Marine Ingredients Market

Marine Ingredients Market was valued at USD 7,152 Million in 2019 and projected to grow at 5.7% CAGR during the forecast period.

Marine ingredients are healthy products mainly used for human consumption and animal feed. The marine ingredients are extracted from various types of sea living organisms, such as algae, krill, fish, and shellfish. These ingredients are considered as a good source of nutrition and vitamins. Sustainability is an integral part of the harvesting process of any form of the marine to guarantee the continued maintenance and growth of the inhabitants of the oceans. The marine ingredients are widely used by numerous end-users such as poultry feed, food supplements, cosmetic & personal care, pharmaceuticals, and other users.

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Growing demand for unique protein-based products, followed by the fundamental shift in the consumer’s preference is the significant factor driving the growth of the global marine ingredients market. The rising consumer awareness regarding the health benefits offered by different marine ingredients is encouraging the target consumers to opt for these ingredients and attracting new customer base in the market at the same time. Additionally, the strong demand for natural ingredients in fortified food & beverages and cosmetic & personal care products will further energize the growth of the market in the coming years. The increasing penetration of the internet is leading to an inclination of consumers towards highly rich nutrition products. In parallel, the high usage of marine ingredients in various industries and the significant shift in the consumer’s demand towards the consumption of fish oil and healthy food products will complement the surging demand of the market. On the other end of the spectrum, the fluctuations in the prices of raw materials is likely to hamper the marine ingredients market growth during the forecast period.

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Based on the product type, the Fish oil and fish meal segments are projected to grow at a higher CAGR during the forecast period. Fish oil is one of the most commonly used marine ingredients as compared to other marine products. Fish oil is considered as a natural functional feed as it contains high omega-3 content and provides health & welfare benefits to livestock. The growing nutritional demand of aqua spices and other types of aquatic animals is the key driver boosting the demand of the fish meal segment. The fish meal is a brown powder that is obtained after cooking, pressing drying, and milling fresh raw fish. It is also used in aquaculture feed as well as pet food.

Based on the form, the powder form is predicted to grow at a higher CAGR during the forecast period owing to the strong demand for marine ingredients in powder form and its high usage in aquaculture and animal feed. The fish meal is also available in powder form, which will further boost the segment’s growth.

On the basis of the ingredient, the ash segment is anticipated to dominate the market over the forecast period attributed to the growing demand for nutrition-rich products among the end-users. The ash ingredient is a crucial marine ingredient in the animal feed industry as it is effective in feed intake and cures gut health issues.

Based on the end use, the pharmaceutical segment is projected to lead the market during the forecast period. The marine ingredients are a good source of anti-microbial, anti-tumor, and anti-inflammatory agents, thus promoting the use of these ingredients in the pharmaceutical sector. Furthermore, collagen is used in the formulation of the capsule, which will further drive the demand of the segment over the forecast period.

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Based on the region, the North America and Europe region is predicted to grow at a higher CAGR during the forecast period owing to the presence of the various food processing companies and food restaurants chains and the strong demand for healthy food products among consumers. On the other hand, the asia-pacific region is also projected to grow at a higher CAGR during the forecast period due to the increasing demand for various types of marine-based cosmetic and food products among the population in this region.

Various notable players operating in the market, include Cargill Inc., Bio-marine Ingredients Ireland Ltd., Sopropeche S.A, Hofseth BioCare ASA, TripleNine Group A/S, SA Copalis, Symrise AG, Scanbio SA, Bio-Oregon Protein, Inc., Gelita AG, and KD Pharma Group among others.

Key Developments:

• • In 2019, Symrise AG completed the acquisition of ADF/IDF to expand its portfolio by using high-quality natural ingredients to meet consumer needs.
  • In 2019, TripleNine Group A/S collaborated with Aller Aqua to identify components of marine raw materials that may provide benefits to fish growth and health.
  • In 2019, KD Pharma Group acquired the manufacturing site in Seal Sands, United Kingdom, to expand its pharma capacity for producing active pharmaceutical ingredients along with the highest concentrations of EPA and DHA omega-3s.

The global marine ingredients market has been segmented on the basis of product type, form, End Use, ingredient and region. Based on product type, the market is segmented into fish oil, fish meal and others. Based on form, the market is segmented into powder and liquid. Based on End Use, the market is segmented into poultry feed, aquaculture, animal food, food & beverages, sports nutrition & dietary supplements, pharmaceuticals, cosmetics & personal care and others. Based on ingredient, the market is segmented into protein, ash, fatty acids and others.

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Key questions answered in this research report:

• • At what pace is global marine ingredients market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global marine ingredients market?
  • Which Product Type generated maximum revenues in 2019 and identify the most promising Product Type during the forecast period?
  • What are the various Forms of global Marine Ingredients market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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

• • North America Marine Ingredients Market (Option 1: As a part of the free 25% customization)

• • • North America Marine Ingredients Market by Product Type
    • North America Marine Ingredients Market by Form
    • North America Marine Ingredients Market by End Use
    • North America Marine Ingredients Market by Ingredient
    • US Marine Ingredients Market All-Up
    • Canada Marine Ingredients Market All-Up

• • Europe Marine Ingredients Market (Option 2: As a part of the free 25% customization)

• • • Europe Marine Ingredients Market by Product Type
    • Europe Marine Ingredients Market by Form
    • Europe Marine Ingredients Market by End Use
    • Europe Marine Ingredients Market by Ingredient
    • UK Marine Ingredients Market All-Up
    • Germany All-Up Marine Ingredients Market All-Up
    • France Marine Ingredients Market All-Up
    • Spain Marine Ingredients Market All-Up
    • Rest of Europe Marine Ingredients Market All-Up

• • Asia-Pacific Marine Ingredients Market (Option 3: As a part of the free 25% customization)

• • • Asia-Pacific Marine Ingredients Market by Product Type
    • Asia-Pacific Marine Ingredients Market by Form
    • Asia-Pacific Marine Ingredients Market by End Use
    • Asia-Pacific Marine Ingredients Market by Ingredient
    • China Marine Ingredients Market All-Up
    • India Marine Ingredients Market All-Up
    • Japan Marine Ingredients Market All-Up
    • Rest of APAC Marine Ingredients Market All-Up

• • RoW Marine Ingredients Market (Option 4: As a part of the free 25% customization)

• • • RoW Marine Ingredients Market by Product Type
    • RoW Marine Ingredients Market by Form
    • RoW Marine Ingredients Market by End Use
    • RoW Marine Ingredients Market by Ingredient
    • Brazil Marine Ingredients Market All-Up
    • South Africa Marine Ingredients Market All-Up
    • Saudi Arabia Marine Ingredients Market All-Up
    • UAE Marine Ingredients Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Marine Ingredients Market All-Up

Major Players Operating the Marine Ingredients (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cargill Inc.
  • Bio-marine Ingredients Ireland Ltd.
  • Sopropeche S.A
  • Hofseth BioCare ASA
  • TripleNine Group A/S
  • SA Copalis
  • Symrise AG
  • Scanbio SA
  • Bio-Oregon Protein, Inc.
  • Gelita AG
  • KD Pharma Group