Marine Nutraceutical Market 2024 Growth Drivers, Regional Outlook Till 2034

ByFmi Reports

According to the latest analysis, the global marine nutraceutical market value is projected to increase from US$ 3,965.4 million in 2024 to US$ 9,606.7 million by 2034. Over the next decade, global marine nutraceutical demand will likely rise at a CAGR of 9.3%.

Multiple factors are expected to stimulate growth of the marine nutraceutical industry during the assessment period. These include:

  • Growing awareness about the potential health benefits of marine nutraceuticals
  • Increasing demand for functional foods and dietary supplements containing marine ingredients
  • Rising interest in preventive healthcare
  • Growing geriatric population and expanding usage of marine nutraceuticals in cosmetic and personal care products
  • Growing internationalization, development of innovative products, and spreading awareness about the merits of marine nutraceuticals

With growing health and wellness awareness, consumers are seeking functional foods that offer additional health benefits beyond basic nutrition. This is expected to drive demand for marine nutraceuticals during the forecast period.

Marine ecosystem provides an extensive range of bioactive compounds like vitamins, minerals, proteins, peptides, carotenoids, collagens, amino acids, and probiotics. These compounds have numerous claims in probiotics-fortified foods, protein supplements, dietary supplements, etc.

Marine nutraceuticals combine the nutritional benefits of marine ingredients with specific bioactive compounds. They have drawn attention for their potential to support a variety of health conditions, including heart health, cognitive performance, and mental wellness.

Marine nutraceuticals are becoming highly popular across industries like food & beverages and dietary supplements. This is because these players recognize marine-based compounds’ potential to meet consumer demands for natural and effective solutions.

Growing scientific studies support the effectiveness and safety of marine bioactive compounds derived from marine sources. Industry players are utilizing this scientific information to create novel products with proven health benefits.

For instance, in 2021, Rousselot introduced Marine collagen peptides named Peptan® sourced from 100% wild-caught marine white fish. Development of such novel products will likely foster market growth during the assessment period.

Information Source: https://www.futuremarketinsights.com/reports/marine-nutraceutical-market

Key Takeaways from the Marine Nutraceutical Market Report:

  • The global marine nutraceutical marketis expected to total US$ 9,606.70 million by 2034.
  • Based on active compounds, the fatty acid segment is set to reach a valuation of US$ 4,150.0 million by 2034.
  • By product type, functional foods segment will likely exhibit a 6% CAGR through 2034.
  • North America is projected to account for a global market share of 8% by 2034.
  • Revenue in the United States is projected to total US$ 2,545.1 million by 2034.
  • India will likely register a CAGR of 5% from 2024 to 2034.

“Exploration of possible pharmaceuticals and nutraceuticals from marine resources is receiving substantial attention. Marine-based nutraceuticals are gaining popularity due to their distinctive qualities, which are lacking in terrestrial resources.” – says a lead analyst at Future Market Insights (FMI)

Who is Winning?

Nestle S.A., Rousselot, Aditivos Group (KEMTIA), GFR Pharma, Amway Corp., General Mills Inc, Standard Functional Foods Group Inc., Abbott Laboratories, Roquette Kloetze, AlgaNovo International Co., Ltd, Yigeda Bio-Technology Co., Ltd, EID Parry, BASF, Natural Beta Technologies, Cyanotech, Mera Pharma, BioReal, and others are key marine nutraceutical manufacturers listed in the report.

These companies are focusing on expanding their portfolios by introducing new products. They also use sustainable sourcing practices as well as employ strategies like facility expansions, advertisements, mergers, collaborations, partnerships, and acquisitions to stay relevant in the market. For instance,

  • In 2023, Amway introduced a new range of Nutrilite Advanced Omega and Nutrilite Omega sourced from sustainable fish oil.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global marine nutraceutical market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2034.

The study incorporates compelling insights on the marine nutraceutical industry based on active compounds (fatty acids, vitamins, minerals, carotenoids and marine collagen), product type (functional foods, probiotics fortified foods, omega fatty acid fortified foods, functional beverages, energy drinks, health drinks, fortified juices, dietary supplement, protein supplements, vitamins and minerals, herbal supplements), form (capsules, liquids, tablets, powder, and granules), and sales channel (indirect sales/B2C, pharmacies/drugstores, modern trade channels, and online retailing) across various regions.