Astaxanthin Market - Trends Forecast Till 2028

Astaxanthin Market, By Product (Oil, Softgel, Liquid), By Source (Natural, Synthetic), By Application (Aquaculture & Animal Feed, Nutraceuticals), By Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-FB-AM-885

Format:  

Number of Pages: 385

Domain: Food & Beverages

Astaxanthin Market – Trends Forecast Till 2028

The global astaxanthin market size was valued at USD 1,371.24 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.8% from 2021 to 2028.

Astaxanthin is a powerful antioxidant with health benefits and is considered to be 550 times stronger than antioxidants, such as vitamin E. Nutraceuticals provide the required dietary supplements with fewer adverse effects and are widely used in the prevention of diseases, such as cardiovascular diseases (CVDs), diabetes, and cancer.

High demand for nutraceuticals due to their antioxidant properties and increased demand in the aquaculture & animal feed industry are some of the factors that have supported long-term expansion for Astaxanthin Market.

Astaxanthin Market Size Analysis

North America held a market share of over 36% in 2020 and is expected to maintain its dominance over the forecast period. This dominance can be attributed to the existence of an established nutraceutical industry, growing awareness about the use of astaxanthin, and the presence of a health-conscious population.

Astaxanthin Market is segmented into source, product, application and region.

On the basis of Source

  • Natural
  • Synthetic

On the basis of Product  

  • Dried algae meal or biomass
  • Oil
  • Softgel
  • Liquid
  • Others

On the basis of Application  

  • Nutraceuticals
  • Cosmetics
  • Aquaculture and animal feed
  • Food
  • Others

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Astaxanthin Market Primary Respondent

 

Key Players

  • AlgatechLtd.
  • CyanotechCorp.
  • AstaReal Group, CO2 GRO Inc.
  • Beijing Gingko Group
  • E.I.D. – Parry (India) Limited
  • ENEOS Corporation
  • FENCHEM
  • MicroA
  • NextFerm
  • Algalif Iceland ehf

Recent Developments

  • October 2020, Cyanotech Corp. launched BioAstin Hawaiian Astaxanthin, a novel delivery platform of a water-dispersible powder.
  • May 2018, Algalíf Iceland ehf expanded its presence in the Asia Pacific market with Astalífastaxanthin oleoresins and launched IceCaps soft gelatin capsules & Icelandic Harvest.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Astaxanthin Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 16.8% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

source, product, application and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

AlgatechLtd.; CyanotechCorp.; AstaReal Group, CO2 GRO Inc.; Beijing Gingko Group; E.I.D. – Parry (India) Limited; ENEOS Corporation; FENCHEM; MicroA; NextFerm; Algalif Iceland ehf

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