Global Natural Astaxanthin Market Overview:
As per MRFR analysis, the Natural Astaxanthin Market Size was estimated at 3.33 (USD Billion) in 2022. The Natural Astaxanthin Market Industry is expected to grow from 3.62(USD Billion) in 2023 to 7.6 (USD Billion) by 2032. The Natural Astaxanthin Market CAGR (growth rate) is expected to be around 8.6% during the forecast period (2024 - 2032).
Key Natural Astaxanthin Market Trends Highlighted
The demand for natural astaxanthin is on the rise due to the growing consumer knowledge concerning the health benefits of astaxanthin, including its antioxidant and anti-inflammatory properties. The ongoing trend for a vegan and vegetarian diet has also played a factor in its growth since astaxanthin is a natural source of this vitamin.
Improvement in the methods of cultivation has made it possible to achieve better production efficiency for quality control, thus making natural astaxanthin quicker and cheaper to obtain. This is further supporting the expansion of the market due to the rise in aquaculture and the creation of new extraction methods.
In conjunction with this, the last couple of years have also recorded an increase in the demand for natural astaxanthin in the nutraceutical, cosmetic and food and beverage markets. This is because there is a trend wherein consumers are looking for safer and more effective ingredients to improve their health and well-being, which has prompted the use of astaxanthin in a number of applications. There has also been an increase in the demand for astaxanthin in the sports nutrition products and dietary supplements market because of its muscle recovery and performance-enhancing properties.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Natural Astaxanthin Market Drivers
Rising Demand for Natural Astaxanthin in the Food and Beverage Industry
The growing consumer preference for natural and organic ingredients is driving the demand for natural astaxanthin in the food and beverage industry. Astaxanthin's unique antioxidant properties make it an attractive ingredient for functional foods and beverages, as it can contribute to improved health and well-being. Moreover, the increasing popularity of plant-based diets has led to a surge in demand for natural astaxanthin as a vegan-friendly alternative to synthetic astaxanthin.The food and beverage industry is expected to remain a major growth driver for the Natural Astaxanthin Market Industry in the coming years.
Expanding Applications in the Nutraceutical and Pharmaceutical Industries
The field of nutraceuticals and pharmaceuticals has been increasingly considering natural astaxanthin as a remedial agent. During the last several years, natural astaxanthin has been heralded as a valuable supplement. This natural carotenoid has an impressive antioxidant activity that can help treat a variety of conditions. Astaxanthin can be used to alleviate several health problems, such as skin diseases, eye disorders, and heart problems. Ongoing studies investigate the use of natural astaxanthin in the production of new drugs and supplements.This is expected to create potential growth in the Natural Astaxanthin Market Industry.
Growing Awareness of Astaxanthin's Health Benefits
Factors contributing to the increase of the Natural Astaxanthin Market Industry include consumers’ awareness of health benefits associated with an astaxanthin substance. Educational campaigns and media coverage have emphasized health advantages such as antioxidants, anti-inflammation, and immune-boosting, which resulted in a growing demand for supplements and products of all types containing astaxanthin. These awareness-increasing factors are expected to boost the market in the years to come.
Natural Astaxanthin Market Segment Insights:
Natural Astaxanthin Market Source Insights
The Natural Astaxanthin Market is segmented by source into Haematococcus Pluvialis Algae, Xanthophyllomyces Dendrorhous Yeast, and Synthetic Astaxanthin. Among these, Haematococcus Pluvialis Algae is expected to dominate the market in the coming years. The demand for Haematococcus Pluvialis Algae is growing due to its high astaxanthin content and its ability to produce astaxanthin in a natural and sustainable way. Xanthophyllomyces Dendrorhous Yeast is another important source of astaxanthin, and it is expected to witness significant growth in the coming years due to its high astaxanthin yield and its ability to produce astaxanthin in a cost-effective manner.Synthetic Astaxanthin is also expected to gain market share in the coming years due to its low cost and its ability to produce astaxanthin in large quantities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Natural Astaxanthin Market Application Insights
The major factors contributing to the growth of the market are the increasing demand for natural astaxanthin from various applications, such as aquaculture feed, animal feed, dietary supplements, food beverages, and cosmetics. Among these, aquaculture feed is expected to be the leading application owing to the growing demand for farmed fish and the rising awareness about the benefits of astaxanthin. Natural astaxanthin is widely used in the aquaculture industry to improve the color and health of farmed fish such as salmon. Dietary supplements are also a bulk application owing to the antioxidant and anti-inflammatory properties of astaxanthin.This supplement is used to support skin health, joint health, and growth of cognitive function. Furthermore, the food beverage segment is also expected to witness significant growth as astaxanthin serves as a natural colorant and antioxidant. The cosmetics personal care segment is also a major application because of the antioxidant and anti-aging properties of astaxanthin. Moreover, the food beverage segment is also expected to witness high growth on account of the increasing demand for clean-label products and natural ingredients.
