Astaxanthin Market Summary
The global astaxanthin market size was estimated at USD 1.96 billion in 2025 and is anticipated to reach USD 4.27 billion by 2033, growing at a CAGR of 9.54% from 2026 to 2033. The growing demand for astaxanthin is being fueled by its increasing use in various industries, including aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food and beverages, among others.
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. This significant investment underscores. Furthermore, in April 2022, Beijing Gingko Group announced a second expansion of its pristine region's astaxanthin farm capacity in the last 2 years, which would 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.
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 2021 to 2033. For this report, Grand View Research has segmented the astaxanthin market based on source, product, application, and region:
- Source Outlook (Revenue, USD Million, 2021 - 2033)
- Natural
- Yeast
- Krill/Shrimp
- Microalgae
- Others
- Synthetic
- Product Outlook (Revenue, USD Million, 2021 - 2033)
- Dried algae meal or Biomass
- Oil
- Softgel
- Liquid
- Others
- Application Outlook (Revenue, USD Million, 2021 - 2033)
- Nutraceuticals
- Cosmetics
- Aquaculture and animal Feed
- Food
- Functional foods and beverages
- Other traditional food manufacturing applications
- Others
- Regional Outlook (Revenue, USD Million, 2021 - 2033)
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Source
- 1.2.2. Product
- 1.2.3. Application
- 1.2.4. Regional scope
- 1.2.5. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR's internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.4.5. Details of primary research
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Approach 1: Commodity flow approach
- 1.7.3. Volume price analysis (Model 2)
- 1.7.4. Approach 2: Volume price analysis
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Source outlook
- 2.2.2. Product outlook
- 2.2.3. Application
- 2.2.4. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Astaxanthin Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Increasing demand for nutraceuticals and natural antioxidants
- 3.2.1.2. Introduction of advanced technologies
- 3.2.1.3. Increase in adoption of natural cosmetics, nutraceuticals, and pharmaceuticals.
- 3.2.1.4. Increased use in aquaculture and coloring of fish
- 3.2.2. Market restraint analysis
- 3.2.2.1. High cost of production
- 3.2.2.2. Excess space requirement
- 3.3. Astaxanthin Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
- 3.4. Import Volume Data for Astaxanthin in Thailand (Volume in Metric Tons)
Chapter 4. Astaxanthin Market: Source Estimates & Trend Analysis
- 4.1. Source Market Share, 2025 & 2033
- 4.2. Segment Dashboard
- 4.3. Global Astaxanthin Market by Source Outlook
- 4.4. Market Size & Forecasts and Trend Analyses, 2021 to 2033, for the following
- 4.4.1. Natural
- 4.4.1.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.4.1.2. Yeast
- 4.4.1.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.4.1.3. Krill/Shrimp
- 4.4.1.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.4.1.4. Microalgae
- 4.4.1.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.4.1.5. Others
- 4.4.1.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.4.2. Synthetic
- 4.4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 5. Astaxanthin Market: Product Estimates & Trend Analysis
- 5.1. Product Market Share, 2025 & 2033
- 5.2. Segment Dashboard
- 5.3. Global Astaxanthin Market by Product Outlook
- 5.4. Market Size & Forecasts and Trend Analyses, 2021 to 2033, for the following
- 5.4.1. Dried algae meal or Biomass
- 5.4.1.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.4.2. Oil
- 5.4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.4.3. Softgel
- 5.4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.4.4. Liquid
- 5.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.4.5. Others
- 5.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 6. Astaxanthin Market: Application Estimates & Trend Analysis
- 6.1. Application Market Share, 2025 & 2033
- 6.2. Segment Dashboard
- 6.3. Global Astaxanthin Market by Application Outlook
- 6.4. Market Size & Forecasts and Trend Analyses, 2021 to 2033, for the following
- 6.4.1. Nutraceuticals
- 6.4.1.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.2. Cosmetics
- 6.4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.3. Aquaculture and Animal Feed
- 6.4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.4. Food
- 6.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.4.2. Functional Food and Beverages
- 6.4.4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.4.3. Other traditional food manufacturing applications
- 6.4.4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.5. Others
- 6.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 7. Astaxanthin Market: Regional Estimates & Trend Analysis
- 7.1. Regional Market Share Analysis, 2025 & 2033
- 7.2. Regional Market Dashboard
- 7.3. Global Regional Market Snapshot
- 7.4. Market Size & Forecasts Trend Analysis, 2021 to 2033:
- 7.5. North America
- 7.5.1. U.S.
