Global mussel oils market demand is anticipated to be valued at US$ 36 Million in 2022, forecast to grow at a CAGR of 3% to be valued at US$ 47.5 Million from 2022 to 2032.
Growth is ascribed to a rise in consumer interest in dietary supplements made with mussel oils.
Mussel oil derived from the green-lipped mussel has been identified as a source of 25 different fatty acids, of which the omega-3 fatty acids comprise a significant composition. Thus, mussel oil has many health benefits and is widely used in dietary supplements and the cosmetics industry.
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Mussel Oils Market: Dynamics
The mussel oils market is largely driven by applications in dietary supplements as mussel oil is a rich source of omega-3 fatty acids. Health consciousness and awareness about RDA intake are also contributing to the increase in the demand for dietary supplements, which in turn has been fueling the growth of the mussel oils market.
Mussel oil witnesses high demand in biopharmaceuticals, due to the anti-inflammatory properties conveyed by the bioactive compounds present in the oil. Mussel oil derived from green-lipped mussels contains a high amount of the eicosatetraenoic acid since green-lipped mussel is the only known source of ETAs, which help prevent inflammation at a cellular level.
With consumers shifting towards a vegan lifestyle, the demand for mussel oil is expected to witness a slowdown as mussel oil is an animal-origin oil. Global warming, ocean pollution and exploitation of the oceans by human activities have significantly disturbed oceanic biodiversity, which is leading to a decline in the mussel count in the ocean.
This is a key restraint for the global mussel oil market. With increasing activities and programs towards protecting the biodiversity of the ocean and welfare, the mussel oil market is expected to remain stagnant.
Mussel oil might produce allergies in people allergic to shellfish and should be used cautiously by people with high blood pressure due to the sodium content. Some of the possible side effects of mussel oil include nausea, gout, heartburn, intestinal gas and skin rashes.
Global Mussel Oils Market: Market Participants
Waitaki Biosciences, Maclab, Aroma New Zealand Limited, Nature’s Range, Great Healthworks and Blackmores Limited are some of the key players in the global mussel oils market
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Global Mussel Oils Market: Key Developments
It was observed, through an experimental study, that taking an omega-3 supplement from a mussel oil derived from the green-lipped mussel before exercise significantly produces positive effects of post-exercise muscle damage.
With increasing expenditure on research and development, new, innovative and efficient techniques are being developed for the production mussel oil with enhanced purity; for example, the supercritical extraction method and its incorporation in processed foods and pharmaceuticals.
More recently, mussel oil has been studied for the treatment of ADHD in children and adolescents with promising results. Also, mussel oil shows anti-cancer properties and is being further developed to treat cancer.
With increasing concerns about ocean biodiversity, the aqua farming of green-lipped mussel offers a sustainable solution. Such aqua farming is popular along the coastline areas of New Zealand and is continuously supervised by the New Zealand government under strict guidance and control.
Global Mussel oils market: Opportunities for Market Participants
Southeast Asia, with its increasing geriatric population, is pegged to be a promising market for mussel oil obtained from green-lipped mussel as this oil is used for treating rheumatoid arthritis and other joint related problems. China has a large number of pet owners, due to their one-child policy, which has created a sizeable demand space for mussel oil in the premium pet food and supplements segment.
Green-lipped mussel oil has entered the South Korea market through various home shopping channels where the cosmetics industry is growing at a tremendous pace. The oil is currently being marketed in China as well, which is pegged to emerge as a promising market in the near future.
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Mussel Oils Market: Segmentation
Segmentation of the mussel oils starch market on the basis of end use:
- Processed food
- Cosmetics and personal care
- Biopharmaceutical
- Dietary supplements
- Veterinary medicine
- Pet food
Segmentation of the mussel oils starch market on the basis of distribution channel:
- Wholesale
- Online retailer
- Supermarket
- Specialty stores
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