The global marine active ingredients market is projected to experience substantial growth, rising from USD 9,709.0 million in 2023 to USD 18,058.5 million by 2033. This growth corresponds to a notable compound annual growth rate (CAGR) of 6.4% during the forecast period.
The sustainable qualities of marine ingredients resonate with consumer preferences for eco-friendly products. The harvesting of algae, seaweeds, and other marine resources minimizes ecological impact.
Moreover, cultivating these organisms addresses concerns about competition between food and fuel production. Advances in gene sequencing and processing technologies have improved the efficiency of extracting desired ingredients on a large scale.
Simultaneously, researchers are exploring novel bioactive compounds within the rich biodiversity of marine ecosystems. For instance, scientists have discovered marine enzymes with remarkable skincare properties, marine peptides with potential pharmaceutical applications, and marine collagen for developing anti-aging formulations.
These research and development efforts are broadening the range of marine active ingredients available and fostering innovation within the industry.
Government initiatives and support play a crucial role in the growth of the marine active ingredients market. Many countries are promoting investments in marine biotechnology and advocating for the sustainable use of marine resources. They are funding research programs, establishing dedicated research institutes, and providing regulatory incentives to support the industry’s advancement.
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.
Competitive Landscape
The marine active ingredients market features a diverse and dynamic competitive landscape. Leading companies across various sectors, including food and beverages, cosmetics, pharmaceuticals, and supplements, are prioritizing research and development, sustainable sourcing, and innovative formulations.
These companies are committed to environmentally friendly practices, obtaining product certifications, and meeting the rising demand for natural and sustainable ingredients. They aim to maintain their market position and capitalize on growing consumer interest by focusing on quality, innovation, and aligning with customer preferences.
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.
Key Companies Profiled
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Marine Active Ingredients Market by Category
By Product Type:
- Fish Meal
- Fish Oil
- Others (peptides, marine proteins, etc.)
By Ingredient Type:
- Protein
- Ash
- Fatty Acids
- Others (enzymes, vitamins, etc.)
By Form:
- Powder
- Liquid
By End Use:
- Poultry Feed
- Aquaculture
- Food & Beverage
- Animal/Pet Food
- Cosmetic & Personal Care
- Dietary Supplement& Sports Nutrition
- Infant Formula
- Pharmaceuticals
- Others (fertilizers, emulsion, etc.)
By Region:
- North America
- Europe
- Latin America
- East Asia
- Oceania
- South Asia
- Middle East & Africa
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