Market Outlook for Marine Ingredients Market

Marine ingredients are sourced from a wide variety of wild marine flora and fauna, either farmed or freshly caught. Marine ingredients are rich in their nutritional value and have a broad range of applications within the nutrition segment. Marine ingredients consist of bioactive ingredients such as omega-3, hydrolyzed proteins, amino acids, enzymes and other active ingredients which are predominantly derived from the by-products of other marine products. The demand for marine ingredients continues to grow due to the demand for natural ingredients in fortified food and cosmetics and personal care products. The ever-increasing quest for marine ingredients which are highly efficient and have offered consumer satisfaction drives the marine ingredients market towards a dynamic environment of research and technological competence. Currently, lucrative markets for marine ingredients are Brazil, China, Europe and U.S. The marine ingredients market is characterized by a number of mergers & acquisitions amongst the key market participants.

Reasons for Covering this Title

The constant focus of research and development activities in the marine by-products industry in an attempt to use the vast underutilized resource of bioactive marine ingredients has led to an expansion of the marine ingredients portfolio. The benefits and applications of the fishes which are easy to catch and which are available in vast quantities can be delivered in a convenient form to the food, feed and cosmetic industry manufacturers through the marine ingredients. On the other hand, consumer trust is highly influenced by the support of scientific consents concerning marine ingredients, made by the manufacturers. The quality and sustainability of the marine ingredients sourced from the marine resources are also likely to influence the consumer buying decisions for the end use products and may affect the growth of the marine ingredients market. Also, there have been constant price fluctuations in the raw materials from where the marine ingredients are sourced. Many well-positioned ingredient manufacturers are establishing their footprint in the cosmetic segment and also strengthening their biotechnology and R&D activities through the acquisitions of companies operating in marine ingredients or marine biotechnology businesses.

Global Marine Ingredients Market: Segmentation

On the basis of product type, the marine ingredients market is segmented as-

  • Fish Meal
  • Fish Oil
  • Others

On the basis of ingredient type, the marine ingredients market is segmented as-

  • Omega-3-Fatty acid
  • Vitamins & Enzymes
  • Hydrolyzed Proteins
  • Fish Oil
  • Fish Bone Powder
  • Others

On the basis of end use industry, the marine ingredients market is segmented as-

  • Animal Feed & Pet Food Industry
  • Dietary Supplements
  • Pharmaceutical Industry
  • Infant Formula
  • Clinical Nutrition
  • Cosmetic Industry & Personal Care
  • Others

Competitive Landscape of the Marine Ingredients Market  

Some of the market participants in the global marine ingredients market identified across the value chain include KD Pharma Group, Cargill Inc., Bio-Marine Ingredients Ireland, LESSONIA, Thai Union, Yashaswi, Barnhardt Manufacturing Company, SHANGHAI JBICHEM INTERNATIONAL TRADING CO.,LTD., Seagarden AS, AKER BIOMARINE ANTARCTIC AS, Silvaco A/S, TropicalBiomarine and Arctic Nutrition amongst others.

Global Marine Ingredients Market: Key Takeaways

In 2014, the seafood manufacturer Thai Union Group invested in a technology which is called as the Global Innovation Incubator, which is used to produce value added products and also to develop marine ingredients.

Opportunities for Marine Ingredients Market Participants

Sourcing the raw materials for marine ingredients can have a negative bearing on the marine ecosystem and hence steps must the enforced to ensure a sustainable supply of raw materials in the future. For instance, The International Seafood Sustainability Foundation is rigorously focusing to develop acoustic technology for better fishing methods which minimize unnecessary killing to marine fauna. Sustainably sourced marine ingredients hugely impact the consumer buying decisions. The inclusion of adequate information with respect to the ingredients are essential for manufacturers to strengthen their consumer base. Developing specific and customized value-added products such as skincare dietary supplements by the fortification of marine ingredients will also help to boost the growth of the marine ingredients market.

Brief Approach to Research

A modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the product types, ingredient types and end uses of the marine ingredients covered in the study is followed by carrying out a demand-side approach to estimate the sales of marine ingredients segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.

Key Data Points Covered in the Report

Some of the key data points covered in our report include:

  • An overview of the market, including background and evolution
  • Macroeconomic factors affecting the market and its potential
  • Market dynamics, such as drivers, challenges and trends
  • Detailed value chain analysis of the market
  • Cost structure of the products and segments covered in the study
  • In-depth pricing analysis, by key product segments, regions and by major market participants
  • Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
  • Analysis of the market structure, including a tier-wise categorization of key market participants
  • Competitive landscape of the market, including detailed profiles of the top players in this market

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
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  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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