Global mussel oils demand is anticipated to be valued at USD 36 Million in 2022, forecast to grow at a CAGR of 3% to be valued at USD 47.5 Million from 2022 to 2032. Growth is attributed to increased demand for mussel oils in a dietary supplement.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 33 Million |
| Expected Market Value (2022) | USD 36 Million |
| Anticipated Forecast Value (2032) | USD 47.5 Million |
| Projected Growth Rate (2022 to 2032) | 3% CAGR |
Mussel oil is derived from the green-lipped mussel, a bivalve mollusk, from the coast of New Zealand. Green-lipped mussel oil is native to the pristine seawaters of the coastline of New Zealand and is used in various treatments such as asthma and other respiratory problems, rheumatoid arthritis, osteoarthritis, and inflammatory bowel disease such as Crohn’s disease.
Mussel oil derived from the green-lipped mussel has been identified as a source of 25 different fatty acids, of which the omega-3 fatty acids comprise a significant composition. Thus, mussel oil has many health benefits and is widely used in dietary supplements and the cosmetics industry.
The USA is considered to be a highly lucrative market for mussel oils and its different products, driven primarily by its utilization across the cosmetics industries. Mussel oil is a rich source of omega-3 fatty acids which makes them suitable for application in dietary supplements.
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The anti-inflammatory properties conveyed by the bioactive compounds present in the mussel oils have high demand in biopharmaceuticals. Mussel oil derived from green-lipped mussels contains a high amount of eicosatetraenoic acid since green-lipped mussel is the only known source of ETAs, which help prevent inflammation at a cellular level.
Increasing awareness about a healthy lifestyle and increased demand for dietary supplements drive the growth of the market. Oil extracted from green-lipped mussels found in the coastal line of New Zealand stimulates bone health and eliminates deficiencies as it is a rich source of protein, omega-3 fatty acids, selenium, iron, vitamin B12, iodine, magnesium, and calcium. Also, mussel oil helps in the treatment of asthma and other respiratory problems, rheumatoid arthritis osteoarthritis, and other inflammatory bowel diseases.
The Biopharmaceutical industry is expected to accrue significant benefits to the global mussel oils market as technological developments, cost-effective techniques are being developed to produce a supreme quality product with an improved long shelf-life of the mussel oil. Mussel oil can reduce the risk of heart disease thus used on large scale in pharmaceutics.
Although the mussel oils market has numerous end-user, there are numerous obstacles likely to pose a challenge to market growth. With increasing health awareness among the population consumers shifting toward a vegan lifestyle acts as a driver for the mussel oils market growth as it is animal-origin oil.
Lack of consumer awareness and lack of improved distribution channels may hinder the growth of the mussel oils market in forecasting years. The mussels count in oceans is affected by global warming, pollution, and exploitation by human activity this also hampers the growth of the market in forecasting years. Growing instances of allergies caused by seafood consumption are expected to slow down the mussel oils market growth.
The Asia Pacific was the largest market for mussel oils and the trend is expected to continue into the forecast period owing to high product demand in this region. The region is forecast to surge at a 3.3% CAGR from 2022 to 2032. China holds the largest share of mussel oil in the Asia Pacific region.
Increasing pet population and increasing mussel oils demand in pet food. Also, the rapidly increasing cosmetics industry provides a lucrative opportunity for the mussel oils market in the region.
According to Future Market Insights, Europe is expected to provide immense growth opportunities for mussel oils, with France expected to steer the bulk of all regional growth.
Extensive applications in dietary supplements are keeping sales of mussel oils afloat across France. Moreover, the pet food industry in these countries is also experiencing a major upsurge, which will generate favorable conditions for market growth.
Some of the key participants present in the global mussel oils market include Waitaki Biosciences, Maclab, Aroma New Zealand Limited, Nature’s Range, Great Healthworks, and Blackmores Limited among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Waitaki Biosciences, Maclab, and Aroma New Zealand Limited account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3% from 2022 to 2032 |
| Market Value in 2022 | USD 36 Million |
| Market Value in 2032 | USD 47.5 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, 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 Use, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Waitaki Biosciences; Maclab; Aroma New Zealand Limited; Nature’s Range; Great Healthworks; Blackmores Limited; Bio-Mer Limited; ByLovely Health Ltd.; Henry Blooms Health Products; Nature’s Range |
| Customization | Available Upon Request |
FMI projects the global mussel oils market to expand at a 3% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic mussel oils market, expanding at a 3.3% CAGR
Waitaki Biosciences, Maclab, Aroma New Zealand Limited, Nature’s Range, Great Healthworks, and Blackmores Limited are some prominent mussel oil manufacturers
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Mussel Oils Market
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