Bio-Marine Ingredients Market to Witness Steady Growth, Projected to Reach US$ 4,011.5 Million by 2033, Fueled by a CAGR of 5.7%

The global bio-marine ingredients market is anticipated to reach a market valuation of US$ 2,307.4 million in 2023. Over the forecast period (2023 to 2033), global bio-marine ingredients demand is estimated to grow at 5.7% CAGR. By 2033, the total market is projected to reach US$ 4,011.5 million valuation.

Due to the overexploitation of terrestrial resources and the problem of waste disposal, modern communities all over the world are in urgent need of alternative, sustainable, and eco-friendly resources.

Humans today need more help from the medical, nutritional, and biological fields in order to age better. In order to find new and different sources of natural substances, research has concentrated on bio-marine components.

In the previous 20 years, more than 175 chemical entities and more than 28 bio-marine natural products have been discovered, and each year, hundreds of new ingredients are found. Additionally, there are currently seven approved medications made from marine sources that are being used in clinical trials, along with about 26 natural products that are through phase I to phase III clinical trials, demonstrating the importance that bio-marine ingredients have gained in the modern day.

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For instance, every year, fish processing companies generate huge volumes of fish waste, accounting for around 25% of total production. Over 70% of the waste is made up of skin, bones, scales, and fins.

Bio-marine ingredients like collagen extracted from fish peptides and waste derived from collagenous sources have been found to exhibit a variety of bioactivities with potential pharmacological and cosmeceutical applications, in addition to biomaterial for tissue engineering.

Hence, after recognizing the opportunity that bio-marine ingredients could offer, manufacturers started differentiating products in the market by leveraging unique sourcing methods, developing innovative formulations, emphasizing sustainability, highlighting health benefits, and targeting specific consumer segments with tailored marketing strategies.

For instance,

Malaysia Dairy Industries (MDI) has infused its nutritious probiotic drink with collagen peptides. This "Vitagen Collagen" drink promotes the growth of good gut bacteria and rejuvenates the skin.

Similarly, Avon also launched the Avon Life Marine Fish Peptide Collagen Drink, a novel drink made from superior-quality fish peptide collagen from salmon fish skin and fructo-oligosaccharides.

Nestle Malaysia has also released Nescafe Body Partner, Kacip Fatimah, and Collagen Coffee, all of which contain collagen derived from fish. Another nutraceutical drink rich in marine collagen and antioxidants for healthy skin is the Nutrova collagen+antioxidants (cranberry flavor).

-Key Takeaways from the Bio-Marine Ingredients Report:

· The bio-marine ingredients market is expected to be valued at US$ 2,307.4 million by 2023.

· Global demand for bio-marine ingredients is likely to soar at 5.7% CAGR over the forecast period.

· Based on source, demand for fish is expected to continue as it is holding a market share of 45% to reach a market valuation of US$ 1,805.2 million by the end of 2033.

· According to FMI analysis, the protein segment is predicted to attain a market share of 23.0% during the assessment period, resulting in a market size of US$ 922.6 million by 2033.

· The United States bio-marine ingredients market is projected to reach a valuation of US$ 1,343.9 million by 2033.

-Who is Winning?

Aker BioMarine AS, Cargill, Incorporated, CP Kelco U.S., Inc., FMC Corporation, Givaudan SA, Ingredion Incorporated, Lonza Group AG, Marinova Pty Ltd., Neptune Wellness Solutions Inc., Rousselot S.A.S., Seagarden AS, Symrise AG, Tate & Lyle PLC, The Archer Daniels Midland Company (ADM) are key bio-marine 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 bio-marine ingredients market.

For instance,

• In 2020, Bio-Marine Ingredients Ireland received a new investment of US$ 5.9 million. The biotech firm provides extracts of lipids, proteins, and calcium from fish for applications such as animal feed and food

• In 2020, French bio-marine ingredient company, Algaia, specializing in seaweed natural extracts, has recently wrapped up a US$2.4 million funding round, which it says it will use to develop a new variety of seaweed-based solutions that may be used to generate plant-based replacements.

· In 2021, the Korea National Marine Biodiversity Institute and Cj Cheiljedang collaborated to research potential marine-derived ingredients.

-Get More Valuable Insights

-Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global bio-marine 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 bio-marine ingredients market based on Source (Fish, Crustaceans, Algae, and Others), Type (Protein, Peptides, Collagens, Chitosan, Omega-3 Fatty Acids, Polysaccharides, Pigments, and Others), Application (Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, Agriculture & Animal Feed, and Others), across various regions.

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-Bio-Marine Ingredients Market by Category

-By Source:
Fish
Crustaceans
Algae
Others

-By Type:
Proteins
Peptides
Collagens
Chitosan
Omega-3 Fatty Acids
Polysaccharides
Pigments
Others

-By Application:
Food & Beverages
Cosmetics & Personal Care
Pharmaceuticals
Agriculture & Animal Feed
Others

-By Region:
North America
Europe
Latin America
East Asia
Oceania
South Asia
Middle East & Africa

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This release was published on openPR.