Astaxanthin Market Size Worth USD 7.21 Billion by 2034 | CAGR: 14.5%

The global astaxanthin market size is expected to reach USD 7.21 billion by 2034, according to a new study by Polaris Market Research. The report “Astaxanthin Market Size, Share, Trends, Industry Analysis Report By Source (Natural, Synthetic), By Product, By Form, By Application, By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Astaxanthin is a natural pigment that is part of the carotenoid family. It is what gives a reddish-pink color to a few marine life, such as salmon, shrimp, and flamingos. It is primarily sourced from microalgae, specifically Haematococcus pluvialis. Astaxanthin is highly valued for its powerful antioxidant properties, which are believed to be more potent than other well-known antioxidants. Owing to its many potential benefits, it is used in several different industries.

The astaxanthin market is a global industry with a wide range of applications. It is a key ingredient in the nutraceutical and cosmetics industries, where it is used in dietary supplements and skincare products to promote anti-aging effects and overall wellness. It is also used extensively in the aquaculture and animal feed industry to improve the color and health of farmed fish and other animals. The growing consumer interest in natural health products and the expansion of the aquaculture industry are two of the biggest factors driving the growth of the market.

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Astaxanthin Market Report Highlights

• By source, the natural source segment held the largest share in 2024. This is mainly because of a growing preference among consumers for products with "clean labels" and natural ingredients, which is especially important in the nutraceutical and cosmetics industries.
• Based on product, the dried algae meal or biomass segment held the largest share in 2024. This form is the key raw material for most astaxanthin products and is a cost-effective and stable option for the large-scale needs of the aquaculture and animal feed sectors.
• In terms of form, the dry form of astaxanthin held the largest share in 2024. Its long shelf life, ease of handling, and stability make it a preferred choice for manufacturers of supplements and animal feed, contributing to its significant market share.
• By region, North America held the largest share in 2024. This is due to a high level of consumer awareness about health and wellness, a strong demand for dietary supplements, and the presence of key players in the nutraceutical and cosmetics industries. Asia Pacific is a fast-growing market for astaxanthin. This growth is a result of a rising middle class, increasing disposable incomes, and a growing awareness of the benefits of health supplements.
• By Application, the aquaculture and animal feed segment represent the largest share. The extensive use of astaxanthin to enhance the color of farmed seafood to meet consumer expectations and improve animal health drives its demand in this sector.
• A few key players in the astaxanthin market include Cyanotech Corporation; Fuji Chemical Industry Co., Ltd.; BASF SE; DSM; Algatechnologies Ltd.; Algalíf Iceland ehf; Parry Nutraceuticals; Beijing Gingko Group; ENEOS Corporation; and Valensa International.

Polaris Market Research has segmented the astaxanthin market report on the basis of source, product, form, application, and region:

By Source Outlook (Revenue – USD Billion, 2020–2034)

• Natural
• Synthetic

By Product Outlook (Revenue – USD Billion, 2020–2034)

• Dried Algae Meal or Biomass
• Oil
• Softgel
• Liquid
• Others

By Form Outlook (Revenue – USD Billion, 2020–2034)

• Dry Form
• Liquid Form

By Application Outlook (Revenue – USD Billion, 2020–2034)

• Nutraceuticals
• Cosmetics
• Aquaculture
• Animal Feed
• Food
• Others

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America