China Astaxanthin Market Size & Outlook, 2023-2030
China astaxanthin market, 2018-2030 (US$M)
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China astaxanthin market highlights
- The China astaxanthin market generated a revenue of USD 169.2 million in 2023 and is expected to reach USD 551.6 million by 2030.
- The China market is expected to grow at a CAGR of 18.4% 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 169.2 million |
| Market revenue in 2030 | USD 551.6 million |
| Growth rate | 18.4% (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, China accounted for 7.2% 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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China 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 54.61% in 2023. Horizon Databook has segmented the China astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in disposable income, urbanization, and awareness about the health benefits of natural astaxanthin are some of the factors anticipated to drive the market. China is one of the leading producers of astaxanthin.
As the country’s average cost of labor & production is low, it is attracting multinational manufacturers. China is the largest aquaculture producer in the world. Therefore, the growth of its aquaculture industry is another key factor driving the domestic production of natural astaxanthin.
Some of the leading players in the China natural astaxanthin market are BGG and Algatech. These key players are expanding their presence by distributing products in new markets. For instance, in July 2021, Guangzhou Carelife Food Additives Co., Ltd. and Atacama Bio Natural Products S.A. signed a distribution agreement to promote and strengthen its distribution and supply chain network in China.
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Horizon Databook provides a detailed overview of country-level data and insights on the China astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into China astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China astaxanthin market size, by source, 2018-2030 (US$M)
China Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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