Press release
The Global Astaxanthin Market, valued at USD 769.56 Mn in 2022, is expected to exhibit substantial growth with a CAGR of 8.54 Percent from 2023 to 2029, reaching nearly USD 1365.75 Mn, according to a comprehensive report released by MMR.
Astaxanthin Market
Astaxanthin, widely utilized in nutraceuticals, dietary supplements, pharmaceuticals, cosmetics, animal feed, and the food and beverage industry, offers multiple health benefits. It possesses potent antioxidant properties, supports cardiovascular health, eye health, and immune function. Moreover, ongoing research explores its anti-inflammatory, neuroprotective, and anti-cancer properties, opening new avenues for application in the pharmaceutical industry.
The astaxanthin market data presented in the report is sourced from primary and secondary research, employing rigorous methodologies to ensure accuracy. Market size estimations and forecasts are adjusted for various factors, including inflation, regulatory changes, economic fluctuations, and policy shifts.
The report adopts a bottom-up approach for market size estimation and forecasting, utilizing multiple data triangulation methodologies. It derives percentage splits, market shares, and segment breakdowns from utilization rates and average prices. Country-wise analysis considers the adoption or utilization percentage of the market size in each respective region or country.
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Astaxanthin Market Dynamics:
The astaxanthin market is driven by various factors contributing to its growth. Increasing consumer awareness of the health benefits associated with astaxanthin, its growing demand as a natural and sustainable ingredient, expanding application areas across multiple industries, and technological advancements in production methods are key drivers propelling market growth. A favorable regulatory environment, with supportive regulations and recognition of astaxanthin's safety, further fosters market growth.
The cosmetics and skincare industry recognizes astaxanthin for its antioxidant and anti-aging effects, contributing to improved skin health and wrinkle reduction. In the aquaculture sector, astaxanthin serves as a natural pigment, enhancing the coloration of fish flesh, and as an additive in animal feed to promote health and growth. Astaxanthin is also utilized as a natural colorant and antioxidant in the food and beverage industry. Additionally, sports nutrition leverages its benefits to enhance exercise performance and aid in muscle recovery.
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Astaxanthin Market Regional Insights:
The global astaxanthin market exhibits significant regional variations in terms of demand, market dynamics, consumer preferences, and regulatory landscapes. North America, particularly the United States, dominates the market due to increasing consumer awareness. In Europe, Germany, France, and the United Kingdom are key contributors, driven by the rising demand for natural ingredients. Asia-Pacific, led by Japan and China, serves as a major consumer and producer of astaxanthin. South America, the Middle East, and Africa are emerging markets with steady growth and rising consumer awareness.
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Astaxanthin Market Segmentation:
By Form:
• Dried Algae Meal Or Biomass
• Oil
• Softgel
• Liquid
• Others
By Production:
• Microalgae cultivation
• Fermentation
• Extraction
• Chemical synthesis
By Source:
• Natural
• Plants
• Yeast & microbes
• Marine animals
• Synthetic
By Application:
• Nutraceuticals
• Cosmetics
• Aquaculture & Animal Feed
• Others
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Astaxanthin Market Key Competitors include:
• DSM Nutritional Products (Netherlands)
• Cyanotech Corporation (United States)
• Fuji Chemical Industries Co., Ltd. (Japan)
• Algatechnologies Ltd. (Israel)
• AstaReal AB (Sweden)
• Fenchem (China)
• BGG (Beijing Gingko Group) (China)
• Cardax (United States)
• Valensa International (United States)
• JXTG Nippon Oil & Energy Corporation (Japan)
• Koninklijke DSM N.V. (Netherlands)
• Otsuka Pharmaceutical Co., Ltd. (Japan)
• Piveg, Inc. (United States)
• EID Parry (India)
• Igene Biotechnology Inc. (Taiwan)
• Beijing Ginko Group (China)
• Heliae Development, LLC (United States)
• Mera Pharmaceuticals, Inc. (United States)
• JX Nippon Oil & Energy Corporation (Japan)
• Nutrex Hawaii (United States)
• Biorigin (Brazil)
• AlgaeCan Biotech Ltd. (Canada)
• BlueOcean NutraSciences Inc. (Canada)
• Yunnan Alphy Biotech Co., Ltd. (China)
• Algatechologies (United States)
• Solix Algredients, Inc. (United States)
• Jingzhou Natural Astaxanthin Inc. (China)
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Table of Content for Astaxanthin Market
1. Global Astaxanthin Market: Research Methodology
2. Global Astaxanthin Market: Executive Summary
• Market Overview and Definitions
• Introduction to Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Astaxanthin Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Astaxanthin Market Segmentation
• Global Market, by Form (2021-2029)
• Global Market, by Production (2021-2029)
• Global Market, by Source (2021-2029)
• Global Market, by Application (2021-2029)
5. Regional Astaxanthin Market (2021-2029)
• Regional Market, by Form (2021-2029)
• Regional Market, by Production (2021-2029)
• Regional Market, by Source (2021-2029)
• Regional Market, by Application (2021-2029)
• Regional Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Form, Production, Source and Application
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o Competitive landscape - Market Leaders, Market Followers, Regional player
o Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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