South Africa Astaxanthin Market Size & Outlook, 2023-2030
South Africa astaxanthin market, 2018-2030 (US$M)
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South Africa astaxanthin market highlights
- The South Africa astaxanthin market generated a revenue of USD 11.4 million in 2023 and is expected to reach USD 33.8 million by 2030.
- The South Africa market is expected to grow at a CAGR of 16.8% 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 11.4 million |
| Market revenue in 2030 | USD 33.8 million |
| Growth rate | 16.8% (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, South Africa accounted for 0.5% 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 Middle East & Africa, South Africa astaxanthin market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 33.8 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa 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 56.14% in 2023. Horizon Databook has segmented the South Africa astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
The South African government has made improvements in the country’s basic healthcare, and awareness about products such as nutraceuticals is rising. Moreover, aquaculture is gaining traction in this region owing to the government’s focus on this sector.
The nutritional supplement market in South Africa is booming and is expected to drive the use of astaxanthin supplements for improving health & immunity. Furthermore, the country has a high rate of supplement consumption with nearly 50% of the population taking a nutritional supplement each day.
This high use can be attributed to the target population’s belief regarding long-term health benefits of supplements. Increased availability of astaxanthin supplements in the region owing to internet penetration and online sales is driving sales.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into South Africa astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa astaxanthin market size, by source, 2018-2030 (US$M)
South Africa Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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