Marine Ingredients Market is expected to grow at a Substantial CAGR of 9.4% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below:
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Global marine ingredients market is an upcoming market which includes key players and local players. The market is growing owing to the favourable market scenario. The market has a prominent growth in upcoming years due to growing application of marine ingredients in different sectors as well as increased health benefits of marine products.
The market has witnessed developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of marine ingredients. For instance, In June 2017, Cargill Incorporated, started newer nutrition research laboratory in Dirdal, Norway. This new lab helps to enhance the aquaculture research as well as development capacity of the company by interaction of nutrients, raw materials and feed manufacturing. This will boost the product development programs and will help to launch new solutions and products.
Cargill, Incorporated dominated the global marine ingredients market. The other key players in the market include Symrise, KD Pharma Group, Omega Protein Corporation, Abyss Ingredients, Algaia, American Seafoods Company LLC, Bio-marine Ingredients Ireland Ltd., COBIOSA, Gonmisol, Hofseth BioCare, Kodiak Fishmeal Company, Nutrifish, OLVEA, Pacific Seafood, Pelagia AS, TerraMar Ingredients, Sea Pride LLC, The Scoular Company, Vesteraalens AS among others.
Cargill, Incorporated:
Cargill, Incorporated is a public company which is headquartered in Minnesota, U.S. and was founded in 1865. The company offers agriculture, food and nutrition products to consumers for sustainability and safety as well as provides help for risk management. The company has product categories including grain & oilseeds, animal nutrition, bio industrial, oils, fats & foods, metals, risk management, trade & structured finance. The market focused category is animal nutrition. The company has approx. 160,000 employees.
- In June 2017, Cargill, Incorporated, opened an aquaculture feed line. This will strengthen the business of the company. This new line helps customers in agricultural areas of Ha Nam, Thai Binh, Hanoi and the broader North Central Vietnam region. This line decreases delivery time and helps fish farmers to produce healthy seafood, which will ultimately raise their output and will decrease the cost of production per kilogram.
It has its global networks through direct sales representatives and distributors in the Asia-Pacific, Europe, Latin America, Middle East & Africa and North America. The company has various subsidiaries including NatureWorks LLC, (U.S.), FRONTIER AGRICULTURE LTD (U.K.), Cargill Cocoa & Chocolate (U.S.), OPX Biotechnologies, Inc. (U.S.), Alvean (Switzerland) among others.
Symrise:
Symrise is a public company which is headquartered in Holzminden, Germany and was founded in 2003. The company focuses on production of scents, flavours and nutrition for humans and pets worldwide. The company has business segments such as scent & care, flavours and nutrition in which market focused segment is nutrition. The company has various product categories including scent & care, flavour and nutrition. The company has 9,647 employees as of December 31st, 2018.
It has its global networks through direct sales representatives and distributors in Asia-Pacific, Europe, Middle East & Africa, Latin America, and North America. The company has various subsidiaries including DrinkStar GmbH (Germany), TESIUM GmbH (Germany), Symotion GmbH(Germany) among others.
KD Pharma Group:
KD Pharma Group is a private company which is headquartered in Bioggio, Switzerland and was founded in 1988. The company focuses on Omega-3 fatty acid derived customized products. The company has product categories including pharmaceutical products, nutraceutical products, and veterinary products in which market focused categories are pharmaceutical products and nutraceutical products.
- In October 2019, KD Pharma Group launched K2ardio3, a new product enriched with Vitamin K2 and Omega-3 fatty acid which is good for heart and bone health, helping in aging concerns. This product is used for cardiovascular diseases and bone related diseases. With, this launch the company will increase its product portfolio and profit margin.
It has its global networks through direct sales representatives and distributors in Asia-Pacific, Europe, and North America. The company has subsidiaries such as KD Pharma (Switzerland), KD Nutra (Switzerland), KD Swiss (Switzerland), Veterinarian Recommended Solution (Switzerland) and Physician Recommended Nutrition (Switzerland) among others.
