Marine Functional Ingredients Market

Marine Functional Ingredients Market Analysis by Product Type, by Form, by Ingredient Type, by End Use Application and Region - Global Market Insights 2023 to 2033

Analysis of Marine Functional Ingredients Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Marine Functional Ingredients Market Outlook (2023 to 2033)

The global marine functional ingredients market size is estimated to expand from US$ 4,080.7 million in 2023 to US$ 7,446.53 million by 2033. Over the next ten years (2023 to 2033), global Marine functional ingredients sales are likely to soar at 6.2% CAGR.

Key Trends Listed by Fact.MR :

  • Increasing demand for natural and sustainable ingredients in the marine functional ingredient market is a key trend, driven by growing consumer awareness and preference for clean-label products derived from marine sources.
  • Ongoing research and development efforts are aimed at exploring the untapped potential of marine resources for functional ingredient applications.
  • Increasing consumer awareness and demand for sustainable and eco-friendly products, there is a rising emphasis on marine functional ingredients obtained from sustainable sources.
  • Increasing consumer awareness about the health benefits of marine-derived ingredients, such as antioxidants and minerals
  • The rising popularity of natural and sustainable marine ingredients is driven by environmental concerns and clean-label trends.
  • Strong market potential in the Asia-Pacific region, fueled by changing dietary habits and increasing disposable incomes.
  • Innovation and product diversification by manufacturers to cater to specific health needs and dietary preferences.
  • Growing research and development efforts to discover new marine sources and develop novel functional ingredients.
  • Increasing regulatory scrutiny and quality standards to ensure the safety and traceability of marine-derived products

Normally marine functional ingredients used in human and animal feed. Marine ingredients are thought to produce healthy goods. Fish, shellfish, krill, and algae are just a few of the different types of marine life that make up the marine ingredients. It is also anticipated that rising consumer preference for organic goods over conventional ones will fuel the market for marine ingredients. The increase in demand from the food, beverage, and animal feed industries is also anticipated to restrain market growth for marine ingredients.

On the other hand, the market expansion for marine ingredients is anticipated to be hampered by variations in the availability of raw materials over the timeline. Additionally, the cosmetic industry's growing demand will likely present additional opportunities for the market for marine ingredients to expand over the next few years.

However, shortly, the demand from consumers and the rigidity of the laws may further impede the market's expansion for marine ingredients.

Attributes

Key Insights

Estimated Global Marine functional ingredients Market Size (2023E)

US$ 4,080.7 million

Projected Marine functional ingredients Market Value (2033F)

US$ 7,446.5 million

Value-based CAGR (2023 to 2033)

6.2%

Top 3 Countries’ Value

US$ 1142.5 million

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2018 to 2022 Global Marine functional ingredients Sales Outlook Compared to Demand Forecast from 2023 to 2033

According to the Fact.MR analysis, global Marine functional ingredients sales grew at a CAGR of 6.1% from 2018 to 2022. For the next ten years, the worldwide market for Marine functional ingredients is forecast to progress at 6.2% CAGR.

Local companies are attempting to collaborate with international players in the marine ingredients market to significantly expand their market share. Grainbridge LLC was established in March 2019 by a partnership between two market participants, Cargill Incorporated and Archer Daniels Midland Company. The primary reason for founding Grainbridge LLC was to learn more about grain marketing initiatives and online commerce with North American producers.

The market for marine ingredients is anticipated to grow significantly as a result of the recent rise in consumer preference for organic products over conventional ones. Because of this, both small and large marine ingredient market participants have been increasing their ability to produce organic foods and drinks.

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Adjacent Markets Overview :

Ingredients Market for Plant-based Food & Beverages :

Attributes Ingredients Market for Plant-based Food & Beverages

CAGR (2023 to 2033)

15%

Market Value (2033)

US$ 9.3 billion

Growth Factor

The increasing popularity of protein and other ingredients with increasing income.

Opportunity

expanding cutting-edge technologies, government initiatives, and innovative products.

