Latin America Crocin Market Size & Outlook, 2023-2030
Latin America crocin market, 2018-2030 (US$M)
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Latin America crocin market highlights
- The Latin America crocin market generated a revenue of USD 305.7 million in 2023.
- The market is expected to grow at a CAGR of 5.1% 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, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 305.7 million |
| Market revenue in 2030 | USD 433.2 million |
| Growth rate | 5.1% (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, Latin America region accounted for 6.4% 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 |
|---|
Latin America 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 95.49% in 2023. Horizon Databook has segmented the Latin America crocin market based on purity>98%, purity<98% covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America held a significant share of the crocin market in 2023 owing to the rising need for pain management medications. The availability of painkillers depends on access to healthcare, opioids, & pain management analgesics and may vary from one country to another.
Key players in the region are constantly focusing on providing access to more painkillers. For instance, in June 2019, AFT Pharmaceuticals entered into a licensing agreement with Galenicum, a Barcelona-based company, to distribute Maxigesic, an analgesic combination patented by AFT Pharmaceuticals in Chile, Colombia, and Peru.
Such initiatives are expected to broaden access to painkillers in the region. The increasing government spending, presence of skilled healthcare professionals, growing focus by multinational pharmaceutical companies on untapped markets, and rising patient awareness are expected to drive the market over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America crocin market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America crocin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America crocin market size, by country, 2018-2030 (US$M)
Latin America Crocin Market Outlook Share, 2023 & 2030 (US$M)
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