Rising Awareness of Sustainable Living and Healthy Dietary Choices Propel Marine-derived Protein Market at 6.3% CAGR Through 2033 | Future Market Insights, Inc.
NEWARK, Del, Nov. 13, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global marine-derived protein market is estimated to reach a valuation of US$ 7,634.9 million in 2023. By 2033, global marine-derived protein demand is expected to rise at a 6.3% CAGR. The total market value is projected to reach around US$ 20,190.0 million by 2033.
The appeal of marine-derived proteins lies not only in their nutritional richness but also in their versatility. They are finding applications in a wide array of sectors, including functional foods, sports nutrition, pharmaceuticals, and cosmetics. Their neutral taste, high protein content, and beneficial fats make them a preferred choice for food manufacturers, enabling the development of innovative products catering to diverse consumer preferences.
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The market's growth is bolstered by increasing awareness about sustainable and eco-friendly protein sources. As the world embraces environmentally conscious practices, the marine-derived protein market aligns perfectly with these values. Collaborations between food manufacturers, researchers, and marine industries are driving innovations, ensuring the sustainable sourcing and processing of these proteins.
In this dynamic landscape, the marine-derived protein market stands as a beacon of health and sustainability, catering to the evolving needs of modern consumers and industries. As research continues to unlock the full potential of these proteins, their market presence is poised to expand further, shaping the future of nutritional offerings and sustainable practices.
Key Takeaways from the Marine-derived Protein Market Report:
- The marine-derived protein market is expected to be valued at US$ 7,634.9 million by 2023.
- Global demand for marine-derived protein will likely soar at a 6.3% CAGR over the forecast period.
- The marine-derived protein market in the United States is poised to exhibit a CAGR of 8.5%, reaching US$ 7,470.3 million during the forecast period.
- China’s fast urbanization and increased disposable income have resulted in the market expanding at 8.2% to reach US$ 5,410.9 million in 2033.
- Based on end-users, the food and beverage industry is expected to hold a market share of 31.0% to reach US$ 6,258.9 million by 2033.
“The marine-derived protein market thrives on consumers' health awareness, seeking natural protein sources. Sustainable practices, diverse applications, and collaborative efforts contribute to its exponential growth." - Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape:
Key companies are expanding their product portfolios, employing strategies such as advertising, partnerships, acquisitions, agreements, and mergers to maintain market relevance and drive growth in the marine-derived protein market.
Key Companies Profiled:
- Omega Protein Corporation
- Aroma NZ Ltd.
- Hofseth BioCare ASA
- GC Rieber Oils
- Scanbio Marine Group
- Golden Omega
- Marine Ingredients
- Sea Run Holdings Inc.
- Arctic Nutrition AS
- CP Kelco
- Other Players
For instance,
- In 2022, Pioneer Points Partners and Verdane acquired Scanbio Marine Group with the goal of creating one of Europe's leading aquaculture waste management companies.
- In 2022, Cooke Inc., a seafood corporation, acquired Omega Protein Corporation, a Houston-based company, to aid with the company's expanding supply side business and to support its growth strategy as a leader in seafood production.
- In 2020, BlueNalu, a California-based seafood product manufacturer, announced its collaboration with Nutreco, an aquafeed manufacturer. This collaboration is expected to assist BlueNalu in strengthening its position in the seafood manufacturing business.
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Marine-derived Protein Market Segmentation by Category:
By Source:
- Fish-derived Proteins
- Algae-derived Proteins
- Shellfish-derived Proteins
- Marine Invertebrate Proteins
By End-user:
- Food and Beverage Industry
- Pharmaceutical Industry
- Cosmetics and Skincare Industry
By Extraction Technique:
- Enzymatic Hydrolysis
- Supercritical Fluid Extraction
- High-Pressure Processing (HPP)
- Ultrasound-assisted Extraction
- Microwave-assisted Extraction
By Type:
- Concentrates
- Isolates
- Hydrolysates
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East & Africa
Get More Valuable Insights into Marine-derived Protein Market Report:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global marine-derived protein 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-derived protein market based on source (fish-derived proteins, algae-derived proteins, shellfish-derived proteins, and marine invertebrate proteins) type (concentrates, isolates, and hydrolysates) extraction technique (enzymatic hydrolysis, supercritical fluid extraction, high-pressure processing (HPP), ultrasound-assisted extraction and microwave-assisted extraction), and end-user (food and beverage industry, pharmaceutical industry and cosmetics and skincare industry) across various regions.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:
- Fish Roe Enzymes and Extracts Market: This is estimated to grow from US$ 495.0 million in 2023 to US$ 1,038.45 million in 2033. global sales are projected to expand at a rate of 7.7% CAGR over the following ten years (2023 to 2033).
- Fish Protein Concentrate Market: Is to gain US$ 240.3 million in 2033, up from an estimated US$ 122.5 million in 2023.
- Fish Protein Market: Value is estimated to be worth US$ 1 billion in 2023 and is expected to double in value, reaching US$ 2 billion by 2033. Projected to achieve a compound annual growth rate (CAGR) of 7.2% during the forecast period
- Fish Protein Isolate Market: The global fish protein isolate market slated to surpass US$ 565 Million in 2020 Future Market Insights (FMI) forecasts the market to register growth above 7.3% (CAGR) between 2020 and 2030
- Fish Feed Market: This is expected to accumulate a valuation of US$ 116,480 million in 2023 and is projected to expand at a CAGR of 3.5% from 2023 to 2033. According to Future Market Insights, fish feed revenue is expected to total US$ 163,530 million in 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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