Key Trends

Escalating consumer demand for vegan goods, probiotics, Omega-3 products, and healthy lifestyles.

Marine Enzymes Market :

Attributes Marine Enzymes Market

CAGR (2023 to 2033)

6.8%

Market Value (2033)

US$ 876.34 million

Growth Factor

Increasing enzymes range of potential applications in various industries on a global level.

Opportunity

Marine enzymes offer a natural and sustainable alternative to synthetic chemicals, opening up a sizable market.

Key Trends

Marine enzymes offer a flexible and natural solution for many health and wellness applications, creating a sizable opportunity for market expansion.

Marine Collagen Market :

Attributes Marine Collagen Market

CAGR (2023 to 2033)

6.8%

Market Value (2033)

US$ 1.8 billion

Growth Factor

Marine collagen-based supplements with a high protein content are in high demand.

Opportunity

Ability to enhance skin comfort, hydrate the epidermis, boost skin elasticity, condition, and skin and hair, and counteract surfactant side effects.

Key Trends

The popularity of vegan products, probiotics, Omega-3 products, and healthy lifestyles is growing.

Country-wise Insights :

North America - CAGR

Country CAGR (%)
United States 9.7%

Europe - CAGR

Country CAGR (%)
United Kingdom 4.7%

Asia Pacific - CAGR

Country CAGR (%)
China 8.7%
India 10.0%
Japan 7.6%

North America - BPS Analysis

Country BPS Analysis
United States 45

Europe - BPS Analysis

Country BPS Analysis
United Kingdom 80

Asia Pacific - BPS Analysis

Country BPS Analysis
China -30
India 20
Japan 65

North America - Market Value (2033)

Country Market Value (2033)
United States US$ 2435.0 million

Europe - Market Value (2033)

Country Market Value (2033)
United Kingdom US$ 283.0 million

Asia Pacific - Market Value (2033)

Country Market Value (2033)
China US$ 498.9 million
India US$ 960.6 million
Japan US$ 781.9 million

Will China Retain its Dominance in the East Asia Marine functional ingredients Market?

Rising Demand from Numerous Industries Such as Pharmaceuticals, Cosmetics, And Food.

As per Fact.MR, China's Marine functional ingredients market is expected to reach a valuation of around US$ 498.9 million by 2033. It will therefore hold a prominent value share of 6.7% in the East Asia market.

East Asia's market for marine functional ingredients has long been dominated by China. Due to the extensive to coastline and easy access to a variety of sea resources, it has developed a sizable presence in the producer and exporter and of functional foods like seaweed extracts, fish oil, and collagen.

China's economy dominance can be attributed to a number of factors, including its pretty sizeable aquaculture sector, state-of-the-art process technology, and competitive prices. China has also invested in research and development order to meet the growing improve and enlarge its range range of industries, marine functional ingredients in such as the demand from a pharmaceutical, cosmetic, and food sectors.

The extent to which China would then eventually dominate the East Asian market for marine functional ingredients depend on a number of factors, including economic trends, governmental reforms, and competition from other countries. Other nations in the region, like South Korea innovation capacity. Japan, might be able to boost their market positions by leveraging their technological advancements strong.

What is Driving Marine functional ingredients Demand in the United States?

Consumer Awareness and Interest in Healthy and Natural Products

According to Fact.MR analysis, the United States Marine functional ingredients industry is poised to exhibit a CAGR of 8.6% during the assessment period. By 2033, the United States market size is expected to reach US$ 2435.0 million.

Several factors primarily influence the demand for marine functional ingredients in the United States. First and foremost, consumers are becoming more aware of and interested in natural and healthy products. Marine sources like algae, seaweed, fish, and shellfish, which are abundant in vital nutrients like omega-3 fatty acids, proteins, vitamins, and minerals, are used to make marine functional ingredients.

Numerous facets of human health, such as cardiovascular health, brain function, immune support, and skin health, are thought to benefit from these ingredients. Marine functional ingredients present a compelling alternative for consumers looking for natural and eco-friendly substitutes for conventional ingredients.

