Italy Astaxanthin Market Size & Outlook, 2023-2030
Italy astaxanthin market, 2018-2030 (US$M)
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Italy astaxanthin market highlights
- The Italy astaxanthin market generated a revenue of USD 95.5 million in 2023 and is expected to reach USD 305.5 million by 2030.
- The Italy market is expected to grow at a CAGR of 18.1% from 2024 to 2030.
- In terms of segment, natural was the largest revenue generating source in 2023.
- Natural is the most lucrative source segment registering the fastest growth during the forecast period.
Astaxanthin market data book summary
| Market revenue in 2023 | USD 95.5 million |
| Market revenue in 2030 | USD 305.5 million |
| Growth rate | 18.1% (CAGR from 2023 to 2030) |
| Largest segment | Natural |
| Fastest growing segment | Natural |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Natural, Synthetic |
| Key market players worldwide | Alvotech, Cyanotech Corp, Beijing Jingneng Clean Energy Co Ltd Class H, ENEOS Holdings Inc, FUJIFILM Holdings Corp |
Other key industry trends
- In terms of revenue, Italy accounted for 4.1% of the global astaxanthin market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany astaxanthin market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 280.0 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Italy astaxanthin market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to astaxanthin market will help companies and investors design strategic landscapes.
Natural was the largest segment with a revenue share of 57.07% in 2023. Horizon Databook has segmented the Italy astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Local companies undertaking strategic initiatives, such as collaborations, & licensing to develop and offer new products are expected to fuel the natural astaxanthin market. For instance, in May 2018, Alga technologies partnered with Sphera Encapsulation to develop innovative delivery formats for microalgae-derived ingredients using Sphera’s encapsulation technology.
Moreover, in April 2019, Algatechnologies developed AstaPure-EyeQ, which is a microencapsulated natural astaxanthin powder developed using Sphera’s encapsulation technology. The COVID-19 pandemic increased the demand for immune-boosting products.
In June 2021, the Italian Ministry of Health focused on the nutritional needs of the elderly as overall nutritional therapy can be used as a measure to improve the quality of life. This prioritization of healthy aging is anticipated to boost the astaxanthin market for its antioxidant and antiaging properties along with immunity benefits.
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Horizon Databook provides a detailed overview of country-level data and insights on the Italy astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Italy astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Italy astaxanthin market size, by source, 2018-2030 (US$M)
Italy Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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