Asia-Pacific Marine Ingredients Market, By Product Type (Fish Meal, Fish Oil, Marine Proteins, Marine Peptides, Marine Collagen, Fish Bone and Others), Ingredients (Protein, Ash, Fatty Acids, Vitamins, Fat, Enzymes and Others), Form (Liquid and Powder), Raw Material (Whole Fish and By-Product), Source (Krill, Algae, Fish, Squid and Others), Application (Animal and Aquaculture Feed, Pet Food, Dietary Supplements, Food and Beverages, Pharmaceutical, Personal Care and Cosmetics and Others), Country (China, Japan, India, Australia, South Korea, Malaysia, Thailand, Indonesia, Singapore, Philippines, Vietnam, New Zealand and Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Marine Ingredients Market
Data Bridge Market Research analyses that the global marine ingredients market will project a CAGR of 6.0% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, ever-rising population around the globe, rising consumer consciousness towards high quality, healthy and nutritional food products, rise in the demand for fat content and unique protein outside of their daily routine and increasing personal disposable income by the major companies are the major factors attributable to the growth of marine ingredients market. Therefore, the market value, which was USD 2.16 billion in 2020, would rocket up to USD 3.44 billion by 2028.
Marine ingredients are the healthy ingredients that are generally utilized in the animal feed and for human consumption. Marine ingredients are generally extracted from krill, algae, fishes, and squid. Marine ingredients generally consist of marine proteins, marine peptides, marine collagen, fish meal, fish oil, and fishbone.
Rising awareness about the health benefits of marine ingredients and increase in the accepting of organic products over the conventional ones are the major factors fostering the growth of the market. Growing demand from the food and beverage and animal feed application, rising awareness about maintain the food safety and surging demand from the cosmetic industry are other important factors acting as market growth determinants. Increasing focus on the technological advancements in the food processing machinery and rising focus on domestic manufacturing will further induce growth in the market value.
However, fluctuations in the prices of raw materials will pose a major challenge to the growth of the market. Limitations in the production process owing to the lack of advanced technology in the underdeveloped economies and inflexibility in the laws will also hamper the market growth rate.
This marine ingredients market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on marine ingredients market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Marine Ingredients Market Scope and Market Size
The marine ingredients market is segmented on the basis of product type, ingredients, form, raw material, source and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the marine ingredients market is segmented into fish meal, fish oil, marine proteins, marine peptides, marine collagen, fish bone, and others.
- On the basis of ingredients, the marine ingredients market is segmented into protein, ash, fatty acids, vitamins, fat, enzymes, and others.
- On the basis of form, the marine ingredients market is segmented into liquid, and powder.
- On the basis of raw material, the marine ingredients market is segmented into whole fish, and by-product.
- On the basis of source, the marine ingredients market is segmented into krill, algae, fish, squid, and others.
- On the basis of application, the marine ingredients market is segmented into animal and aquaculture feed, pet food, dietary supplements, food and beverages, pharmaceutical, personal care and cosmetics, and others.
Asia-Pacific Marine Ingredients Market Country Level Analysis
The marine ingredients market is analyses and market size, volume information is provided by country, product type, ingredients, form, raw material, source and application as referenced above.
The countries covered in the marine ingredients market report are China, Japan, India, Australia, South Korea, Malaysia, Thailand, Indonesia, Singapore, Philippines, Vietnam, New Zealand and Rest of Asia-Pacific.
Emerging economies like China, India, Japan, Indonesia and Malaysia in Asia-Pacific region dominates the marine ingredients market and will continue to during the forecast period owing to the growing awareness about the benefits of marine ingredients, ever-rising population base and increasing personal disposable income.
The country section of the marine ingredients market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Marine Ingredients Market Share Analysis
The marine ingredients market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to marine ingredients market.
The major players covered in the marine ingredients market report are Cargill, Incorporated., Symrise, KD Pharma Group SA, Omega Protein Corporation, Abyss Ingredients, Algaia, American Seafoods Company LLC., Bio-marine Ingredients Ireland., COBIOSA, GONMISOL, Hofseth BioCare ASA, Kodiak Fishmeal Company, NutriFish, OLVEA FISH OILS, Pacific Seafood., Pelagia, TerraMar Ingredients, Sea Pride LLC, The Scoular Company, Vesteraalens AS among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.