#Astaxanthin Market Share

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Astaxanthin Market Share and Growth Information Analysis Report by 2030

The global astaxanthin market was valued at USD 2.34 billion in 2023, with a projected compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. This growth is driven by rising demand across multiple sectors, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages. Astaxanthin is particularly valued in aquaculture as a feed ingredient for prawns, salmon, trout, and ornamental fish to enhance their coloration, which increases their commercial appeal. Besides improving pigmentation, astaxanthin also contributes to enhanced stress tolerance, improved performance, immune support, reproductive health, increased survival rates, and disease resistance in aquatic animals. To meet this demand, major market players are focusing on product innovation and forming partnerships, especially in the aquaculture sector.

Organizations promoting awareness about astaxanthin’s applications further support market growth. The Natural Algae Astaxanthin Association (NAXA), for example, plays a significant role in advocating for natural astaxanthin, promoting its benefits across various industries, supporting research, and certifying products with the NAXA Verification Seal.

Gather more insights about the market drivers, restrains and growth of the Astaxanthin Market

To expand market reach, companies are leveraging strategies such as product launches and collaborations with leading firms in key industries. For example, in May 2022, Algalif partnered with Divi’s Nutraceuticals to launch AstaBeads, a high-concentration astaxanthin beadlet targeting sports nutrition and healthy aging applications. This collaboration is poised to boost market penetration of natural astaxanthin products. Furthermore, The Lubrizol Corporation introduced ASTAGILE microcapsules in October 2020 to promote cognitive health and agility for both young and elderly consumers.

In May 2022, Algalif and Divi’s Nutraceuticals collaborated on producing high-concentration natural astaxanthin beadlets. Based in Iceland, Algalif uses a renewable-energy-powered process to produce high-quality astaxanthin oleoresin from microalgae. Divi’s Nutraceuticals then applies its expertise in fat-soluble ingredients to transform this oleoresin into AstaBead beadlets, which contain a concentrated 5% astaxanthin. This partnership emphasizes both sustainability and premium product quality, showcasing a commitment to environmental stewardship and product excellence.

Application Segmentation Insights:

In 2023, the aquaculture and animal feed sector held the largest market share at 46.39%, primarily due to astaxanthin’s extensive use as a feed additive to enhance reddish pigmentation in species like salmon, trout, and shrimp, which is a key consumer preference. Astaxanthin oil also promotes better feed uptake, accelerating shrimp growth. The growing adoption of astaxanthin in the aquaculture sector to improve seafood quality supports this segment’s dominance in the market. Leading players are also launching new products with health benefits for animal feed. For instance, AstaReal introduced Novasta in July 2022, an astaxanthin-based ingredient for animal feed, expanding health-focused applications in animal nutrition.

The nutraceuticals segment is anticipated to experience the fastest CAGR during the forecast period, driven by increasing demand for natural astaxanthin in health supplements due to its superior antioxidant properties compared to other supplements. The rising need for nutritional products, alongside aging populations, nutrient deficiencies, and lifestyle-related health concerns, is boosting demand in this sector. Astaxanthin’s antioxidant benefits are linked to support against conditions like liver and oral cancers, cardiovascular diseases, and obesity. Thus, the growing prevalence of chronic and infectious diseases is expected to provide substantial growth opportunities for the nutraceuticals market.

Order a free sample PDF of the Astaxanthin Market Intelligence Study, published by Grand View Research.

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Astaxanthin Market - Recent Industry Developments and Growth Strategies till 2030

The global astaxanthin market was valued at USD 2.34 billion in 2023, with a projected compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. This growth is driven by rising demand across multiple sectors, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages. Astaxanthin is particularly valued in aquaculture as a feed ingredient for prawns, salmon, trout, and ornamental fish to enhance their coloration, which increases their commercial appeal. Besides improving pigmentation, astaxanthin also contributes to enhanced stress tolerance, improved performance, immune support, reproductive health, increased survival rates, and disease resistance in aquatic animals. To meet this demand, major market players are focusing on product innovation and forming partnerships, especially in the aquaculture sector.

Organizations promoting awareness about astaxanthin’s applications further support market growth. The Natural Algae Astaxanthin Association (NAXA), for example, plays a significant role in advocating for natural astaxanthin, promoting its benefits across various industries, supporting research, and certifying products with the NAXA Verification Seal.

Gather more insights about the market drivers, restrains and growth of the Astaxanthin Market

To expand market reach, companies are leveraging strategies such as product launches and collaborations with leading firms in key industries. For example, in May 2022, Algalif partnered with Divi’s Nutraceuticals to launch AstaBeads, a high-concentration astaxanthin beadlet targeting sports nutrition and healthy aging applications. This collaboration is poised to boost market penetration of natural astaxanthin products. Furthermore, The Lubrizol Corporation introduced ASTAGILE microcapsules in October 2020 to promote cognitive health and agility for both young and elderly consumers.

In May 2022, Algalif and Divi’s Nutraceuticals collaborated on producing high-concentration natural astaxanthin beadlets. Based in Iceland, Algalif uses a renewable-energy-powered process to produce high-quality astaxanthin oleoresin from microalgae. Divi’s Nutraceuticals then applies its expertise in fat-soluble ingredients to transform this oleoresin into AstaBead beadlets, which contain a concentrated 5% astaxanthin. This partnership emphasizes both sustainability and premium product quality, showcasing a commitment to environmental stewardship and product excellence.

