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Astaxanthin Market By Source (Natural, Crustaceans, Crabs & Lobsters), Grade (> 98%, 95-97%, < 94%), Form (Powder, Liquid), Production Technology (Chemical Synthesis, Chemical Synthesis), Application (Aquaculture, Dietary Supplements, General Wellbeing) & Region - Forecast to 2020 - 2030

Astaxanthin Market By Source (Natural, Crustaceans, Crabs & Lobsters), Grade (> 98%, 95-97%, < 94%), Form (Powder, Liquid), Production Technology (Chemical Synthesis, Chemical Synthesis), Application (Aquaculture, Dietary Supplements, General Wellbeing) & Region - Forecast to 2020 - 2030

Astaxanthin Market - Analysis, Outlook, Growth, Trends, Forecasts


Astaxanthin is a reddish brown pigment, belonging to a group of chemicals known as carotenoids. It generally occurs naturally in certain algae and induces the red or pink color in trout, salmon, shrimps, lobsters and other seafood. Recently, yeast/fungi based and synthetic astaxanthin have also acquired significant popularity.

Astaxanthin is generally consumed orally and is beneficial for curing several chronic ailments. It has been extensively employed to treat Alzheimer’s disease, Parkinson’s disease, liver malfunctions, high cholesterol and macular degeneration. Various astaxanthin drugs have flooded the market in recent years.

Besides, astaxanthin has also been widely used to treat heart diseases, strokes and male infertility. It can also protect the skin against sunburn and reduce wrinkles. Such widespread applications are likely propel the astaxanthin market forward, expanding robustly at a value CAGR of nearly 14% from 2020-2030.

Preference for Natural Therapy

Growing consciousness about the detrimental impacts regarding consumption of synthetic antioxidants is shifting the status quo towards consumption of natural products. A study on chain smokers in Finland revealed that people who consumed synthetic astaxanthin contracted lung cancer, while the opposite effect was intended.

Also, contamination during the production of synthetic grade astaxanthin could lead to perpetuation of chronic conditions. Therefore, consumers are opting for astaxanthin derived from sources such as seafood, yeast or fungi. This transition is evident across all end users, from food to healthcare and animal feed to aquaculture industries.

Potent Antioxidant Properties

A diet rich in antioxidants reduces risks of many diseases, including cancers and cardiac anomalies. Astaxanthin antioxidants scavenge free radicals from the cells, preventing damage. Studies have concluded that men consuming astaxanthin-based antioxidant foods have highly astronomical odds of developing prostate cancer.

Moreover, astaxanthin helps tighten the skin, retaining moisture and elasticity. This ensures that the skin remains smooth, decreasing fine lines and wrinkles. Furthermore, increased prevalence of alcohol consumption and smoking has accelerated oxidation levels within the human body, necessitating the consumption of astaxanthin rich antioxidants.

The Astaxanthin Alternatives

Contemporary research and trials have led to the emergence of several antioxidant properties boosting alternatives to astaxanthins. Also, an interestingly visible trend is that of preference for plant-based alternatives. This is expected to restrain growth of the market in the forecast period.

Heightening hygiene concerns associated with meat consumption (seafood or otherwise) is compelling consumers to opt for more sustainable options. Fruits such as tomatoes, grapes, blueberries and apples are equally rich sources of antioxidants. Moreover, they are comparatively inexpensive, leading to their heightened consumption.

In addition, green leafy vegetables such as broccoli and spinach are also rich sources of essential vitamins and antioxidants. They possess phytochemicals such as kaempferol, which help dilate blood vessels and may contain anti-carcinogenic properties. Therefore, uptake of meat-derived astaxanthins may register substantial decline.

Global Astaxanthin Market- Regional Overview

North America Astaxanthin Market

The North American astaxanthin market is expected tower over the global landscape. It is anticipated to reach US$ 624.1 Mn by 2030. Extensive campaigns to promote consumption is likely to drive growth in the future. This has motivated several vendors to establish businesses across the U.S and Canadian landscapes.

