Global Astaxanthin Market to Reach $1 Billion by 2030, Driven by Growing Demand in Aquaculture and Functional Foods


Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Astaxanthin: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Astaxanthin estimated at US$613.3 Million in the year 2022, is projected to reach a revised size of US$1 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030.

Synthetic, one of the segments analyzed in the report, is projected to record 6.3% CAGR and reach US$593.9 Million by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Natural segment is readjusted to a revised 6.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $120 Million, While China is Forecast to Grow at 7.8% CAGR

The Astaxanthin market in the U.S. is estimated at US$120 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$247.3 Million by the year 2030 trailing a CAGR of 7.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.

Select Competitors (Total 56 Featured) -

  • Algaecan Biotech Ltd
  • Algatechnologies Ltd
  • AstaReal, Inc
  • AstaSupreme
  • BASF SE
  • Beijing Gingko Group Co Ltd
  • Cardax, Inc
  • Cyanotech Corporation
  • Divi's Laboratories Limited
  • Fenchem Biotek Ltd
  • Fuji Chemical Industries Co., Ltd
  • Koninklijke DSM N.V
  • Otsuka Pharmaceutical
  • Parry Nutraceuticals
  • Piveg, Inc.
  • Valensa International

Key Attributes:

Report AttributeDetails
No. of Pages393
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$613.3 Million
Forecasted Market Value (USD) by 2030$1000 Million
Compound Annual Growth Rate6.3%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and a Looming Global Recession
  • Focus on Nutrition and Immunity Presents Opportunity for Functional Foods & Supplements
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • An Introduction to Astaxanthin
  • Natural & Synthetic Sources
  • Uses and Benefits of Astaxanthin
  • Nutraceuticals, Dietary Supplements and Feed Additives Demand to Provide the Foundation for Growth in the Astaxanthin Market
  • Feed Emerges as the Major Application Segment
  • Rising Demand for Astaxanthin from Developing Countries
  • Competition
  • World Brands
  • Recent Market Activity
  • Astaxanthin - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Significant Benefits of Astaxanthin in Varied End-Use Industries to Boost Market Prospects
  • Natural Astaxanthin Demand Grows Led by Rising Consumer Preference for Natural Products
  • Extensive Usage of Astaxanthin as a Prominent Ingredient in Aquafeed Market Forms a Strong Basis for Growth
  • With Fish Color Becoming a Critical Factor for Customers, Astaxanthin Emerges as a Vital Ingredient for Aquaculture Industry
  • Growing Relevance of Live Feeds in Aquaculture for Fish Pigmentation & Development Fuels Astaxanthin Market
  • COVID-19 Pandemic's Devastating Impact on Aquaculture Industry Affects Fish Food Market, Impacting Demand for Astaxanthin
  • Global Aquaculture Production (in Mt) for the Years 2011 through 2027
  • Global Fish Production (In Thousand Tonnes) by Aquaculture and Capture Fisheries for the Years 2019, 2021, 2023, 2025 and 2027
  • Global Per Capita Fish Consumption (in Kg per Capita) by Region for 2019
  • Government Support for Aquaculture Industry Provides Growth Impetus
  • Growing Demand for Natural Food Coloring Agents Offers Immense Growth Opportunities for Natural Astaxanthin in F&B Industry
  • Global Food Colors Market Size (in US$ Billion) for the Years 2020, 2022, 2025 and 2027
  • Growing Demand for Nutraceuticals & Supplements Creates a Strong Foundation for the Growth of Astaxanthin
  • Global Dietary Supplements Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
  • Health & Wellness Trend Catalyzes Growth of Functional Foods & Drinks, Presenting Opportunities for Astaxanthin Market
  • Global Functional Foods and Drinks Market Size (in US$ Thousand) by Region for the Years 2020 & 2027
  • Innovations and Advancements to Boost Market Prospects
  • Increasing Preference for Natural Ingredients in Healthcare Drives Demand for Astaxanthin
  • Astaxanthin Holds Potential in Improving Cardiovascular Functioning
  • Astaxanthin-Tocotrienols Combination Provides Greater Cognitive Benefits
  • Increasing Expenditure on Personal Care and Cosmetic Products Propels Market Growth
  • Growing Sales of Natural and Organic Cosmetic Products: Potential for Growth
  • Global Natural Cosmetics Market: Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Anti-Aging Benefits of Astaxanthin Propels Market Growth in the Cosmetics Industry
  • Expanding Anti-Aging Products Market Drives Demand for Natural Astaxanthin: Global Anti-Aging Cosmetics Market for the Years 2018, 2020, 2022 and 2024
  • Study Finds Astaxanthin to Protect Skin from UV-Related Damage
  • Demographic & Socio-Economic Factors Influence Market Prospects
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Urbanization Phenomenon
  • World Urban Population in Thousands: 1950-2050P
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Middle Class Population
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/eam40p

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Global Market for Astaxanthin

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