Astaxanthin Market Size, Share & Trends Analysis Report By Product (Oil, Softgel, Liquid), By Source (Natural, Synthetic), By Application (Aquaculture & Animal Feed, Nutraceuticals), By Region, And Segment Forecasts, 2025 - 2030

Astaxanthin Market Summary

It is widely used as a food ingredient for prawns and fishes such as salmon, trout, and ornamental fishes to enhance their coloration and increase commercial value. Other benefits for aquatic animals include growth in stress tolerance, performance, immune-related gene expressions, reproductive capacity, improvement in survival, and disease resistance. Major players are focusing on new product developments and collaborative agreements to meet the increasing demand in aquaculture.

The rising awareness about nutrition for a healthy lifestyle and the increasing preference for dietary supplements owing to the high hospitalization cost are projected to drive the demand for nutraceuticals & natural antioxidants. The market players are significantly increasing their production capacities to compete with the growing demand for nutraceutical products. For instance, in April 2023, Algalif announced that its 12,500 m² sustainable natural astaxanthin production facility in Iceland was progressing as planned. The USD 30 million expansion, initiated in summer 2021, is expected to be fully operational by the end of 2023. Furthermore, in April 2022, Beijing Gingko Group announced a second expansion of its pristine region’s astaxanthin farm capacity within a span of 2 years, which is expected to maximize its production capacity. Algatech Ltd. increased its production capacity threefold for FucoVital, a product derived from brown algae, to fulfill the increasing demand for the dietary supplements market.

The introduction of advanced technologies to increase astaxanthin production is expected to boost market growth. For instance, in March 2024, Kuehnle AgroSystems (KAS) secured USD 3 million in Series A2 funding, led by S2G Ventures. This investment aims to accelerate the commercialization of KAS’s innovative approach to producing natural astaxanthin. Utilizing a patented dark fermentation process, KAS offers a solution that delivers higher yields, lower costs, and reduced resource consumption compared to conventional methods. This advancement supports the shift from synthetic to natural, addressing a market valued at USD 3.7 billion and driven by increasing consumer preference for natural, sustainable products.

Increasing concerns about the adverse effects of chemicals and the growing use of synthetic additives in edible products and topical applications are some of the factors responsible for the increasing adoption of natural alternatives. In August 2024, a study published in the Journal of Ovarian Research highlighted that astaxanthin (AST) supplementation could enhance assisted reproductive technology (ART) outcomes. The research found that AST improves oocyte quality and reduces oxidative stress (OS) in reproductive organs, supporting its role in promoting reproductive health. Astaxanthin's demonstrated ability to enhance oocyte quality and minimize oxidative damage reinforces its potential for pharmaceutical applications. As oxidative stress is a key factor in many health conditions, astaxanthin could see broader adoption in treatments for reproductive and other oxidative stress-related disorders.

Market Concentration & Characteristics

The astaxanthin industry showcases a high degree of innovation, with companies developing novel formulations and sustainable production methods. For example, Sirio Europe (SIRIO) revealed in August 2023 its plan to introduce two new softgel products targeting the pharmaceutical sector during the CPHI Barcelona 2023 event.

The astaxanthin industry is also characterized by a high level of merger and acquisition (M&A) activity by the leading players. In January 2022, ENEOS Corporation disclosed its acquisition of Ecocert Inputs Attestation, a globally recognized certification organization. This strategic move strengthens ENEOS' position in the astaxanthin industry, particularly for Panaferd-AX. The merger reflects the company's commitment to quality and international standards, contributing to the evolution of the industry.

The astaxanthin industry is also subject to regulatory scrutiny. Under DSHEA, dietary supplements such as astaxanthin are considered food products rather than drugs and therefore do not require premarket approval by FDA. However, supplement manufacturers are still required to ensure that their products are safe and accurately labeled. The FDA has the authority to take enforcement action against any supplement product that is found to be unsafe or misbranded.

The market is witnessing innovation as dietary lutein emerges as a potential substitute. Companies are exploring the incorporation of lutein-rich sources into formulations, tapping into its antioxidant properties. This shift underscores a trend towards diversification and the exploration of alternative natural compounds within the dynamic astaxanthin industry.

