The global astaxanthin market size is expected to be worth around US$ 8.7 billion by 2030, according to a new report by Vision Research Reports.
The global astaxanthin market size was valued at US$ 1,571.24 million in 2020 and is anticipated to grow at a CAGR of 20.8% during forecast period 2021 to 2030.
Astaxanthin Market (By Source: Natural, Synthetic; By Product: Dried Algae Meal or Biomass, Oil, Softgel, Liquid, Others; By Application: Nutraceuticals, Cosmetics, Aquaculture and AnimalFeed, Food) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
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Report Coverage
| Report Scope | Details |
| Market Size | USD 8.7 billion by 2030 |
| Growth Rate | CAGR of 20.8% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Source, Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | AlgatechLtd.; CyanotechCorp.; AstaReal Group, CO2 GRO Inc.; Beijing Gingko Group; E.I.D. – Parry (India) Limited; ENEOS Corporation; FENCHEM; MicroA; NextFerm; Algalif Iceland ehf |
Growth Factors
growing awareness among people regarding healthy lifestyle, and government initiatives to increase the manufacturing capacity are anticipated to boost the market growth. Algalíf Iceland ehf. received financial aid from EU’s SME Instrument program and Icelandic Centre for Research’s Technology Development Fund to expand its manufacturing capacities by adding spray dryers. Cost-effective technologies widely used for astaxanthin production include Photo Bioreactor (PBR) and Flat Panel Airlift (FPA) reactors. Furthermore, other technologies used are open pond, closed microalgae, hybrid (a need-based combination of open pond system & flat panel photobioreactor), green technology production system energized by natural sunlight, and supercritical carbon dioxide extraction systems.
Key Players
Market Segmentation
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