Astaxanthin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Astaxanthin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global astaxanthin market reached a value of US$ 696.4 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,122.1 Million by 2027, exhibiting a CAGR of 8.39% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Astaxanthin (C40H52O4) is a red fat, soluble carotenoid pigment found in various microorganisms and marine animals. It belongs to chemical compounds known as terpenes that are made from five-carbon precursors, dimethylallyl diphosphate and isopentenyl diphosphate. It has antioxidants and anti-inflammatory and antineoplastic properties, which assist in enhancing the immune system, preventing damage caused by ultraviolet (UV) rays, protecting against chemically induced cancers, and treating several diseases. Consequently, it is utilized as a functional food ingredient, dietary supplement, and feed additive across the globe.

Astaxanthin Market Trends:
The increasing prevalence of diseases like diabetes, cancer, cognitive health problems and cardiovascular diseases represents one of the significant factors propelling the growth of the market. Astaxanthin aids in increasing blood flow, minimizing blood sugar levels and reducing pain in muscles, joints, and tendons. It also prevents photoaging, improves sleep cycles, combats depression, and increases sperm motility. Besides this, on account of its ability to preserve the taste, color, freshness, and quality of food items, there is a significant rise in the demand for astaxanthin as a food-additive and food-coloring agent in the food and beverage (F&B) industry across the globe. Furthermore, astaxanthin is widely used for skin tightening, decreasing fine lines and wrinkles and retaining moisture and elasticity. Apart from this, various manufacturers are utilizing cost-effective technologies to reduce water wastage and save electricity, which is acting as another growth-inducing factor. For instance, they are employing a sealed microalgae cultivation system that minimizes the risks associated with microbial contamination and agricultural residue. Other major factors, including the increasing preference for dietary supplements and rising nutritional deficiency among individuals, are projected to bolster the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global astaxanthin market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on source, product and application.

Breakup by Source:


Breakup by Product:

Dried Algae Meal or Biomass

Breakup by Application:

Aquaculture and Animal Feed

Breakup by Region:

North America
United States
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Algatech LTD(Société La Biochimie Appliquée SA), BASF SE, Beijing Gingko Group, Cardax Inc, Cyanotech Corporation, Divi's Laboratories Limited, E.I.D. - Parry (India) Limited (Murugappa Group), Fenchem Biotek Ltd, Fuji Chemical Industries Co. Ltd. , Koninklijke DSM N.V. and Piveg Inc.

Key Questions Answered in This Report
1. What was the size of the global astaxanthin market in 2021?
2. What is the expected growth rate of the global astaxanthin market during 2022-2027?
3. What are the key factors driving the global astaxanthin market?
4. What has been the impact of COVID-19 on the global astaxanthin market?
5. What is the breakup of the global astaxanthin market based on the source?
6. What is the breakup of the global astaxanthin market based on the product?
7. What is the breakup of the global astaxanthin market based on the application?
8. What are the key regions in the global astaxanthin market?
9. Who are the key players/companies in the global astaxanthin market?

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Astaxanthin Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Source
6.1 Natural
6.1.1 Market Trends
6.1.2 Key Segments Yeast Krill/Shrimp Microalgae Others
6.1.3 Market Forecast
6.2 Synthetic
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Product
7.1 Dried Algae Meal or Biomass
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Oil
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Softgel
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Liquid
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Application
8.1 Nutraceuticals
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Cosmetics
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Aquaculture and Animal Feed
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States Market Trends Market Forecast
9.1.2 Canada Market Trends Market Forecast
9.2 Asia-Pacific
9.2.1 China Market Trends Market Forecast
9.2.2 Japan Market Trends Market Forecast
9.2.3 India Market Trends Market Forecast
9.2.4 South Korea Market Trends Market Forecast
9.2.5 Australia Market Trends Market Forecast
9.2.6 Indonesia Market Trends Market Forecast
9.2.7 Others Market Trends Market Forecast
9.3 Europe
9.3.1 Germany Market Trends Market Forecast
9.3.2 France Market Trends Market Forecast
9.3.3 United Kingdom Market Trends Market Forecast
9.3.4 Italy Market Trends Market Forecast
9.3.5 Spain Market Trends Market Forecast
9.3.6 Russia Market Trends Market Forecast
9.3.7 Others Market Trends Market Forecast
9.4 Latin America
9.4.1 Brazil Market Trends Market Forecast
9.4.2 Mexico Market Trends Market Forecast
9.4.3 Others Market Trends Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Algatech LTD(Société La Biochimie Appliquée SA) Company Overview Product Portfolio
14.3.2 BASF SE Company Overview Product Portfolio Financials SWOT Analysis
14.3.3 Beijing Gingko Group Company Overview Product Portfolio
14.3.4 Cardax Inc Company Overview Product Portfolio Financials
14.3.5 Cyanotech Corporation Company Overview Product Portfolio Financials SWOT Analysis
14.3.6 Divi's Laboratories Limited Company Overview Product Portfolio Financials SWOT Analysis
14.3.7 E.I.D. - Parry (India) Limited (Murugappa Group) Company Overview Product Portfolio Financials
14.3.8 Fenchem Biotek Ltd Company Overview Product Portfolio
14.3.9 Fuji Chemical Industries Co. Ltd. Company Overview Product Portfolio
14.3.10 Koninklijke DSM N.V. Company Overview Product Portfolio Financials SWOT Analysis
14.3.11 Piveg Inc. Company Overview Product Portfolio

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