Natural astaxanthin is recognized as a natural and organic product with notable benefits for various aspects of health. Research has shown its profoundly positive impacts on the immune system, vision, metabolic functions, and cardiovascular health.
New York, Sept. 28, 2023 (GLOBE NEWSWIRE) — According to a recent report by Market.us, the Global Natural Astaxanthin Market size is expected to be worth around USD 248.3 Million by 2032 from USD 116.2 Million in 2022, growing at a CAGR of 8.1 % during the forecast period from 2023 to 2032.
Natural astaxanthin is a red pigment and belongs to the carotenoid class of chemical compounds. It is discovered naturally in certain types of algae. It is responsible for the reddish colour of salmon, lobster, trout, shrimp, and lots of other seafood. Natural astaxanthin has been proven to be 500 times more effective than vitamin E. It is also beneficial than lycopene and way more potent than lutein. Astaxanthin may also assist in dealing with diseases like Male Infertility, Rheumatoid Arthritis, Parkinson’s Disease, Alzheimer’s Disease, Stroke, Age-Related Macular Degeneration, High Cholesterol, and Cancer.
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Key Takeaway
- By type, the natural astaxanthin market was dominated by astaxanthin powder with a market share of 53.5% in 2022 owing to its solubility.
- By application, nutraceuticals accounted for the largest market share of 39.1% in 2022 because of increasing demand and government initiatives.
- In 2022, North America dominated the market with the largest revenue share of 38%.
- Asia-Pacific is witnessing the highest CAGR among all the regions.
Factors affecting the growth of the Natural Astaxanthin industry
Several factors are affecting the growth of the natural astaxanthin market. These include:
- Rising health awareness: Natural astaxanthin is considered as natural and organic product. It is found that it has very positive effects on the immune system, vision, metabolic functions, and cardiovascular health.
- Increased demand: Astaxanthin is used in number of nutraceutical products and has various health benefits like antioxidant and anti-inflammatory. So the demand for these products rises.
- Government initiatives: The government across the globe is focusing on aquaculture, hence, they are taking initiatives to expand the aquaculture sector. Therefore, the market is witnessing high growth.
Top trends in the Natural Astaxanthin Market
There has been a constant growth in the use of this meal additive due to its health advantages, like anti-inflammatory and immunosuppressive properties, and the prevention of brain and cardiovascular disorders. As a result, there is a high demand for natural astaxanthin.
Market Growth
The increasing demand for nutraceuticals will propel the natural astaxanthin market growth during the forecast period. Astaxanthin is used in a variety of nutraceuticals for its health benefits, such as anti-inflammatory and antioxidant properties. Nutrient demand increases as developing countries shift their focus to preventive healthcare. Antioxidants are an important component of preventive healthcare and it is estimated that their demand will increase in the coming years. Moreover, the increasing health awareness among consumers will raise the demand for natural astaxanthin. Its use also benefits the immune system, vision, cardiovascular health, and metabolic function.
Regional Analysis
In 2022, North America held the largest share in the global market owing to the increasing prevalence of nutritional deficiencies and skin-related diseases. The natural astaxanthin market is expected to propel through investments in biotechnologies and pharmaceuticals in the region. Also, there is an increase in the share of fitness-conscious humans accelerating the growth opportunities in the marketplace. For example, Health & Human Services will spend US$40 million to expand bio-manufacturing capacity for active pharmaceutical ingredients.
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Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | USD 116.2 Million |
| Market Size in 2032 | USD 248.3 Million |
| CAGR (2023 to 2032) | 8.1% |
| North America Revenue Share | 38% |
| Historic Period | 2016 to 2021 |
| Base Year | 2022 |
| Forecast Year | 2023-2032 |
Market Drivers
The increasing demand for nutraceuticals will propel the natural astaxanthin market over the forecast period. Astaxanthin is used in a variety of nutraceuticals for its fitness benefits due to its anti-inflammatory and antioxidant properties. Also, nutrient demand increases as growing international locations shift their attention to preventive healthcare. Antioxidants are an important factor in preventive healthcare, and their demand is increasing, thereby increasing nutritional status.
Market Restraints
The limited availability of natural astaxanthin hinders the growth of the market. Natural astaxanthin production is limited due to high production costs, resulting in limited availability of the drug. The production of natural astaxanthin depends on the raw material, astaxanthin yield, purification, and extraction method. All these factors are driving the high price of natural astaxanthin, which is a major restraint for the market.
Market Opportunities
The growth of the aquaculture industry is increasing due to various initiatives taken by the governments across the world. This will provide multiple opportunities for the market growth. For instance, to support and expand the aquaculture sector, Indian government has taken an initiative, ‘Pradhan Mantri Matsya Sampada Yojana (PMMSY)’.
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Report Segmentation of the Natural Astaxanthin Market
Type Insight
In 2022, Astaxanthin powder held the majority of the revenue share. It accounted for the market share of 53.5% among other type. It is the most preferred form of natural astaxanthin because it is dissolved in water easily, and it can be mixed with alcohol and solvent.
By Application
In 2022, nutraceuticals dominated the market with a revenue share of 39.1% among other applications owing to the increasing demand for astaxanthin natural nutritional products and its superior antioxidant properties compared to other food supplements. Furthermore, the animal feed & aquaculture segment was estimated to experience the most rapid growth over the forecast period.
Market Segmentation
By Type
- Astaxanthin Powder
- Astaxanthin Oleoresin
By Application
- Food and Beverages
- Nutraceuticals
- Cosmetics
- Animal Feed & Aquaculture
- Other Applications
By Geography
North America
- The US
- Canada
Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
APAC
- China
- Japan
- South Korea
- India
- Australia
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View a PDF sample report @ https://market.us/report/natural-astaxanthin-market/request-sample/
Competitive Landscape
Major key players of the natural astaxanthin market are focusing on new product launches, mergers and acquisitions, and partnerships. For instance, Solabia-Algatech manufactured Astaxanthin gummies containing vitamin C. These gummies do not incorporate any preservatives or synthetic colors, and each gummy consists of 4mg of a complex of astaxanthin derived from the alga.
Some of the major players include:
- Cyanotech Corporation
- BGG
- Fuji Chemical Industry Co., Ltd.
- Parry Nutraceuticals Ltd.
- AlgaTechnologies Ltd.
- Jingzhou Natural Astaxanthin Inc
- Yunnan Alphy Biotech Co., Ltd.
- Archer-Daniels-Midland Company (ADM)
- Piveg, Inc.
- Asta Supreme
- Other Key Players
Recent Development of the Natural Astaxanthin Market
- In July 2022: Solabia-Algatech Nutrition introduced BioGlena for Immunity which is a 100% natural beta-glucan ingredient that is made from whole Euglena gracilis algae.
- In February 2021: Solabia-algatech Nutrition introduced a new powder containing microencapsulation, which can be reconstituted in cold water. This powder contains 2.5% of natural astaxanthin.
Author By:
Mr. Yogesh Shinde, who works as an Team Lead at Market.us, has more than 05+ years of experience in researching markets and giving advice to businesses. He’s completed over 60+ projects, mostly in industries like ICT, Semiconductor and Electronics, High Tech and Service industries.
Yogesh holds an MTech Degree in computer Engg. and a Graduate in IT. Yogesh has authored several publications and quoted in journals like International Journal of Computer Applications, National Conference on Advances in Computing(NCAC 2015) and International Journal of Science and Research (IJSR).
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