Thailand Crocin Market Size & Outlook, 2023-2030
Thailand crocin market, 2018-2030 (US$M)
Related Markets
Thailand crocin market highlights
- The Thailand crocin market generated a revenue of USD 50.0 million in 2023 and is expected to reach USD 72.5 million by 2030.
- The Thailand market is expected to grow at a CAGR of 5.4% 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 50.0 million |
| Market revenue in 2030 | USD 72.5 million |
| Growth rate | 5.4% (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, Thailand accounted for 1.0% 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 |
|---|
Thailand 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 95.4% in 2023. Horizon Databook has segmented the Thailand crocin market based on purity>98%, purity<98% covering the revenue growth of each sub-segment from 2018 to 2030.
The rising disposable income and increasing awareness about health & wellness are contributing to the growth of the paracetamol market in Thailand. Moreover, self-medication with OTC paracetamol and combination drugs is becoming a popular practice among patients.
Easy access to pharmacies and high prevalence of minor illnesses are the key reasons for self-medication. According to the Government Pharmaceutical Organization, Thai citizens consume a considerable amount of paracetamol as it is widely available over the counter.
In addition, people are typically less aware of the appropriate usage of paracetamol medications. According to an estimate, Thai people consume around 100 million pills of painkillers every year. Moreover, regulatory bodies and service providers are increasing awareness levels among people about the safe use of paracetamol to avoid the adverse effects on the liver & kidneys due to overdose.
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand crocin market , including forecasts for subscribers. This country databook contains high-level insights into Thailand crocin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand crocin market size, by purity, 2018-2030 (US$M)
Thailand Crocin Market Outlook Share, 2023 & 2030 (US$M)
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