- 7.5.1.1. Key country dynamics
- 7.5.1.2. Regulatory framework/ reimbursement structure
- 7.5.1.3. Competitive scenario
- 7.5.1.4. U.S. market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.5.2. Canada
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Regulatory framework/ reimbursement structure
- 7.5.2.3. Competitive scenario
- 7.5.2.4. Canada market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.5.3. Mexico
- 7.5.3.1. Key country dynamics
- 7.5.3.2. Regulatory framework/ reimbursement structure
- 7.5.3.3. Competitive scenario
- 7.5.3.4. Mexico market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6. Europe
- 7.6.1. UK
- 7.6.1.1. Key country dynamics
- 7.6.1.2. Regulatory framework/ reimbursement structure
- 7.6.1.3. Competitive scenario
- 7.6.1.4. UK market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6.2. Germany
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Regulatory framework/ reimbursement structure
- 7.6.2.3. Competitive scenario
- 7.6.2.4. Germany market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6.3. France
- 7.6.3.1. Key country dynamics
- 7.6.3.2. Regulatory framework/ reimbursement structure
- 7.6.3.3. Competitive scenario
- 7.6.3.4. France market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6.4. Italy
- 7.6.4.1. Key country dynamics
- 7.6.4.2. Regulatory framework/ reimbursement structure
- 7.6.4.3. Competitive scenario
- 7.6.4.4. Italy market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6.5. Spain
- 7.6.5.1. Key country dynamics
- 7.6.5.2. Regulatory framework/ reimbursement structure
- 7.6.5.3. Competitive scenario
- 7.6.5.4. Spain market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6.6. Norway
- 7.6.6.1. Key country dynamics
- 7.6.6.2. Regulatory framework/ reimbursement structure
- 7.6.6.3. Competitive scenario
- 7.6.6.4. Norway market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6.7. Sweden
- 7.6.7.1. Key country dynamics
- 7.6.7.2. Regulatory framework/ reimbursement structure
- 7.6.7.3. Competitive scenario
- 7.6.7.4. Sweden market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.6.8. Denmark
- 7.6.8.1. Key country dynamics
- 7.6.8.2. Regulatory framework/ reimbursement structure
- 7.6.8.3. Competitive scenario
- 7.6.8.4. Denmark market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.7. Asia Pacific
- 7.7.1. Japan
- 7.7.1.1. Key country dynamics
- 7.7.1.2. Regulatory framework/ reimbursement structure
- 7.7.1.3. Competitive scenario
- 7.7.1.4. Japan market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.7.2. China
- 7.7.2.1. Key country dynamics
- 7.7.2.2. Regulatory framework/ reimbursement structure
- 7.7.2.3. Competitive scenario
- 7.7.2.4. China market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.7.3. India
- 7.7.3.1. Key country dynamics
- 7.7.3.2. Regulatory framework/ reimbursement structure
- 7.7.3.3. Competitive scenario
- 7.7.3.4. India market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.7.4. Australia
- 7.7.4.1. Key country dynamics
- 7.7.4.2. Regulatory framework/ reimbursement structure
- 7.7.4.3. Competitive scenario
- 7.7.4.4. Australia market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.7.5. South Korea
- 7.7.5.1. Key country dynamics
- 7.7.5.2. Regulatory framework/ reimbursement structure
- 7.7.5.3. Competitive scenario
