Astaxanthin Market

The global astaxanthin market is foreseen to grow at 8.1%, from USD 623.8 Million in 2021 to USD 1163.2 Million in 2029. Rising consumer inclination toward preventive healthcare & nutraceuticals, rapid industrialization of the feed industry, increasing demand for cosmetic products are the factors driving the growth of the global astaxanthin market. However, high cost of production of natural astaxanthin, lack of R&D activities in the underdeveloped countries has seen restraint in the market growth for the estimated period.

Market Definition

What is Astaxanthin?

Astaxanthin is a red pigment that belongs to a group of chemicals called carotenoids. It occurs in certain algae and causes the pink-red color in salmon.

Market Overview

The astaxanthin market research study helps to thoroughly understand the current trend in the market, competitive analysis of the players in the emerging market. Moreover, the DRO in the astaxanthin market offers valuable perspicuity and a current scenario for making the right decision. The research study covers the eminent players in the market with a detailed analysis of the company and a financial overview containing their net sales, business mix and geographical reach. It mainly focuses on the key developments of the products/services offered by the company in recent years. Besides, we at Zettabyte have the expertise to analyse the global astaxanthin market player's competitive landscape, helping the client comprehend their specific strategic growth approaches.

Astaxanthin Market study by "Zettabyte Analytics" offers details about the market scope, market segmentation, technological advancement in the Astaxanthin market and highlights the optimistic, competitive landscape and trends enduring over the years.

Major players in the astaxanthin market include Koninklijke Dsm N.V., Basf SE, Cyanotech Corporation, Otsuka Holdings Co., Ltd., Divi’S Laboratories Ltd., Valensa International, Fuji Chemical Industries Co., Ltd., Beijing Gingko Group, Cardax, Inc., Piveg, Inc., Fenchem Biotek Ltd., Algatech Ltd., Supreme Biotechnologies, Igene Biotechnology Inc., Algamo, Biogenic Co., Ltd., Astamaz Nz Ltd., Algalif, Algae To Omega, Algae Health Sciences, Inc.

COVID-19 Impact on Global Astaxanthin Market

The global impact of COVID-19 has lost millions of lives with a massive cost to the healthcare system. Moreover, the treatment cost for patients with COVID-19 has also had a financial impact globally. The impact of COVID-19 on the Astaxanthin Market has forced the companies to change their sourcing, pricing, and promotion strategies. The Astaxanthin Market players are seen focusing more on optimizing the E-commerce networks with the rising innovations in the digital sector, which are creating new business models for the food and beverage industry player.

Research Scope

The report provides market value for the base year 2021 and a yearly forecast from 2022 to 2029 in revenue (USD Million/ Billion). The market for each segment is present in North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the regional basis for the forecast mentioned above.

Key industry dynamics, regulatory scenarios, major material dynamics and Astaxanthin' future markets are analyzed to understand their impact on demand for the forecast period. Growth rates have been estimated using correlation, regression and time-series analysis.

Market Segmentation

For the purpose of this report, the global astaxanthin market is segmented on the basis of source, product type, grade, form, application and region:

Source Outlook:

On the basis of source, the market is segmented into natural, synthetic.

Figure 1 - Astaxanthin Market, By Source (Market Size And Forecast By Value - USD Million, 2021 & 2029)