Astaxanthin Market Size, Latest Trends and Future Outlook 2034
Astaxanthin Market Size- By Product, By Source, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: HLCA25243 | Pages: 1 - 239 | Formats*: |
| Category : Healthcare | |||
Astaxanthin Market Introduction and Overview
According to SPER Market Research, the Global Astaxanthin Market is estimated to reach USD 6.81 billion by 2034 with a CAGR of 15.02%.
The report includes an in-depth analysis of the Global Astaxanthin Market, including market size and trends, product mix, Applications, and supplier analysis. The Global Astaxanthin market was valued at USD 1.69 billion in 2024 and is projected to increase at a compound annual growth rate (CAGR) of XX% between 2025 and 2034. Astaxanthin is commonly used as a food additive for aquatic species like prawns, salmon, trout, and ornamental fish to improve their coloration, which in turn boosts their market value. Beyond enhancing color, it offers several benefits to aquatic animals, including increased stress tolerance, better growth performance, strengthened immune responses, enhanced reproductive abilities, improved survival rates, and greater resistance to diseases. To keep up with the growing demand in the aquaculture sector, leading companies are investing in developing new products and forming strategic partnerships.
By Product Insights
The dried algae meal or biomass segment dominates the astaxanthin market due to its high productivity and cost efficiency. Advanced cultivation techniques, like using alginate hydrogel membranes, have significantly increased biomass yields, making it vital for supplements, animal feed, and cosmetics. It also simplifies extraction, ensuring quality products.
The softgel segment is growing quickly because it improves bioavailability and is easy to consume. Popular in dietary supplements for eye and skin health, softgels protect astaxanthin from oxidation. Increasing awareness of its antioxidant benefits is driving demand for softgel products, supporting market growth.
By Source Insights
The natural astaxanthin segment dominates the market due to its high effectiveness and sustainability, with wide applications in treating diseases like high cholesterol, stroke, Parkinson’s, Alzheimer’s, and cancer. It also benefits skin and eye health by combating conditions such as cataracts and skin aging, thanks to its strong antioxidant properties. Research continues to improve yeast-derived astaxanthin, with studies showing genetically modified yeast as a promising source for shrimp feed.
Meanwhile, the synthetic segment grows steadily because of its purity, consistency, and cost advantages, supporting large-scale production. The aquaculture industry, particularly shrimp farming, prefers synthetic astaxanthin for better feed efficiency, growth, and pigmentation. Studies confirm synthetic variants outperform natural ones in enhancing shrimp quality, making them key to market expansion.
By Application Insights
The aquaculture and animal feed segment leads the astaxanthin market due to its extensive use in enhancing the coloration of shrimp, salmon, and trout, which is a key factor influencing consumer preference. Natural astaxanthin also supports better feed intake and faster growth in aquatic animals. This growing adoption in aquaculture to improve seafood quality strengthens the segment’s position. Additionally, companies like AstaReal are launching innovative products such as Novasta to boost animal health benefits.
Simultaneously, the nutraceutical segment is witnessing rapid growth, driven by increasing demand for natural health supplements and product innovation. Collaborations, like that of Divi’s Nutraceuticals with Algalif in 2023, and regulatory approvals in Europe further promote its use across various age groups.
Regional Insights
North America dominates the astaxanthin market, supported by a robust healthcare infrastructure and increasing demand for natural antioxidants in dietary supplements and cosmetics. The presence of major players like Algatech Ltd and Cyanotech Corporation enhances the region’s market strength. Growing consumer awareness of astaxanthin’s health benefits, along with its rising use in aquaculture and animal feed, fuels further expansion. Additionally, continuous innovations in product development and ongoing research into its therapeutic properties contribute to North America’s strong position in the global astaxanthin industry.
Market Competitive Landscape
The astaxanthin market is highly competitive, with key players focusing on product innovation, sustainable production, and global expansion. Companies are launching new formats like gummies and increasing capacity to meet growing demand for natural health supplements. Some key players are- AlgalÃf Iceland ehf, ALGAMO, Algatech Ltd, Atacama Bio Natural Products S.A., Beijing Gingko Group (BGG), Cyanotech Corporation, E.I.D. – Parry (India) Limited, ENEOS Corporation, Fuji Chemical Industries Co., Ltd, and PIVEG, Inc.
Recent Developments:
- In March 2024, Nutrex-Hawaii, Inc.—a subsidiary of Cyanotech Corporation—launched a new sugar-free gummy form of its popular BioAstin Hawaiian Astaxanthin supplement. Each daily dose contains 12mg of natural Hawaiian astaxanthin. This product aims to boost Cyanotech’s competitive edge by addressing increasing consumer preferences for health-oriented and easy-to-consume supplements.
