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 at a CAGR of 6.4% during the forecast period.
The sustainability of marine elements corresponds with customer inclinations towards environmentally conscious products. The impact on the environment is lessened when algae, seaweed, and other marine resources are harvested.
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The global marine active ingredient market, valued at $9,709.0 million in 2023, aims to reach $18,058.5 million by 2033, boasting a 6.4% CAGR. Marine elements align with eco-friendly preferences, reducing environmental impact. Harvesting algae and seaweed not only sustains resources but also addresses fuel and food production conflicts, supported by technological advancements for efficient large-scale extraction.
Cultivating these organisms also solves other problems, such the conflict between fuel and food production. Technological developments in process and gene sequencing have made it possible to extract desired chemicals more efficiently on a big scale.
On the other hand, researchers are putting efforts into looking for novel bioactive compounds with practical uses in the rich marine biodiversity.
For example, scientists have found marine enzymes with exceptional skincare qualities, marine peptides with potential pharmaceutical applications, and marine collagen for the development of anti-aging formulations.
Such research and development initiatives are helping to expand the spectrum of marine active ingredients available and encourage industry innovation.
Government initiatives and support are also crucial to the expansion of the marine active ingredients industry. Many governments throughout the world are encouraging investments in marine biotechnology and advocating the sustainable use of marine resources. They are funding research programs, constructing dedicated research institutes, and offering regulatory incentives to encourage the industry’s development.
For instance, countries such as Norway, Japan, and the United States have developed marine biotechnology centers to speed up research and foster collaborations between academics and industry.
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Key Takeaways from the Marine Active Ingredients Report:
- The global marine active ingredients marketis expected to reach a valuation of US$ 18,058.5 million by 2033.
- Global demand for marine active ingredients is likely to soar at 4% CAGRover 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 industry is projected to reach a valuation of US$ 5,977.3 million by 2033.
“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)
Who is Winning?
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., A. Costantino & C. S.P.A., Alaska Protein Recovery LLC., Gelita AG and Cargill Inc are key Marine Active Ingredients manufacturers listed in the report.
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 industry 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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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global marine active ingredients industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the marine active ingredients industry based on product type (Fish Meal, Fish Oil, and Others (marine protein, peptides, etc), Form (Powder, Liquid), Ingredient Type (Protein, Ash, Fatty Acids, and Others (vitamins, enzymes, etc.), and End-Use (Poultry Feed, Aquaculture, Animal/Pet Food, Food & Beverage, Sports Nutrition & Dietary Supplements, Infant Formula, Pharmaceuticals, Cosmetic & Personal Care, and Others (fertilizers, emulsions, etc.), across various regions.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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