and Forecast, By Application
- 7.4.9. South Korea Astaxanthin Market
  - 7.4.9.1. Market Size and Forecast, By Source
  - 7.4.9.2. Market Size and Forecast, By Form
  - 7.4.9.3. Market Size and Forecast, By Application
- 7.4.10. Australia Astaxanthin Market
  - 7.4.10.1. Market Size and Forecast, By Source
  - 7.4.10.2. Market Size and Forecast, By Form
  - 7.4.10.3. Market Size and Forecast, By Application
- 7.4.11. Rest of Asia-Pacific Astaxanthin Market
  - 7.4.11.1. Market Size and Forecast, By Source
  - 7.4.11.2. Market Size and Forecast, By Form
  - 7.4.11.3. Market Size and Forecast, By Application
7.5. LAMEA
- 7.5.1. Key Market Trends and Opportunities
- 7.5.2. Market Size and Forecast, By Source
- 7.5.3. Market Size and Forecast, By Form
- 7.5.4. Market Size and Forecast, By Application
- 7.5.5. Market Size and Forecast, By Country
- 7.5.6. Brazil Astaxanthin Market
  - 7.5.6.1. Market Size and Forecast, By Source
  - 7.5.6.2. Market Size and Forecast, By Form
  - 7.5.6.3. Market Size and Forecast, By Application
- 7.5.7. South Africa Astaxanthin Market
  - 7.5.7.1. Market Size and Forecast, By Source
  - 7.5.7.2. Market Size and Forecast, By Form
  - 7.5.7.3. Market Size and Forecast, By Application
- 7.5.8. Saudi Arabia Astaxanthin Market
  - 7.5.8.1. Market Size and Forecast, By Source
  - 7.5.8.2. Market Size and Forecast, By Form
  - 7.5.8.3. Market Size and Forecast, By Application
- 7.5.9. Rest of LAMEA Astaxanthin Market
  - 7.5.9.1. Market Size and Forecast, By Source
  - 7.5.9.2. Market Size and Forecast, By Form
  - 7.5.9.3. Market Size and Forecast, By Application

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023

CHAPTER 9: COMPANY PROFILES

9.1. INNOBIO Limited
- 9.1.1. Company Overview
- 9.1.2. Key Executives
- 9.1.3. Company Snapshot
- 9.1.4. Operating Business Segments
- 9.1.5. Product Portfolio
- 9.1.6. Business Performance
- 9.1.7. Key Strategic Moves and Developments
9.2. Divis Laboratories Limited
- 9.2.1. Company Overview
- 9.2.2. Key Executives
- 9.2.3. Company Snapshot
- 9.2.4. Operating Business Segments
- 9.2.5. Product Portfolio
- 9.2.6. Business Performance
- 9.2.7. Key Strategic Moves and Developments
9.3. Algaecan Biotech
- 9.3.1. Company Overview
- 9.3.2. Key Executives
- 9.3.3. Company Snapshot
- 9.3.4. Operating Business Segments
- 9.3.5. Product Portfolio
- 9.3.6. Business Performance
- 9.3.7. Key Strategic Moves and Developments
9.4. ALGA Technologies
- 9.4.1. Company Overview
- 9.4.2. Key Executives
- 9.4.3. Company Snapshot
- 9.4.4. Operating Business Segments
- 9.4.5. Product Portfolio
- 9.4.6. Business Performance
- 9.4.7. Key Strategic Moves and Developments
9.5. Cyanotech Corporation.
- 9.5.1. Company Overview
- 9.5.2. Key Executives
- 9.5.3. Company Snapshot
- 9.5.4. Operating Business Segments
- 9.5.5. Product Portfolio
- 9.5.6. Business Performance
- 9.5.7. Key Strategic Moves and Developments
9.6. Otsuka Pharmaceutical Co.
- 9.6.1. Company Overview
- 9.6.2. Key Executives
- 9.6.3. Company Snapshot
- 9.6.4. Operating Business Segments
- 9.6.5. Product Portfolio
- 9.6.6. Business Performance
- 9.6.7. Key Strategic Moves and Developments
9.7. Cardax
- 9.7.1. Company Overview
- 9.7.2. Key Executives
- 9.7.3. Company Snapshot
- 9.7.4. Operating Business Segments
- 9.7.5. Product Portfolio
- 9.7.6. Business Performance
- 9.7.7. Key Strategic Moves and Developments
9.8. Fenchem
- 9.8.1. Company Overview
- 9.8.2. Key Executives
- 9.8.3. Company Snapshot
- 9.8.4. Operating Business Segments
- 9.8.5. Product Portfolio
- 9.8.6. Business Performance
- 9.8.7. Key Strategic Moves and Developments
9.9. BGG
- 9.9.1. Company Overview
- 9.9.2. Key Executives
- 9.9.3. Company Snapshot
- 9.9.4. Operating Business Segments
- 9.9.5. Product Portfolio
- 9.9.6. Business Performance
- 9.9.7. Key Strategic Moves and Developments
9.10. Fuji Chemical Industries Company Limited
- 9.10.1. Company Overview
- 9.10.2. Key Executives
- 9.10.3. Company Snapshot
- 9.10.4. Operating Business Segments
- 9.10.5. Product Portfolio
- 9.10.6. Business Performance
- 9.10.7. Key Strategic Moves and Developments