Astaxanthin Market is to Touch $1.53 Billion by 2030; The increasing demand for Astaxanthin across various applications such as dietary supplement, cosmetics, animal feed and aquaculture propels market growth.

The Astaxanthin Market size is estimated to reach $1.53 Billion by 2030, growing at a CAGR of 9.1% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Astaxanthin Market –By Source (Natural production and Synthetic production (Bacteria)), By Production Mechanism (Microalgae Cultivation, Fermentation, Extraction and Chemical Synthesis), By Product Type (Dried algae meal/biomass, Astaxanthin Oil, Soft-gel, Astaxanthin Tablets, Astaxanthin Powder, Carotenoid Complexes, Synthetic Astaxanthin, Liquid, Others), By Application (Dietary supplement, Cosmetics, Animal feed and aquaculture, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”

Rising demand in the nutraceuticals industry and technological advancements in natural production are fueling the growth of the Astaxanthin industry during the forecast period.

North America accounted for the largest share in 2023 of the Astaxanthin market due to the region's advanced nutraceutical and dietary supplement industry, which has increasingly embraced astaxanthin for its antioxidant and anti-inflammatory properties. The growing health-conscious consumer base in the U.S. and Canada is driving demand for natural health supplements, where astaxanthin is marketed for its ability to support cardiovascular health, reduce oxidative stress, and improve skin health. Additionally, the region's well-established aquaculture industry, particularly in the U.S., significantly contributes to the demand for astaxanthin in fish feed, particularly for enhancing the pigmentation and health of farmed salmon. Moreover, North America leads in research and development, with innovations in natural astaxanthin extraction from microalgae, boosting its availability and adoption. The region’s regulatory environment also favors natural antioxidants in food, supplements, and cosmetics, further supporting its dominance in the global astaxanthin market.

Astaxanthin is gaining significant traction within the nutraceuticals market due to its potent antioxidant properties. The growing consumer inclination toward health and wellness products, especially those with natural ingredients, is fueling its demand. Astaxanthin is increasingly being recognized for its ability to reduce oxidative stress, improve skin health, and support cardiovascular functions. As the nutraceuticals industry expands, driven by rising awareness of preventive healthcare, the demand for astaxanthin as a dietary supplement is expected to surge. Moreover, the trend of self-medication and the preference for over-the-counter health supplements is promoting its use in functional foods and beverages. In September 2023, The European Commission has approved a change in the specifications of the novel food astaxanthin-rich oleoresin from Haematococcus pluvialis algae. This Regulation authorizes lower minimum specification limits for protein and astaxanthin (ATX) monoesters, and increased maximum specification limits for relative amounts of ATX diesters and 9-cis stereoisomers in total ATX. The product's recognition as a ‘super-antioxidant’ is positioning it as a vital component of the nutraceutical landscape, fostering market growth over the next few years.

With consumers increasingly favoring natural ingredients, the demand for naturally derived astaxanthin is rising. The market is seeing technological advancements in the cultivation of microalgae, particularly Haematococcus pluvialis, which is the primary source of natural astaxanthin. Innovations in bioreactor technologies, cost-effective algae farming, and efficient extraction methods are making natural astaxanthin production more scalable and sustainable. This shift toward natural production is further supported by regulatory approvals in key markets such as the US and Europe, where synthetic astaxanthin faces regulatory scrutiny. For instance, in December 2020, BASF and Adifo Software will launch a new digital solution for the animal agriculture value chain by integrating sustainability analytics powered by BASF’s AgBalance® Live­stock project into Adifo’s BESTMIX® feed formulation software. As a result, companies are investing in research and development to enhance the quality and yield of natural astaxanthin, making it a dominant force in the market over synthetic variants.

Key companies profiled in the Astaxanthin Market are Cyanotech Corporation, AstaReal Group, Algatechnologies Ltd., Parry Nutraceuticals, Saga Natura, Beijing Gingko Group, Algae Health Sciences, C.F.M. Co. Farmaceutica Milanese, Valensa International, Divis Nutraceuticals, Koninklijke DSM N.V., ENEOS Holdings, Inc., BASF SE, Biogenic Co., Ltd., Otsuka Holdings Co. Ltd. and others.