Application Segmentation Insights:

In 2023, the aquaculture and animal feed sector held the largest market share at 46.39%, primarily due to astaxanthin’s extensive use as a feed additive to enhance reddish pigmentation in species like salmon, trout, and shrimp, which is a key consumer preference. Astaxanthin oil also promotes better feed uptake, accelerating shrimp growth. The growing adoption of astaxanthin in the aquaculture sector to improve seafood quality supports this segment’s dominance in the market. Leading players are also launching new products with health benefits for animal feed. For instance, AstaReal introduced Novasta in July 2022, an astaxanthin-based ingredient for animal feed, expanding health-focused applications in animal nutrition.

The nutraceuticals segment is anticipated to experience the fastest CAGR during the forecast period, driven by increasing demand for natural astaxanthin in health supplements due to its superior antioxidant properties compared to other supplements. The rising need for nutritional products, alongside aging populations, nutrient deficiencies, and lifestyle-related health concerns, is boosting demand in this sector. Astaxanthin’s antioxidant benefits are linked to support against conditions like liver and oral cancers, cardiovascular diseases, and obesity. Thus, the growing prevalence of chronic and infectious diseases is expected to provide substantial growth opportunities for the nutraceuticals market.

Order a free sample PDF of the Astaxanthin Market Intelligence Study, published by Grand View Research.

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Astaxanthin Market Segmentation and Competitive Analysis Report 2024 - 2030

The global astaxanthin market size was valued at USD 2.34 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. 

Growing demand for astaxanthin is being fueled by its increasing use in various industries, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages, among others. It is widely used as a food ingredient for prawns and fishes such as salmon, trout, & ornamental fishes to enhance their coloration and increase commercial value. Other benefits for aquatic animals include growth in stress tolerance, performance, immune-related gene expressions, reproductive capacity, improvement in survival, and disease resistance. Major players are focusing on new product developments and collaborative agreements to meet the increasing demand for astaxanthin in aquaculture.

Additionally, presence of organizations that actively promote awareness regarding diverse applications of these products is expected to further drive market growth. For instance, the Natural Algae Astaxanthin Association (NAXA) plays a key role in promoting, protecting, and educating about the benefits of natural astaxanthin in various end-use applications.The association supports research related to natural astaxanthin and certifies products with NAXA Verification Seal.

Gather more insights about the market drivers, restrains and growth of the Astaxanthin Market

Astaxanthin Market Report Highlights

• Based on product, the dried algae meal or biomass segment accounted for the largest share in 2023 due to the high usage as animal feed and lower cost of production

• The aquaculture & animal feed segment was the highest revenue contributor in 2023. Whereas, the nutraceuticals segment is expected to exhibit the fastest CAGR during the projected period

• The Asia Pacific region is expected to grow at the fastest rate over the forecast period due to the rising investments by market players and increasing research activities in the region

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

• The global antiarrhythmic drugs market size was valued at USD 1.05 billion in 2023 and is projected to grow at a CAGR of 6.4% from 2024 to 2030. 

• The global amyloidosis treatment market size was valued at USD 5.39 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030.

Astaxanthin Market Segmentation

Grand View Research has segmented the global astaxanthin market on the basis of source, product, application, and region

Astaxanthin Source Outlook (Revenue, USD Million, 2018 - 2030) (Volumein Metric Tonnes)

• Natural

o Yeast

o Krill/Shrimp

o Microalgae

o Others

• Synthetic

Astaxanthin Product Outlook (Revenue, USD Million, 2018 - 2030)

• Dried Algae Meal or Biomass

• Oil

• Softgel

• Liquid

• Others

Astaxanthin Application Outlook (Revenue, USD Million, 2018 - 2030)

• Nutraceuticals

• Cosmetics

• Aquaculture And Animal Feed

• Food

o Functional Foods And Beverages

o Other Traditional Food Manufacturing Applications

• Others

Astaxanthin Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o U.K.

o Germany

o France

o Italy

o Spain

o Russia

o Denmark

o Norway

o Sweden

• Asia Pacific

o Japan

o China

o India

o South Korea

o Australia

o Singapore

o Thailand

• Latin America

o Brazil

o Mexico

o Argentina

o Ecuador

• Middle East & Africa

o South Africa

o Saudi Arabia

o UAE

o Israel

o Kuwait

Order a free sample PDF of the Astaxanthin Market Intelligence Study, published by Grand View Research.

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Astaxanthin Market Size & Share | Statistics Report 2030

The global astaxanthin market reached a valuation of USD 2.34 billion in 2023, with projections indicating a compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. This growth is driven by a rising demand for astaxanthin across various industries, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages. Astaxanthin’s role in aquaculture is significant, where it is commonly used to enhance the coloration of species such as prawns, salmon, trout, and ornamental fish, increasing their market value. Additionally, astaxanthin offers numerous health benefits to aquatic animals, improving stress tolerance, performance, immune-related gene expression, reproductive capacity, survival rates, and disease resistance. To meet the rising demand in aquaculture, major industry players are focusing on product development and collaborative agreements.

Market growth is further supported by organizations that actively promote awareness of astaxanthin's diverse applications. For example, the Natural Algae Astaxanthin Association (NAXA) is influential in promoting, protecting, and educating the public on the benefits of natural astaxanthin across various industries. NAXA also supports relevant research and offers the NAXA Verification Seal to certify natural astaxanthin products.

To increase the penetration of natural astaxanthin-based products, companies are engaging in strategies such as new product launches and partnerships with influential players in related industries. For instance, Algalif partnered with Divi’s Nutraceuticals in May 2022 to release high-concentration astaxanthin beadlets called AstaBeads, targeting sports nutrition and healthy aging markets. Similarly, The Lubrizol Corporation launched ASTAGILE microcapsules in October 2020, focusing on enhancing cognitive and mental agility for both young and senior adults.

