Astaxanthin

Astaxanthin Market Worth $1.34 Billion by 2030

Global Astaxanthin Market - 20242030 Meticulous Research a leading global market research company, has recently published a comprehensive report titled, Astaxanthin Market by Source (Natural, Synthetic), Form (Dry, Liquid), Method of Production (Chemical Synthesis, Fermentation, Extraction), Application (Food & Beverages, Pharmaceuticals, Nutraceuticals, Animal Feed) - Global Forecast to 2030. The astaxanthin market is projected to achieve a valuation of $1.34 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2030. This growth is largely driven by the increasing awareness and preference for clean-label products, coupled with the rising demand for natural food colors and cosmetics. Additionally, the expanding market for dietary supplements also plays a significant role in propelling the market forward. Emerging economies across Asia-Pacific, Latin America, and the Middle East & Africa present substantial opportunities for market growth. Furthermore, government initiatives aimed at supporting aquaculture are expected to further fuel this market's expansion. However, stringent regulatory and approval norms, along with the high cost of natural astaxanthin, are notable challenges that could hinder market growth. Page 1 of 3 Meticulous Research| sales@meticulousresearch.com

Global Astaxanthin Market - 20242030 The market is segmented by source, form, method of production, application, and geography. Based on source, the market is divided into natural and synthetic astaxanthin. By 2024, the natural segment is anticipated to hold the larger market share, primarily due to its potent antioxidant properties and various health benefits, such as immune support, inflammation reduction, and cognitive health enhancement. The growing demand for natural astaxanthin in nutraceuticals and its higher efficacy compared to synthetic alternatives are key factors driving this segment s growth. In terms of form, the market is categorized into dry and liquid. The dry segment is expected to dominate the market in 2024, owing to its advantages in handling, transportation, and shelf life. Dry astaxanthin also offers better ingredient functionality and stability, making it preferable in industries such as food and beverages, pharmaceuticals, and cosmetics. However, the liquid segment is projected to grow significantly during the forecast period, driven by its increasing use in food & beverage production for improving product attributes like viscosity, mouthfeel, and shelf life. When segmented by method of production, the market includes chemical synthesis, microalgae cultivation, fermentation, and extraction. In 2024, chemical synthesis is expected to account for the largest share due to its low production cost and stability under low pH conditions. Nonetheless, the fermentation segment is expected to witness considerable growth throughout the forecast period, reflecting shifts in consumer preference towards more natural production methods. The astaxanthin market is also segmented by application, covering areas such as food & beverages, nutraceuticals, animal feed, pharmaceuticals, and personal care & cosmetics. The nutraceuticals segment is projected to experience rapid growth from 2024 to 2030, mainly due to astaxanthin s effectiveness in controlling free radicals, which is increasingly sought after in treating health conditions like muscle endurance, gastritis, and cardiovascular diseases. Astaxanthin s antioxidant properties, low side effects, and high nutritional value further solidify its position in the nutraceuticals sector. Geographically, Europe is expected to lead the astaxanthin market in 2024. The region's large market share is attributed to its thriving food & beverage industry, rising health consciousness, increasing feed production, and growing demand for chemical-free cosmetics. Germany, in particular, is projected to be the largest market in Europe, driven by the rising demand for nutritional animal feed and functional beverages & nutraceuticals. Page 2 of 3 Meticulous Research| sales@meticulousresearch.com

Global Astaxanthin Market - 20242030 Key Players: The key players operating in the astaxanthin are Algatechnologies Ltd. (Israel), BASF SE (Germany), BGG (Beijing Gingko Group) (China), Cardax, Inc. (U.S.), Cyanotech Corporation (U.S.), Divi's Laboratories Limited (India), Koninklijke DSM N.V. (Netherlands), Fenchem (China), Fuji Chemical Industries Co., Ltd. (Japan), Valensa International (U.S.), Otsuka Holdings Co., Ltd. (Japan), Piveg, Inc. (U.S.), Vidya Europe SAS (France), Wellgreen Technology Co., Ltd. (China), and Algal f Iceland ehf (Iceland). Download Free Sample Report Here : https://www.meticulousresearch.com/download-sample-report/cp_id=5442 Key Questions Answered in the Report- Which are the high-growth market segments in terms of source, form, method of production, application, and geography? What is the historical market size for astaxanthin across the globe? What are the market forecasts and estimates for the period 2024 2030? What are the major drivers, restraints, and opportunities in the astaxanthin market? Who are the major players in the market, and what are their market shares? Who are the major players in various countries, and what are their market shares? How is the competitive landscape for the astaxanthin market? What are the recent developments in the astaxanthin market? What are the different strategies adopted by the major players in the market? What are the key geographic trends, and which are the high-growth countries? Who are the local emerging players in the astaxanthin market, and how do they compete with other players? Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 3 of 3 Meticulous Research| sales@meticulousresearch.com