South Korea Crocin Market Size & Outlook, 2023-2030
South Korea crocin market, 2018-2030 (US$M)
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South Korea crocin market highlights
- The South Korea crocin market generated a revenue of USD 87.1 million in 2023 and is expected to reach USD 130.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.9% 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 87.1 million |
| Market revenue in 2030 | USD 130.2 million |
| Growth rate | 5.9% (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, South Korea accounted for 1.8% 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 Asia Pacific, China crocin market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 130.2 million by 2030.
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Crocin Market Scope
Crocin Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 95.41% in 2023. Horizon Databook has segmented the South Korea crocin market based on purity>98%, purity<98% covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is a top pharmaceutical development country, specializing in natural ingredients compatible with the human body. Korean pharmaceuticals are strictly regulated throughout the manufacturing & distribution processes; users can be confident in their origin and efficacy.
Korean pain relievers are likely the most common medicine consumed in the country. The most commonly used painkillers in the country containing paracetamol or acetaminophen include Tylenol, Geworin, Penzal Q, Saridon-A, and Gnal-N.
Local players focus on addressing the unmet needs of patients. Key pharmaceutical companies with a local presence, such as LG Chem Ltd, Yuhan Corp, Chong Kun Dang Pharmaceutical Corporation, and Hanmi Pharmaceuticals Co Ltd., are involved in the production & distribution of paracetamol & combination drugs in the country.
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Target buyers of South Korea 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 country-level data and insights on the South Korea crocin market , including forecasts for subscribers. This country databook contains high-level insights into South Korea crocin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea crocin market size, by purity, 2018-2030 (US$M)
South Korea Crocin Market Outlook Share, 2023 & 2030 (US$M)
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