Gather more insights about the market drivers, restrains and growth of the Astaxanthin Market

The astaxanthin market showcases a high degree of innovation, with companies developing novel formulations and sustainable production methods. For example, Sirio Europe (SIRIO) revealed in August, 2023, its plan to introduce two new softgel products targeting the pharmaceutical sector during the CPHI Barcelona 2023 event.

The astaxanthin market is also characterized by a high level of merger and acquisition (M&A) activity by the leading players In January 2022, ENEOS Corporation disclosed its acquisition of Ecocert Inputs Attestation, a globally recognized certification organization. This strategic move strengthens ENEOS' position in the astaxanthin market, particularly for Panaferd-AX. The merger reflects the company's commitment to quality and international standards, contributing to the evolution of the industry.

Product Segmentation Insights:

In 2023, dried algae meal or biomass dominated the market with a share of 25.26%. This significant share is attributed to its applications in biomass production for other forms, such as capsules and tablets, minimal downstream processing, convenient bulk production, and a higher demand for use as animal feed. New product launches in the sector, such as Solabia-Algatech Nutrition Ltd’s AstaPure Arava gummies in October 2022, highlight the growing demand for algal astaxanthin. Additionally, in May 2022, Algalif collaborated with start-up company Marea to create a biodegradable coating using residual algae biomass. These advancements are anticipated to support growth in this segment over the forecast period.

The softgel segment is expected to experience strong growth in the coming years, as softgels are widely favored by consumers for their convenience and suitability for the geriatric population. Veggie softgels, derived from modified cornstarch and glycerin, are particularly popular among nutraceutical companies due to their plant-based origin and minimal side effects. Regulatory approvals are further boosting this segment; for example, in September 2021, NextFerm Technologies obtained regulatory approval in the U.S. to market Astaferm, an innovative antioxidant in oil form for softgels.

These factors collectively contribute to the expansion of the global astaxanthin market across various segments and applications.

Order a free sample PDF of the Astaxanthin Market Intelligence Study, published by Grand View Research.

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Astaxanthin Market – Industry Trends and Forecast Report 2030

The global astaxanthin market reached a valuation of USD 2.34 billion in 2023, with projections indicating a compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. This growth is driven by a rising demand for astaxanthin across various industries, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages. Astaxanthin’s role in aquaculture is significant, where it is commonly used to enhance the coloration of species such as prawns, salmon, trout, and ornamental fish, increasing their market value. Additionally, astaxanthin offers numerous health benefits to aquatic animals, improving stress tolerance, performance, immune-related gene expression, reproductive capacity, survival rates, and disease resistance. To meet the rising demand in aquaculture, major industry players are focusing on product development and collaborative agreements.

Market growth is further supported by organizations that actively promote awareness of astaxanthin's diverse applications. For example, the Natural Algae Astaxanthin Association (NAXA) is influential in promoting, protecting, and educating the public on the benefits of natural astaxanthin across various industries. NAXA also supports relevant research and offers the NAXA Verification Seal to certify natural astaxanthin products.

To increase the penetration of natural astaxanthin-based products, companies are engaging in strategies such as new product launches and partnerships with influential players in related industries. For instance, Algalif partnered with Divi’s Nutraceuticals in May 2022 to release high-concentration astaxanthin beadlets called AstaBeads, targeting sports nutrition and healthy aging markets. Similarly, The Lubrizol Corporation launched ASTAGILE microcapsules in October 2020, focusing on enhancing cognitive and mental agility for both young and senior adults.

Gather more insights about the market drivers, restrains and growth of the Astaxanthin Market

The astaxanthin market showcases a high degree of innovation, with companies developing novel formulations and sustainable production methods. For example, Sirio Europe (SIRIO) revealed in August, 2023, its plan to introduce two new softgel products targeting the pharmaceutical sector during the CPHI Barcelona 2023 event.

The astaxanthin market is also characterized by a high level of merger and acquisition (M&A) activity by the leading players In January 2022, ENEOS Corporation disclosed its acquisition of Ecocert Inputs Attestation, a globally recognized certification organization. This strategic move strengthens ENEOS' position in the astaxanthin market, particularly for Panaferd-AX. The merger reflects the company's commitment to quality and international standards, contributing to the evolution of the industry.

Product Segmentation Insights:

In 2023, dried algae meal or biomass dominated the market with a share of 25.26%. This significant share is attributed to its applications in biomass production for other forms, such as capsules and tablets, minimal downstream processing, convenient bulk production, and a higher demand for use as animal feed. New product launches in the sector, such as Solabia-Algatech Nutrition Ltd’s AstaPure Arava gummies in October 2022, highlight the growing demand for algal astaxanthin. Additionally, in May 2022, Algalif collaborated with start-up company Marea to create a biodegradable coating using residual algae biomass. These advancements are anticipated to support growth in this segment over the forecast period.

The softgel segment is expected to experience strong growth in the coming years, as softgels are widely favored by consumers for their convenience and suitability for the geriatric population. Veggie softgels, derived from modified cornstarch and glycerin, are particularly popular among nutraceutical companies due to their plant-based origin and minimal side effects. Regulatory approvals are further boosting this segment; for example, in September 2021, NextFerm Technologies obtained regulatory approval in the U.S. to market Astaferm, an innovative antioxidant in oil form for softgels.

These factors collectively contribute to the expansion of the global astaxanthin market across various segments and applications.

Order a free sample PDF of the Astaxanthin Market Intelligence Study, published by Grand View Research.

