Ecuador Astaxanthin Market Size & Outlook, 2023-2030
Ecuador astaxanthin market, 2018-2030 (US$M)
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Ecuador astaxanthin market highlights
- The Ecuador astaxanthin market generated a revenue of USD 5.3 million in 2023 and is expected to reach USD 17.3 million by 2030.
- The Ecuador market is expected to grow at a CAGR of 18.3% 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 5.3 million |
| Market revenue in 2030 | USD 17.3 million |
| Growth rate | 18.3% (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, Ecuador accounted for 0.2% 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 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 |
|---|
Ecuador 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 56.6% in 2023. Horizon Databook has segmented the Ecuador astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
The Ecuador astaxanthin market is fueled by growth in aquaculture in the country and rising demand for aquaculture feed. Moreover, increasing demand for astaxanthin in aquatic framing and human use is anticipated to drive market growth in the country.
Ecuador has one of the leading aquaculture sectors in Latin America; the country exports a significant amount of seafood to other countries. For instance, in August 2022, Ecuador’s MPCEIP signed an agreement with the U.S. FDA to facilitate shrimp exports. Shrimp is one of the major aquaculture products produced in the country.
There is a major demand for herbal food and nutraceuticals in the country. In March 2019, BiOALiMENTAR inaugurated a factory for the production of multispecies balanced food. This factory was built in collaboration with FAMSUN.
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Horizon Databook provides a detailed overview of country-level data and insights on the Ecuador astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Ecuador astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Ecuador astaxanthin market size, by source, 2018-2030 (US$M)
Ecuador Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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