Marine Ingredients Market
Marine Ingredients Market Forecasts to 2030 - Global Analysis By Product Type (Fish Meal, Fish Oil, Marine Proteins, Marine Peptides, Marine Collagen, Fish Bone and Other Product Types), Form, Ingredient, Source, End User and by Geography
According to Stratistics MRC, the Global Marine Ingredients Market is accounted for $9.63 billion in 2024 and is expected to reach $15.02 billion by 2030 growing at a CAGR of 7.7% during the forecast period. Marine ingredients are substances that come from marine sources, such as fish, shellfish, and algae. These ingredients are becoming more and more valued for their functional qualities and nutritional benefits. In the food and beverage industry, for example, marine ingredients are prized for their high protein, omega-3 fatty acid content, and essential mineral content, all of which are beneficial to health and well-being. Moreover, in other industries, like cosmetics and pharmaceuticals, marine-derived ingredients are used because of their bioactive compounds and potential therapeutic effects.
According to the Marine Stewardship Council (MSC), sustainable seafood sourcing is crucial for preserving ocean ecosystems and ensuring that marine resources remain available for future generations.
Market Dynamics:
Driver:
Growing interest in functional foods
Marine ingredients are valued for their bioactive properties that contribute to overall well-being. Food manufacturers are encouraged to incorporate marine ingredients into their products, expanding their market presence and consumer base. The market for marine ingredients is driven primarily by the trend toward functional foods, which offer health benefits beyond basic nutrition. Additionally, consumers are increasingly looking for foods that provide additional health advantages, such as enhanced immune support, improved digestion, and better cognitive function.
Restraint:
Elevated production expenses
Due to marine ingredient extraction and processing, which require sophisticated technologies, specialized equipment, and stringent quality control procedures, the process can be costly. Smaller businesses or those with fewer resources may find these expenses prohibitive, which could result in higher consumer prices and decreased market competition. Furthermore, market stability and production costs may also be further impacted by changes in the price of raw materials and interruptions in the supply chain.
Opportunity:
Growing consumer need for eco-friendly and sustainable products
Eco-friendly and sustainably sourced products are becoming more and more popular among consumers. Seafood ingredients that come from ethical and environmentally friendly sources fit in nicely with this trend. Businesses can obtain a competitive advantage by focusing on traceability, sustainable harvesting practices, and low environmental impact. These strategies can also appeal to environmentally conscious consumers. Moreover, certifications from organizations like the Aquaculture Stewardship Council (ASC) and the Marine Stewardship Council (MSC) can draw customers looking for sustainable products and further increase a brand's credibility.
Threat:
Environmental shifts and the effects of climate
The sources of marine ingredients are seriously threatened by environmental and climatic changes. The quantity and quality of marine resources such as fish and algae can be impacted by rising ocean temperatures, acidification, and habitat degradation. Reduced yields, changed nutrient profiles, and heightened susceptibility of marine species to illnesses and pollutants are all possible outcomes of these changes. Additionally, the consequent volatility in the supply of raw materials has the potential to impair market stability, raise costs, and interrupt production processes.
Covid-19 Impact:
The market for marine ingredients was significantly impacted by the COVID-19 pandemic, which also changed consumer behaviour and disrupted supply chains. Lockdowns and other restrictions resulted in the temporary closure of processing facilities and delays in the raw material transportation process, which raised prices and caused shortages in supply. The demand for non-essential products, including some applications involving marine ingredients, was impacted by the state of the economy and the shifting priorities of consumers towards essential goods. However, increased demand for dietary supplements and increased health consciousness have raised interest in nutrients derived from marine sources, like omega-3 fatty acids.
The Fish segment is expected to be the largest during the forecast period
The fish segment holds the largest share of the market for marine ingredients. This section contains fishmeal and fish oil, which are essential because of their high protein and omega-3 fatty acid content in aquaculture and animal feed. Fish oil is highly valued for its nutritional properties and uses in products for human and animal health, while fishmeal—which is obtained from processing fish like anchovies, sardines, and herring—is extensively utilized in animal feed. Moreover, the fish industry's size, well-established infrastructure, and important role in the world's food systems all help to explain why it leads the marine ingredients industry.
