The global bio-marine ingredients market is set to enjoy a valuation of USD 2,307.4 million in 2023, and further expand at a CAGR of 5.7% to reach USD 4,011.5 million by the year 2033.
Key Trends Listed by Future Market Insights (FMI):
During the processing of fishing resources, a considerable amount is either gets discarded or used to make low-value fish oil and meal. Approximately 10% of the animal weight gets wasted during processing which generates 9000 000 tons per year of waste from these sources.
Recent biotechnological advances have led to the discovery of bio marine ingredients such as collagen as functional biomaterials with therapeutic applications.
For instance, the high potential of collagen and its peptides has sparked a revolution in the medical industry, especially in orthopedics, ophthalmology, surgery, and dentistry. It is also used in cosmetics as a natural humectant, moisturizer, anti-aging, and anti-wrinkling product.
According to the World Health Organization's International Agency for Research on Cancer (IARC), there were 19.29 million new cancer cases worldwide in 2020, with a projected increase to 27 million by 2040, with 9.96 million deaths.Likewise, in China, there were 4.57 million new cancer diagnoses and 3 million deaths which makes China the world's highest rate of new cancers and cancer deaths which necessitated cost-effective treatment, and after long research, it has been discovered that polysaccharides have potential to be used as a cancer therapeutic agent.
Furthermore, polysaccharides have an anticancer effect by increasing patients' immunological function due to which the immunoregulatory action of polysaccharides is now recognized as one of the key mechanisms of the antitumor effect.
Hence, companies are making efforts to satisfy consumer demand by incorporating advanced technology in processing to improve efficiency and reduce waste and offer novel products to consumers.
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.
| Attributes | Key Insights |
|---|---|
| Estimated Global Bio-Marine Ingredients Market Size (2023E) | USD 2,307.4 million |
| Projected Bio-Marine Ingredients Market Value (2033F) | USD 4,011.5 million |
| Value-based CAGR (2023 to 2033) | 5.7% |
| Top 3 Countries’ Share | 34% |
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| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2022 Projected (P) | 5.1% |
| Jul to Dec (H2), 2021 (A) | 4.9% |
| Jul to Dec (H2), 2022 Projected (P) | 5.8% |
| Jan to Jun (H1), 2022 Outlook (O) | 4.7% |
| Jul to Dec (H2), 2022 Outlook (O) | 6.0% |
| BPS Change: H1, 2022 (O) to H1, 2021 (A) | 42 |
| Jan to Jun (H1), 2023 Projected (P) | 5.3% |
| BPS Change: H1, 2022 (O) to H1, 2022 (P) | 37 |
| Jan to Jun (H1), 2021 (A) | 4.3% |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | -27 |
According to the Future Market Insights (FMI) analysis, global bio-marine ingredients sales grew at a CAGR of 5.5% from 2018 to 2022. For the next ten years, the worldwide market for bio-marine ingredients is forecast to progress at 5.7% CAGR.
Over the years, bio-marine ingredient demand has surged as a result of enhanced processing technology and advanced packaging systems. Key players are adopting advanced packaging systems such as Active Packaging Systems, Smart Packaging Systems, and Intelligent Packaging Systems.
For instance, Intelligent Packaging Systems notify users of the condition of food and its environment. It can also perform intelligent functions such as sensing, detecting, recording, communicating, tracing, and applying scientific logic to make decisions in order to improve safety, extend shelf life, provide information, improve quality, and warn about potential problems as well.
Advancements in bio-marine ingredients processing technology are helping key players explore more and innovate products to fill the demand-supply gap. For example, recently it has been observed that fish protein hydrolysate can be used as a milk replacement and food flavoring.
It has favorable functional properties with prospective applications as binder agents and emulsifiers and can be utilized in place of currently available dairy-based and plant-based protein hydrolysates as well as protein powders.
A wide range of FPH nutraceuticals are commercially produced and sold in worldwide markets along with oyster peptides that had antioxidant and anti-inflammatory properties. Similarly, squilla meat hydrolysate when put into a batter mix, successfully reduces oil absorption in breaded and battered goods. All these increasing applications of bio marine ingredients have driven the market ahead.