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Astaxanthin Market Size, Share, and Trends Report 2030

The global astaxanthin market reached a valuation of USD 2.34 billion in 2023, with projections indicating a compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. This growth is driven by a rising demand for astaxanthin across various industries, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages. Astaxanthin’s role in aquaculture is…

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Innovative Pet Care: Devan Patel's Natural Solutions

Devan Patel Pharmacist: For pharmacist Devan Patel, the entrepreneurial journey comes from a singular driving force – using the power of natural medicine to promote healing and well-being in both humans and their cherished animal companions. Over his two decades in pharmacy, Devan witnessed how traditional medications sometimes fell short, prompting him to explore alternative botanical therapies.

“I saw natural supplements truly transform my patients’ quality of life, especially those battling complex, multi-symptom conditions,” Devan recounts. “The limitations of mainstream healthcare inspired me to develop therapeutic nutraceuticals and plant-based compounds grounded in rigorous science.” 

This passion for innovative natural remedies led Devan to co-found Zen Nutrients, a company dedicated to creating pharmacist-doctor-formulated supplements backed by evidence-based research, such as The Everyday Liver Vitamin™ with Bergacyn® FF that aims to provide Fatty Liver Support & Liver Health Aid. As a devoted family man with a supportive wife and children, Devan strives to embody the same values of hard work, integrity, and compassion for others instilled in him by his parents.

“From a young age, my wonderful parents taught me the importance of diligence, honesty and genuinely caring about people’s wellbeing,” Devan shares. “Those lessons have guided me as a pharmacist and now as an entrepreneur developing natural health solutions.”

But Devan’s entrepreneurial drive extends far beyond just crafting supplements. It’s a higher calling rooted in family, community, and an unrelenting quest to solve unmet medical needs.

One of Devan’s latest co-developed product innovations is WoundVite® for Dogs – a veterinary mastermind formulation designed to promote healing, strengthen hip and joint health, and support recovery in dogs after surgery or injury.

Co-developed with a surgical veterinarian along with Devan’s pharmaceutical expertise, this product is a game changer in the dog pet industry, being the only product on the market that helps with wound healing, surgery recovery, while also serving as a supreme anti-inflammatory formula for hip and joint maintenance care.

After WoundVite® launched, Devan began hearing stories from dog owners who had given the supplement to their pets – often without their veterinarian’s knowledge about the natural product. To the owners’ surprise and delight, WoundVite® helped their dogs recover from injuries, surgeries and even strengthening their hip and joints in ways they hadn’t found with traditional medications and common dog supplements.

“As a lifelong dog lover who grew up adopting a dog, I’ve been able to see the challenges pet owners face. My own dog suffered from hip dysplasia associated with degenerative joint disease and osteoarthritis, leading me to witness firsthand the unmet need for effective solutions to help with their pain and suffering post surgery. It inspired me to create a product that could truly support our four-legged friends in their times of need,” Devan adds.

Masterfully blending 26 key vitamins, minerals, and herbs like glucosamine, MSM, turmeric, green lipped mussel, hemp seed, bovine collagen, vitamins E, zinc, and C, WoundVite® aims to aid in reducing inflammation, promoting wound recovery, and providing building blocks for the repair of cartilage, connective tissue, and joints. The innovative part is that it also contains a proprietary recovery blend of omega fatty acids, hyaluronic acid, grape seed extract, l-arginine, astaxanthin all co-formulated by a surgical veterinarian to optimize healing and recovery.

“Seeing the impact our science-backed, natural products have on improving lives is immensely gratifying,” Devan states. “It motivates me to keep innovating so we can overcome seemingly intractable health issues across all species.”

While a work in progress, Devan’s ultimate vision along with her core team is for Zen Nutrients’ therapeutic nutraceutical line – including WoundVite® for pets – to be carried by major retailers.

With botanical innovations, integrity, and a passion for preventing and managing chronic conditions, Devan Patel and Zen Nutrients are pioneering the future of integrative health. By synergizing pharmaceutical science with the wisdom of natural medicine, this “pharmapreneur” is pioneering a path forward for the wellness of millions across all species.

Reference link: https://nyweekly.com/business/pharmapreneur-devan-patel-natural-solutions-for-pets/

[foodandbeverages]

Astaxanthin Market: Applications and Regional Insights During the Forecasted Period 2024 to 2034

According to Future Market Insights (FMI), global astaxanthin sales are estimated to be worth USD 273.2 million in 2024. The market is expected to reach USD 665.0 million by 2034. It is projected to surge at a CAGR of 9.3% in the forecast period 2024 to 2034.

Astaxanthin’s increasing demand is driven by its use in aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food & beverages industries. It is widely used as a food ingredient for prawns and fish to enhance coloration and commercial value.

Astaxanthin benefits aquatic animals by increasing stress tolerance, performance, immune-related gene expressions, reproductive capacity, survival, and disease resistance. The market is expected to rise due to the consistent demand from the food industry, where astaxanthin is used as a food additive due to its health benefits, such as anti-inflammatory effects and prevention of cardiovascular diseases. Studies have shown that astaxanthin is set to prevent photo-aging, improve sleep, minimize obesity, protect the vocal cord, combat depression, and increase sperm motility.

Natural alternatives are gaining traction due to a number of factors, including greater awareness of the harmful effects of chemicals and expanding usage of synthetic ingredients in topical & culinary items. As a result, leading companies are implementing tactics, including the introduction of new products and alliances with key manufacturers in several sectors to boost the market share of natural astaxanthin-based products.