The Sports Nutrition & Dietary Supplement segment is expected to have the highest CAGR during the forecast period
In the marine ingredients market, the sports nutrition and dietary supplements segment is expected to have the highest CAGR. This market benefits from growing consumer awareness of fitness and health, which drives up demand for omega-3 fatty acid-rich supplements like fish oil. These supplements are well known for their advantages in promoting general wellbeing, heart health, and cognitive function. Additionally, the rise in popularity of fitness, the increased focus on preventive healthcare, and the rising use of nutrients derived from marine sources in a variety of food items are the main factors driving this growth.
Region with largest share:
Due to a strong food processing sector and a high concentration of food service chains, the North American region commands the largest share of the marine ingredients market. Rising consumer demand for marine-based products across various industries, including cosmetics, pharmaceuticals, and food and drink, has led to this dominance. Moreover, the area has made large investments in sustainable practices and aquaculture, which has improved its market position and elevated it to a prominent position in the world market for marine ingredients.
Region with highest CAGR:
The marine ingredients market is expected to grow at the highest CAGR in the Latin America region. The region's growing aquaculture sector is the main driver of this expansion, especially in nations like Chile and Peru that produce a lot of fishmeal and fish oil. The abundance of marine resources and ideal climate for fish farming in Latin America have led to a rise in the production and consumption of marine ingredients. Furthermore, the rapid expansion of this market segment in the region is also being fueled by rising investments in aquaculture infrastructure and growing consumer awareness of the nutritional benefits of marine-based products.
Key players in the market
Some of the key players in Marine Ingredients market include Cargill, Incorporated, Gelita AG, Bio-marine Ingredients Ireland Ltd., Symrise AG, A. Costantino & C. S.P.A., KD Pharma Group, Copalis, Scanbio Marine Group AS, TripleNine Group A/S, American Seafoods Company LLC, Hofseth BioCare ASA, Alaska Protein Recovery LLC, Sopropeche, Bio-Oregon and Titan Biotech.
Key Developments:
In May 2024, Titan International, Inc., a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported that its board of directors plans to discuss with its largest shareholder, American Industrial Partners (""AIP""), a possible amendment of the parties' Stockholder Agreement to allow AIP to increase its ownership of TWI common stock in open market purchases.
In March 2024, Symrise AG announces an agreement to form a joint venture with Virchow Group. The group of pharmaceutical companies based in India will manufacture personal care ingredients from the Symrise portfolio through the joint venture. The new company operates under the name Vizag Care Ingredients Private Limited.
In June 2023, Singapore-based Cargill Metals has entered into a multiyear agreement with Sweden-based industrial startup H2 Green Steel for the supply of green steel. The companies say the agreement aims to accelerate global ferrous supply chain decarbonisation.
Product Types Covered:
• Fish Meal
• Fish Oil
• Marine Proteins
• Marine Peptides
• Marine Collagen
• Fish Bone
• Other Product Types
Forms Covered:
• Powder
• Liquid
Ingredients Covered:
• Protein
• Ash
• Fatty Acids
• Vitamins
• Fat
• Enzymes
Sources Covered:
• Krill
• Algae
• Fish
• Squid
• Other Sources
End Users Covered:
• Food & Beverage
• Sports Nutrition & Dietary Supplement
• Aquaculture Feed
• Poultry Feed
• Animal Feed
• Infant Formula
• Pharmaceuticals
• Cosmetics & Personal Care
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Marine Ingredients Market, By Product Type
