Canthaxanthin Market Growth, Trends, Revenue, Size, Demand and Future Outlook
Canthaxanthin Market Growth, Size, Trends Analysis- By Source, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Mar-2025 | Report ID: CHEM2520 | Pages: 1 - 256 | Formats*: |
| Category : Chemical & Materials | |||
Canthaxanthin Market Introduction and Overview
According to SPER Market Research, the Global Canthaxanthin Market is estimated to reach USD 184.1 million by 2034 with a CAGR of 2.86%.
The report includes an in-depth analysis of the Global Canthaxanthin Market, including market size and trends, product mix, Applications, and supplier analysis.
The growing demand for cosmetics and personal care products, along with the widespread use of canthaxanthin in animal feed to enhance the color of egg yolks, chicken, trout, and salmon, will be key drivers of industry growth. Canthaxanthin’s impressive medicinal benefits, including its use in treating rashes and itching, are also attracting more consumers, boosting demand. Additionally, the increasing consumer preference for high-quality dairy and meat products is contributing to the positive growth of the market. However, The Canthaxanthin market faces challenges such as regulatory restrictions on its use in food and concerns over its safety when consumed in large quantities. Additionally, high production costs and limited natural sources can hinder market growth.
By Source: The synthetic segment generated significant revenue in 2024, primarily due to consumer preference for its cost-effectiveness compared to alternatives. It is widely used in animal feed and has a large-scale global market presence. Sourced from petrochemicals, synthetic canthaxanthin provides color pigmentation for fish and skin coloring for chickens. Its extensive application in these areas plays a crucial role in driving revenue growth. The demand for this cost-efficient option continues to rise, further boosting the market.
By Application: The animal feed segment held a significant share of the canthaxanthin market in 2024. Canthaxanthin is widely used as a key ingredient in aquafeed and pet food, primarily to provide red pigmentation in fish and a golden hue to egg yolks. Ongoing efforts by governments to promote aquaculture further strengthen the industry’s growth and its dominance in the market over the forecast period.
By Regional Insights: The Asia Pacific canthaxanthin market held a dominant position in 2024, driven by growing demand from applications like animal feed, particularly with the rising aquaculture industry in the region. The increasing demand for high-quality eggs in countries such as Japan, China, and India is also boosting product sales. Canthaxanthin is widely used in the region to enhance bird health, extend egg shelf life, and improve the resistance of the vitelline membrane in egg yolks, which will continue to drive profitability and sustain regional dominance until 2034.
Market Competitive Landscape
The market is moderately consolidated. Some of the market key players are BASF, DSM, Guangzhou Wisdom Biotechnology, Hangzhou Onicon Chemical, Noshly, Novepha Company, Novus International, Parchem, Zipont Chem Tech, and ZMC, along with several other players in the industry.
Recent Developments:
- In January 2021, DSM, a leading manufacturer, introduced Quali®-T, a high-quality canthaxanthin product designed for the food and pharmaceutical industries, highlighting its health benefits and commitment to sustainable production.
- In 2022, BASF explored the use of canthaxanthin in treating eye diseases by collaborating with research institutions and expanding into new markets in Latin America and Africa, aiming to tap into future growth opportunities.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Source, By Application. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | BASF, DSM, Guangzhou Wisdom Biotechnology, Hangzhou Onicon Chemical, Noshly, Novepha Company, Novus International, Parchem, Zipont Chem Tech, and ZMC, along with several other players in the industry. |
Key Topics Covered in the Report
- Global Canthaxanthin Market Size (FY’2021-FY’2034)
- Overview of Global Canthaxanthin Market
- Segmentation of Global Canthaxanthin Market By Source (Synthetic, Natural)
- Segmentation of Global Canthaxanthin Market By Application (Dietary Supplement, Personal Care, Pharmaceuticals, Food & Beverages, Animal feed)
- Statistical Snap of Global Canthaxanthin Market
- Expansion Analysis of Global Canthaxanthin Market
- Problems and Obstacles in Global Canthaxanthin Market
- Competitive Landscape in the Global Canthaxanthin Market
- Details on Current Investment in Global Canthaxanthin Market
- Competitive Analysis of Global Canthaxanthin Market
- Prominent Players in the Global Canthaxanthin Market
- SWOT Analysis of Global Canthaxanthin Market
- Global Canthaxanthin Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Canthaxanthin Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Canthaxanthin Market
7. Global Canthaxanthin Market, By Source, (USD Million) 2021-2034
7.1. Synthetic7.2. Natural
8. Global Canthaxanthin Market, By Application, (USD Million) 2021-2034
8.1. Dietary Supplement8.2. Personal Care8.3. Pharmaceuticals8.4. Food & Beverages8.5. Animal feed
8.5.1. Aquaculture8.5.2. Livestock8.5.3. Pets
9. Global Canthaxanthin Market, (USD Million) 2021-2034
9.1. Global Canthaxanthin Market Size and Market Share
10. Global Canthaxanthin Market, By Region, 2021-2034 (USD Million)
10.1. Asia-Pacific
10.1.1. Australia10.1.2. China10.1.3. India10.1.4. Japan10.1.5. South Korea10.1.6. Rest of Asia-Pacific
10.2. Europe
10.2.1. France10.2.2. Germany10.2.3. Italy10.2.4. Spain10.2.5. United Kingdom10.2.6. Rest of Europe
10.3. Middle East and Africa
10.3.1. Kingdom of Saudi Arabia10.3.2. United Arab Emirates10.3.3. Qatar10.3.4. South Africa10.3.5. Egypt10.3.6. Morocco10.3.7. Nigeria10.3.8. Rest of Middle-East and Africa
10.4. North America
10.4.1. Canada10.4.2. Mexico10.4.3. United States
10.5. Latin America
10.5.1. Argentina10.5.2. Brazil10.5.3. Rest of Latin America
11. Company Profile
11.1. BASF
11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments
11.2. DSM
11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments
11.3. Guangzhou Wisdom Biotechnology
11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments
11.4. Hangzhou Onicon Chemical.
11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments
11.5. Noshly
11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments
11.6. Novepha Company
11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments
11.7. Novus International
11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments
11.8. Parchem
11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments
11.9. Zipont Chem Tech
11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments
11.10. ZMC
11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Canthaxanthin Market is projected to reach USD 184.1 million by 2034, growing at a CAGR of 2.86% during the forecast period.
Canthaxanthin Market grew in Market size from 2025. The Market is expected to reach USD 184.1 million by 2034, at a CAGR of 2.86% during the forecast period.
Canthaxanthin Market CAGR of 2.86% during the forecast period.
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Canthaxanthin Market size is USD 184.1 million from 2025 to 2034.
Canthaxanthin Market is covered By Product, By Function, By Application, By End-User.
The North America is anticipated to have the highest Market share in the Canthaxanthin Market.
The key players in the Market include Companies Covered BASF, DSM, Guangzhou Wisdom Biotechnology, Hangzhou Onicon Chemical, Noshly, Novepha Company, Novus International, Parchem, Zipont Chem Tech, and ZMC, along with several other players in the industry.
The growing demand for cosmetics and personal care products, along with the widespread use of canthaxanthin in animal feed to enhance the color of egg yolks, chicken, trout, and salmon, will be key drivers of industry growth. Canthaxanthin’s impressive medicinal benefits, including its use in treating rashes and itching, are also attracting more consumers, boosting demand.
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