In 1987, the U.S Food and Drug Administration approved astaxanthin usage in fish feeds across the country’s aquaculture industry. In 1999, the agency also approved the same for consumption as dietary supplements.

The American Heart Association (AHA) Nutrition Committee recommends eating the equivalent of two servings of fatty fish per week to support proper heart functioning. It was discovered that people with little to no food intake had below average intake of astaxanthin.

Also, the Natural Algae Astaxanthin Association (NAXA), a non-profit organization, is promoting awareness regarding the benefits of consuming astaxanthin. All these developments have contributed to North America’s heightened share.

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Europe Astaxanthin Market

The market for natural astaxanthin is expected to remain strong across the 2020-2030 forecast period. The region shall surpass the US$ 1 Bn mark, expanding at a value CAGR of 13.9%. Germany and U.K shall be at the forefront, collectively capturing nearly 2/5th of the market share.

In 2016, China’s Beijing Gingko Group (BGG) received the Novel Food approval from the Food Safety Authority of Ireland for its AstraZine astaxanthin products, thus permitting the giant to foray into lucrative European markets. This venture has been paving the way for the region’s footprint expansion in the global market.

Similarly, in 2008, Algatechnologies, an Israeli company, was provided the green signal to market its AstaPure® natural astaxanthin line for dietary supplements throughout Europe. The UK Foods Standard Agency (FSA) approved the product under European novel food legislations.

Such entry of foreign players has compelled European food safety laws to accommodate the heightening usage of astaxanthin across a range of food & beverage, aquaculture, animal feed and pharmaceutical products.

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South Asia Astaxanthin Market

South Asia promises to be the fastest growing region, registering a value CAGR worth 15% across the forecast period. Aquaculture is the leading application area, attributed to a high proportion of seafood consumption, with India at the forefront. Moreover, a rapidly expanding population has increased antioxidants intake need.

In addition, plant-based astaxanthin is being explored as a viable option to be used in antioxidant formulations across the food & beverages as well as the pharmaceutical industry. In 2016, a team of researchers from Odisha, Eastern India, published a study on extracting astaxanthin from mangrove leaves.

The study concluded that mangroves are a rich source of astaxanthins and a much healthier option of antioxidants consumption, thus opening up new avenues for further study. Players such as Zenith Nutrition already have a good presence in the Indian market, which markets plant based astaxanthin nutraceutical capsules.

In May 2020, Indian origin manufacturer BodyFirst officially introduced its astaxanthin products in the international market with ayurvedic properties. Their primary mode of business is through e-commerce channels. Its key product is the KSM-66 ashwagandha and astaxanthin capsules.

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Astaxanthin Market- Category-wise Insights

Growing Demand for Crustaceans and Microalgae

Demand for natural sources such as crustaceans and microalgae is expected to remain robust throughout the predicted forecast. The segment is anticipated to reach US$ 167.5 Mn by 2030, expanding at a CAGR of 13.9%. Increasing consumption of seafood due to high astaxanthin content is poised to keep the demand strong.

Demand for natural food supplements and growing awareness about the adverse effects of chemical products among consumers can be attributed to the heightened production of natural astaxanthin in the future. High carotenoid yield and low maintenance costs are the key factors contributing to its growth.

95% to 97% Grade Remains Prominent

95-97% grade astaxanthin is slated to emerge as the hegemon, capturing more than 60% market share. Extensive applications across the aquaculture, food & beverage, cosmetics & personal care, dietary supplements and animal feed are expected to keep the demand afloat.

This grade of astaxanthin has been approved by various regulatory authorities worldwide, including the U.S FDA, the European Food Safety Authority (EFSA) and the Food Standards and Safety Authority of India (FSSAI) among others. This range leads to minimum side-effects, thus rendering it safe to consume

Chemically Synthesized Astaxanthin Holds High Market Share

Chemically synthesized astaxanthin is expected to retain its dominance, accounting for more than 4/5th of the market in value terms. The segment is likely to reach a valuation of US$ 855.9 Mn, expanding strongly at a CAGR of 8.2%. Efficiency in extraction is a leading driver behind the expanding share.