5.1 Introduction
5.2 Fish Meal
5.3 Fish Oil
5.4 Marine Proteins
5.5 Marine Peptides
5.6 Marine Collagen
5.7 Fish Bone
5.8 Other Product Types
6 Global Marine Ingredients Market, By Form
6.1 Introduction
6.2 Powder
6.3 Liquid
7 Global Marine Ingredients Market, By Ingredient
7.1 Introduction
7.2 Protein
7.3 Ash
7.4 Fatty Acids
7.5 Vitamins
7.6 Fat
7.7 Enzymes
8 Global Marine Ingredients Market, By Source
8.1 Introduction
8.2 Krill
8.3 Algae
8.4 Fish
8.5 Squid
8.6 Other Sources
9 Global Marine Ingredients Market, By End User
9.1 Introduction
9.2 Food & Beverage
9.3 Sports Nutrition & Dietary Supplement
9.4 Aquaculture Feed
9.5 Poultry Feed
9.6 Animal Feed
9.7 Infant Formula
9.8 Pharmaceuticals
9.9 Cosmetics & Personal Care
9.10 Other End Users
10 Global Marine Ingredients Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Cargill, Incorporated
12.2 Gelita AG
12.3 Bio-marine Ingredients Ireland Ltd.
12.4 Symrise AG
12.5 A. Costantino & C. S.P.A.
12.6 KD Pharma Group
12.7 Copalis
12.8 Scanbio Marine Group AS
12.9 TripleNine Group A/S
12.10 American Seafoods Company LLC
12.11 Hofseth BioCare ASA
12.12 Alaska Protein Recovery LLC
12.13 Sopropeche
12.14 Bio-Oregon
12.15 Titan Biotech
List of Tables
1 Global Marine Ingredients Market Outlook, By Region (2022-2030) ($MN)
2 Global Marine Ingredients Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Marine Ingredients Market Outlook, By Fish Meal (2022-2030) ($MN)
4 Global Marine Ingredients Market Outlook, By Fish Oil (2022-2030) ($MN)
5 Global Marine Ingredients Market Outlook, By Marine Proteins (2022-2030) ($MN)
6 Global Marine Ingredients Market Outlook, By Marine Peptides (2022-2030) ($MN)
7 Global Marine Ingredients Market Outlook, By Marine Collagen (2022-2030) ($MN)
8 Global Marine Ingredients Market Outlook, By Fish Bone (2022-2030) ($MN)
9 Global Marine Ingredients Market Outlook, By Other Product Types (2022-2030) ($MN)
10 Global Marine Ingredients Market Outlook, By Form (2022-2030) ($MN)
11 Global Marine Ingredients Market Outlook, By Powder (2022-2030) ($MN)
12 Global Marine Ingredients Market Outlook, By Liquid (2022-2030) ($MN)
13 Global Marine Ingredients Market Outlook, By Ingredient (2022-2030) ($MN)
14 Global Marine Ingredients Market Outlook, By Protein (2022-2030) ($MN)
15 Global Marine Ingredients Market Outlook, By Ash (2022-2030) ($MN)
16 Global Marine Ingredients Market Outlook, By Fatty Acids (2022-2030) ($MN)
17 Global Marine Ingredients Market Outlook, By Vitamins (2022-2030) ($MN)
18 Global Marine Ingredients Market Outlook, By Fat (2022-2030) ($MN)
19 Global Marine Ingredients Market Outlook, By Enzymes (2022-2030) ($MN)
20 Global Marine Ingredients Market Outlook, By Source (2022-2030) ($MN)
21 Global Marine Ingredients Market Outlook, By Krill (2022-2030) ($MN)
22 Global Marine Ingredients Market Outlook, By Algae (2022-2030) ($MN)
23 Global Marine Ingredients Market Outlook, By Fish (2022-2030) ($MN)
24 Global Marine Ingredients Market Outlook, By Squid (2022-2030) ($MN)
25 Global Marine Ingredients Market Outlook, By Other Sources (2022-2030) ($MN)
26 Global Marine Ingredients Market Outlook, By End User (2022-2030) ($MN)
27 Global Marine Ingredients Market Outlook, By Food & Beverage (2022-2030) ($MN)
28 Global Marine Ingredients Market Outlook, By Sports Nutrition & Dietary Supplement (2022-2030) ($MN)
29 Global Marine Ingredients Market Outlook, By Aquaculture Feed (2022-2030) ($MN)
30 Global Marine Ingredients Market Outlook, By Poultry Feed (2022-2030) ($MN)
31 Global Marine Ingredients Market Outlook, By Animal Feed (2022-2030) ($MN)
32 Global Marine Ingredients Market Outlook, By Infant Formula (2022-2030) ($MN)
33 Global Marine Ingredients Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
34 Global Marine Ingredients Market Outlook, By Cosmetics & Personal Care (2022-2030) ($MN)
35 Global Marine Ingredients Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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