Kuwait Crocin Market Size & Outlook, 2023-2030
Kuwait crocin market, 2018-2030 (US$M)
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Kuwait crocin market highlights
- The Kuwait crocin market generated a revenue of USD 11.9 million in 2023 and is expected to reach USD 15.5 million by 2030.
- The Kuwait market is expected to grow at a CAGR of 3.8% 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.
Crocin market data book summary
| Market revenue in 2023 | USD 11.9 million |
| Market revenue in 2030 | USD 15.5 million |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Largest segment | Purity>98% |
| Fastest growing segment | Purity>98% |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Kuwait accounted for 0.2% of the global crocin market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia crocin market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 21.2 million by 2030.
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Crocin Market Scope
Crocin Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Kuwait 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 95.8% in 2023. Horizon Databook has segmented the Kuwait crocin market based on purity>98%, purity<98% covering the revenue growth of each sub-segment from 2018 to 2030.
The Kuwait crocin market is primarily driven by the increasing health concerns related to aging, high healthcare expenditure per capita, and growing patient pool requiring pain relievers. According to the World Bank, in 2022, Kuwait’s geriatric population aged 65 years & above was over 210,000, which is expected to increase exponentially in the coming decade.
In addition, the elderly are at a high risk of chronic and infectious diseases, often requiring paracetamol to manage pain & other symptoms. These factors are expected to boost the market over the forecast period.
Moreover, the pharmaceutical sector in Kuwait is in the growing phase, driven by government healthcare initiatives. The growing population, changing lifestyles, and rising health issues are creating demand for advanced healthcare infrastructure in the country.
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Our clientele includes a mix of crocin market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Kuwait crocin market , including forecasts for subscribers. This country databook contains high-level insights into Kuwait crocin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Kuwait crocin market size, by purity, 2018-2030 (US$M)
Kuwait Crocin Market Outlook Share, 2023 & 2030 (US$M)
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