UAE Astaxanthin Market Size & Outlook, 2023-2030
UAE astaxanthin market, 2018-2030 (US$M)
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UAE astaxanthin market highlights
- The UAE astaxanthin market generated a revenue of USD 7.8 million in 2023 and is expected to reach USD 22.5 million by 2030.
- The UAE market is expected to grow at a CAGR of 16.4% 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 7.8 million |
| Market revenue in 2030 | USD 22.5 million |
| Growth rate | 16.4% (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, UAE accounted for 0.3% 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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UAE 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 55.13% in 2023. Horizon Databook has segmented the UAE astaxanthin market based on natural, synthetic covering the revenue growth of each sub-segment from 2018 to 2030.
The country is witnessing strong economic growth and increased awareness about dietary supplements owing to their immunity-boosting properties. For instance, as per UAE Health in April 2021, the demand for dietary supplements and nutraceuticals doubled in the past year.
The sales of immunity-boosting products, such as astaxanthin, have witnessed around a 60% hike. This increased uptake is expected to act as a key driver for market growth. The UAE is witnessing increased investment in the aquaculture segment to meet the rising demand for fish and ensure food security.
UAE-farmed fish, such as salmon, can help meet the demands of highend consumers. Therefore, fish quality plays a crucial role, which is expected to propel the demand for astaxanthin. A high preference for natural cosmetics is expected to further enhance the demand for astaxanthin in this country for use in cosmetics.
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Our clientele includes a mix of astaxanthin market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UAE astaxanthin market , including forecasts for subscribers. This country databook contains high-level insights into UAE astaxanthin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE astaxanthin market size, by source, 2018-2030 (US$M)
UAE Astaxanthin Market Outlook Share, 2023 & 2030 (US$M)
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