Astaxanthin is a naturally occurring carotenoid pigment that is found in a variety of organisms, including algae, yeast, fungi, and some fish and shellfish. It is known for its powerful antioxidant properties and has been studied extensively for its potential health benefits. In animal feed, astaxanthin is used as a feed additive to enhance the color of fish, poultry, and other livestock. It is particularly popular in the aquaculture industry, where it is used to improve the color of farmed salmon, trout, and shrimp. Astaxanthin is also believed to have a number of other benefits for animals, including improved immune function, increased resistance to stress, and enhanced fertility. The latest analysis predicts global astaxanthin market will grow from USD 1,102.8 million in 2022 to USD 1,902.3 million by 2029, achieving a CAGR of 8.1 percent, according to the latest edition of the Global Astaxanthin Market Report.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global astaxanthin market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, application, and region. The global market for astaxanthin can be segmented by product: natural astaxanthin, synthetic astaxanthin. In 2022, the natural astaxanthin segment made up the largest share of revenue generated by the astaxanthin market. Astaxanthin market is further segmented by application: animal feed, food, nutraceuticals, personal care, others. The animal feed segment was the largest contributor to the global astaxanthin market in 2022. Based on region, the astaxanthin market is segmented into: Asia-Pacific, Europe, North America, Rest of the World (RoW).

Market Segmentation
By product: natural astaxanthin, synthetic astaxanthin
By application: animal feed, food, nutraceuticals, personal care, others
By region: Asia-Pacific, Europe, North America, Rest of the World (RoW)

The report also provides analysis of the key companies of the industry and their detailed company profiles including Algatech LTD, AstaReal AB, BASF SE, Beijing Gingko Group Biological Technology Co., Ltd. (BGG), Biogenic Co., Ltd., Cyanotech Corporation, Fuji Chemical Industries Co., Ltd., Koninklijke DSM N.V., Yunnan Alphy Biotech Co., Ltd., Zhejiang NHU Co., Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
▹ To analyze and forecast the market size of the global astaxanthin market.
▹ To classify and forecast the global astaxanthin market based on product, application, region.
▹ To identify drivers and challenges for the global astaxanthin market.
▹ To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global astaxanthin market.
▹ To identify and analyze the profile of leading players operating in the global astaxanthin market.

Why Choose This Report
▹ Gain a reliable outlook of the global astaxanthin market forecasts from 2023 to 2029 across scenarios.
▹ Identify growth segments for investment.
▹ Stay ahead of competitors through company profiles and market data.
▹ The market estimate for ease of analysis across scenarios in Excel format.
▹ Strategy consulting and research support for three months.
▹ Print authentication provided for the single-user license.