However, recent concerns over possible harmful effects have shifted consumer focus towards naturally extracted astaxanthin products. A stupendous 13.4% CAGR has been predicted for the natural extraction segment for the 2020-2030 forecast period.

Aquaculture Applications Remain Supreme

Astaxanthin plays a pivotal role in enhancing the reproducibility, survival and commercial value of aquatic species. Therefore, its adoption in the aquaculture industry is expected to rise in the forthcoming years. Consuming astaxanthin fed seafood also yield benefits to the human body. A share of ~80% is anticipated.

The multifarious benefits in the form of antioxidant inputs is accelerating uptake of astaxanthin in various nutritional and pharmaceutical formulations. Dietary supplements infused with this carotenoid is grabbing major eyeballs across lucrative regions. The segment is expected to grow impressively at a CAGR of 10.2%.

Attributed to its anti-inflammatory and antioxidant properties, natural astaxanthin is slated to play a pivotal role in modulating the immune response by regulating cytokine release among COVID-19 patients. As a consequence, the demand for astaxanthin is poised to remain on a high trajectory across the pandemic’s duration.

A COVID-19 positive patient experiences severe complications in his or her lungs. The virus infects the upper or lower part of the respiratory tract and travels down the airway, eventually reaching the alveoli and severely damage the inner lining of the organ via constant inflammation.

Acute inflammatory disease such as sepsis and acute lung injury (ALI) is a systemic inflammatory syndrome induced by the infection and causes multiple organ failure in extreme cases. Thus, to combat this, natural anti-inflammatory astaxanthin compounds are being considered as a viable option to reduce organ damage.

Therefore, continuous research and development efforts by the medical fraternity is laying fertile ground for the astaxanthin market to flourish in the remainder of the pandemic’s duration. Despite lack of adequate data, researchers are trying their best to incorporate this treatment amongst severely infected patients.

Competitive Intelligence

As manufacturers pursue to decrease the volatility initiated by improbability in the product demand along with fluctuating cost, they are aiming at better control over the supply chain of products to support structural consideration.

Greater focus on flexibility while improving their production capacity is at the core of prominent players within the landscape. Those operating in animal feed, pet food, and food & beverage industries are refining supply chain efficiency, reducing the cost of operations to generate more profit in an extremely competitive environment.

Besides, product launches are given heavy emphasis as they provide the foundation for these players to remain afloat in the market. In addition, partnerships and collaborations also help expand vendors’ product outreach.

In 2018, Algatechnologies, Ltd. became a major shareholder of a New Zealand plant-based natural health food company- Supreme Health, Ltd., to supply Asia-Pacific and China with astaxanthin and other algae-derivative products.

In 2020, BGG declared two main extensions of its farm capacity of astaxanthin as the company has seen a surge in its astaxanthin business lately as brand owners across the globe attempt to incorporate astaxanthin based formulations within their product portfolios.

Other prominent players within the landscape include:

  • Cyanotech Corporation
  • KDI Ingredients
  • Zhejiang NHU Co. Ltd.
  • Fenchem Biotech Ltd.
  • Parry Nutraceuticals
  • Divi’s Laboratories Ltd.
  • Algalif Iceland Ehf.

The list is only indicative – full list of astaxanthin market key players is available upon request.

Astaxanthin Market- Report Scope



Forecast Period


Historical Data Available for


Market Analysis

USD Million for Value and MT for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa

Key Countries Covered

U.S, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, U.K, Spain, Belgium, Netherlands, Luxembourg, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Philippines, Australia, New Zealand, GCC, Turkey, Israel, South Africa and  North & Central Africa

