The global mussel extract market size is expected to reach USD 71.30 Million in 2032. The mussel extract market is growing rapidly.
As per FMI Analysts, the global Mussel extract market is estimated to be valued at USD 41.74 Million in 2022 and is projected to increase at a CAGR of 5.5% in the forecast period from 2022 to 2032.
| Report Attribute | Details |
|---|---|
| Mussel Extract Market Estimated Base Year Value (2021) | USD 39.56 Million |
| Mussel Extract Market Expected Market Value (2022) | USD 41.74 Million |
| Mussel Extract Market Anticipated Forecast Value (2032) | USD 71.30 Million |
| Mussel Extract Market Projected Growth Rate (2022 to 2032) | 5.5% CAGR |
Mussels are revered in different countries, due to health issues such as arthritis and osteoporosis, consumers are becoming health-conscious and moving towards health-beneficial foods like mussel extract, which enables the better function of nerve cells and tissue sensitivity. Mussel extract is used to manufacture various dietary supplements and immunity supplements as well.
There is an increasing demand for mussel extract as it is beneficial in increasing fertility and the immune system functions in consumers, which is why many manufacturers are already using mussel extract in their curtailments due to its increasing health benefits and its popularity among consumers.
Mussel extract is more in demand in the animal feed manufacturing industry in order to improve animal nutrition. There are a lot of opportunities in the mussel extract market, and manufacturers need to plan their systemic investment budget along with payment of GST before shipment to avoid huge custom duty.
To maintain in the market, new players should enter with a price rate challenge, and players should have extensive outsourcing experience so that their mussel extract can be sold at a lower rate but at a similar or better quality to other corresponding manufacturers.
Companies like these are focusing on entering new markets for their products and also expanding their product offerings and portfolios to gain more mussel extract market share.
The APAC market accounted for the lion's share of the market in 2018 and will continue to dominate in the forecast years. This is due to the high product demand for mussel extract, driven by the rising target population in the region. The product is used for the treatment of joint problems and rheumatoid arthritis. The cosmetics industry is expected to grow dramatically, especially in South Korea, due to a rapidly expanding cosmetics and personal care industry.
Nevertheless, Europe is set to experience maximum growth between 2019 and 2025 due to the increasing population and rise in health consciousness. Moreover, France, in particular, is the region's major market for live and frozen mussels.
Accordingly, in April 2014, the European Commission of the Common Fisheries Policy Reform and Strategic Guidelines passed a policy with the aim of promoting the aquaculture business in Europe. This will contribute to the rapid expansion of the aquaculture sector in Nordic and English countries and the growth of the mussel extract market regionally.
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The mussel extract market has received a lot of traction in the industry.
Whether it's seafood or supplements, mussels are popular around the world. With more and more health concerns such as arthritis and bone diseases, consumers are moving towards health benefits from foods such as mussel extract, which has the ability to improve nerve cell function, increase bone and tissue sensitivity, and is included in products such as supplement immunity boosters and nutritional supplements, these factors, in turn, are boosting the mussel extract market growth.
As a result of increased pollution resulting in hazardous work environments and a hectic work-life schedule, and the consumption of tobacco and alcohol, infertility is increasing in both women and men. Mussels also contribute to boosting immunity in consumers, bringing higher demand to the mussel extract market. Due to the health benefits of mussel extract and consumers' demand, there is a growing number of manufacturers using mussel extract in their products.
Higher demand for mussel extract exists in the animal feed industry to enhance the nutritional content of the animal feed. There are a lot of opportunities in the mussel extract market, but the manufacturer should understand the systemic investment budget together with proper planning, for example, purchasing mussels from aquaculture vendors at a cheaper rate and paying GST before shipping to prevent heavy customs duty.
In order to stay relevant in the market, new players need to enter the market with a challenging price rate. Players should have the maximum outsourcing knowledge in order to generate sales of mussel extract as an ingredient to other corresponding manufacturers at a low rate while maintaining that same or better quality than other competitors.
The use of mussel extract has been shown to boost fertility and immune power in consumers, hence, triggering the demand for mussel extract among manufacturers. This has led to the mushroom extract market booming, with many manufacturers already using mussel extract for their products based on consumers' and health benefits.
In 2018, the Asia Pacific held the top market position and was expected to maintain that position throughout the forecast years, owing to the high product demand for mussel extract stemming from the increasing target population in the region. This product is primarily used in treating rheumatoid arthritis and joint-related conditions. Additionally, the global cosmetic market is predicted to benefit from the rapid expansion of the cosmetics and personal care industry, especially in South Korea.
It is expected, however, that Europe will witness the highest growth rate in the mussel extract market from 2019 to 2025 due to an increasing population and increased health consciousness. In addition, Britain is the second-largest producer of live and frozen mussels in this region, while France accounts for the largest imports.
Accordingly, in April 2014, the European Commission of the Common Fisheries Policy Reform and Strategic Guidelines passed a policy with the aim of promoting the aquaculture business in Europe. This will contribute to the rapid expansion of the aquaculture sector in Nordic and English countries and the growth of the mussel extract market regionally.
Some of the leading companies operating in the global mussel extract market include Waitaki Biosciences International Ltd., Maclab, Inc., Nature's Path Foods, Inc., Great HealthWorks Inc., and Navchetana Kendra Agra.
They are also seeking to expand their portfolios and create innovative products to increase the mussel extract market share. The companies are focusing on entering newer markets to increase product sales.
A company named Korure Ltd expanded its market in China in 2018 by providing anti-inflammatory phospholipid extract products to the country. Sanford Health launched a range of nutraceutical products in November of the same year.
Aroma New Zealand uses Flash-drying technology to dehydrate heat-sensitive products such as slurries, bioactive proteins, granules, and powders. It permits high temperatures and ensures the highest quality of the final product. This technology allows the formulation of GlycOmega mussel powder in just 5 minutes with no loss of Omega-3 lipids and bioactive proteins, propelling the growth objectives of the global mussel extract market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | End User, Form, Distribution Channels |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Poland, Australia, New Zealand, China, India, Japan, South Korea, Thailand, Malaysia, Vietnam, Indonesia, GCC Countries, Turkey, South Africa, North Africa |
| Key Companies Profiled | Waitaki Biosciences International Ltd; Maclab, Inc.; Nature's Path Foods, Inc.; Great HealthWorks Inc.; Navchetana Kendra Agra. |
| Customization | Available Upon Request |
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The global mussel extract market is set to exceed USD 71.30 Million in 2032.
The USA is projected to lead the mussel extract market in the forecast period.
Waitaki Biosciences International Ltd., Maclab, Inc., Nature's Path Foods, Inc., Great HealthWorks Inc., and others are some of the renowned companies in the mussel extract market.
| Industry Size in 2024 | USD 3.58 billion |
|---|---|
| Projected Industry Value in 2034 | USD 5.83 billion |
| Value-based CAGR (2024 to 2034) | 5.00% |
| Expected Market Value (2022) | USD 36 Million |
|---|---|
| Anticipated Forecast Value (2032) | USD 47.5 Million |
| Projected CAGR (2022 to 2032) | 3% |
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