Australia Astaxanthin Market Size & Outlook, 2023-2030
Australia astaxanthin market, 2018-2030 (US$M)
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Australia astaxanthin market highlights
- The Australia astaxanthin market generated a revenue of USD 86.3 million in 2023 and is expected to reach USD 290.9 million by 2030.
- The Australia market is expected to grow at a CAGR of 19% 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 86.3 million |
| Market revenue in 2030 | USD 290.9 million |
| Growth rate | 19% (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, Australia accounted for 3.7% 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 Asia Pacific, China astaxanthin market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 122.5 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia 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 54.69% in 2023. Horizon Databook has segmented the Australia astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Key players are adopting strategic initiatives such as collaborations and partnerships to expand their presence in new markets, which is expected to boost the natural astaxanthin market. The presence of local manufacturers developing new naturally derived astaxanthin products is anticipated to boost the market growth.
The Australian functional food and supplement industry is expected to witness exponential growth opportunities in the coming years, which is likely to positively impact the uptake of astaxanthin. The preference for natural healthcare non-GMO products is also rising owing to companies such as Blackmores, which promote astaxanthin supplements to boost health.
Furthermore, many foreign companies are entering Australian markets owing to the high demand for dietary supplements and preventive healthcare solutions. In October 2022, Atacama Bio Natural Products announced an exclusive distribution partnership with Australian food company Biota Ingredients.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Australia astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia astaxanthin market size, by source, 2018-2030 (US$M)
Australia Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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