The Latin America Astaxanthin market size was valued at USD 0.11 billion in 2024 and is expected to reach USD 0.44 billion by 2033 from USD 0.13 billion in 2025. The market is projected to grow at a CAGR of 16.59%.
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 Latin America 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.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2024 to 2033 |
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Base Year |
2024 |
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Forecast Period |
2025 to 2033 |
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CAGR |
16.59% |
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Segments Covered |
By Source, Form, Application, Method of Production, And Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis; Segment-Level Analysis; DROC, PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
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Regions Covered |
Brazil, Mexico, Argentina, Chile, and Rest of Latin America |
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Market Leaders Profiled |
Graymont, Lhoist, Carmeuse, United States Lime & Minerals Inc., Mississippi Lime Company, Vulcan Materials Company, Cemex S.A.B. de C.V., Holcim Ltd., Martin Marietta Materials, Imerys |
Factors such as rising geriatric population and adoption of various technologies during production are expected to drive the market growth in the region.
Major Key Players in the Latin America Astaxanthin 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.), Supreme Biotechnologies (U.S.)
This research report on the Latin America astaxanthin market has been segmented and sub-segmented based on source, form, application, method of production & region.
By Source
By Form
By Application
By Method of Production
By Region
Frequently Asked Questions
The rising demand for natural antioxidants, growing aquaculture industry, increasing use in nutraceuticals, and expanding cosmetic applications are key growth drivers.
Astaxanthin is primarily derived from microalgae (Haematococcus pluvialis), synthetic sources, and marine organisms like krill and shrimp.
Key players include BASF SE, Cyanotech Corporation, Fuji Chemical Industries, Algatechnologies, BGG World, and Divis Laboratories.
Astaxanthin supports skin health, improves eye health, enhances athletic performance, reduces inflammation, and promotes cardiovascular wellness.
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