Spain Astaxanthin Market Size & Outlook, 2023-2030
Spain astaxanthin market, 2018-2030 (US$M)
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Spain astaxanthin market highlights
- The Spain astaxanthin market generated a revenue of USD 59.6 million in 2023 and is expected to reach USD 187.0 million by 2030.
- The Spain market is expected to grow at a CAGR of 17.7% 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 59.6 million |
| Market revenue in 2030 | USD 187.0 million |
| Growth rate | 17.7% (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, Spain accounted for 2.5% 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 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 |
|---|
Spain 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 57.21% in 2023. Horizon Databook has segmented the Spain astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
Lifestyle changes and the rising awareness about immune-boosting products are some of the major factors anticipated to fuel the growth of astaxanthin market. Moreover, the presence of key players distributing their products in Spain is expected to accelerate market growth.
Key players include Algatechnologies, Greenaltech Microalgae Technologies, Lubrizol Life Science, and AstaReal AB. Moreover, in March 2020, the standard recommended daily intake for astaxanthin was reaffirmed by European Food Safety Authority to 8 mg per day.
The use of the astaxanthin combination is further being studied for use in mental agility promotion and healthier aging, which is expected to expand the patient pool for novel astaxanthin products in the market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Spain astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Spain astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain astaxanthin market size, by source, 2018-2030 (US$M)
Spain Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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