Argentina Astaxanthin Market Size & Outlook, 2023-2030
Argentina astaxanthin market, 2018-2030 (US$M)
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Argentina astaxanthin market highlights
- The Argentina astaxanthin market generated a revenue of USD 9.2 million in 2023 and is expected to reach USD 30.2 million by 2030.
- The Argentina market is expected to grow at a CAGR of 18.6% 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 9.2 million |
| Market revenue in 2030 | USD 30.2 million |
| Growth rate | 18.6% (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, Argentina accounted for 0.4% 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 Latin America, Brazil astaxanthin market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 86.6 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina 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 55.43% in 2023. Horizon Databook has segmented the Argentina astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
In August 2021, the government announced to work with China for enhancing its aquaculture segment. This partnership is aimed at sustainable aquaculture in Argentina. Such developments are expected to drive the demand for astaxanthin as feed to enhance the color of fish and shrimp.
High production of seafood in the country has increased astaxanthin adoption as a feed product in aquaculture farming. During the COVID-19 pandemic, Argentina witnessed a significantly slow growth in natural cosmetic demand owing to economic challenges.
The shift in consumer preference toward preventive healthcare products, such as nutraceuticals, which significantly reduce healthcare costs, has been observed, thereby fueling the market growth. In addition, Argentina is one of the largest feed producers globally.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Argentina astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Argentina astaxanthin market size, by source, 2018-2030 (US$M)
Argentina Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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