Second, the demand for functional foods and dietary supplements has increased as chronic health conditions and lifestyle diseases become more common. People are turning to functional ingredients that can offer specific health benefits as concerns about obesity, diabetes, and heart disease increase by lowering blood pressure and cholesterol levels, marine functional ingredients have been shown to improve cardiovascular health. They can promote joint health and have anti-inflammatory qualities. The demand for marine-derived ingredients in dietary supplements, fortified foods, and beverages is rising as a result.

Furthermore, the United States has a strong and vibrant food and beverage industry that is constantly seeking innovation and new product development. Marine functional ingredients offer a unique opportunity for food manufacturers to create new and differentiated products. They can be incorporated into a wide range of food and beverage applications, including snacks, dairy products, beverages, and functional bars. The versatility of marine ingredients allows for creative formulations and product offerings that cater to evolving consumer preferences for healthier and functional options.

What is the Demand Outlook for Marine functional ingredients in Indian Market?

Rising Awareness About the Health Benefits of Marine-Based Products.

Marine functional ingredients demand in India is anticipated to rise at a steady CAGR of 10.0% during the forecast period from 2023 to 2033.

In India, marine functional supplements are becoming popular because of high nutrition values, which every Indian need in their diet and Indian changing life style towards more valuable food products and becoming contniusely use in cosmetic products. Manufacturers have explored using marine-derived molecules in personal care products due to their skin-soothing attributes.

Cosmetics formulated with carrageenan polymers isolated from red algae display enhanced stability and moisture retention while reducing irritancy compared to unmodified gels. Furthermore, dermal applications made from hydrolysed keratin proteins extracted from cold water shrimp or crab enhance wound healing through improved blood flow and collagen production via local release of growth factors and cytokines.

While scientific evidence supporting human clinical trials remains limited so far, the combination of modern Western science and ancient Eastern wisdom seems promising in guiding further research into this realm of ocean biotechnology.

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Category-wise Insights :

Which Type of Form of Marine Functional Ingredients is Leading the Global Market?

Marine Functional Ingredients in Powder Form Have Grown in Popularity And Taken The Top Spot.

The marine functional ingredients segment is projected to reach a valuation of US$ 7,446.53 million in 2033.

The powder form of marine functional ingredients has gained popularity and seized the top position on the international market because of a number of factors. Food and beverage, nutraceuticals, pharmaceuticals, cosmetics, and personal care products can all benefit from the easy incorporation of powdered marine functional ingredients. It is simple to mix, blend, and disperse into different formulations because of the powder form.

Compared to other forms, such as liquids, powdered marine functional ingredients have improved stability and longer shelf life. This is crucial for marine ingredients because they frequently contain bioactive substances that can deteriorate over time. These ingredients are kept more effectively and with greater integrity in powder form.

Compared to other forms, powders are easier to handle, transport, and store. They are portable, lightweight, and less likely to leak or spill while being transported. They can also be kept in dry environments, which lowers the chance of microbial development or product degradation.

How Marine Functional Ingredients End Use Application Use in Food and Animal Feed Industry?

Rising Demand for Nutraceuticals and Dietary Supplements in Food Industry and Aquaculture Feeds in Animal Feed

The food and animal feed industries use marine functional ingredients for a variety of end uses. These ingredients come from marine sources like seaweed, algae, fish, and shellfish. They provide special nutritional and practical qualities that can raise the caliber and usefulness of food items and animal feeds. Here are a few typical uses for marine-based functional ingredients. Marine products are incorporated into functional ingredients to boost their nutritional value and beneficial compounds.

For instance, functional beverages, dairy products, and baked goods can all have their omega-3 content increased by adding fish oil or omega-3s derived from algae.

Aquaculture feeds, which are used to feed farmed fish and shellfish, are extremely important sources of marine functional ingredients. Fishmeal and fish hydrolysates are examples of marine-based protein sources that offer vital nutrients and amino acids required for growth and development.

Why is Demand for Marine functional ingredients Rising Globally?

Consumer Trend Shift toward Natural Ingredients

The pressed stock segment is expected to register a CAGR of 6.2% from 2023 to 2033. The target segment is likely to reach a market value of US$ 7,446.53 million by the end of 2033.

Consumer Trend Shift toward Natural Ingredients, Consumers increasingly prioritize "clean label" options lacking artificial flavours, colours, and preservatives. Marine ingredients often possess intrinsic sensorial profiles and functionality, eliminating the need for synthetic intermediates common in processed foods.

Food manufacturers seeking to meet evolving consumer expectations may explore marine functional alternatives to achieve desired taste, texture, colour, and health benefits. Apart from that, there is multiple health benefits from marine ingredient, which affect positive in human body and help to maintain health of humans.

Competitive Landscape :

Leading Marine functional ingredients manufacturers are constantly launching a new range of products to meet consumer demand. They are also using strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements to gain a competitive edge in the market.

For instance :

  • In 2017, FMC acquired a significant portion of DuPont's Crop Protection business and established FMC Health and Nutrition. FMC Health and Nutrition offers marine-derived functional ingredients for the food, beverage, and nutraceutical markets, including carrageenan, alginates, and omega-3 fatty acids.
  • CP Kelco is a global producer of specialty hydrocolloids, including carrageenan, pectin, and alginate, derived from renewable natural raw materials such as seaweed. While specific recent developments may vary, CP Kelco has been focused on expanding its product portfolio and optimizing production processes to meet the growing demand for sustainable and natural ingredients in various industries.

Scope of the Report :

Attribute Details

Market Size Value in 2023

US$ 4,080.7 million

Market Forecast Value in 2033

US$ 7,446.5 million

Anticipated Growth Rate (2023 to 2033)

6.2% CAGR

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

  • Volume (MT)
  • Value (US$ Million)

Key Regions Covered

  • Latin America
  • North America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • Canada
  • United States
  • Mexico
  • Brazil
  • Chile
  • Peru
  • Argentina
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom
  • Netherlands
  • Belgium
  • Nordic
  • Russia
  • Poland
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Singapore
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa
  • Central Africa
  • Others

Key Market Segments Covered

  • Product Type
  • Form
  • Ingredient
  • End Use Application
  • Region

Key Companies Profiled

  • Symrise
  • Scanbio Marine Group
  • Hofseth BioCare
  • Cargill, Incorporated
  • Copalis
  • Bio-marine Ingredients Ireland Ltd.
  • Sopropeche
  • Alaska Protein Recovery
  • BioOregon Protein
  • KD Nutra

Marine functional ingredients Market by Category :

  • By Product Type :

    • Fish Meal
    • Fish Oil
    • Other
  • By Form :

    • Powder
    • Liquid
  • By Ingredient Type :

    • Protein
    • Fatty
    • Acid
  • By End Use Application :

    • Animal Feed
    • Food & Beverages
    • Pharmaceuticals
    • Cosmetics
    • Personal Care
    • Other
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • Middle East & Africa

- FAQs -

How big is the global Marine functional ingredients industry?

The Marine functional ingredients market is estimated to reach a valuation of about US$ 4,080.7 million in 2023.

What is the growth projection for the worldwide Marine functional ingredients industry by 2033?

The global Marine functional ingredients market value is projected to reach US$ 7,446.5 million by 2033.

At what rate is global demand for Marine functional ingredients expected to increase from 2023 to 2033?

Global Marine functional ingredients demand is expected to increase at a CAGR of around 6.2% through 2033.

Which region is expected to hold a prominent market share by the end of 2023?

The United States is expected to have a market share of 31.6% by the end of 2033.

What was the historical CAGR for the Marine functional ingredients Market?

Global demand for Marine functional ingredients registered a CAGR of 6.1% historically, from 2018 to 2022.

- Also of Interest -

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Marine Functional Ingredients Market