Canada Astaxanthin Market Size & Outlook, 2023-2030
Canada astaxanthin market, 2018-2030 (US$M)
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Canada astaxanthin market highlights
- The Canada astaxanthin market generated a revenue of USD 88.4 million in 2023 and is expected to reach USD 282.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 18.1% 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 88.4 million |
| Market revenue in 2030 | USD 282.7 million |
| Growth rate | 18.1% (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, Canada accounted for 3.8% 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 North America, U.S. astaxanthin market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 282.7 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 56.79% in 2023. Horizon Databook has segmented the Canada astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Canada is expected to witness significant growth in the astaxanthin market owing to robust demand for health supplements among consumers and the growing aquaculture sector in the country. In Canada, the most prominent aquaculture segments include mussels, oysters, Atlantic salmon, clams, and trout.
Canada is one of the largest producers and exporters of salmon in the world. It exports a significant quantity of sockeye and pink salmon to the UK and Australia. These factors are expected to increase the local demand for feed products with astaxanthin.
Local companies are also expanding their product portfolios to meet the recent growth in market demand. For instance, in October 2022, Willow Biosciences, Inc., a leading biotechnology company, announced the development of astaxanthin that is used in various industries, such as food & nutrition, cosmetics, and animal feed.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Canada astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada astaxanthin market size, by source, 2018-2030 (US$M)
Canada Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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