Germany Astaxanthin Market Size & Outlook, 2023-2030
Germany astaxanthin market, 2018-2030 (US$M)
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Germany astaxanthin market highlights
- The Germany astaxanthin market generated a revenue of USD 154.1 million in 2023 and is expected to reach USD 459.7 million by 2030.
- The Germany market is expected to grow at a CAGR of 16.9% 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 154.1 million |
| Market revenue in 2030 | USD 459.7 million |
| Growth rate | 16.9% (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, Germany accounted for 6.6% 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 Europe, Germany astaxanthin market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 280.0 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany 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 57.43% in 2023. Horizon Databook has segmented the Germany astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Germany held the 20.64% share of Europe astaxanthin market, due to an increase in demand for astaxanthin in cosmetics, nutraceuticals, food/beverage additives, and aquaculture. The growing use of astaxanthin in the antiaging market can be attributed to the rapidly growing geriatric population.
Germany is expanding its fish production and according to the Federal Statistical Office of Germany, the country produced around 18,300 tons of fish in 2021. The improved government focus and support for fisheries are projected to act as key drivers for greater adoption of astaxanthin in aquaculture products.
Owing to the COVID-19 pandemic, consumer focus has shifted toward immunity-boosting products, with 14% of German users reporting increased consumption of immunity boosters. The stocking of nutraceuticals has increased in pharmacies, creating a demand for astaxanthin products in the market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Germany astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany astaxanthin market size, by source, 2018-2030 (US$M)
Germany Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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