The global marine extract market size is set to reach a valuation of USD 6,054.4 million in 2023. It is anticipated to attain a valuation of around USD 10,117.5 million by 2033. From 2023 to 2033, the global marine extract sales are likely to soar at 5.3% CAGR.
| Attributes | Key Insights |
|---|---|
| Estimated Global Marine Extract Market Size (2023E) | USD 6,054.4 million |
| Projected Marine Extract Market Value (2033F) | USD 10,117.5 million |
| Value-based Marine Extract Market CAGR (2023 to 2033) | 5.3% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Marine extracts are set to be increasingly used in several industries due to their qualities, such as robust antioxidants, anti-inflammatory effects, antibacterial advantages, and anti-tumor potential. Several industries, such as pharmaceutical, cosmetics, nutraceutical, and biotechnology sectors, can profit from these capabilities.
The marine extract has incredible potential. It is projected to be used in food additives worldwide. Its use is also set to surge in the personal care and cosmetics industry as a significant ingredient for developing hair care and skincare products. Its demand is further anticipated to rise in nutritional supplements and agriculture fertilizers for use as active ingredients.
Leading manufacturers are still exploring the applications of marine extract, and ongoing research is revealing new compounds and potential uses for these extracts. These extracts are set to be a valuable and leading source of bioactive compounds with several applications in multiple industries.
The global marine extract market expanded at a CAGR of 5.0% between 2018 and 2022. The market is anticipated to exhibit a CAGR of 5.3% from 2023 to 2033.
Consumers are more health conscious in the modern era and quickly adopt a healthy lifestyle. They are looking for natural products. Hence, several manufacturers are using marine extracts as they are an organic and eco-friendly alternative to chemical ingredients. Their ability to provide several health benefits, including improved heart health, brain function, and immune system, is projected to drive demand.
As marine extracts are found in renewable marine resources less prone to pollution than land-based sources, their demand is set to expand. Additionally, advancements in extraction technologies and sustainable sourcing practices are reducing the environmental impact of marine extract production.
Another market-influencing trend is the use of advanced technology in food solutions. These aim to improve the quality and safety of extracts with the help of research & development. Key players are researching to find out more about the potential health benefits of extracts, which is driving demand from both manufacturers and consumers.
Principal Consultant
The table below explains the CAGR values of the top 5 countries in the global marine extract market. Regional forecast of the marine extract market by country states that India is anticipated to remain at the forefront by expanding at 11.8% CAGR between 2023 and 2033. It is followed by the United States and the United Kingdom, which are expected to reach a CAGR of 10.5% and 8.9%, respectively.
| Countries | Value-based CAGR (2023 to 2033) |
|---|---|
| United States | 10.5% |
| United Kingdom | 8.9% |
| China | 6.8% |
| India | 11.8% |
| Japan | 7.1% |
The United States is expected to gain traction in the North America marine extract market during the forecast period. The United States marine extract market is poised to exhibit a CAGR of 10.5% during the assessment period.
The United States has a well-established infrastructure for marine-based enterprises and manufacturers. These manufacturers and producers are set to use the extract in several products. Consumers in the United States are also aware of the benefits of these extracts. They are projected to choose natural and sustainable products that will lead to high sales.
Regulatory organizations, such as the National Oceanic and Atmospheric Administration (NOAA) and the Food and Drug Administration (FDA), have backed the usage and development of marine protein for a range of products. It includes food & drink, cosmetics, and pharmaceutical sectors, which are set to drive demand.
Japan's marine extract market is set to attain a valuation of around USD 711.1 million by 2033. The country is anticipated to exhibit a CAGR of 7.1% between 2023 and 2033.
Consumers in Japan are aware of all the traditional and culturally healthy products. They are consuming natural and organic products in their day-to-day lives. Key manufacturers are choosing marine extracts to develop new cosmetics and personal care products.
Dietary supplements and functional foods infused with marine extracts are set to gain momentum in Japan as these can prevent multiple health issues. This is owing to their anti-inflammatory properties, which can support joint and cardiovascular health. These are the key concerns in Japan that will drive demand.
Marine extract demand in India is anticipated to rise at 11.8% CAGR during the forecast period from 2023 to 2033. By 2033, India is likely to secure a valuation of USD 924.5 million.
The marine extract market in India is experiencing significant growth due to several factors. The government of India is focused on promoting the development of industries such as food, pharmaceuticals, and cosmetics in the country. It is expected to create a new opportunity in the marine extract market in India during the forecast period.
The increasing awareness among millennials about several health benefits of omega-3 fatty acids, antioxidants, and bioactive compounds is projected to aid demand. Health-conscious consumers in India are set to choose these extracts as they have a high level of nutrients.
The food & beverage industry is a prominent consumer of marine extracts in India. Their surging use in multiple applications, such as dietary supplements and functional food, is expected to aid growth. Also, these are set to be considered an ideal alternative to synthetic and chemical-based products, which can push sales.
