Middle East And Africa Astaxanthin Market

Middle East and Africa Astaxanthin Market Size (2024 To 2029)

The Astaxanthin market size in the Middle East and Africa is estimated to be worth USD 0.14 billion by 2029 from USD 0.07 billion in 2024, growing at a CAGR of 14.35% from 2024 to 2029.

Astaxanthin is a keto-carotenoid which is colourful, liquid soluble pigment. It is found in many natural sources such as salmon, trout, microalgae, yeast, krill, shrimp, crayfish and crustaceans among others. While Astaxanthin is a naturally available component of diet, it is also used as a food supplement. It is generally used for animal, human and aquaculture consumption. It is widely available in red-coloured aquatic foods. The primary source of Astaxanthin in aquatic food sources is algae. In species like shell fish, it is concentrated in the shells while it is also available in flesh at lower concentrations. However, most of the commercially available Astaxanthin is produced synthetically.

The driving factors of Middle East and Africa Astaxanthin market are adoption of advanced technologies during various stages of the production of Astaxanthin such as cultivation, extraction, microalgae harvesting, extraction and drying, growing geriatric population and rising demand for cosmetic products like antioxidant creams and anti-ageing creams among others. Astaxanthin has been found in many studies to be skin-friendly as it offers various advantages. Because of this, it is being used extensively by cosmeceutical manufacturers and wellness spa owners.

This research report on the Middle East and Africa Astaxanthin Market has been segmented and sub-segmented based on the following categories.

Middle East and Africa Astaxanthin Market By Source

• Plants
• Yeast & Microbes
• Marine And Petroleum

Middle East and Africa Astaxanthin Market By Form

• Dry
• Liquid

Middle East and Africa Astaxanthin Market By Application

• Supplements
• Animal Feed
• Cosmetics
• Food

Middle East and Africa Astaxanthin Market By Method of Production

• Fermentation
• Microalgae Cultivation
• Extraction
• Chemical Synthesis

In the Astaxanthin market, petroleum segment has the largest market by share and microalgae is expected to be the fastest growing segment.

Middle East and Africa Astaxanthin Market By Region

• KSA
• UAE
• Israel
• Rest Of Gcc Countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• Rest Of MEA

Factors such as rising geriatric population and adoption of various technologies during production are expected to drive the market growth in the region.

KEY MARKET PLAYERS

Some of the major players in the market are Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cyanotech Corporation (U.S.), Otsuka Pharmaceutical Co., Ltd. (Japan), Valensa International (U.S.), Fuji Chemical Industries Co., Ltd. (Japan), Divis Laboratories (India), Beijing Ginko Group (China), Igene Biotechnology, Inc. (U.S.), Piveg, Inc. (U.S.), Fenchem Biotek Ltd. (U.S.), Algatechnologies (Israel), Cardax, Inc. (U.S.), and Supreme Biotechnologies (U.S.).