Marine Ingredients Market Share, Size & Industry Report, 2027
Marine Ingredients Market
The Marine Ingredients Market was estimated around USD 7,152 million in 2019 and is expected to grow at CAGR of 5.7% over the forecast period (2020-2027).
The factors driving the growth of Marine Ingredients Market includes rising awareness amongst consumers about the health benefits of marine ingredients, increasing use of natural ingredients in the fortified food and beverages and growing demand for nutrition rich products around the world. According to the report published by Bloomberg, the Vitamin Fortified and Mineral Enriched Food and Beverage Market in the Latin American region was estimated around USD 7.55 billion in 2018 and is predicted to reach USD 10.9 billion by the end of 2023, which will boost the Marine Ingredients Market Growth in the approaching years. Moreover, the increasing availability of marine ingredients-based supplements at the e-commerce platforms, growing acceptance towards organic products and rising application of marine ingredients in the cosmetic industry, are some of the additional factors supplementing the market growth. In addition, rapid growth in the Aquaculture industry, rising disposable incomes, improvements in the living standards and increasing investments by major corporations on research and development and increasing population growth rates, are further contributing to the market growth.
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However, the growth of Marine Ingredients Market is hindered due to variations in the prices of raw materials.
The major players operating in the market are Hofseth BioCare ASA, TripleNine Group A/S, SA Copalis, Symrise AG, Cargill Inc., Bio-marine Ingredients Ireland Ltd., Sopropeche S.A, Bio-Oregon Protein, Inc., Gelita AG, Scanbio SA, and KD Pharma Group among others.
Product Type: Segment Analysis
Based on Product Type, the Fish Oil segment is expected to grow at a significant CAGR over the forecast period because the fish oils are rich in Omega-3 fatty acids, improves the cholesterol levels and are beneficial for the patients with high blood pressure problems.
Form: Segment Analysis
As per the Marine Ingredients Market Analysis, the Powder segment is estimated to expand at a remarkable CAGR over the forecast period attributed to the increasing use of marine ingredients in the Aquaculture industry.
End Use: Segment Analysis
Based on End Use, the pharmaceuticals segment is expected to capture the largest market share during the forecast period because the marine ingredients are increasingly used in the formulation of tablets and capsules.
Market Segmentation
Global Marine Ingredients Market by Product Type
Fish Oil
Fish Meal
Others
Global Marine Ingredients Market by Form
Powder
Liquid
Global Marine Ingredients Market by End Use
Poultry Feed
Aquaculture
Animal Food
Food & Beverages
Sports Nutrition & Dietary Supplements
Pharmaceuticals
Cosmetics & Personal Care
Others
Global Marine Ingredients Market by Ingredient
Protein
Ash
Fatty Acids
Others
Global Marine Ingredients Market by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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