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Astaxanthin Market Share

Report ID: GMI202
Published Date: Jun 2024
Report Format: PDF

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Astaxanthin Market Share

Leading astaxanthin firms are heavily investing in R&D activities to innovate and diversify their product offerings, including the development of new applications in nutraceuticals, cosmetics, and animal feed. Strategic collaboration with research institutes and aquaculture industry is helping them to improve product quality and expand markets. These companies are also focusing on more sustainable and cost-effective production methods, such as advanced agricultural technologies for natural astaxanthin production to meet the demand for environmentally friendly products.

Astaxanthin Market Companies

Major players operating in the astaxanthin industry include:

Algix
Wellgreen Technology
ALGA Technologies
Cardax
BASF
Cyanotech Corporation
INNOBIO
BGG
Piveg, Inc.
DSM
Fenchem
Lycored

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of astaxanthin reached USD 908.35 million in 2023 and is set to witness 5.6% CAGR from 2024 to 2032, owing to its rising recognition as a potent antioxidant with numerous health benefits worldwide.

Astaxanthin industry from the natural segment is expected to reach over USD 1 billion by 2032, due to increasing consumer demand for organic, clean-label, and sustainably sourced products.

Europe market is expected to exceed USD 702 million by 2032, attributed to the strong regulatory frameworks favoring natural and health-promoting supplements, along with the presence of a robust aquaculture sector in the region.

Algix, Wellgreen Technology, ALGA Technologies, Cardax, BASF, Cyanotech Corporation, INNOBIO, BGG, Piveg, Inc., DSM, Fenchem, and Lycored, are some of the major astaxanthin companies worldwide.