Saudi Arabia Crocin Market Size & Outlook, 2023-2030
Saudi Arabia crocin market, 2018-2030 (US$M)
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Saudi Arabia crocin market highlights
- The Saudi Arabia crocin market generated a revenue of USD 39.5 million in 2023 and is expected to reach USD 51.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4% 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 39.5 million |
| Market revenue in 2030 | USD 51.8 million |
| Growth rate | 4% (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, Saudi Arabia accounted for 0.8% 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 |
|---|
Saudi Arabia 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 95.44% in 2023. Horizon Databook has segmented the Saudi Arabia crocin market based on purity>98%, purity<98% covering the revenue growth of each sub-segment from 2018 to 2030.
The Saudi Arabian crocin market is expected to grow at a lucrative rate over the forecast period, owing to the rapid launch of new products in the region and the increasing number of government initiatives. Market growth in the country can also be attributed to the increasing prevalence of pain and related disorders.
Moreover, the presence of private and public organizations working to help manage the condition is expected to boost market growth. For instance, the Saudi Society of Pain Medicine (SSPM) is a multidisciplinary society that brings together disparate groups of scientists, clinicians, and professionals to increase pain knowledge & awareness, as well as changing public policy & clinical practices to reduce pain-related suffering.
The high unmet clinical needs, rising disposable income, and increasing number of collaborative agreements with international organizations, such as WHO & UN, are expected to create opportunities for market growth in Saudi Arabia.
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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 Saudi Arabia crocin market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia crocin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia crocin market size, by purity, 2018-2030 (US$M)
Saudi Arabia Crocin Market Outlook Share, 2023 & 2030 (US$M)
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