Asia Pacific Crocin Market Size & Outlook, 2023-2030
Asia Pacific crocin market, 2018-2030 (US$M)
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Asia Pacific crocin market highlights
- The Asia Pacific crocin market generated a revenue of USD 779.2 million in 2023.
- The market is expected to grow at a CAGR of 5.5% from 2024 to 2030.
- In terms of segment, purity>98% was the largest revenue generating purity in 2023.
- Purity>98% is the most lucrative purity segment registering the fastest growth during the forecast period.
- Country-wise, South Korea is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 779.2 million |
| Market revenue in 2030 | USD 1,136.0 million |
| Growth rate | 5.5% (CAGR from 2023 to 2030) |
| Largest segment | Purity>98% |
| Fastest growing segment | Purity>98% |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Purity>98%, Purity<98% |
| Key market players worldwide | Merck KGaA, GSK PLC, Cipla Ltd DR, Novartis AG ADR, Sanofi SA, Aurobindo Pharma, Teva Pharmaceutical Industries Ltd, Mallinckrodt PLC Ordinary Shares - New, Cayman Chemical, Tokyo Chemical Industry, APExBIO Technology, Wilshire Technologies, Biosynth |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 16.2% of the global crocin market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,136.0 million by 2030.
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Crocin Market Scope
Crocin Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific crocin 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 crocin market will help companies and investors design strategic landscapes.
Purity>98% was the largest segment with a revenue share of 95.39% in 2023. Horizon Databook has segmented the Asia Pacific crocin market based on purity>98%, purity<98% covering the revenue growth of each sub-segment from 2018 to 2030.
The region's dominance in the crocin market can also be attributed to the increasing need to manage pain, rising chronic disease burden, and growing awareness. Rising development activities, rapid technological advancements in manufacturing, and increasing elderly population in emerging markets are expected to further create new opportunities in the region.
The local presence of key players, such as Jiangsu Hengrui Medicine Co Ltd, BeiGene Ltd, Cipla, Dr. Reddy’s Laboratories Ltd, and Aurobindo Pharma, is expected to drive overall market growth. Greater avenues of scientific research, untapped opportunities in the form of unmet medical needs, and economic growth are expected to be additional market drivers.
Moreover, improvements in the healthcare regulatory scenario in high-growth countries are expected to attract international players to invest and capitalize on available opportunities. Positive changes, such as greater healthcare benefits provided by governments and increased demand for high-end medical treatments, are anticipated to drive regional market growth.
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Target buyers of Asia Pacific crocin market databook
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Our clientele includes a mix of crocin 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 continent-level data and insights on the Asia Pacific crocin market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific crocin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific crocin market size, by country, 2018-2030 (US$M)
Asia Pacific Crocin Market Outlook Share, 2023 & 2030 (US$M)
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