Market Analysis and Insights: Global Astaxanthin Market

Astaxanthin is a naturally occurring dark red carotenoid found in nature primarily in aquatic animals such as salmon, trout, krill, shrimp, crayfish, and crustaceans. Astaxanthin is more than just a red pigment, it is one of the most powerful lipophilic antioxidants yet discovered. It has the unique capacity to quench free radicals and reactive species of oxygen and to inhibit lipid peroxidation. Studies have shown natural astaxanthin to be over 500 times stronger than vitamin E and much more potent than other carotenoids such as lutein, lycopene and β-carotene. Moreover, Astaxanthin a xanthophyll carotenoid, is a nutrient with a unique molecule structure, it does not convert to vitamin a (retinol) and has no “pro-oxidant” activity.

Due to the COVID-19 pandemic, the global Astaxanthin market size is estimated to be worth US$ 121.2 million in 2022 and is forecast to a readjusted size of US$ 200.2 million by 2029 with a CAGR of 7.6% during the forecast period 2023-2029. Fully considering the economic change by this health crisis, 2% Astaxanthin Powder accounting for % of the Astaxanthin global market in 2022, is projected to value US$ million by 2029, growing at a revised % CAGR from 2023 to 2029. While Feed segment is altered to an % CAGR throughout this forecast period.

The major players in global astaxanthin market include DSM, BASF, Zhejiang NHU, etc. The top 5 players occupy about 65% shares of the global market. Asia-Pacific is main market, which occupies about 40% of the global market. Synthetic astaxanthin is the main type, with a share about 36%. Feed is the main application, which holds a share about 45%.

Global Astaxanthin Scope and Market Size

The global Astaxanthin market is segmented by company, region (country), type and application. Players, stakeholders, and other participants in the global Astaxanthin market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), type and application for the period 2018-2029.


Segment by Type


2% Astaxanthin Powder

3% Astaxanthin Powder

5% Astaxanthin Powder

10% Astaxanthin Powder

20% Astaxanthin Powder

5% Astaxanthin Oleoresin

10% Astaxanthin Oleoresin

Other Natural Astaxanthin

Synthetic Astaxanthin


Segment by Application


Feed

Nutraceuticals

Cosmetics

Food & Beverages

Others

By Region

United States

Europe

China

Japan

Southeast Asia

India

Other Regions


By Company


DSM

Cyanotech Corporation

Fuji Chemical Industries Co., Ltd.

BASF

Divi's Laboratories Limited

BGG

Zhejiang NHU Company Ltd.

Yunnan Alphy Biotech Co., Ltd.

ENEOS Corporation

Jingzhou Natural Astaxanthin, Inc.

Parry Nutraceuticals

AlgaTechnologies Ltd.

Biogenic Co., Ltd.

Nextperm Technologies Ltd.