Astaxanthin Market Size, Share, Industry Overview, Latest Insights and Forecast 2025-2033

Astaxanthin Market Size, Trends, Key Players, Analysis and Forecast 2025-2033

Astaxanthin Market 2025: Size, Share, Growth Factors, Analysis and Forecast to 2033

IMARC Group, a leading market research company, has recently released a report titled "Astaxanthin Market Report by Source (Natural, Synthetic), Product (Dried Algae Meal or Biomass, Oil, Softgel, Liquid, and Others), Application (Nutraceuticals, Cosmetics, Aquaculture and Animal Feed, and Others), and Region 2025-2033." The study provides a detailed analysis of the industry, including the global astaxanthin market share, size, growth, trends, and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

MARKET OVERVIEW

The global astaxanthin market was valued at USD 874.2 Million in 2024 and is projected to reach USD 1,628.8 Million by 2033, registering a CAGR of 6.8% during the forecast period from 2025 to 2033. The market growth is driven by factors such as an aging population, increasing consumer health awareness, rising demand for natural ingredients, and advances in production technologies.

STUDY ASSUMPTION YEARS

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

ASTAXANTHIN MARKET KEY TAKEAWAYS

• The global astaxanthin market size was USD 874.2 Million in 2024.
• Expected CAGR of 6.8% for the period 2025-2033.
• Forecast market value of USD 1,628.8 Million by 2033.
• Increasing prevalence of diseases like diabetes, cancer, cognitive, and cardiovascular problems propels market growth.
• Cost-effective technologies reducing water wastage and electricity consumption support market expansion.
• Rising nutritional deficiencies and demand for dietary supplements boost industry demand.
• Asia Pacific dominates the market due to middle class growth and health supplement spending.

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MARKET GROWTH FACTORS

Common prevalence of chronic diseases such as diabetes, cancer, cognitive diseases, and cardiovascular diseases is a major driver of the global astaxanthin market, as there is a need for supplementation to protect against these diseases. Adoption of cost-effective technology by market manufacturers to reduce water and electricity consumption in production processes is expected to drive market demand.

Consumer demand for dietary supplements is increasing along with an increase in nutritional deficiencies worldwide, and demand for astaxanthin within this market is further supported by its utilization as a food additive and food color for the food and beverage industry worldwide. Driven by health consciousness, food products are being developed with improved nutritional value and functionality.

One of the primary market drivers includes the fast-growing geriatric population. The global population aged 60 and over will increase in proportion sharply through 2030. Some people take astaxanthin to improve quality of life and support skin health, particularly older adults because of these antioxidant and anti-aging properties.

MARKET SEGMENTATION

Breakup by Source:

• Natural
  • Yeast
  • Krill/Shrimp
  • Microalgae
  • Others
• Synthetic

Synthetic astaxanthin holds the majority market share owing to its cost-effectiveness and customization capabilities across applications such as supplements, cosmetics, and animal feed.

Breakup by Product:

• Dried Algae Meal or Biomass
• Oil
• Softgel
• Liquid
• Others

Dried algae meal or biomass dominates, primarily sourced from microalgae such as Haematococcus pluvialis known for high astaxanthin content and sustainability in production.

Breakup by Application:

• Nutraceuticals
• Cosmetics
• Aquaculture and Animal Feed
• Others

Aquaculture and animal feed segment accounts for the largest market share, due to astaxanthin's role in enhancing coloration and quality of seafood like salmon, trout, and shrimp.

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia-Pacific currently leads the global astaxanthin market due to a rising middle class and increasing health supplement consumption in China and India. In 2019, China had 254 million people aged 60 or older, expected to reach 402 million by 2040, comprising about 28% of the population. This demographic shift drives demand for wellness supplements like astaxanthin with benefits for skin, eye health, and overall wellness.

RECENT DEVELOPMENTS & NEWS

• August 2024: Veta launched two new products, 'Astaxanthin Collagen Pomegranate' and 'Lutein Blackcurrant Shot' targeting next-generation lifestyle needs.
• June 2024: Embryolisse introduced Soin Blush de Peau Abricot Lumière, a detoxifying gel-cream containing red pigments from organic astaxanthin to provide a healthy glow.
• March 2024: Kuehnle AgroSystems raised US$ 3 Million in Series A2 funding from S2G Ventures to accelerate commercialization of natural astaxanthin manufacturing processes from microalgae.

KEY PLAYERS

• Algatech LTD (Société La Biochimie Appliquée SA)
• BASF SE
• Beijing Gingko Group
• Cardax Inc
• Cyanotech Corporation
• Divi's Laboratories Limited
• E.I.D. - Parry (India) Limited (Murugappa Group)
• Fenchem Biotek Ltd
• Fuji Chemical Industries Co. Ltd.
• Koninklijke DSM N.V.
• Piveg Inc

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