Key Segments Covered

Source, Grade, Form, End-Use and Production Technology

Key Companies Profiled

BASF SE, Divi’s Laboratories Ltd., Cyanotech Corporation, DSM N.V., Parry Nutraceuticals, JXTG Nippon Oil & Energy Corporation, Fuji Chemical Industries Co., Ltd., Kunming Biogenic Co., Ltd., Valensa International Global, Kailu Ever Brilliance Biotechnology Co. Ltd., Algalif Iceland Ehf., Zhejiang NHU Co., Ltd., Atacama Bio Natural Products S.A., Inc., AstaReal Inc., Fenchem Biotek Ltd., Igene Biotechnology, Inc., BGG (Beijing Gingko Group), Cardax, Inc., Algatechnologies Ltd., Algaecan Biotech Ltd., Otsuka Pharmaceutical Co., Ltd., Yunnan Alphy Biotech Co., Ltd, INNOBIO Corporation Limited, Sinoway Industrial Co., ltd., and KDI Ingredients

Report Coverage

Market Overview, COVID-19 Analysis, Price Point Assessment, Value Chain Analysis, Production & Trade Assessment, DROT Analysis, Segmental Overview, Competition Landscape and Regional Profiling 

Customization & Pricing

Available upon Request

Enquiry before Buying

  • Is this research conducted by Future Market Insights?

    Yes, the astaxanthin market research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to our research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • Is a sample of this report available for evaluation?

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Key Segments


  • Natural
  • Crustaceans
  • Crabs & Lobsters
  • Shrimps
  • Prawns & Crawfish
  • Others
  • Microalgae
  • Haematoccocus P.
  • Chlorococcum
  • Chlorella Zofingiensis
  • Schizocytrium Genus
  • Paracoccus
  • Carotinifaciens
  • Yeast/Fungi
  • Synthetic


  • > 98%
  • 95-97%
  • < 94%


  • Powder
  • Liquid

Production Technology

  • Chemical Synthesis
  • Natural Extraction


  • Aquaculture
  • Dietary Supplements
  • General Wellbeing
  • Eye Health
  • Brain Health
  • Immune & Digestive Health
  • Bone & Joint Health
  • Heart Health
  • Other Supplements (Weight Loss, Allergies, etc.)
  • Food & Beverages
  • Personal Care & Cosmetics
  • Skin Care
  • Hair Care
  • Pet Food
  • Eye Health
  • Brain Health
  • Immune & Digestive Health
  • Bone & Joint Health
  • Others
  • Animal Feed

Global/Regional Overview

  • North America (U.S & Canada)
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
  • Europe (Germany, Italy, France, U.K, Spain, BENELUX, Russia, Poland & Rest of Europe)
  • East Asia (China, Japan & South Korea)
  • South Asia (India, Indonesia, Thailand, Malaysia, Singapore, Philippines & Rest of South Asia)
  • Oceania (Australia and New Zealand)
  • Middle East & Africa (GCC, Turkey, Israel, South Africa and North & Central Africa and Rest of MEA)

Key Questions Answered in the Report

How has the Astaxanthin Market fared in the past decade?

The global astaxanthin market was valued at US$ 282.9 Mn in 2010 and acquired a value of US$ 583.8 Mn in 2019. This upsurge was largely a product of rising awareness regarding potential antioxidant properties and effectiveness in eradicating chronic conditions.
According to FMI, the astaxanthin market is slated to expand at an astounding 13.8% CAGR in the 2020-2030. It is anticipated to reach a value of US$ 2.3 Bn by 2030-end.
Transition towards natural therapeutic options to cure chronic ailments as well as increasing prevalence of sedentary lifestyles leading to habits such as smoking and alcohol consumption are expected to pivot the astaxanthin market growth in future.
Availability of plant-based alternatives and volatility in pricing are expected to restrain growth prospects for the market for the 2020-2030 forecast period.
Yes. The COVID-19 pandemic is expected to have an impact on the astaxanthin market. Various healthcare professionals are touting natural astaxanthins as the answer to inhibit the inflammation of respiratory organs by limiting cytokine secretion in infected patients.
The global astaxanthin market is highly competitive in nature, characterized by the presence of multiple vendors. The landscape is replete with product launches, strategic acquisitions and collaborations. Prominent players in the landscape are: BASF SE, Divi’s Laboratories Ltd., Cyanotech Corporation, DSM N.V., Parry Nutraceutical and JXTG Nippon Oil & Energy Corporation to name a few.

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