Marine Functional Ingredients Market at a CAGR of 8.6% during the forecast period (2024-2030) – Exactitude Consultancy

North accounted for the largest market in the Marine Functional Ingredients market. North america accounted for the 40 % market share across the globe

Luton, Bedfordshire, United Kingdom, July 02, 2024 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Marine Functional Ingredients Market.

The global marine functional ingredients market is anticipated to grow from USD 4,160 Million in 2023 to USD 7,410 Million by 2030, at a CAGR of 8.6% during the forecast period.

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The Marine Functional Ingredients Market report consolidates extensive information about the market across various industries. This report provides both quantitative and qualitative analyses, covering the forecast period from 2024 to 2030. It considers multiple factors, including product pricing, market penetration at both national and regional levels, country GDP, market dynamics of parent and child markets, end-use industries, major players, consumer behavior, and economic, political, and social conditions of different countries. The report is segmented to deliver a comprehensive analysis from every possible perspective of the market.

This report provides a comprehensive analysis and estimates for the Marine Functional Ingredients Market, covering past, present, and future trends. The market estimates are derived using an exhaustive research methodology that incorporates primary research, secondary research, and expert advice. These estimates take into account current market dynamics and the impact of various economic, social, and political factors on the market. Additionally, the report considers regulations, government spending, and research and development growth in defining market data. Both positive and negative market changes are included in the estimates.

Competitive Landscape:

The competitive landscape in the marine functional ingredients market was characterized by a mix of established companies and newer players. Keep in mind that the competitive landscape may have evolved since then. Cooke Inc., KD Pharma Group, GC Rieber Oils, Neptune Wellness Solutions, Croda International PLC, Arctic Nutrition, Aker BioMarine, Biomega AS, EPAX AS, Enzymotec (now part of Frutarom), Golden Omega, Rimfrost, Marine Ingredients (a division of KD Pharma Group), Pharma Marine AS, SeaDragon, New Zealand Green Lipped Mussel Co., PRONOVA BioPharma, Polaris, Nissui Pharmaceutical Co., Ltd., Oceana Group.

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Recent Developments

In 2017, FMC acquired a significant portion of DuPont’s Crop Protection business and established FMC Health and Nutrition. FMC Health and Nutrition offers marine-derived functional ingredients for the food, beverage, and nutraceutical markets, including carrageenan, alginates, and omega-3 fatty acids.

CP Kelco is a global producer of specialty hydrocolloids, including carrageenan, pectin, and alginate, derived from renewable natural raw materials such as seaweed. While specific recent developments may vary, CP Kelco has been focused on expanding its product portfolio and optimizing production processes to meet the growing demand for sustainable and natural ingredients in various industries.

Report Scope:

ATTRIBUTE DETAILS
Study period 2020-2030
Base year 2023
Estimated year 2024
Forecasted year 2024-2030
Historical period 2019-2023
Unit Value (USD Million) (Kilotons)
Segmentation By Product Type, Application, Form, Ingredient Type and Region
By Product Type Fish Meal
Fish Oil
Other
By Application Animal Feed
    Food & Beverages
Pharmaceuticals
    Cosmetics
Personal Care
Other
By Form Powder
Liquid
By Ingredient Type Protein
Fatty
Acid
By Region North America
Asia Pacific
Europe
South America
Middle East Asia & Africa

Marine Functional Ingredients Market Trends

Marine collagen and other marine-derived compounds are becoming popular ingredients in the beauty and skincare industry. These ingredients are promoted for their potential to improve skin health, reduce signs of aging, and promote overall skin radiance.

Consumers are increasingly seeking products with clean labels and transparent sourcing. Brands that can demonstrate the purity and quality of their marine functional ingredients are likely to gain consumer trust and loyalty.

Continued scientific research into the health benefits of marine ingredients is expected to result in more substantiated health claims. This research helps build consumer confidence and drives market growth.

The concept of personalized nutrition is influencing the marine functional ingredients market. Companies are developing products that cater to individual health and dietary needs, providing customized solutions.

The market for marine functional ingredients is expanding beyond traditional markets. As awareness of their health benefits grows, these ingredients are gaining popularity in regions that were previously less familiar with their advantages.

On the basis of geography

North accounted for the largest market in the Marine Functional Ingredients market. North america accounted for the 40 % market share across the globe.  The Asia-Pacific region has practiced substantial economic growth over the past few decades. Countries like China and India, in particular, have seen significant increases in income levels and urbanization.

In addition, to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

  • North America (USA and Canada)
  • Europe (UK, Germany, France and the rest of Europe)
  • Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
  • Latin America (Brazil, Mexico, and the rest of Latin America)
  • Middle East and Africa (GCC and rest of the Middle East and Africa)

We have also focused on technological lead, profitability, company size, company valuation in relation to the industry and analysis of products and applications in relation to market growth and market share.

We Offer Customization on Report Based on Specific Client Requirement:
– Free Country Level analysis for any +5 countries of your choice.
– Free Competitive analysis of any +5 key market players.
– Free +40 analyst hours to cover any other data point.

About Exactitude Consultancy

Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

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