End-user concentration in the astaxanthin industry is evident in the rising demand from sectors like nutraceuticals, cosmetics, and aquaculture. For instance, cosmetic companies are increasingly incorporating astaxanthin for its skin health benefits, showcasing a targeted approach by end-users to leverage the unique properties of this potent antioxidant for specific applications.

Source Insights

The natural segment held the largest revenue share of 58.45% in 2024 and is anticipated to grow at the fastest CAGR during the forecast period, owing to advantages such as high efficacy and sustainability. Currently, it is used to treat hypercholesterolemia, stroke, Parkinson’s disease, Alzheimer’s disease, and cancer. Moreover, natural astaxanthin has very good effects on the skin and eye, as many studies reported the use of these products in treatment of ophthalmic diseases such as cataracts, uveitis, & glaucoma and skin photo-aging treatments, as it has 10 times higher free radical inhibitory action than other antioxidants. Moreover, ongoing research activities to enhance the quality and usage of yeast-derived products are expected to boost segment growth. For instance, in February 2023, according to research by China Medical University Hospital, National Chung Hsing University, and National Taiwan Ocean University, genetically modified yeast could be a promising source of astaxanthin for shrimp feeds.

The synthetic segment is expected to grow at a healthy CAGR during the forecast period due to its high purity, batch consistency, and cost-effectiveness, meeting large-scale production demands. Advancements in production methods and regulatory support will further drive adoption. The aquaculture industry, particularly shrimp farming, relies on synthetic variants to improve feed efficiency, growth performance, pigmentation, and product quality. A study in Aquaculture Reports (December 2023) confirmed synthetic variants’ superior performance over natural ones in enhancing shrimp growth and pigmentation, promoting them as a sustainable, economical feed additive. This positions synthetic products as a key driver for market expansion.

Product Insights

Dried algae meal or biomass accounted for the largest share of 25.12% in 2024 due to its high yield and cost-effectiveness. A December 2024 study in the International Journal of Biological Macromolecules demonstrated that using an alginate hydrogel membrane (AHM) with cotton gauze for cultivating Haematococcus pluvialis increased productivity by 70.8%, with a 55.2% improvement over conventional methods. This advanced technique optimizes cultivation parameters, such as light intensity and inoculum density, enhancing biomass yield and reducing production costs. The segment's scalability and efficiency make it crucial for meeting rising demand in industries such as supplements, animal feed, and cosmetics. In addition, dried biomass simplifies downstream extraction, ensuring high-quality products reinforcing its market dominance.

The softgel segment is projected to grow at a high rate during the forecast period due to its ability to enhance bioavailability and simplify consumption. The segment benefits from increased demand for dietary supplements and the rising use of the ingredient in nutraceutical applications, including eye and skin health. The format’s capability to protect the ingredient from oxidation supports its market acceptance. In addition, the growing awareness of its functional properties, particularly its role in antioxidant support, is expected to drive the segment's growth, making it a significant contributor to the overall market.

Application Insights

The aquaculture & animal feed segment held the largest share of 46.07% in 2024, owing to its extensive use as a feed additive. Natural variants are used as feed to induce reddish pigmentation in salmon, trout, and shrimp, which is an important factor driving consumer preference. The oil can also increase feed uptake, resulting in faster growth of shrimp. Thus, the increasing adoption of these products in the aquaculture industry for improving seafood quality is contributing to the segment’s significant share in the market. In addition, key players are introducing novel products for animal feed with medical benefits. For instance, in July 2022, AstaReal introduced Novasta, an ingredient designed for use in animal feed. This product launch expands the potential for health-enhancing applications in the field of animal nutrition.

The nutraceutical segment is projected to grow rapidly due to increasing demand for natural variants and continuous product innovations by key players. In October 2023, Divi’s Nutraceuticals collaborated with Algalif to introduce highly concentrated beadlets. In addition, the European Commission approved the use of oleoresin-rich products in food supplements for younger age groups, with dosage guidelines ranging from 2.3 mg/day for children to 8 mg/day for adults. These advancements address rising consumer interest in preventative health solutions, driving the adoption of these products in nutraceutical applications across diverse age groups.

