Astaxanthin Market

Rising investment in research and development to propel market growth

The market for nutraceuticals & natural antioxidants is expected to be driven by growing consumer awareness of nutritional products and rising dietary supplement usage because of the high cost of hospitalization and the lack of negative side effects. Strong antioxidant astaxanthin has several positive health effects. Comparatively speaking, it is 550 times stronger than antioxidants like vitamin E. Nutraceuticals. Furthermore, it is frequently used to treat various illnesses and offers the necessary dietary supplements with fewer side effects. Cancer, diabetes, and cardiovascular disorders are a few examples of such chronic conditions.

People's growing knowledge of foods high in nutrition continues to propel the nutraceutical business rapidly. Thus, this factor is driving the market CAGR.

Market participants are substantially expanding their production capacity and distribution networks to keep up with the rising demand for nutraceutical products. For instance, after a two-year hiatus, Beijing Gingko Group announced a second increase in its astaxanthin farm capacity in the Pristine region in April 2022. Its production capacity will be maximized by doing this. Moreover, LEHVOSS Nutrition, a well-known supplier of nutraceuticals in the U.K., unveiled the new AstaPure natural astaxanthin Product in April 2021. AstaPure wants to make a big difference in the management of cardiovascular diseases.

Production is rising due to cutting-edge techniques that can satisfy the rising demand without sacrificing astaxanthin's quality or yield. For instance, Algatech Ltd. cultivates microalgae in a sealed system (closed microalgae farming system) that reduces the possibility of contamination from extraneous items, agricultural debris, and microbes. For market participants, the availability of high-quality products and high yield will present new opportunities. Thus, it is anticipated that this aspect will accelerate astaxanthin market revenue globally.

Recent News :

In 2022 : AstaPure Arava, an astaxanthin whole algal complex, was introduced by Solabia-Algatech Nutrition Ltd.  in a novel gummy form. The product has more flavor and can be made vegan thanks to the pectin basis provided by the microalgae farmers. The cherry-flavored plant-based gummies have 50 mg of vitamin C and 4 mg of entire astaxanthin algal complex. Preservatives and artificial colorings are absent from the gummies. You can get the required daily dosage of two antioxidants from up to two candies each day.

For consumers in Sweden and Norway, AstaReal, a global leader in the production and study of natural algal astaxanthin, rebranded its completed formulation Astaxin® in 2024. The supplement is currently offered at a few health food stores, internet retailers, and pharmacies. The tried-and-true combination of Astaxin®, now available with a sleek, Nordic product design, blends vitamins C and E with astaxanthin derived from microalgae. It comes in two distinct product sizes and is supplied in gelatin capsules.

The increasing global awareness regarding health and wellness significantly drives the Global Astaxanthin Industry. Consumers are becoming more conscious of the nutritional benefits associated with astaxanthin, which is known for its antioxidant properties. This trend is reflected in the growing demand for dietary supplements and functional foods containing astaxanthin. As of 2024, the market is projected to reach approximately 1040.4 USD Billion, indicating a robust interest in health-enhancing products. The emphasis on preventive healthcare is likely to further propel the consumption of astaxanthin, as individuals seek natural solutions to enhance their overall well-being.

The Global Astaxanthin Industry is poised for substantial growth, with projections indicating a market size of 2050.3 USD Billion by 2035. This anticipated growth is driven by various factors, including rising health consciousness, expanding applications in cosmetics, and increasing demand for natural ingredients. The market is expected to experience a CAGR of 6.36% from 2025 to 2035, reflecting the ongoing trends towards health and wellness. As the industry evolves, it is likely to attract new entrants and foster innovation, further enhancing the competitive landscape. The growth trajectory suggests a promising future for astaxanthin as a key player in the global health and wellness market.

The Global Astaxanthin Industry is experiencing growth due to its expanding applications in the cosmetics sector. Astaxanthin is recognized for its skin health benefits, including anti-aging properties and UV protection. As consumers increasingly prioritize skincare products that offer natural ingredients, the demand for astaxanthin-infused cosmetics is likely to rise. This trend is supported by the increasing number of beauty brands incorporating astaxanthin into their formulations, thereby enhancing product appeal. The anticipated growth in this segment may contribute to the overall market expansion, with projections indicating a market size of 2050.3 USD Billion by 2035.

