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Marine Biotechnology Market Anticipated To Witness Robust Growth, Surpassing $8.97 Billion By 2029
Marine Biotechnology
What Is the Current Marine Biotechnology Market Size and Its Estimated Growth Rate?
The Marine Biotechnology Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Current Marine Biotechnology Market Size and Its Estimated Growth Rate?
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How Are Emerging Segments Shaping the Marine Biotechnology Market Landscape?
The marine biotechnology market covered in this report is segmented -
1) By Type: Bio Active Substance, Bio Materials
2) By Source: Corals And Sponges, Algae, Marine Viruses, Marine Fungi, Other Sources
3) By Technology: Isolation And Cultivation of Microorganisms, Culture-Independent Techniques
4) By Application: Aquaculture And Food Products, Environment And Human Health, Drug Discovery
5) By End User: Medical And Pharmaceutical, Food Industry, Cosmetic Industry, Chemical Industry, Other End Users
Subsegments:
1) By Bio Active Substance: Marine-Derived Pharmaceuticals, Nutraceuticals, Enzymes
2) By Bio Materials: Biopolymers, Bio-Composite Materials, Bio-Based Coatings
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Which Growth Factors Are Influencing Marine Biotechnology Market Expansion?
The marine biotechnology market is expected to witness significant growth due to the escalating demand in the energy sector. This sector consists of industries involved in the production and supply of consumable fuels, including coal, oil, and gas. Marine biotechnology plays a crucial role in creating more effective and environment-friendly energy systems. It includes methods of converting waste into electricity using marine microbes and the production of biofuels from microalgae. The unique features and functions of marine organisms are exploited in marine biotechnology for various applications, including biofuel creation, marine renewable energy, the formation of biodegradable products, and bioremediation. Therefore, the growing energy sector is anticipated to reinforce the expansion of the marine biotechnology market. For instance, a recent report released by the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, revealed that the global energy demand grew by 6% in 2021, marking the highest growth in absolute terms, with an increase of more than 1,500 terawatt-hours. The report further envisages an average yearly growth rate of 2.7% in electricity demand for 2022-2024. Consequently, the growing demand for marine biotechnology in the energy sector is a key driver of growth for the marine biotechnology market.
Who Are the Dominant Players Across Different Marine Biotechnology Market Segments?
Major companies operating in the marine biotechnology market include Cyanotech Corporation, CP Kelco US Inc., PharmaMar S.A., Sea Run Holdings Inc., Nofima A.S., New England Biolabs Inc., Lonza Group Ltd., NovaMatrix, GlycoMar Ltd., SEPPIC Inc., Marinova Pty. Ltd., Prolume Ltd., Aker Biomarine Antarctic AS ., Badische Anilin- und Sodafabrik, Royal DSM N.V, Tequesta Bioventures LLC, Marinomed Biotech AG, AstaReal Co. Ltd., Euglena Co.Ltd., Earthrise Nutritionals LLC, Bluebiotech International GmbH, Sams Corporation, Abbott Laboratories, Qingdao Codo International Ltd., Nutrex Hawai Inc., Kepley Biosystems Incorporated, Finless Foods Inc., Jellagen Pty Ltd, Ingenza Ltd, AMSilk GmbH, Centre for Process Innovation Limited, KnipBio Inc.
What Are the Latest Developing Trends in the Marine Biotechnology Market?
A prevailing trend growing in popularity in the marine biotechnology market is product innovation. A key strategy for big firms involved in this market is to develop innovative products in order to solidify their market standing. An excellent example of this came in September 2024 when Taiwan-based biotechnology firm Hi-Q Marine Biotech International Ltd rolled out its product - OliFuco RE, aimed at managing sarcopenia and advancing tissue growth, with a focus on age-induced muscle loss. OliFuco RE, a bioactive low molecular weight fucoidan powder harnessed from brown seaweed, is known to boost muscle regeneration and considerably uplift muscle mass and power in elderly people. Its scientifically-supported composition provides a hopeful answer to combating sarcopenia, symbolizing a potential landmark in nutraceuticals focused on muscle conservation and growth.
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Which Geographic Regions Are Expected to Dominate the Marine Biotechnology Market in the Coming Years?
Europe was the largest region in the marine biotechnology market in 2024. The regions covered in the marine biotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Marine Biotechnology Market?
2. What is the CAGR expected in the Marine Biotechnology Market?
3. What Are the Key Innovations Transforming the Marine Biotechnology Industry?
4. Which Region Is Leading the Marine Biotechnology Market?
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