Norway Astaxanthin Market Size & Outlook, 2023-2030
Norway astaxanthin market, 2018-2030 (US$M)
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Norway astaxanthin market highlights
- The Norway astaxanthin market generated a revenue of USD 5.5 million in 2023 and is expected to reach USD 17.6 million by 2030.
- The Norway 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 5.5 million |
| Market revenue in 2030 | USD 17.6 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, Norway 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 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 |
|---|
Norway 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 54.55% in 2023. Horizon Databook has segmented the Norway astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Awareness regarding maintaining a healthy diet to complete nutritional requirements has been growing. Access to dietary supplementation has been made easier through online platforms and retail channels. Easy availability has been a major factor driving the market.
E-commerce platforms are also propelling market growth due to enhanced visibility of products and wider reach across all age groups & socioeconomic strata. The adoption of e-commerce platforms has increased due to the pandemic and has further propelled market growth.
Plant-based foods and superfoods are being adopted as a part of living and eating healthier. Companies in the nutritional supplement industry have been focusing on developing a new line of products and creating products that are not just tablets but are in palatable forms such as gummies & soft chews with flavors that do not taste like medicine.
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Horizon Databook provides a detailed overview of country-level data and insights on the Norway astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Norway astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Norway astaxanthin market size, by source, 2018-2030 (US$M)
Norway Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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