Astaxanthin Market In-depth Insights, Revenue Details, Regional Analysis by 2034
According to Future Market Insights (FMI), global astaxanthin
sales are estimated to be worth USD 273.2 million in
2024. The market is expected to reach USD 665.0 million by
2034. It is projected to surge at a CAGR of 9.3% in the
forecast period 2024 to 2034.
Astaxanthin’s increasing demand is driven by its use in
aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food
& beverages industries. It is widely used as a food ingredient for prawns
and fish to enhance coloration and commercial value.
Astaxanthin benefits aquatic animals by increasing stress
tolerance, performance, immune-related gene expressions, reproductive capacity,
survival, and disease resistance. The market is expected to rise due to the
consistent demand from the food industry, where astaxanthin is used as a food
additive due to its health benefits, such as anti-inflammatory effects and
prevention of cardiovascular diseases. Studies have shown that astaxanthin is
set to prevent photo-aging, improve sleep, minimize obesity, protect the vocal
cord, combat depression, and increase sperm motility.
Natural alternatives are gaining traction due to a number of
factors, including greater awareness of the harmful effects of chemicals and
expanding usage of synthetic ingredients in topical & culinary items. As a
result, leading companies are implementing tactics, including the introduction
of new products and alliances with key manufacturers in several sectors to
boost the market share of natural astaxanthin-based products.
Information Source:
https://www.futuremarketinsights.com/reports/astaxanthin-market
Key Takeaways from the Astaxanthin Market Report:
- The
global astaxanthin market is expected to reach a valuation
of US$ 665.0 million by 2034.
- Japan
is projected to hold a dominant value share of 3.5% by
2034.
- The
United States astaxanthin market is projected to reach a valuation
of US$ 177.6 million by 2034.
- India’s
astaxanthin market is projected to reach US$ 43.0 million by
2034.
- Germany
is set to hold a dominant value share of 4.1% by 2034.
“The astaxanthin market is experiencing
innovation as dietary lutein becomes a potential substitute in the market.
Leading companies are incorporating lutein-rich sources into formulations,
highlighting a trend toward diversification. They are also exploring
alternative natural compounds.” – says a lead analyst at Future
Market Insights (FMI).
Competitive Landscape
BASF SE, Divi’s Laboratories Ltd., Cyanotech Corporation,
DSM N.V., Parry Nutraceuticals, and JXTG Nippon Oil & Energy Corporation
are key astaxanthin manufacturers listed in the report. Leading companies are
concentrating on broadening their portfolios by launching new products. They
also use strategies such as advertisements, partnerships, acquisitions,
agreements, and mergers to stay relevant in the market.
For instance,
- In
2020, BGG declared two key extensions of its farm capacity of
astaxanthin as the company has seen a surge in its astaxanthin sales
lately.
Key Companies Profiled
- BASF
SE
- Divi’s
Laboratories Ltd.
- Cyanotech
Corporation
- DSM
N.V
- Parry
Nutraceuticals
- JXTG
Nippon Oil & Energy Corporation
- Fuji
Chemical Industries Co., Ltd.
- Kunming
Biogenic Co., Ltd.
- Valensa
International Global
- Kailu
Ever Brilliance Biotechnology Co. Ltd.
- Algalif
Iceland Ehf
- Zhejiang
NHU Co., Ltd.
- Atacama
Bio Natural Products S.A., Inc.
- AstaReal
Inc
- Fenchem
Biotek Ltd.
- Igene
Biotechnology, Inc.
- BGG
(Beijing Gingko Group)
- Cardax,
Inc.
- Algatechnologies
Ltd.
- Algaecan
Biotech Ltd.
- Otsuka
Pharmaceutical Co., Ltd.
- Yunnan
Alphy Biotech Co., Ltd.
- INNOBIO
Corporation Limited.
- Sinoway
Industrial Co., Ltd.
- KDI
Ingredients
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides
an unbiased analysis of the global astaxanthin market, presenting historical
demand data (2019 to 2023) and forecast statistics for the period from 2024 to
2034.
The study incorporates compelling insights on the
astaxanthin market based on species type (haematococcus pluvialis,
chlorococcum, chlorella zofingiensis), production technology (chemical
synthesis, natural extraction), form (tablets, soft gel capsules, powder,
liquid), grade (>=98%, 95%-97%, <=94%), application (aquaculture, dietary
supplements, food & beverages, personal care & cosmetics, pet food),
and region.
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