Information Source: https://www.futuremarketinsights.com/reports/astaxanthin-market

Key Takeaways from the Astaxanthin Market Report:

The global astaxanthin market is expected to reach a valuation of US$ 665.0 million by 2034.

Japan is projected to hold a dominant value share of 3.5% by 2034.

The United States astaxanthin market is projected to reach a valuation of US$ 177.6 million by 2034.

India’s astaxanthin market is projected to reach US$ 43.0 million by 2034.

Germany is set to hold a dominant value share of 4.1% by 2034.

 “The astaxanthin market is experiencing innovation as dietary lutein becomes a potential substitute in the market. Leading companies are incorporating lutein-rich sources into formulations, highlighting a trend toward diversification. They are also exploring alternative natural compounds.” – says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

BASF SE, Divi’s Laboratories Ltd., Cyanotech Corporation, DSM N.V., Parry Nutraceuticals, and JXTG Nippon Oil & Energy Corporation are key astaxanthin manufacturers listed in the report. Leading companies are concentrating on broadening their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market.

For instance,

In 2020, BGG declared two key extensions of its farm capacity of astaxanthin as the company has seen a surge in its astaxanthin sales lately.

Key Companies Profiled

BASF SE

Divi’s Laboratories Ltd.

Cyanotech Corporation

DSM N.V

Parry Nutraceuticals

JXTG Nippon Oil & Energy Corporation

Fuji Chemical Industries Co., Ltd.

Kunming Biogenic Co., Ltd.

Valensa International Global

Kailu Ever Brilliance Biotechnology Co. Ltd.

Algalif Iceland Ehf

Zhejiang NHU Co., Ltd.

Atacama Bio Natural Products S.A., Inc.

AstaReal Inc

Fenchem Biotek Ltd.

Igene Biotechnology, Inc.

BGG (Beijing Gingko Group)

Cardax, Inc.

Algatechnologies Ltd.

Algaecan Biotech Ltd.

Otsuka Pharmaceutical Co., Ltd.

Yunnan Alphy Biotech Co., Ltd.

INNOBIO Corporation Limited.

Sinoway Industrial Co., Ltd.

KDI Ingredients

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global astaxanthin market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.

The study incorporates compelling insights on the astaxanthin market based on species type (haematococcus pluvialis, chlorococcum, chlorella zofingiensis), production technology (chemical synthesis, natural extraction), form (tablets, soft gel capsules, powder, liquid), grade (>=98%, 95%-97%, <=94%), application (aquaculture, dietary supplements, food & beverages, personal care & cosmetics, pet food), and region.

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Carotenoids Market Size, Share, Types, Products, Trends, Growth, Applications and Forecast 2023 to 2030

The Carotenoids market was valued at USD 1.63 billion in 2021 and is expected to reach USD 2.19 billion by the year 2028, at a CAGR of 4.3%.

The carotenoids market encompasses a wide range of industries, from food and beverages to pharmaceuticals and cosmetics. Carotenoids are natural pigments responsible for the vibrant colors seen in many fruits and vegetables, and they also have antioxidant properties that offer various health benefits. The food and beverage industry is a significant consumer of carotenoids, using them as natural colorants to enhance the visual appeal of products. They are added to a variety of food items, including juices, dairy products, snacks, and confectionery, to impart shades of red, orange, and yellow. With consumers increasingly favoring natural ingredients over synthetic ones, the demand for carotenoids in this sector is expected to remain strong.

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Leading players involved in the Carotenoids Market include:

Allied Biotech, BASF SE, Dohler GmbH, FMC Corporation, Sensient Technologies, Chr Hansen Holdings A/S, Kemin Industries, Algatech Tech, Novus International Inc., DDW The Color House, Lycored Ltd, Fuji Chemical Industry Co. Ltd., E.I.D. Parry, Divi's Laboratories, Farbest Brands, Deinove SAS and others Major Players. 

Updated Version 2024 is available our Sample Report May Includes the:

Scope For 2024

Brief Introduction to the research report.

Table of Contents (Scope covered as a part of the study)

Top players in the market

Research framework (structure of the report)

Research methodology adopted by Worldwide Market Reports

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

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Segmentation of Carotenoids Market:

By Type

Astaxanthin

Beta-Carotene

Canthaxanthin

Capsanthin

Others

By Source

Synthetic

Natural

By Application

Animal Feed

Food & Beverages

Personal Care & Cosmetics

Dietary Supplements

Pharmaceuticals

An in-depth study of the Carotenoids industry for the years 2023–2030 is provided in the latest research. North America, Europe, Asia-Pacific, South America, the Middle East, and Africa are only some of the regions included in the report's segmented and regional analyses. The research also includes key insights including market trends and potential opportunities based on these major insights. All these quantitative data, such as market size and revenue forecasts, and qualitative data, such as customers' values, needs, and buying inclinations, are integral parts of any thorough market analysis.

Market Segment by Regions: -

North America (US, Canada, Mexico)

Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

South America (Brazil, Argentina, Rest of SA)

Reasons for Acquiring this Report:

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Access a detailed breakdown of the Carotenoids Market Growth 2023-2030 market worldwide, including product variations, use cases, technologies, and final consumers. Allocate resources effectively by anticipating demand patterns for emerging products. Stay ahead in product development by understanding market dynamics and consumer preferences.

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4. Comprehensive Understanding for Executives:

Analyze primary drivers, challenges, restrictions, and opportunities in the global Laboratory Clothes market. Develop effective strategies by gaining insights into market dynamics. Allocate resources based on a thorough understanding of market conditions.

