Latest News- Astaxanthin Market: Natural is expected to lead the Source segment during 2025-2029

The Astaxanthin Market is being driven by Increasing health and wellness awareness

The Astaxanthin Market is expected to grow at a CAGR of 10.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 585.9 million. In the astaxanthin market, there is a discernible trend towards the preference for naturally sourced astaxanthin, predominantly derived from microalgae. This preference is driven by consumers' increasing demand for environmentally friendly and sustainable options, diverging from synthetic astaxanthin. In the aquaculture sector, there is a heightened focus on sustainable practices, with natural astaxanthin being favored in fish and shrimp feed over synthetic alternatives. This alignment with consumer expectations for responsibly sourced seafood is crucial for companies to build consumer trust. Transparency in sourcing and production methods is emerging as a significant selling point for astaxanthin products, underscoring the importance of sustainable and natural sourcing practices in the industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Source
  • Natural
  • Synthetic
• Type
  • Dry
  • Liquid
• Application
  • Dietary supplements
  • Animal feed
  • Cosmetics
  • Pharmaceuticals
  • Food and beverages
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing health and wellness awareness
• Rising demand for natural ingredients
• Rise of e-commerce and online shopping

However, the market also witnesses some limitations, which are as follows:

• High production rates
• High energy costs for bakery processors
• Fluctuations in raw material availability and costs

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Market Scope in Astaxanthin Market Research Report

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Research Analysis Overview

Astaxanthin, a xanthophyll carotenoid, is a valuable biological active compound derived from natural resources such as Haematococcus pluvialis, Chlorella zofingiensis, Chlorococcum, Phaffia rhodozyma, and other microalgae. Its molecular targets include various diseases like diabetes, cardiovascular diseases, neurodegenerative disorders, and cancer. Extraction methods ensure stability, while stereoisomers and chemical synthesis enhance production. Astaxanthin functions as an antioxidant, anticancer agent, and immunization aid. It is used as a nutritional and dietary supplement in human and animal nutrition, particularly in salmon, trout, shrimp feed.

Market Research Overview

The Astaxanthin market encompasses entities engaged in the production and supply of this xanthophyll carotenoid, derived from natural resources such as Haematococcus pluvialis and Chlorella zofingiensis. Astaxanthin's market size is determined by Technavio based on the consolidated revenue of these entities. The market scope does not extend to manufacturers of equipment used for Astaxanthin extraction or producers of other commodities, such as packaged alcoholic and non-alcoholic beverages. Market expansion will be fueled by the growing recognition of Astaxanthin's health benefits, particularly its role in targeting various diseases, making it a valuable addition to the food and feed industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/