Natural Astaxanthin Market Form Insights
The Natural Astaxanthin Market is segmented by form into dry powder, liquid, capsules, tablets, and softgels. Among these, the dry powder segment held the largest market share in 2023, accounting for over 35% of the Natural Astaxanthin Market revenue. Dry powder is a concentrated form of astaxanthin and is often used in dietary supplements and food fortification. The liquid segment is expected to experience the highest growth rate during the forecast period, owing to its increasing use in beverages and cosmetic products. Capsules and tablets are convenient dosage forms and are popular among consumers who prefer to take astaxanthin supplements.Softgels are a more advanced form of capsules and offer better protection against oxidation and degradation. The segmentation of the Natural Astaxanthin Market into different forms allows manufacturers to target specific consumer groups and develop products that meet their needs.
Natural Astaxanthin Market Purity Insights
The Natural Astaxanthin Market is segmented based on purity into 1%, 2%, 5%, 10%, and 12%. Among these, the 1% purity segment held the largest share of the market in 2023. The 1% purity segment is expected to continue to dominate the market throughout the forecast period, owing to its high demand in the food and beverage industry. The 2% purity segment is expected to witness significant growth over the forecast period, due to its increasing use in the pharmaceutical and nutraceutical industries. The 5% purity segment is also expected to grow steadily over the forecast period, driven by its growing demand in the cosmetics industry.The 10% and 12% purity segments are expected to account for a relatively smaller share of the market, but they are expected to grow at a moderate pace over the forecast period.
Natural Astaxanthin Market Grade Insights
The Natural Astaxanthin Market segmentation by Grade comprises Food Grade, Pharmaceutical Grade, and Cosmetic Grade. Among these, the Food Grade segment held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. The extensive use of astaxanthin as a natural colorant and antioxidant in the food and beverage industry is primarily driving the growth of this segment. The Pharmaceutical Grade segment is anticipated to witness significant growth over the forecast period due to increasing demand for astaxanthin in the production of dietary supplements and nutraceuticals aimed at improving overall health and well-being.On the other hand, the Cosmetic Grade segment is projected to grow at a steady pace, driven by the rising popularity of astaxanthin in skincare products due to its anti-aging and photoprotective properties.
