Asia Pacific is Projected to Grow at a Significant CAGR of 8.4% in Astaxanthin Market by 2026

The global astaxanthin market size is estimated to be valued at USD 647 million in 2021. It is projected to reach USD 965 million by 2026, recording a CAGR of 8.3% during the forecast period.

The increase in awareness toward preventive healthcare & nutraceuticals and the rising demand for cosmetic products have gained the attention of the key players in the astaxanthin market to develop new and effective products. Astaxanthin also has anti-inflammatory properties. Other health benefits associated with astaxanthin are cardiovascular disease prevention, boosting immunity and bioactivity against Helicobacter pylori, and cataract prevention.

Download PDF Brochure

The Asia Pacific region dominated the astaxanthin market and is projected to grow at a significant CAGR of 8.4% by 2026.

The overall economic growth in the Asia Pacific region has led to an increase in urbanization and rapid industrialization. Hence, the consumption levels of astaxanthin differ from country to country and region to region. The increasing preference among consumers for healthy food and the high demand for meat and seafood are some of the major factors for the growth of animal feed applications of astaxanthin in the region. Asia Pacific offers great opportunities to manufacturers and suppliers of astaxanthin, owing to the cost advantage and high demand in this region.

China dominated the Asia Pacific market for astaxanthin with a share of about 40.4% in 2020.

The emerging economy of China makes it as one of the major markets for astaxanthin, owing to its use in aquafeed, which is considered a high-value industry in the region. Additionally, China is the outright leader of astaxanthin in the region as it has a huge number of astaxanthin manufacturers such as Fenchem Biotek Ltd., Beijing Gingko Group, and Yunnan GinkoAsta Biotech Co., Ltd. The increasing purchasing power of consumers due to economic development in China has led to rising demand for high-quality processed foods. Hence, being a health food additive, the market for astaxanthin is projected to grow in China in the next few years.

Make an Inquiry

The key service providers in this market include Koninklijke DSM N.V. (the Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Otsuka Holdings Co. Ltd. (Japan), Divi’s Laboratories Ltd. (India), Valensa International (US), Fuji Chemical Industries Co. Ltd. (Japan), Beijing Gingko Group (China), Cardax, Inc. (Denmark), Piveg, Inc (US), Fenchem Biotek Ltd. (China), Algatech Ltd. (Israel), Supreme Biotechnologies (New Zealand), Igene Biotechnology Inc. (US), Algamo (Czech Republic), Biogenic Co. Ltd. (Japan), Astamaz NZ Ltd. (New Zealand), Algalif (Iceland), Algae to Omega (US), and Algae Health Sciences (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Matched content

Editor’s pick

Express Press Release Distribution