Asia Pacific Astaxanthin Market Size & Outlook, 2023-2030
Asia Pacific astaxanthin market, 2018-2030 (US$M)
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Asia Pacific astaxanthin market highlights
- The Asia Pacific astaxanthin market generated a revenue of USD 594.5 million in 2023.
- The market is expected to grow at a CAGR of 18.8% 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.
- Country-wise, South Korea is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 594.5 million |
| Market revenue in 2030 | USD 1,981.9 million |
| Growth rate | 18.8% (CAGR from 2023 to 2030) |
| Largest segment | Natural |
| Fastest growing segment | Natural |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Asia Pacific region accounted for 25.4% of the global astaxanthin market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,981.9 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 54.99% in 2023. Horizon Databook has segmented the Asia Pacific astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
High unmet needs, increasing production of astaxanthin in the region, increase in R&D expenditure, and economic growth are some of the factors responsible for the fastest growth of the market in Asia Pacific.
Other factors anticipated to contribute to market growth include healthcare benefits offered by the government and an increase in awareness about astaxanthin. India and China are high-potential markets to manufacture astaxanthin.
In addition, an increase in urbanization, high disposable income, and awareness about natural astaxanthin are anticipated to propel the market growth in this region. As China is the largest producer and exporter of fish in the world, its consumption of astaxanthin is also considerably high.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific astaxanthin market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific astaxanthin market size, by country, 2018-2030 (US$M)
Asia Pacific Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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