Chitosan Market:
| Attributes | Chitosan Market |
|---|---|
| CAGR (2023 to 2033) | 14.3% |
| Market Value (2033) | USD 5,112.4 million |
| Growth Factor | Increased demand in the pharmaceutical and biomedical industries for use in drug delivery systems, wound healing, tissue engineering, and other applications. |
| Opportunity | Continued R&D efforts can open up new opportunities to offer improved product formulations and characteristics of chitosan. |
| Key Trends | consumer demand for environmentally friendly products is increasing hence the chitosan market is also experiencing a shift towards more sustainable sourcing. |
Collagen Hydrolysates Market:
| Attributes | Collagen Hydrolysates Market |
|---|---|
| CAGR (2023 to 2033) | 7.2% |
| Market Value (2033) | USD 1.1 billion |
| Growth Factor | Increasing consumer awareness of health and well-being is driving demand for natural and functional ingredients, which is propelling the market forward. |
| Opportunity | Benefiting from the growing demand for sports nutrition products presents a lucrative opportunity for collagen hydrolysate manufacturers. |
| Key Trends | Trends of Customised and specialized collagen products are becoming popular, allowing companies to cater to specific industry demands. |
Algae Protein Market:
| Attributes | Algae Protein Market |
|---|---|
| CAGR (2023 to 2033) | 5.5% |
| Market Value (2033) | USD1,351.5 million |
| Growth Factor | The growing need for plant-based protein driving the demand for algae protein as it provides a plant-based alternative to traditional animal-based proteins. |
| Opportunity | food and beverage industry presents a significant opportunity as it can be used in various food products, including plant-based meat alternatives, and nutritional supplements. |
| Key Trends | Food companies, algae protein manufacturers, and research institutions are teaming up in order to revolutionize the market with their collaborative efforts. This trend is becoming increasingly important. |
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 8.5% |
| Market Value (2033) | USD 1,343.9 million |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 4.2% |
| Market Value (2033) | USD 208.6 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 8.2% |
| Market Value (2033) | USD 1,195.4 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 9.5% |
| Market Value (2033) | USD 381.1 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 6.5% |
| Market Value (2033) | USD 449.3 million |
Increasing Trend of Consuming Supplements Benefitting the Market in The United States
According to FMI analysis, the marine bio-marine ingredients market in the United States is expected to grow at a CAGR of 8.5% from 2023 to 2033 to reach a valuation of USD 1,343.9 million by 2033.
According to research conducted by The Council for Responsible Nutrition (CRN), more than half of consumers (52%) consume specialized supplements consisting of probiotics, omega-3s, and melatonin. Among these, fiber is the most commonly consumed.
This trend of providing nutrition externally through supplements is boosting the sales of pharmaceuticals and the nutraceutical industry in the United States and it is impacting positively on the sales of Bio marine ingredients as the demand for marine collagen, peptide, and Omega-3 Fatty Acids is increasing in the United States.
Consistent Efforts Taken by ICAR Have Boosted the Growth of The Market in India
Bio-marine ingredients demand in India is anticipated to grow at a CAGR of 9.5% during the forecast period from 2023 to 2033. India is likely to reach a market valuation of USD 381.1 million by the end of 2033.
As bio-marine ingredients are commodities that are sold all over the world. ICAR-CIFT is an autonomous organization that has been conducting extensive research and development on the quality and safety of ingredients.
In 1996, the Indian Council of Agricultural Research established a branch to conduct research, consultancy, training, and analytical services in bio-marine ingredient quality assurance.
Then, technological advancements in the harvest and postharvest sectors, catalyzed by modern electronic technologies for navigation and fish location, as well as energy-efficient processing aids in infrastructures for market development, have positively impacted the growth of India's bio-marine ingredients market.
Governmental support encouraging manufacturers to innovate and offer to consumers
The Chinese market for bio-marine ingredients is expected to attain a market size of USD 1,195.4 million by 2033, with a projected CAGR of 8.2%.
The Chinese government has strongly encouraged and supported the growth of the bio-marine industry, including cultured bio-marine ingredients. Policies, incentives, and financial support have been implemented to encourage research and development along with the commercialization of bio-marine products and establishing a favorable market environment.
