Growing Demand for Natural and Sustainable Products Resulted in the Marine Active Ingredients Market Reaching a US$ 18,058.5 Million Valuation in 2033

The Marine Active Ingredients Market is experiencing rapid growth due to the increasing demand for natural and sustainable products. Consumers' preference for eco-friendly ingredients is driving the market's popularity. According to a Future Market Insights study, the global market is projected to reach US$ 18,058.5 Million by 2033. The study also identifies other industry drivers, challenges, and the market share of key players

NEWARK, Del, July 31, 2023 (GLOBE NEWSWIRE) -- 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, seaweeds, 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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Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global marine active ingredients market 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 market 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.

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

About the Food & Beverage Division at Future Market Insights (FMI)

FMI's Food & Beverage team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.

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