Regional Insights

North America astaxanthin market accounted for the largest share of 35.27% in 2024 due to its advanced healthcare infrastructure and growing demand for natural antioxidants in health supplements and cosmetics. The presence of established companies such as Algatech Ltd and Cyanotech Corporation, coupled with increasing consumer awareness about the benefits of astaxanthin, drives market growth. In addition, the rising adoption in industries such as aquaculture and animal feed further supports market expansion. Innovations in product formulations and ongoing research into its therapeutic applications also contribute to North America's dominant position in the global market.

U.S. Astaxanthin Market Trends

The U.S. astaxanthin market is expanding, driven by the rising demand for natural antioxidants and growing awareness of the health benefits of nutraceuticals, pharmaceuticals, and cosmetics. Major players in the U.S., such as Cyanotech Corporation, Fuji Chemical Industries, and Piveg, Inc., are actively innovating to meet rising consumer demand. Notably, in March 2024, Nutrex-Hawaii, Inc., a subsidiary of Cyanotech Corporation, introduced a sugar-free gummy version of its top-selling BioAstin Hawaiian Astaxanthin dietary supplement, delivering 12mg of natural Hawaiian astaxanthin per daily serving. This innovative product is expected to strengthen Cyanotech’s market position by addressing the growing preference for convenient, health-focused supplement formats.

Europe Astaxanthin Market Trends

The Europe astaxanthin market is growing, supported by increasing demand for natural antioxidants in functional foods, dietary supplements, and skincare products. The aging population in countries such as Germany, France, and the UK is driving demand, particularly for cardiovascular and skin health benefits. Regulatory support for natural products and the development of novel formulations are contributing to market growth in the region.

The UK astaxanthin market is experiencing growth, with rising consumer interest in health and wellness products. The increasing awareness about the antioxidant properties, particularly for managing skin conditions, cardiovascular diseases, and eye health, is contributing to the market’s expansion. Supportive government policies and growing acceptance of astaxanthin-based nutraceuticals are expected to drive further market growth.

Germany astaxanthin market holds a prominent share in Europe’s due to its advanced healthcare system and growing consumer demand for functional foods and supplements. The country’s focus on preventative healthcare and the aging population’s increasing interest in astaxanthin for cardiovascular and skin health are key drivers. Regulatory support and continued product innovation are expected to contribute to sustained market growth.

Asia Pacific Astaxanthin Market Trends

The Asia Pacific astaxanthin market is anticipated to grow at a lucrative CAGR over the forecast period, driven by key players such as Algatech Ltd, Cyanotech Corporation, and Beijing Gingko Group, which are expanding their presence. These companies are improving microalgae cultivation and astaxanthin extraction technologies, increasing product bioavailability. Aquaculture and animal feed sectors are significant contributors, with astaxanthin enhancing pigmentation in marine life. Additionally, Sainhall Nutrihealth, a Singapore-based distributor, entered the consumer market in January 2024 with its SainHealth brand, offering supplements containing astaxanthin. The brand targets various health areas, including immune support, skincare, and anti-aging, and plans further market expansion.

China astaxanthin market is growing steadily, driven by an increase in cardiovascular diseases, skin health concerns, and a rising aging population. Astaxanthin’s demand for dietary supplements and functional foods is increasing as more consumers seek natural products to improve their health. Government initiatives to improve healthcare infrastructure and expand access to health-related products are helping to propel the market forward.

Japan astaxanthin market is characterized by high consumer awareness and a well-established healthcare system. The growing demand for natural antioxidants in skincare, nutraceuticals, and dietary supplements, coupled with the aging population, is driving market growth. Japan’s advanced research and development activities in the field of antioxidants, including astaxanthin, are expected to continue fostering growth in the market.

Latin America Astaxanthin Market Trends

The astaxanthin market in Latin America is expanding owing to technological developments, increasing healthcare spending, and a rising focus on preventive care. The rising prevalence of diseases is driving demand for nutraceuticals and dietary fibers as consumers seek to manage and prevent the onset of these conditions. The growing need for healthier lifestyle options is fueling demand for nutraceuticals across various sectors, including functional foods, beverages, cosmetics, aquaculture, animal feed, and other traditional food manufacturing applications.

