The Global Marine Active Ingredient Market size is estimated to exhibit an impressive growth rate from 2023 to 2033. The global market is anticipated to cross a valuation of US$ 9,709.0 million in 2023. It is expected to reach a valuation of US$ 18,058.5 million by 2033, staggering a CAGR of 6.4% during the forecast period.
The sustainable nature of marine ingredients aligns with consumer preferences for eco-friendly products. Harvesting algae, seaweedss, and other marine sources reduces ecological impact.
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Additionally, cultivating such organism’s addresses issues such as competition between food versus fuel production. Advances in gene sequencing and process technology have enabled greater efficiency in extracting desired ingredients at a large scale.
On the other hand, researchers are looking for novel bioactive compounds with practical uses in the rich marine biodiversity.
For example, scientists have found marine enzymes with exceptional skincare qualities, marine peptides with potential pharmaceutical applications, and marine collagen to develop anti-aging formulations.
Such research and development initiatives are helping to expand the spectrum of marine active ingredients available and encourage industry innovation.
Government initiatives and support are also crucial to the expansion of the marine active ingredients market. Many governments throughout the world are encouraging investments in marine biotechnology and advocating the sustainable use of marine resources. They are funding research programs, constructing dedicated research institutes, and offering regulatory incentives to encourage the industry’s development.
For instance, countries such as Norway, Japan, and the United States have developed marine biotechnology centres to speed up research and foster collaborations between academics and industry.
Key Takeaways from the Marine Active Ingredients Report:
- The global marine active ingredients market is expected to reach a valuation of US$ 18,058.5 million by 2033.
- Global demand for marine active ingredients is likely to soar at 6.4% CAGR over the forecast period.
- Based on product type, the fish meal segment is anticipated to reach a valuation of US$ 12,640.9 million by 2033.
- By Form, the powdered marine active ingredients segment is likely to hold a market share of 67% during the projection period.
- The United States marine active ingredients market is projected to reach a valuation of US$ 5,977.3 million by 2033.
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“Rising consumer interest in natural products is driving considerable growth in the marine active ingredients market. To effectively capture market opportunities, manufacturers need to prioritize product innovation, sustainable sourcing, and strategic collaborations.” – says a lead analyst at Future Market Insights (FMI)
Top Key players in Marine Active Ingredients Market are:
- Hofseth BioCare ASA
- Bio-marine Ingredients Ireland Ltd.
- TripleNine Group A/S
- Symrise AG
- Scanbio SA
- Titan Biotech Limited
- Bio-Oregon Protein, Inc.
- SA Copalis
- Jiangxi Cosen Biochemical Co., Ltd.
- Costantino & C. S.P.A.
- Alaska Protein Recovery LLC.
- Gelita AG
- Cargill Inc.
These companies are expanding product portfolios, employing strategies like advertising, partnerships, acquisitions, agreements, and mergers to maintain market relevance and drive growth in the marine active ingredients market. For instance,
- In 2022, DSM Nutritional Products acquired Aker BioMarine, a Norwegian company specializing in krill oil production.
- In 2021, Lonza Group will acquire Nutrasource, a Canadian firm specializing in the manufacturing of marine collagen.
- In 2020, BASF purchased Croda International, a British firm that specializes in natural ingredient production.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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