- 7.7.5.4. South Korea market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.7.6. Thailand
- 7.7.6.1. Key country dynamics
- 7.7.6.2. Regulatory framework/ reimbursement structure
- 7.7.6.3. Competitive scenario
- 7.7.6.4. Thailand market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.8. Latin America
- 7.8.1. Brazil
- 7.8.1.1. Key country dynamics
- 7.8.1.2. Regulatory framework/ reimbursement structure
- 7.8.1.3. Competitive scenario
- 7.8.1.4. Brazil market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.8.2. Argentina
- 7.8.2.1. Key country dynamics
- 7.8.2.2. Regulatory framework/ reimbursement structure
- 7.8.2.3. Competitive scenario
- 7.8.2.4. Argentina market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.9. MEA
- 7.9.1. South Africa
- 7.9.1.1. Key country dynamics
- 7.9.1.2. Regulatory framework/ reimbursement structure
- 7.9.1.3. Competitive scenario
- 7.9.1.4. South Africa market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.9.2. Saudi Arabia
- 7.9.2.1. Key country dynamics
- 7.9.2.2. Regulatory framework/ reimbursement structure
- 7.9.2.3. Competitive scenario
- 7.9.2.4. Saudi Arabia market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.9.3. UAE
- 7.9.3.1. Key country dynamics
- 7.9.3.2. Regulatory framework/ reimbursement structure
- 7.9.3.3. Competitive scenario
- 7.9.3.4. UAE market estimates and forecasts, 2021 - 2033 (USD Million)
- 7.9.4. Kuwait
- 7.9.4.1. Key country dynamics
- 7.9.4.2. Regulatory framework/ reimbursement structure
- 7.9.4.3. Competitive scenario
- 7.9.4.4. Kuwait market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Vendor Landscape
- 8.3.1. List of key distributors and channel partners
- 8.3.2. Key customers
- 8.3.3. Key company market share analysis, 2025
- 8.3.4. Algatech Ltd
- 8.3.4.1. Company overview
- 8.3.4.2. Financial performance
- 8.3.4.3. Product benchmarking
- 8.3.4.4. Strategic initiatives
- 8.3.5. Cyanotech Corporation
- 8.3.5.1. Company overview
- 8.3.5.2. Financial performance
- 8.3.5.3. Product benchmarking
- 8.3.5.4. Strategic initiatives
- 8.3.6. Algalif Iceland ehf
- 8.3.6.1. Company overview
- 8.3.6.2. Financial performance
- 8.3.6.3. Product benchmarking
- 8.3.6.4. Strategic initiatives
- 8.3.7. Beijing Gingko Group (BGG)
- 8.3.7.1. Company overview
- 8.3.7.2. Financial performance
- 8.3.7.3. Product benchmarking
- 8.3.7.4. Strategic initiatives
- 8.3.8. PIVEG, Inc.
- 8.3.8.1. Company overview
- 8.3.8.2. Financial performance
- 8.3.8.3. Product benchmarking
- 8.3.8.4. Strategic initiatives
- 8.3.9. Fuji Chemical Industries Co., Ltd
- 8.3.9.1. Company overview
- 8.3.9.2. Financial performance
- 8.3.9.3. Product benchmarking
- 8.3.9.4. Strategic initiatives
- 8.3.10. ENEOS Corporation
- 8.3.10.1. Company overview
- 8.3.10.2. Financial performance
- 8.3.10.3. Product benchmarking
- 8.3.10.4. Strategic initiatives
- 8.3.11. Atacama Bio Natural Products S.A.
- 8.3.11.1. Company overview
- 8.3.11.2. Financial performance
- 8.3.11.3. Product benchmarking
- 8.3.11.4. Strategic initiatives
- 8.3.12. E.I.D. - Parry (India) Limited
- 8.3.12.1. Company overview
- 8.3.12.2. Financial performance
- 8.3.12.3. Product benchmarking
- 8.3.12.4. Strategic initiatives
- 8.3.13. ALGAMO
- 8.3.13.1. Company overview
- 8.3.13.2. Financial performance
- 8.3.13.3. Product benchmarking
- 8.3.13.4. Strategic initiatives