The Brazil astaxanthin market is experiencing steady growth, fueled by increasing awareness about its health benefits, particularly for cardiovascular health and anti-aging purposes. The demand for dietary supplements and cosmetic products is rising as more consumers seek natural, effective health solutions. Government policies aimed at improving healthcare accessibility and growing interest in preventative care are contributing to market expansion.

MEA Astaxanthin Market Trends

The Middle East and Africa astaxanthin market is driven by increasing awareness of the antioxidant’s health benefits. Key markets in this region, such as South Africa, UAE, and Saudi Arabia, are seeing an uptick in demand for astaxanthin-based products, especially in nutraceuticals and cosmetics. Government efforts to improve healthcare access, expand the product range in the region, and address lifestyle-related health concerns are expected to continue stimulating market growth.

Saudi Arabia astaxanthin market is expanding due to the country’s healthcare initiatives and increasing consumer interest in natural health products. The growing prevalence of lifestyle diseases such as heart disease and skin conditions are fueling the demand for astaxanthin in dietary supplements and cosmetic products. Government initiatives under Vision 2030 to improve healthcare and expand access to therapeutic products are expected to support continued market growth.

The UAE astaxanthin market is growing, driven by increasing awareness of the health benefits of natural antioxidants. The demand for astaxanthin-based nutraceuticals and skin care products is rising due to growing consumer interest in health and wellness. Government policies aimed at enhancing healthcare infrastructure and expanding access to health products are contributing to the market’s expansion in the region.

South Africa astaxanthin market is witnessing growth as consumers increasingly turn to natural antioxidants for skin health, cardiovascular disease prevention, and anti-aging benefits. The market is also benefiting from the rising awareness of the health benefits of astaxanthin in supplements and cosmetics. Government support for expanding healthcare accessibility and improving public health will help further drive market expansion in the region.

Key Astaxanthin Company Insights

Some of the key players operating in the market include Algatech Ltd, Cyanotech Corporation, and ALGAMO. The market is highly competitive, with key players emphasizing sustainability, innovation, and quality. Algatech Ltd leads with its sustainable algae cultivation methods and large-scale production. Cyanotech Corporation, known for its Hawaiian-sourced microalgae, excels in product quality and environmental responsibility. Key players are focusing on innovation, sustainability, and quality by prioritizing advanced cultivation methods, expanding distribution, and forming strategic partnerships.

Recent Developments

• In March 2024, Nutrex-Hawaii, Inc., a subsidiary of Cyanotech Corporation, introduced a sugar-free gummy version of its top-selling BioAstin Hawaiian Astaxanthin dietary supplement, featuring an impressive 12mg of natural Hawaiian astaxanthin per daily serving. This innovative product is likely to strengthen Cyanotech's market position by catering to the growing demand for convenient, health-focused supplements.

• In April 2023, Algalif announced that construction of its 12,500 m² sustainable natural astaxanthin production facility in Iceland was progressing as planned. The USD 30 million expansion, initiated in summer 2021, is expected to be fully operational by the end of 2023. This significant investment underscores Algalif's commitment to meeting the growing global demand for high-quality astaxanthin.

• In April 2023, Algalíf and Divis Nutraceuticals announced a partnership that resulted in the launch of AstaBead, a groundbreaking astaxanthin product. The collaboration has now introduced an improved version of AstaBead, reflecting ongoing innovation and advancements. This enhanced product is poised to elevate quality standards in the market further, offering consumers improved benefits and expanding its applications in health and wellness, thereby driving increased competitiveness and market growth.

Astaxanthin Market Report Scope

Global Astaxanthin Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global astaxanthin market report based on source, product, application, and region.

• Source Outlook (Revenue, USD Million, 2018 - 2030)

  • Natural

    • Yeast

    • Krill/Shrimp

    • Microalgae

    • Others

  • Synthetic

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Dried Algae Meal Or Biomass

  • Oil

  • Softgel

  • Liquid

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Nutraceuticals

  • Cosmetics

  • Aquaculture And Animal Feed

  • Food

    • Functional Foods And Beverages

    • Other Traditional Food Manufacturing Applications

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait