Marine Biotechnology market is projected to reach US$ 6909.4 million by 2028 from an estimated US$ 5429.2 million in 2022, at a CAGR of 4.1% - Valuates Reports

Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Marine Biotechnology market is projected to reach US$ 6909.4 million by 2028 from an estimated US$ 5429.2 million in 2022, at a CAGR of 4.1% during 2023 and 2028.

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Marine biotechnology is an innovative field of research in science and engineering that encompasses the use of marine bioresources for a multitude of applications, including the production of food, fuel, materials or specific, often bioactive, compounds and may contribute to green growth and sustainable industries and prosperous communities.Marine biotechnological advancements have already resulted in some successes in diverse fields, including human health, pharmacology, fisheries, environmental recovery or restoration, food and cosmetics industries, agriculture and chemistry. Examples of applications resulting from biotechnological developments include the use of (micro- and macro-) algae for the production of biofuels and the production of marine-derived polysaccharides, which are one of the most abundant renewable biomaterials found on land and in the oceans.

Marine Biotechnology Market Highlights
The major players in global Marine Biotechnology market include Nofima, Sams, Aquapharm etc., and the market concentration rate is low. North America and Europe are main markets, they occupy over 60% of the global market. Marine Plant Technology is the main type, with a share about 60%. Pharmaceuticals and Nutritional Supplements are two key applications, they hold a share over 60%.

Marine Biotechnology Market Report Scope
This report aims to provide a comprehensive presentation of the global market for Marine Biotechnology, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyse their position in the current marketplace, and make informed business decisions regarding Marine Biotechnology.

The Marine Biotechnology market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2021 as the base year, with history and forecast data for the period from 2017 to 2028. This report segments the global Marine Biotechnology market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Marine Biotechnology companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.

Marine Biotechnology Market Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue by companies for the period 2017-2022. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:

Marinova
NEB
BiotechMarine
GlycoMar
Marine Biotech
Nofima
Sams
Aquapharm
Marine Biotechnology Market Product Type Insights
Global markets are presented by Marine Biotechnology type, along with growth forecasts through 2028. Estimates on revenue are based on the price in the supply chain at which the Marine Biotechnology are procured by the companies.

This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows revenue data by type, and during the historical period (2017-2022) and forecast period (2023-2028).

Segment By Type
➣Marine Animal Technolog
➣Marine Plant Technology

Marine Biotechnology Market Application Insights

This report has provided the market size (revenue data) by application, during the historical period (2017-2022) and forecast period (2023-2028).

This report also outlines the market trends of each segment and consumer behaviors impacting the Marine Biotechnology market and what implications these may have on the industry's future. This report can help to understand the relevant market and consumer trends that are driving the Marine Biotechnology market.

Segment By Application
➣Cosmetics
➣Pharmaceuticals
➣Fine Chemical
➣Nutritional Supplements
➣Regional Outlook

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