Brazil Astaxanthin Market Size & Outlook, 2023-2030
Brazil astaxanthin market, 2018-2030 (US$M)
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Brazil astaxanthin market highlights
- The Brazil astaxanthin market generated a revenue of USD 25.9 million in 2023 and is expected to reach USD 86.6 million by 2030.
- The Brazil 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.
Astaxanthin market data book summary
| Market revenue in 2023 | USD 25.9 million |
| Market revenue in 2030 | USD 86.6 million |
| Growth rate | 18.8% (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, Brazil accounted for 1.1% 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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Brazil 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 56.76% in 2023. Horizon Databook has segmented the Brazil astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Brazil is a key market for astaxanthin in Latin America. Increasing R&D for astaxanthin for its use in aquaculture is driving the country’s market. For instance, in November 2020, Instituto de Ciências do Mar, Brazil, published a study demonstrating the effective use of astaxanthin in the production of shrimps in the post-larval stage.
Brazil being the largest market for nutritional supplements in Latin America provides lucrative opportunities for launching astaxanthin products in the country. Collaborating with distributors such as Ayalla for enhancing sales is becoming a key strategy for players.
Furthermore, the health-conscious middle-class population, which is rapidly increasing, is the target customer group for astaxanthin. However, Algatech has a first-mover advantage in Brazil, which creates barriers for other companies aiming to enter the market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Brazil astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil astaxanthin market size, by source, 2018-2030 (US$M)
Brazil Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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