5. Competitive Intelligence:

Obtain a detailed analysis of competitors and their key tactics in the Carotenoids Market Growth 2023-2030. Plan market positioning based on a comprehensive understanding of the competitive landscape. Stay ahead by learning from competitors’ strengths and weaknesses.

6. Accurate Business Forecasting:

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Astaxanthin Market Forecast: Growth, Trends, and Opportunities

The global astaxanthin market was valued at USD 2.34 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 17.1% from 2024 to 2030. This growth is largely driven by the increasing demand for astaxanthin across various sectors, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages.

Astaxanthin is a powerful antioxidant commonly used as a food ingredient in the aquaculture industry, especially for species such as prawns, salmon, trout, and ornamental fish. It enhances the coloration of these aquatic animals, which in turn increases their commercial value. Beyond its cosmetic effects, astaxanthin offers several health benefits for aquatic species. It helps improve stress tolerance, promotes better growth, boosts immune-related gene expressions, supports reproductive capacity, enhances survival rates, and increases disease resistance. Due to these benefits, major companies are intensifying their focus on product development and forming collaborative agreements to cater to the growing demand for astaxanthin in aquaculture.

The astaxanthin market is also characterized by significant innovation, with companies developing new formulations and sustainable production methods to meet the evolving market needs. A notable example of such innovation is Sirio Europe (SIRIO), which, in August 2023, announced plans to introduce two new softgel products targeted at the pharmaceutical sector during the CPHI Barcelona 2023 event. These new products represent a step toward diversifying the application of astaxanthin in different industries.

Additionally, the market is seeing considerable merger and acquisition (M&A) activity among leading companies. In January 2022, ENEOS Corporation made a strategic acquisition of Ecocert Inputs Attestation, a globally recognized certification organization. This move strengthens ENEOS' position in the astaxanthin market, particularly for its product Panaferd-AX. The merger underscores ENEOS' commitment to maintaining high-quality standards and meeting international certifications, which further supports the growth of the astaxanthin market.

Gather more insights about the market drivers, restrains and growth of the Astaxanthin Market 

Regional Insights:

North America Astaxanthin Market Trends

North America is currently the largest market for astaxanthin, accounting for 36.53% of the global market share in 2023. The region’s demand for astaxanthin is largely driven by the rising prevalence of nutrition-related and skin-related health issues. Moreover, North America is home to major players such as Cyanotech, Piveg, Inc., and Beijing Ginko Group (BGG), as well as synthetic astaxanthin producers like Cardax, Inc.. These companies are expected to drive continued market growth throughout the forecast period. The region also benefits from a large consumer base that is increasingly health-conscious, coupled with a growing adoption of nutraceuticals and a well-established cosmeceutical industry. These factors collectively fuel the increasing demand for astaxanthin products in North America.

Asia Pacific Astaxanthin Market Trends

Asia Pacific, on the other hand, is expected to experience the fastest growth in the astaxanthin market over the forecast period. This growth is supported by increasing production capacities, higher research and development (R&D) expenditures, and strong economic growth in the region. Countries in the Asia Pacific are becoming key manufacturing hubs for astaxanthin, with several companies ramping up production to meet regional demand.

India

In India, the growing prominence of natural ingredients is contributing to the rising popularity of astaxanthin. For example, BodyFirst Wellness Nutrition, an Indian nutraceutical company, launched its range of products both nationwide and internationally after a successful market test. The company has already established a solid presence in North India through partnerships with 15 distributors. Its official launch aims for broader reach, including collaboration with 100 more distributors across India and expanding its global presence through online platforms. The launch highlights the increasing adoption of traditional, natural ingredients, such as ashwagandha and astaxanthin, in India’s burgeoning nutraceutical market.

Browse through Grand View Research's Category Pharmaceuticals Industry Research Reports.

• The global celiac disease treatment market size was valued at USD 582.5 million in 2023 and is projected to grow at a CAGR of 11.8% from 2024 to 2030.

• The global food allergy treatment market size was estimated at USD 6.87 billion in 2024 and is projected to grow at a CAGR of 8.27% from 2025 to 2030.

Key Companies & Market Share Insights:

The astaxanthin market features several key players, including Algatech Ltd., Cyanotech Corporation, and ALGAMO. These companies are enhancing their market positions by expanding into new geographical regions to increase their market share. Additionally, they are focusing on securing market approvals for innovative products aimed at addressing various health conditions.

Emerging players in the market are adopting strategies such as collaborations with research institutes and academic organizations to innovate and bring new products to market. These collaborations are helping to drive forward both product development and the establishment of new contracts, positioning these companies for future growth. Furthermore, the agility of emerging market players allows them to adapt quickly to changing market demands and technological advancements, making them more flexible than their larger, established counterparts.

Key Astaxanthin Companies:

• Algatech Ltd

• MicroA

• Cyanotech Corporation

• Algalíf Iceland ehf

• Beijing Gingko Group (BGG)

• PIVEG, Inc.

• Fuji Chemical Industries Co., Ltd

• ENEOS Corporation

• Atacama Bio Natural Products S.A.

• E.I.D. – Parry (India) Limited (Alimtec S.A., Valensa International)

Order a free sample PDF of the Astaxanthin Market Intelligence Study, published by Grand View Research.

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Astaxanthin Microcapsule Powder , Global Market Size Forecast, Top 15 Players Rank and Market Share

Astaxanthin Microcapsule Powder Market Summary

According to the new market research report "Global Astaxanthin Microcapsule Powder Market Report 2023-2029", published by QYResearch, the global Astaxanthin Microcapsule Powder market size is projected to grow from USD 178 million in 2023 to USD 305 million by 2029, at a CAGR of 9.4% during the forecast period.