- In April 2023, Algalif shared an update on the construction of its eco-friendly astaxanthin production plant in Iceland, covering 12,500 square meters. The $30 million expansion, which began in mid-2021, is on track to be completed by the end of 2023. This major development reflects Algalif’s strategic focus on scaling production to meet rising international demand for premium astaxanthin.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Product, By Source, By Application |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | AlgalÃf Iceland ehf, ALGAMO, Algatech Ltd, Atacama Bio Natural Products S.A., Beijing Gingko Group (BGG), Cyanotech Corporation, E.I.D. – Parry (India) Limited, ENEOS Corporation, Fuji Chemical Industries Co., Ltd, and PIVEG, Inc. |
Key Topics Covered in the Report
- Global Astaxanthin Market Size (FY’2021-FY’2034)
- Overview of Global Astaxanthin Market
- Segmentation of Global Astaxanthin Market By Product (Natural, Synthetic)
- Segmentation of Global Astaxanthin Market By Source (Dried Algae Meal or Biomass, Oil, Softgel, Liquid, Others)
- Segmentation of Global Astaxanthin Market By Application (Nutraceuticals, Cosmetics, Aquaculture and Animal Feed, Food, Others)
- Statistical Snap of Global Astaxanthin Market
- Expansion Analysis of Global Astaxanthin Market
- Problems and Obstacles in Global Astaxanthin Market
- Competitive Landscape in the Global Astaxanthin Market
- Details on Current Investment in Global Astaxanthin Market
- Competitive Analysis of Global Astaxanthin Market
- Prominent Players in the Global Astaxanthin Market
- SWOT Analysis of Global Astaxanthin Market
- Global Astaxanthin Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Global Astaxanthin Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Astaxanthin Market
7. Global Astaxanthin Market, By Source (USD Million) 2021-2034
- 7.1. Natural
- 7.2. Synthetic
8. Global Astaxanthin Market, By Product (USD Million) 2021-2034
- 8.1. Dried Algae Meal or Biomass
- 8.2. Oil
- 8.3. Softgel
- 8.4. Liquid
- 8.5. Others
9. Global Astaxanthin Market, By Application (USD Million) 2021-2034
- 9.1. Nutraceuticals
- 9.2. Cosmetics
- 9.3. Aquaculture And Animal Feed
- 9.4. Food
- 9.5. Others
10. Global Astaxanthin Market, (USD Million) 2021-2034
- 10.1. Global Astaxanthin Market Size and Market Share
11. Global Astaxanthin Market, By Region, (USD Million) 2021-2034
- 11.1. Asia-Pacific
- 11.1.1. Australia
- 11.1.2. China
- 11.1.3. India
- 11.1.4. Japan
- 11.1.5. South Korea
- 11.1.6. Rest of Asia-Pacific
- 11.2. Europe
- 11.2.1. France
- 11.2.2. Germany
- 11.2.3. Italy
- 11.2.4. Spain
- 11.2.5. United Kingdom
- 11.2.6. Rest of Europe
- 11.3. Middle East and Africa
- 11.3.1. Kingdom of Saudi Arabia
- 11.3.2. United Arab Emirates
- 11.3.3. Qatar
- 11.3.4. South Africa
- 11.3.5. Egypt
- 11.3.6. Morocco
- 11.3.7. Nigeria
- 11.3.8. Rest of Middle-East and Africa
- 11.4. North America
- 11.4.1. Canada
- 11.4.2. Mexico
- 11.4.3. United States
- 11.5. Latin America
- 11.5.1. Argentina
- 11.5.2. Brazil
- 11.5.3. Rest of Latin America
12. Company Profile
- 12.1. AlgalÃf Iceland ehf
- 12.1.1. Company details
- 12.1.2. Financial outlook
- 12.1.3. Product summary
- 12.1.4. Recent developments
- 12.2. ALGAMO
- 12.2.1. Company details
- 12.2.2. Financial outlook
- 12.2.3. Product summary
- 12.2.4. Recent developments
- 12.3. Algatech Ltd
- 12.3.1. Company details
- 12.3.2. Financial outlook
- 12.3.3. Product summary
- 12.3.4. Recent developments
- 12.4. Atacama Bio Natural Products S.A.
- 12.4.1. Company details
- 12.4.2. Financial outlook
- 12.4.3. Product summary
- 12.4.4. Recent developments
- 12.5. Beijing Gingko Group (BGG)
- 12.5.1. Company details
- 12.5.2. Financial outlook
- 12.5.3. Product summary
- 12.5.4. Recent developments
- 12.6. Cyanotech Corporation
- 12.6.1. Company details
- 12.6.2. Financial outlook
- 12.6.3. Product summary
- 12.6.4. Recent developments
- 12.7. E.I.D. – Parry (India) Limited
- 12.7.1. Company details
- 12.7.2. Financial outlook
- 12.7.3. Product summary
- 12.7.4. Recent developments
- 12.8. ENEOS Corporation
- 12.8.1. Company details
- 12.8.2. Financial outlook
- 12.8.3. Product summary
- 12.8.4. Recent developments
- 12.9. Fuji Chemical Industries Co., Ltd
- 12.9.1. Company details
- 12.9.2. Financial outlook
- 12.9.3. Product summary
- 12.9.4. Recent developments
- 12.10. PIVEG, Inc.
- 12.10.1. Company details
- 12.10.2. Financial outlook
- 12.10.3. Product summary
- 12.10.4. Recent developments
- 12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Astaxanthin Market is projected to reach USD 6.81 billion by 2034, growing at a CAGR of 15.02% during the forecast period.
Astaxanthin Market grew in Market size from 2025. The Market is expected to reach USD 6.81 billion by 2034, at a CAGR of 15.02% during the forecast period.
Astaxanthin Market CAGR of 4.18% during the forecast period.
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Astaxanthin Market size is USD 6.81 billion from 2025 to 2034.
Astaxanthin Market is covered By Product, By Source, By Application
North America is anticipated to have the highest Market share in the Astaxanthin Market.
AlgalÃf Iceland ehf, ALGAMO, Algatech Ltd, Atacama Bio Natural Products S.A., Beijing Gingko Group (BGG), Cyanotech Corporation, E.I.D. – Parry (India) Limited, ENEOS Corporation, Fuji Chemical Industries Co., Ltd, and PIVEG, Inc.
The report includes an in-depth analysis of the Global Astaxanthin Market, including market size and trends, product mix, Applications, and supplier analysis
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