The shift towards natural ingredients in food and beverages is a significant driver for the Global Astaxanthin Industry. Consumers are increasingly seeking products that are free from synthetic additives, leading to a rise in the demand for natural colorants and supplements. Astaxanthin, derived from microalgae, fits this trend perfectly, as it is perceived as a safe and effective natural ingredient. This growing preference for clean-label products is likely to boost the market, as manufacturers respond by incorporating astaxanthin into their offerings. The trend aligns with the overall market growth, which is expected to reach 1040.4 USD Billion in 2024.

The Global Astaxanthin Industry is benefiting from heightened research and development activities aimed at exploring the potential health benefits of astaxanthin. Scientific studies continue to investigate its effects on various health conditions, including cardiovascular health, cognitive function, and inflammation. This growing body of evidence is likely to enhance consumer confidence and drive demand for astaxanthin-based products. As more health claims are substantiated through research, the market is expected to expand, with projections indicating a robust growth trajectory. The anticipated CAGR of 6.36% from 2025 to 2035 reflects the potential for continued innovation and product development in this sector.

Innovations in extraction technologies are playing a crucial role in the Global Astaxanthin Industry. Improved extraction methods enhance the yield and purity of astaxanthin, making it more accessible for various applications. Techniques such as supercritical fluid extraction and enzymatic extraction are gaining traction, allowing manufacturers to produce high-quality astaxanthin efficiently. This advancement not only reduces production costs but also meets the increasing demand for high-purity astaxanthin in dietary supplements and functional foods. As these technologies evolve, they are likely to support the market's growth trajectory, contributing to a projected CAGR of 6.36% from 2025 to 2035.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific Astaxanthin market accounted for USD 0.5038 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. High unmet demands, rising astaxanthin production in the area, rising R&D spending, and economic expansion are some of the main factors driving demand for these items. Also, it is projected that rising urbanization, high disposable income, and rising interest in natural astaxanthin will boost the market in this area.

New product development, partnerships, partnerships, expansions, mergers, and acquisitions are the main strategies used by the organisations in the market.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: GLOBAL ASTAXANTHIN MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Astaxanthin market accounts for the second-largest market share. One of the important contributing elements is the rising use of functional beverages and nutraceuticals, which is extraordinarily common in European nations. Alternatives to soft drinks that are high in calories and low in nutrition are preferred by consumers over those. The emphasis on preventative healthcare and people's increased understanding of health and wellbeing are to blame for this shift in choice. Throughout the projected period, product development and technology advancement are anticipated to fuel market expansion for functional beverages in European nations.

Moreover, astaxanthin and other natural components are being added to skincare products thanks to the rising desire for chemical-free cosmetics. Moreover, UK Astaxanthin market held the largest market share, and the Germany Astaxanthin market was the fastest growing market in the region.

North America Astaxanthin Market is expected to grow at the fastest CAGR from 2024 to 2032. One of the main factors driving the demand for astaxanthin in food products in this region is the rise in nutrition- and skin-related disorders. Key producers like Cyanotech, Piveg, Inc., & Beijing Ginko Group (BGG), as well as producers of synthetic astaxanthin like Cardax, Inc., are all present in North America, which is expected to propel the market throughout the projection period.

Also, a sizable population of health-conscious individuals, an increase in the use of nutraceuticals, and a thriving cosmeceutical industry are some of the key drivers fueling market expansion in the area. Further, the U.S. Astaxanthin market held the largest market share, and the Canada Astaxanthin market was the fastest-growing market in the region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Astaxanthin market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the astaxanthin industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global astaxanthin industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, astaxanthin industry has provided medicine with some of the most significant benefits. The Astaxanthin market major player such as Fiskars Group, Husqvarna AB, Falcon Garden Tools Pvt Ltd., Ribe Energy Machinery SL, ILAGA Supplies, Stanley Black & Decker Inc.

A newcomer in the food technology industry, NextFerm Technologies (TASE: NXFR) trades on the Tel Aviv Stock Exchange and specializes in the development, production, and marketing of inventive, functional, and vegan yeast-derived, non-GMO protein substitutes for use in a variety of foods and dietary supplements. Astaferm, a novel antioxidant in the form of oil for softness, received regulatory marketing approval in the United States in September 2021, according to NextFerm Technologies.

ALGALIF is a market leader in providing premium natural astaxanthin products made from the Haematococcus pluvialis microalgae, which are produced in an indoor facility in Iceland that complies with strict quality and environmental standards. Algalif and Marea inked a contract in May 2022 to create a biodegradable product coating using residual algae biomass.