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Increasing Awareness of The Health Benefits Associated Is Driving the Demand for Fish
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 USD 1,805.2 million by the end of 2033.
Fish are well-known for their high protein content and omega-3 fatty acid content, particularly EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid) hence they are highly recognized as a bio-marine ingredient due to their nutritional profile.
Fish also have a gentler and more appealing flavor than crustaceans and several other marine species. This makes fish more appealing to consumers and consumers frequently link fish with health benefits, such as the aforementioned omega-3 fatty acids, natural and wholesome dietary option.
This consumer choice drives the preference for fish as a bio-marine ingredient in a variety of food and dietary supplement products.
Increasing desire of consumers to lead a healthy life benefitting the protein segment
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 USD 922.6 million by 2033.
Over the years the fitness industry has grown drastically with an increasing urge to lead a healthy life with a strong emphasis on muscle building and athletic performance. It has been observed that protein powder and supplements have become popular among athletes, bodybuilders, and fitness enthusiasts due to their ability to aid in muscle recuperation, synthesis, and performance and this has resulted in increased sales of proteins sourced from bio-marine ingredients.
Increasing Concern to Fulfill Nutrition Externally Encouraging Food and Beverage Manufacturers to Diversify the Products
According to FMI, there is an increasing application of bio-marine ingredients that forms a market share of 45.0% and is anticipated to reach a market valuation of USD 1,404.0 million by the end of 2033.
When bio-marine ingredients such as omega-3 fatty acids, proteins, and other bioactive ingredients are combined in food and beverage applications to offer substantial nutritional value and health advantages to consumers.
Likewise, consumers are increasingly looking for functional foods and beverages that offer beyond basic nutrition. The potential benefits of bio-marine ingredients such as boosting heart health, cognitive function, and overall well-being make ingredients appealing to manufacturers and consumers as well.
The bio-marine ingredients market has a diverse and dynamic competitive landscape. To serve industries such as food and drinks, cosmetics, pharmaceuticals, and supplements, leading companies specializing in diverse fields are focusing on research and development, sustainable sourcing, and new formulations.
These companies emphasize environmentally friendly practices, product certifications, and satisfying the increased demand for natural and sustainable ingredients. Additionally, it tries to preserve its market position and capitalize on the growing demand by focusing on quality, innovation, and matching customer preferences.
For instance:
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 2,307.4 million |
| Market Forecast Value in 2033 | USD 4,011.5 million |
| Anticipated Growth Rate (2023 to 2033) | 5.7% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Volume (MT) and Value (USD Million) |
| Key Regions Covered | Latin America; Europe; South Asia; North America; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Mexico, Canada, Chile, Brazil, Peru, Argentina, France, Germany,Spain, Italy, Netherlands, United Kingdom, Nordic, Belgium,Russia, Poland, Japan, South Korea, China,India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Source, Type, Application, and Region |
| Key Companies Profiled | Aker BioMarine AS; Cargill, Incorporated; CP Kelco USA, 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) |
The market valuation is likely to be around USD 2,307.4 million in 2023.
The global demand for bio-marine ingredients expanded at 5.5% CAGR between 2018 and 2022.
The United States market is predicted to generate USD 1,343.9 by 2033.
Growing popularity of organic products to drive this regional market at 4.2% CAGR through 2033.
Increasing research and development spending is projected to record a growth of 9.5%.
| Estimated Market Size (2024E) | USD 10,069.3 million |
|---|---|
| Projected Industry Value (2034F) | USD 13,143.3 million |
| Value-based CAGR (2024 to 2034) | 2.70% |
| Expected Market Value (2023) | USD 3,343.5 million |
|---|---|
| Anticipated Forecast Value (2033) | USD 6,838.2 million |
| Projected CAGR (2023 to 2033) | 7.4% |
| Market Value (2023) | USD 3.26 billion |
|---|---|
| Market Expected Value (2033) | USD 7.36 billion |
| Market Projected CAGR (2023 to 2033) | 8.5% |
| Expected Market Value (2022) | USD 392.7 Million |
|---|---|
| Market Anticipated Value (2032) | USD 520.4 Million |
| Projected Growth Rate (2022 to 2032) | 2.6% CAGR |
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