Astaxanthin is a keto carotenoid with the chemical name 3,3 '- dihydroxy-4,4' - diketone group- β, β′- Carotene, a red solid powder, is fat soluble, insoluble in water, and soluble in organic solvents. Mainly found in aquatic animals such as salmon, trout, krill, shrimp, crayfish, and crustaceans. Astaxanthin is not only a red pigment, but also a chain breaking antioxidant and one of the most powerful lipophilic antioxidants discovered to date. It has a unique ability to eliminate active substances such as free radicals and oxygen, and to inhibit lipid peroxidation. Research has shown that natural astaxanthin is more than 500 times more effective than vitamin E, and is more effective than lutein, lycopene, and β- Other carotenoids such as carotenoids are more effective. In addition, astaxanthin is a lutein carotenoid with a unique molecular structure that does not convert into vitamin A and has no "pro oxidation" activity.

Astaxanthin has extremely strong antioxidant capacity, which can remove nitrogen dioxide, sulfides, disulfides, etc. It can also reduce lipid peroxidation and effectively inhibit lipid peroxidation caused by free radicals. Astaxanthin can be obtained through biological extraction, chemical synthesis, and production from algae, bacteria, yeast, etc.

Astaxanthin microcapsule powder CWS is a new type of food supplement, also known as cold water soluble astaxanthin. It is made by encapsulating astaxanthin molecules with hydrophilic substances through professional microcapsule technology, allowing them to evenly diffuse in water at room temperature. Solve the problems of astaxanthin molecules being insoluble in water, low bioavailability, poor stability, and the inherent unpleasant odor of astaxanthin.

Based on or includes research from QYResearch: Global Astaxanthin Microcapsule Powder Market Report 2023-2029

Figure.   Global Astaxanthin Microcapsule Powder Market Size (US$ Million), 2018-2029

Based on or includes research from QYResearch: Global Astaxanthin Microcapsule Powder Market Report 2023-2029.

Market Drivers:

1. The increasing demand for natural food supplements and consumer awareness of the adverse effects of chemical products have stimulated the future production of natural astaxanthin.

2. Technology and research are driving forces, and there are currently bottlenecks in purity. With the improvement of market technology, high concentration products may appear in the future.

3. Economic growth in developing countries drives demand.

4. The increase in people's awareness of health has increased their demand for health products. It can be seen from the report that astaxanthin has the fastest growth in the fields of health products and healthcare.

Restraint:

At present, synthetic astaxanthin is mainly used in the field of feed. Chemically synthesized astaxanthin has significant differences in structure, function, application, and safety compared to natural astaxanthin, and its stability and antioxidant activity are also significantly lower than natural astaxanthin.

Due to limitations in raw materials, especially the high manufacturing cost of natural astaxanthin, it has affected the promotion of the product.

The macroeconomic development is less than expected, for example, the economic development in 2023 is less than expected, leading to a decrease in people's consumption. The downstream market of astaxanthin has also been affected, with a growth rate lower than previously expected.

Opportunity:

In recent years, the clinical research data and scope of astaxanthin have been continuously increasing, involving multiple sub tracks such as skin beauty, cognitive health, sports nutrition, immune health, and eye health. Relevant downstream end products have also shown a "growth" trend, especially in the direction of functional foods.

At present, the astaxanthin industry has passed the stage of extensive development and is moving towards a more refined stage. Both upstream, midstream, and downstream are converging, and it is necessary to have a keen insight into capturing frontline market demand and pain points. By establishing the company's own scientific and technological innovation capabilities, it is necessary to develop more innovative product matrices that are suitable for the current market needs, improve product added value, and continuously invest the profits earned in innovative research and development in order to maintain competitiveness.

The development of astaxanthin should closely follow the market demand and pain points. Production costs and production scale are no longer barriers to current market development. In the current weak global economic environment, the greater the output, the greater the pressure, especially for low threshold technology production capacity. It is necessary to balance the relationship between input and output.

Figure.   Astaxanthin Microcapsule Powder, Global Market Size, The Top Five Players Hold 50% of Overall Market

Based on or includes research from QYResearch: Global Astaxanthin Microcapsule Powder Market Report 2023-2029.

This report profiles key players of Astaxanthin Microcapsule Powder such as DSM, Cyanotech Corporation, Fuji Chemical Industries, BASF, Shandong Tianyin Biotechnology, AlgaTechnologies, ENEOS Techno Materials Corporation, Zhejiang NHU

In 2022, the global top five Astaxanthin Microcapsule Powder players account for 57.5%% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Astaxanthin Microcapsule Powder.

Figure.   Astaxanthin Microcapsule Powder, Global Market Size, Split by Product Segment

Based on or includes research from QYResearch: Global Astaxanthin Microcapsule Powder Market Report 2023-2029.

In terms of product type, Natural is the largest segment, hold a share of 70.1%.

Figure.   Astaxanthin Microcapsule Powder, Global Market Size, Split by Application Segment

Based on or includes research from QYResearch: Global Astaxanthin Microcapsule Powder Market Report 2023-2029.

In terms of product application, Drug is the largest application, hold a share of 48.2%.

Figure.   Astaxanthin Microcapsule Powder, Global Market Size, Split by Region (Production)

Based on or includes research from QYResearch: Global Astaxanthin Microcapsule Powder Market Report 2023-2029.

Figure.   Astaxanthin Microcapsule Powder, Global Market Size, Split by Region

Based on or includes research from QYResearch: Global Astaxanthin Microcapsule Powder Market Report 2023-2029.

