Marine Functional Ingredients Market to Exceed US$ 7,446.5 Million Valuation by 2033 | Fact.MR
Powdered Marine Functional Ingredients Have Surged in Popularity and Occupy the Leading Position.
Rockville, Oct. 03, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, the worldwide Marine Functional Ingredients Market is valued at US$ 4,080.7 million in 2023 and it is anticipated to reach US$ 7,446.5 million by 2033. Over the next decade, global Marine functional ingredients demand is likely to increase at a CAGR of 6.2%.
Usually used in human and animal feed, marine ingredients are thought to produce healthy goods. Fish, shellfish, krill, and algae are just a few of the different types of marine life that make up the marine ingredients. Typically used in human and animal feed, marine ingredients are thought to produce healthy goods. Fish, shellfish, krill, algae, and other types of sea life make up the marine ingredients. These ingredients are known for being a good source of nutrition and vitamins.
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Key Segments of Marine Functional Ingredients Industry Research Report
| By Product Type | By Application | By Form | By Ingredient Type |
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It is also anticipated that rising consumer preference for organic goods over conventional ones will fuel the market for marine ingredients. The increase in demand from the food, beverage, and cosmetic industries is also anticipated to restrain market growth for marine ingredients.
On the other hand, variations in raw material availability over time are predicted to impede the market expansion for marine ingredients. Additionally, over the coming few years, there may be more opportunities for the market for marine ingredients to grow as a result of the cosmetic industry’s expanding demand.
But soon, consumer demand and the strictness of the laws might make it even more difficult for the market for marine ingredients to grow.
Key Takeaways from the Marine Functional Ingredients Report:
- The global Marine functional ingredients market is expected to reach a valuation of US$ 7,446.53 million by 2033.
- Increasing consumer demand for natural and sustainable marine-derived ingredients is driving the growth of the marine functional ingredient market.
- Growing awareness about the health benefits of marine functional ingredients, such as omega-3 fatty acids and collagen, is fueling the expansion of the marine functional ingredient market.
- Japan is projected to hold a dominant value share of 10.3% in the global market by 2033.
- The United States Marine functional ingredients market is projected to reach a valuation of US$ 2435.0 million by 2033.
- India Marine functional ingredients market is projected to reach a valuation of US$ 960.6 million by 2033.
“Marine functional ingredient market has been experiencing significant growth and attention in recent years. Marine functional ingredients are derived from various marine sources such as algae, fish, and shellfish, and they offer a wide range of health benefits and applications.” – says a lead analyst at Fact.MR
Who is Winning?
The Kraft Heinz Company Symrise, Scanbio Marine Group, Hofseth BioCare, Cargill, Incorporated, Copalis, Bio-marine Ingredients Ireland Ltd., Sopropeche, Alaska Protein Recovery, BioOregon Protein, KD Nutra are key Marine functional ingredients manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- 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 Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 7,446.5 Million |
| Growth Rate (2023-2033) | 6.2% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 80 Tables |
| No. of Figures | 240 Figures |
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Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the global Marine functional ingredients market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the Marine functional ingredients market based on product type (Fish Meal, Fish Oil, Other), by Form (Powder, Liquid), Ingredient (Protein, Fatty, Acid), End Use Application (Animal Feed, Food & Beverages, Pharmaceuticals, Cosmetics, Personal Care across various regions.
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Marine Hyaluronic Ingredients Market: Expanding at a CAGR of 7.0%, the global marine hyaluronic ingredients market is projected to increase from a valuation of US$ 1,795.8 million in 2023 to US$ 3,533.7 million by 2033.
Marine Oil Market: The global marine oil market is estimated at USD 1,933.9 Million in 2022 and is forecast to surpass USD 2,802.3 Million by 2032, growing at a CAGR of 3.8% from 2022 to 2032.
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