Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 830.45 Million | USD 1951.59 Million | 8.92% | 2024 |
FrequentlyAsked Questions
Astaxanthin is a chemical compound. It is a keto-carotenoid and falls in the group of terpenes.
The global astaxanthin market is expected to grow due to rising demand for natural antioxidants, increasing use in nutraceuticals and cosmetics, growth in aquaculture feed applications, and consumer awareness of health benefits.
According to a study, the global astaxanthin market size was worth around USD 830.45 Million in 2024 and is expected to reach USD 1951.59 Million by 2034.
The global astaxanthin market is expected to grow at a CAGR of 8.92% during the forecast period.
The global astaxanthin market will be led by North America during the forecast period with a CAGR of more than 10%.
Leading players in the global astaxanthin market include Algatech Ltd, Cyanotech Corporation, Algalíf Iceland ehf, Beijing Gingko Group (BGG), PIVEG, Inc., Fuji Chemical Industries Co., Ltd, ENEOS Corporation, Atacama Bio Natural Products S.A., E.I.D. – Parry (India) Limited, ALGAMO, among others.
The report explores crucial aspects of the astaxanthin market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.
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