About the Authors

Yunmei Sun---Lead Author

Email: sunyunmei@qyresearch.com

Sun Yunmei has 2 years of industry research experience, focusing on research in the chemical industry chain related fields, including medical grade reagents, high-purity reagents for semiconductors, and chemical laboratory equipment.

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

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Nutraceuticals Market Is Expected To Grow Swiftly By 2030

The global nutraceuticals market size is projected to reach USD 599.71 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 9.6% from 2024 to 2030. Rising awareness regarding calorie reduction and weight loss in the major markets including the U.S., China, and India is expected to promote the application of the health and wellness segment and thus, in turn, will have a substantial impact on the industry.

Nutraceuticals are products that provide health advantages and additional nutrition to the human body. It comprises fortified nutrients, such as taurine, CoQ10, omega-3, calcium, zinc, and antioxidants, that develop the complete health of consumers. These nutrients further benefit in averting medical conditions such as hypertension, diabetes, heart diseases, and allergies. As nutraceuticals develop the digestive and immune systems and enhance the cognitive behavior of consumers, their demand is witnessing a surge at the global level.

The increasing trend among consumers to alter dietary habits is likely to boost the demand for nutraceuticals. The consumer belief that improper diet results in an increase in the costs of pharmaceuticals is anticipated to boost the demand for nutraceuticals. This would also help the government as it would result in lesser expenditure on healthcare and low social security costs.

A rise in disposable income, increasing consumer awareness concerning health issues, and rapid urbanization are likely to boost the market growth over the forecast years. A positive outlook towards medical nutrition owing to the high prevalence of weight management programs, along with cardiovascular diseases, is anticipated to propel the product demand.

The rise and evolution of wellness-focused diets such as keto and paleo are driving food producers to cater their products in this direction. Functional food products such as probiotics and omega-3 are highly used in yogurt and fish oils to reduce the risk of cardiovascular diseases and develop the quality of intestinal microflora, which is further projected to fuel the growth of the functional food segment over the coming years.

Request a free sample copy or view report summary: Nutraceuticals Market Report

Nutraceuticals Market Report Highlights

Based on ingredient, in 2023, probiotics held a dominant position in the market; with a share of 27.7% owing to the majority of food manufacturing companies using probiotics as a primary ingredient to provide better nourishment and reduce health problems caused by harmful bacteria

The vitamins segment captured a significant market share in 2023. The segment is expected to witness significant growth in the coming years

In terms of product, the functional foods segment dominated the market with a revenue share of 37.65% in 2023. Rising healthcare costs, coupled with the increasing geriatric population across the world, are anticipated to assist the segment growth over the forecast period

North America held the largest revenue share of over 34.90% in 2023. The growing health concerns amongst consumers and increasing awareness regarding nutraceuticals are likely to be the major drivers of the North America market.

The market represents a highly competitive landscape. Key market players dominate the market space and have been focusing on various strategic initiatives including mergers & acquisitions, product innovation, and portfolio expansion

Nutraceuticals Market Segmentation

Grand View Research has segmented the global nutraceuticals market based on ingredient, product, application, and region:

Nutraceuticals Ingredient Outlook (Revenue, USD Million, 2018 - 2030)

Aloe vera

Amino acids

Botanical Ingredients

Ashwagandha

Curcumin

Ginseng

Hemp

Others

Cannabidiol (CBD)

Carbohydrates

Carnitine

Food Color

Carotenoids

Astaxanthin

Lutein

Lycopene

Other carotenoids (Zeaxanthin, Betacarotene)

Spirulina

Collagen

Colostrum

Cultures and fermentation starters

Dairy ingredients

Emulsifiers

Enzymes

Essential oils

Fat replacers

Fats and oils

Fibers

Flavors

Fruit and vegetable products

Glucosamine / Chondroitin

Isoflavones

Juices and concentrates

Krill

Lipids / Fatty Acids

Marine ingredients

Minerals

Calcium

Iron

Magnesium

Selenium

Others

Omega-3s

Marine Derived

Plant-derived

Prebiotics

Probiotics

Proteins

Sweeteners

Stevia

Monkfruit

Others (Honey, sucrose, fructose, etc.)

Vitamins

Vitamin A

Vitamin B

Vitamin C

Vitamin D

Vitamin E

Vitamin K

Whey proteins

Other

Nutraceuticals Product Outlook (Revenue, USD Million, 2018 - 2030)

Dietary supplements

Functional foods

Functional beverages

Nutraceuticals Application Outlook (Revenue, USD Million, 2018 - 2030)

Allergy & intolerance

Animal nutrition

Healthy ageing

Bone & joint health

Cancer prevention

Children's health

Cognitive health

Diabetes

Digestive / Gut health

Energy & endurance

Eye health

Heart health

Immune system

Infant health

Inflammation

Maternal health

Men's health

Nutricosmetics

Oral care

Personalized nutrition

Post Pregnancy and reproductive health

Sexual health

Skin health

Sports nutrition

Weight management & satiety

Women's health

Other

Nutraceuticals Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.

Canada

Mexico

Europe

Germany

France

Italy

UK

Spain

The Netherlands

Asia Pacific

China

Japan

India

Australia & New Zealand

South Korea

Central & South America

Brazil

Argentina

Middle East & Africa

UAE

South Africa

List of Key Players in the Nutraceuticals Market

DSM

Amway

Pfizer Inc.

Nestle

The Kraft Heinz Company

The Hain Celestial Group, Inc.

Nature's Bounty

General Mills Inc.

Danone

Tyson Foods