Marine-derived Protein Market to Achieve US$ 11.32 Bn by 2030 - Persistence Market Research

The global marine-derived protein market is witnessing a substantial shift in the food and nutrition industry. From a market valuation of USD 7.33 billion in 2023, it is forecast to reach USD 11.32 billion by 2030, growing at a 6.4% CAGR. This growth is fueled by increasing consumer awareness of sustainable and nutritionally rich protein alternatives.

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Market Drivers

1. High-Quality Nutrition from Marine-derived Proteins

Marine-derived proteins offer a superior nutritional profile, making them an attractive alternative to traditional animal-based proteins. Rich in essential amino acids, omega-3 fatty acids, and minerals, these proteins play a critical role in supporting cognitive and cardiovascular health.

As consumers seek healthier options, the preference for marine proteins over conventional meat-based proteins has surged. This shift is further reinforced by innovative aquaculture techniques and ethical fishing practices that ensure sustainability.

2. Rising Awareness of Sustainable Protein Sources

Sustainability remains a key focus for consumers and manufacturers alike. Marine-derived proteins are perceived as a more environmentally friendly alternative due to their lower ecological footprint compared to livestock-based proteins.

Moreover, the food industry's push toward eco-conscious sourcing and ethical production methods has driven the demand for marine proteins. Aquaculture, algae-based protein extraction, and responsible fishing practices are key contributors to this growing market.

3. Increasing Demand in Food, Pharmaceutical, and Cosmetic Sectors

Marine proteins are widely used in various industries beyond food and beverages. The pharmaceutical and cosmetic industries have embraced marine-derived bioactive compounds for their anti-inflammatory, antioxidant, and collagen-boosting properties.

The demand for functional foods, nutraceuticals, and protein-based skincare products continues to rise, positioning marine proteins as an essential ingredient in these fast-growing markets.

Market Challenges

1. Environmental Concerns and Overfishing Risks

One of the significant challenges facing the marine-derived protein market is the sustainability of marine ecosystems. Overfishing to meet increasing demand can disrupt aquatic biodiversity, leading to long-term environmental consequences.

Bycatch, habitat destruction, and heavy metal contamination in marine species also present concerns that require strategic solutions, such as sustainable aquaculture and stricter fishing regulations.

2. High Costs and Import Tariffs

The production of marine-derived proteins involves advanced extraction technologies, including enzymatic hydrolysis and nanotechnology applications, leading to higher costs. Additionally, many regions rely on imports, and high tariffs on marine-based protein products further increase end-user prices.

Middle-income consumers often opt for cheaper alternatives, limiting market penetration in certain regions. Overcoming cost barriers through technological innovations and government incentives will be crucial for market expansion.

Growth Opportunities

1. Rising Adoption of Alternative Protein Sources

As plant-based and alternative protein diets gain traction, marine proteins stand out as an innovative, sustainable, and nutrient-dense option. Algae-based protein products are emerging as a viable alternative, catering to vegan and vegetarian consumers seeking high-protein, eco-friendly solutions.

2. Expanding Pharmaceutical and Cosmetic Applications

Marine-derived proteins are gaining popularity in medical and cosmetic research. The pharmaceutical sector is leveraging marine peptides for wound healing, anti-inflammatory treatments, and drug delivery systems.

Meanwhile, the cosmetic industry is investing in marine proteins for collagen synthesis, anti-aging solutions, and skin repair products, further expanding their commercial potential.

Analyst's Perspective

Industry experts highlight the increasing consumer preference for sustainable and functional protein sources as a major growth driver. Innovations in biotechnology, aquaculture, and marine ingredient processing will shape the market's future.

Partnerships between marine protein manufacturers, food processors, and pharmaceutical companies will further accelerate the sector's evolution, ensuring high-quality, ethically sourced, and nutritionally rich products for global consumers.

Competitive Landscape

Leading Companies in the Marine-derived Protein Market

Several key players are driving the marine-derived protein market through innovation, sustainability, and strategic expansion. Notable market participants include:

Omega Protein Corporation
Aroma NZ Ltd.
Hofseth BioCare ASA
GC Rieber Oils
Scanbio Marine Group
Golden Omega
Marine Ingredients
Sea Run Holdings Inc.
Arctic Nutrition AS
CP Kelco

These companies focus on sustainable sourcing, cutting-edge research, and new product development to stay ahead in this rapidly evolving market.

Recent Market Developments

1. Expansion in Krill Oil Production

In September 2023, Aker BioMarine recorded record-breaking sales of krill oil, citing increased demand for sustainably sourced omega-3 fatty acids. The company also announced plans to expand production capacity to meet growing consumer interest.

2. Strategic Partnerships for Market Penetration

In June 2023, Neptune Wellness Solutions partnered with a major food and beverage company in Asia-Pacific to enhance krill oil distribution. This collaboration aims to increase product accessibility and expand consumer reach in the region.

Market Segmentation

By Source:

Fish-derived Proteins
Algae-derived Proteins
Shellfish-derived Proteins
Marine Invertebrate Proteins

By End-user:

Food and Beverage Industry
Pharmaceutical Industry
Cosmetics and Skincare Industry

By Extraction Technique:

Enzymatic Hydrolysis
Supercritical Fluid Extraction
High-Pressure Processing (HPP)
Ultrasound-assisted Extraction
Microwave-assisted Extraction

By Type:

Concentrates
Isolates
Hydrolysates

By Region:

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

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This release was published on openPR.