Natural Astaxanthin Market Regional Insights
The regional segmentation of the Natural Astaxanthin Market provides insights into market growth and opportunities across different geographical regions. North America is expected to hold a significant share of the market due to increasing consumer awareness about the health benefits of astaxanthin and the presence of key industry players. Europe is also a major market, driven by the growing demand for natural ingredients in food and beverages. The APAC region is anticipated to witness substantial growth, fueled by rising disposable income and changing consumer preferences toward healthier lifestyles.South America and MEA are emerging markets with potential for growth as awareness about astaxanthin's benefits increases and economies develop.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Natural Astaxanthin Market Key Players And Competitive Insights:
Major players in the Natural Astaxanthin Market industry are focusing on expanding their product portfolio and geographical presence to gain a competitive edge. Strategic collaborations and partnerships are also becoming increasingly common in the Natural Astaxanthin Market industry as companies seek to leverage each other's strengths and expertise. Leading Natural Astaxanthin Market players are also investing heavily in research and development to create innovative new products and technologies. This investment is expected to drive Natural Astaxanthin Market development and growth in the coming years. The Natural Astaxanthin Market Competitive Landscape is expected to remain highly competitive in the coming years, with new entrants and established players vying for market share.Among the leading players in the Natural Astaxanthin Market industry, DSM (Switzerland) is a global leader in the production and supply of natural astaxanthin. The company has a long history of innovation in the astaxanthin market and a strong portfolio of products. DSM's natural astaxanthin is derived from the microalga Haematococcus pluvialis and is available in a variety of formats, including powder, beadlets, and oil. The company's natural astaxanthin is used in a wide range of applications, including dietary supplements, food and beverage products, and personal care products. DSM also offers a range of services to support its customers, including technical support, marketing support, and regulatory support.Kyowa Hakko Bio Co., Ltd. (Japan) is another leading player in the Natural Astaxanthin Market industry. The company has a strong focus on research and development, and its natural astaxanthin is produced using a proprietary fermentation process. Kyowa Hakko Bio's natural astaxanthin is available in a variety of formats, including powder, beadlets, and oil. The company's natural astaxanthin is used in a wide range of applications, including dietary supplements, food and beverage products, and personal care products. Kyowa Hakko Bio also offers a range of services to support its customers, including technical support, marketing support, and regulatory support.
Key Companies in the Natural Astaxanthin Market Include:
Natural Astaxanthin Market Industry Developments
The Natural Astaxanthin Market is poised for substantial growth in the coming years, driven by increasing demand from the food and beverage, dietary supplement, and cosmetic industries. In 2023, the market is valued at approximately USD 3.62 billion and is projected to reach USD 7.6 billion by 2032, exhibiting a CAGR of 8.6% during the forecast period.Recent news developments indicate a surge in investments and collaborations in the natural astaxanthin market. For instance, in 2023, AstaReal announced a partnership with NutraFuels to develop and market astaxanthin-infused sports nutrition products. Furthermore, the growing adoption of vegan and vegetarian diets has fueled the demand for natural astaxanthin as a sustainable and plant-based source of this potent antioxidant.
Natural Astaxanthin Market Segmentation Insights
| Report Attribute/Metric |
Details |
| Market Size 2022 |
3.33(USD Billion) |
| Market Size 2023 |
3.62(USD Billion) |
| Market Size 2032 |
7.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.6% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
JX Nippon Oil Energy Corporation, Solarbio Life Sciences, Nutrex Hawaii, FMC Corporation, Phyton Biotech Inc., RAHN AG, Kemin Industries, Inc., Valensa International, Fuji Chemical Industry Co., Ltd., Algalif, Cyanotech Corporation, AstaReal |
| Segments Covered |
Source, Application, Form, Purity, Grade, Regional |
| Key Market Opportunities |
Rising demand in aquaculture Aging population and increased health awareness Growing applications in food and beverages Technological advancements in extraction processes Increasing consumer preference for natural ingredients |
| Key Market Dynamics |
Rising demand for nutraceuticals Growing popularity of clean-label products Technological advancements in extraction methods Increasing consumer awareness of health benefits Expanding applications in the food and beverage industry |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Natural Astaxanthin Market is estimated to be around 3.62 billion USD in 2023.
The Natural Astaxanthin Market is projected to grow at a CAGR of approximately 8.6% from 2024 to 2032.
Asia-Pacific is expected to dominate the Natural Astaxanthin Market throughout the forecast period.
Natural Astaxanthin finds applications in dietary supplements, food beverages, cosmetics, and animal feed.
Major players in the Natural Astaxanthin Market include DSM, Cyanotech Corporation, Algatechnologies, AstaReal, and Nutrex Hawaii.
The Natural Astaxanthin Market is projected to reach approximately 7.6 billion USD by 2032.
Dietary supplements are expected to hold the largest market share in the Natural Astaxanthin Market.
Factors driving the growth of the market include rising awareness of health benefits, increasing demand for natural ingredients, and growing applications in various industries.
Challenges faced by the market include fluctuations in raw material prices, regulatory compliance, and intense competition.
Opportunities for growth exist in emerging markets, new product development, and technological advancements.