The table below highlights the global demand for marine extracts by extract type. Based on the extract type, the protein segment is set to showcase a CAGR of 6.3% between 2023 and 2033. It is expected to be followed by the lipid segment.
| Category (Extract Type) | Protein |
|---|---|
| Value-based CAGR (2023 to 2033) | 6.3% |
Based on extract type, the protein segment is projected to reach a valuation of USD 795.2 million in 2033. The given segment is poised to exhibit a CAGR of 6.3% during the assessment period from 2023 to 2033
The protein segment is expected to expand in the global market as it is used for maintaining body tissue and in a healthy diet. Its demand is also set to rise among vegetarians and vegans as an alternative protein source.
Being a sustainable and eco-friendly source of protein, it has become a priority for consumers and manufacturers. Manufacturers looking for a promising solution for a minimal carbon footprint without the need for fertilizers and pesticides are set to drive demand.
Its unique amino acid content is projected to augment its demand as this type of acid is not found in land-based protein sources. Its association with glycine, an amino acid, is anticipated to bolster sales as it is set to help enhance sleep quality and reduce inflammation.
The table below highlights the global demand for marine extracts based on source. By source, the macroalgae segment is set to showcase a CAGR of 4.6% between 2023 and 2033. It is expected to be followed by the microalgae and marine animal segments.
| Category (Source) | Macroalgae |
|---|---|
| Value-based CAGR (2023 to 2033) | 4.6% |
In terms of source, the macroalgae segment is anticipated to thrive at 4.6% CAGR during the projection period. The rising demand for sustainable solutions is expected to boost demand as macroalgae extracts are obtained from seaweeds without damaging the marine environment. Companies looking for a low risk of contamination with pollutants and heavy metals are anticipated to push the demand for this sustainable bioactive compound source.
The health supplement industry will likely demand macroalgae due to its high nutritional content. Their high bioactive substances, polysaccharides, polyphenols, and phlorotannins contents are set to make them relatively low toxic in the industry.
The table below highlights the CAGR of the marine extract market based on application. Based on application, the functional food & beverages segment is set to register a CAGR of 7.9% between 2023 and 2033. It is projected to be followed by pharmaceutical, cosmetics & personal care segments.
| Category (Application) | Functional Food & Beverages |
|---|---|
| Value-based CAGR (2023 to 2033) | 7.9% |
The functional food & beverages segment is projected to register a CAGR of 7.9% from 2023 to 2033. The target segment will likely reach a market value of USD 1091.6 million by the end of 2033.
Marine extracts are expected to be preferable in several functional food & beverage products such as energy drinks, nutritional bars, juices, and dairy products. These are also likely to be used instead of synthetic food additives as they do not have any preservatives and stabilizers, which are unhealthy food ingredients.
Marine extracts in functional food & beverage products are becoming popular due to their unique nutritional properties and associated health benefits. With the growing demand for functional foods & beverages, it is estimated that the use of extract in these products will continue to increase in the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Marine extract manufacturers are continuously introducing new products to fulfill consumers' growing demand. They are also employing several tactics such as mergers, partnerships, collaborations, distribution agreements, and advertising to maintain a competitive position in the market.
Key manufacturers are aiming to expand their product range to cater to multiple segments of the marine extract market. This can include offering extract from different marine sources, such as algae, fish, or seaweed. They are also planning to use it to develop a variety of products, such as supplements, cosmetics, and food additives.
Recent Developments in the Marine Extract Market
| Attribute | Details |
|---|---|
| Estimated Marine Extract Market Size (2023) | USD 6,054.4 million |
| Projected Marine Extract Market Valuation (2033) | USD 10,117.5 million |
| Value-based Marine Extract Market (2023 to 2033) | 5.3% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD million) and Volume (MT) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Extract Type, Source, Application, and Region |
| Key Companies Profiled | Aker BioMarine; Lonza; BioActor BV; Marinova Pty Ltd.; Neptune Wellness Solutions Inc.; Rousselot S.A.S.; CP Kelco; Taiko Group of Companies; Ashland Global Holdings Inc.; FMC Corporation; Seaweed Energy Solutions AS; Extract & Ingredients Ltd.; GlycoMar Ltd.; Biolume Inc.; Aquapharm Bio-Discovery Limited. |
The market to secure a valuation of USD 317.7 million in 2023.
The market is estimated to reach USD 522.5 million by 2033.
Through 2033, the industry is anticipated to expand at a 5.1% CAGR.
The plastic sector is set to achieve a market share of 82.8%.
A 42.4% market share is expected for the 51 to 100 tube sectors.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Plastic 5.1.1. Polyethylene 5.1.2. Polycarbonate 5.1.3. Polyethylene Terephthalate 5.1.4. Polypropylene 5.1.5. Other Plastics 5.2. Paperboard 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 6.1. Storing Up to 50 Tubes 6.2. Storing 51 to 100 Tubes 6.3. Storing 100 to 150 Tubes 6.4. Storing Above 150 Tubes 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. VWR International, LLC 17.2. Cole-Parmer Instrument Company, LLC 17.3. Isolab Laborgerate GmbH 17.4. Bioline Technologies 17.5. MTM Molded Products Company 17.6. Axil Scientific Pte Ltd 17.7. Tarsons 17.8. Biotechnology Co., Ltd. 17.9. Heathrow Scientific 17.10. ZHEJIANG RUNLAB TECHNOLOGY CO., LTD 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Food and Beverage Insights
View Reports
Marine Extract Market
