The global astaxanthin market is projected to record a CAGR of 7.63% during the forecast period due to the increasing focus on preventive healthcare.

Market Research Future has published a cooked research report on the Global astaxanthin market, 2022–2030. The global astaxanthin market is projected to exhibit a CAGR of 7.63%  during the forecast period of 2022 to 2030.

Market Research Future has recognized the following companies as the key players in the global astaxanthin market: Cardax, Inc. (US), BASF SE (Germany), Alga Technologies (Israel), Archer-Daniels-Midland Company (US), Koninklijke DSM NV (Netherlands), Cyanotech Corporation (US), Beijing Gingko Group (China), Fuji Chemical Industries Co., Ltd (Japan), Fenchem (China), and Otsuka Holdings Co., Ltd (Japan).

Astaxanthin Market Highlights

The global astaxanthin market is projected to be valued at USD 1.84 billion by 2030, recording a CAGR of 7.63% during the forecast period. The global astaxanthin market is expected to register a notable growth rate during the forecast period. The wide range of applications of astaxanthin is the major factor driving the market growth. Also, increasing focus on preventive healthcare across the globe is boosting the sales of astaxanthin in the pharmaceuticals & nutraceuticals industry. Moreover, the rising demand for natural ingredients in various application industries is creating profitable opportunities for manufacturers of natural astaxanthin. Also, the growth of the aquaculture industry has opened doors for the development of the astaxanthin market in the coming years. However, the high cost of production of astaxanthin is restraining the growth of the market.

Segmental Analysis

The global astaxanthin market has been segmented based on source, form, application, and region.

Based on source the global astaxanthin market has been segmented into synthetic and natural. The natural sub-segment is further classified as marine, yeast & microbes, and plants. The synthetic segment accounted for the larger market share of 88.08% in 2021. Synthetic astaxanthin is primarily produced from petrochemicals and is commonly used in the salmon industry to provide farm-raised salmon its traditional pinkish-red color. Without the addition of astaxanthin, the flesh of farm-raised salmon appears to be grayish white. Synthetic astaxanthin is available in all three forms (RR, RS, and SS), and only 25% of it is the bioavailable SS form. Also, chemical synthesis yields different stereoisomers as compared to natural synthesis. Government approval for direct consumption of synthetic astaxanthin in food and beverages is not yet received.

Based on form, the global astaxanthin market has been segmented into dry and liquid. The dry segment accounted for the larger market share of 79.46% in 2020. The dry segment was valued at USD 609.76 million in 2020 and is expected to register a CAGR of 7.58% during the forecast period to reach a market value of USD 1,092.57 million 1.84 billion by 2030. The segment accounted for a larger revenue share and is expected to maintain its dominance during the forecast period due to the wide use of dry astaxanthin in the production of sports nutrients, capsules and tablets, feed supplements, and other applications. Dry astaxanthin is easy to store and transport and helps enhance the shelf life of products. Moreover, the production process of the dry form is economical and not complicated, which is expected to drive the growth of the dry segment during the forecast period.

Based on application, the global astaxanthin market has been segmented into food & beverages, pharmaceutical & nutraceuticals, animal feed, and personal care. The animal feed segment accounted for the largest market share of 60.43% in 2020. Astaxanthin has been traditionally used as an animal feed additive, mainly in the aquaculture industry. In the aquaculture industry, astaxanthin is commonly used as an additive in formulated aquafeed to promote and improve the coloration of muscle for salmon and shrimps. Farmed shrimps ingest carotenoids naturally present in ponds due to which they appear in an attractive reddish color when cooked. Additionally, certain fish species use astaxanthin as a vitamin A precursor, thereby improving fertilization and survival rates during seed stock production of several commercially important species.

Regional Analysis

On the basis of region, the global astaxanthin market has been categorized as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific accounted for the largest market share of 32.11% in 2020, with a market value of USD 246.43 million; the market is expected to register a CAGR of 7.46%. The growth of the astaxanthin market in Asia-Pacific can be attributed to the increasing production and consumption of nutraceuticals. Nutraceuticals are less expensive than medicines. The growing aging population in several Asia-Pacific countries is further expected to lead to an increase in the consumption of nutraceuticals, which accelerates the growth of astaxanthin. Furthermore, astaxanthin is used as an ingredient in several functional foods. The consumption of functional foods is rising across the emerging economies of Asia-Pacific owing to the increasing per-capita disposable income, urbanization, and the growing concerns for nutrition deficiency. North America accounted for a market share of 25.42% in 2020 and is projected to register a CAGR of 7.78% during the forecast period, 2021 to 2030. The growth of the astaxanthin market in the region is anticipated to be driven by the increasing consumption of dietary supplements. The escalating medical service costs have resulted in a shift of consumers toward the adoption of healthy alternatives in their daily routine, and the consumption and demand for dietary supplements have increased drastically. The increasing demand for natural ingredients in several foods and beverages is anticipated to further propel the growth of the astaxanthin market in North America. Product innovation in the food & beverage industry is another major factor leading to market growth. Also, astaxanthin act as a natural photo-protecting agent for marine life. The market in Europe accounted for 29.96% of the global market in 2020 and is projected to exhibit a CAGR of 7.65% during the forecast period. The demand for astaxanthin is driven by several factors in Europe. One of the significant factors is the increasing consumption of functional beverages or nutraceuticals, which is exceptionally high in European countries. Consumers prefer healthy and nutritive drink alternatives over calorie-heavy soft drinks that have little or no functional benefits. This shift in preference is a result of the focus on preventive healthcare and the growing awareness of health and wellness among people. Product development, along with technological upgradation, is expected to drive the growth of the functional beverages market in European countries during the forecast period. The market in the Rest of the World is comprised of South America, the Middle East, and Africa. The region accounted for 12.50% of the global market in 2020 and is projected to register a growth rate of 7.72% during the forecast period. The market in South America is estimated to be dominant; it is expected to be valued at USD 1.84 billion by 2030, registering a CAGR of 7.31%. The increasing demand for natural health-benefiting ingredients in foods and beverages is a driver for the growth of the South American market, with Brazil accounting for a significant share of the market. Increasing awareness and growing demand for natural astaxanthin is projected to boost regional sales. Moreover, the expansion of various application industries in the Middle East and Africa is expected to add to the growth of the astaxanthin market in the region. In the Middle East, the Gulf Cooperation Council countries are projected to contribute significantly to the growth of the astaxanthin market.

Key Findings of the Study:

• The global astaxanthin market is projected to register a growth rate of 7.63% from 2022 to 2030.


• The synthetic segment is estimated to retain its dominant share till 2030, whereas the marine segment is estimated to register the highest growth rate of 8.15% during the forecast period.


• The dry segment accounted for a larger market share of 79.46% in 2020 and whereas, the liquid segment is projected to record the highest CAGR of 7.85% during the forecast period.


• The animal feed segment is estimated to retain its prominent share till 2030whereas, the Food & Beverages segment is projected to record the highest CAGR of 8.35% during the forecast period.