Thailand Astaxanthin Market Size & Outlook, 2023-2030
Thailand astaxanthin market, 2018-2030 (US$M)
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Thailand astaxanthin market highlights
- The Thailand astaxanthin market generated a revenue of USD 18.0 million in 2023 and is expected to reach USD 60.2 million by 2030.
- The Thailand market is expected to grow at a CAGR of 18.8% 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 18.0 million |
| Market revenue in 2030 | USD 60.2 million |
| Growth rate | 18.8% (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, Thailand accounted for 0.8% 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 Asia Pacific, China astaxanthin market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 122.5 million by 2030.
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Astaxanthin Market Scope
Astaxanthin Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Thailand 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 53.89% in 2023. Horizon Databook has segmented the Thailand astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
The astaxanthin market in Thailand is still in its nascent stage. However, there is an increasing interest in astaxanthin due to its numerous health benefits, and the market was expected to grow rapidly in the coming years.
Overall, the astaxanthin market in Thailand is expected to witness significant growth in the coming years, owing to increasing consumer awareness about the health benefits of astaxanthin and rising demand for natural & organic products.
Major players in the market are focusing on expanding their product portfolios and strengthening their distribution networks to capitalize on the growing demand for astaxanthin in Thailand.
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into Thailand astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand astaxanthin market size, by source, 2018-2030 (US$M)
Thailand Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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