Marine extract demand grows in cosmetics, driven by natural ingredients, anti-aging compounds, and sun protection benefits. Consumers have a growing interest in products that support health and wellness, and extracts are considered a promising option due to their natural and organic qualities.
NEWARK, Del, Oct. 31, 2023 (GLOBE NEWSWIRE) — The global marine extract market is set to secure a valuation of US$ 6,054.0 million in 2023. It is anticipated to reach US$ 10,117.5 million by 2033. From 2023 to 2033, the global marine extract demand is likely to increase at a CAGR of 5.3%.
The growing demand from the cosmetic industry can drive the global marine extract market throughout the forecast period. Cosmetics manufacturers are increasingly seeking natural and sustainable ingredients. Marine extracts, such as seaweed, algae, and sea minerals, are expected to be increasingly popular due to their inclusion of beneficial compounds and environmentally friendly properties.
Cosmetics manufacturers are set to use marine extracts to produce anti-aging cosmetics containing compounds such as collagen, hyaluronic acid, and antioxidants. The demand for these products is rising due to the increasing aging population.
The launch of new moisturizers, serums, and masks infused with marine extracts is anticipated to aid demand. As consumer awareness of skincare expands, so does the need for marine-derived ingredients.
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A handful of marine extracts have natural sun protection properties. With increasing concerns about sun damage, cosmetics made from these extracts are in high demand due to their UV protection benefits. Marine extracts are also known for their hydrating and skin-nourishing properties, making them essential for products, including moisturizers and lotions.
Companies are focusing on sustainable sourcing, which aligns with the preservation of marine ecosystems. Ethical and eco-friendly sourcing practices are becoming a selling point for cosmetics manufacturers. As marine extracts provide unique textures, colors, and scents, these would enable cosmetic companies to create innovative products that stand out in the market.
Emerging markets, especially in Asia Pacific, are showing increasing demand for cosmetic products. This, in turn, drives the demand for marine extract-based cosmetics.
Ongoing scientific studies and discoveries related to the benefits of marine extracts in cosmetics are projected to fuel the market’s growth. High-end and luxury cosmetic brands often use marine extracts to create premium products, catering to consumers looking for luxury skincare options.
Key Takeaways from the Marine Extract Market Report-
- The global marine extract market is expected to reach a valuation of US$ 10,117.5 million by 2033.
- Global demand for marine extracts will likely soar at 5.3% CAGR over the forecast period.
- Based on application, the functional food & beverages segment is anticipated to reach a valuation of US$ 1091.6 million by 2033.
- On the basis of the extract type, the protein segment is expected to clock a staggering CAGR of 6.3% from 2023 to 2033.
- Japan is estimated to witness a CAGR of 7.1% during the projection period.
“Increasing demand for natural ingredients in several industries and the growing awareness about the health benefits of marine extracts are driving growth. Key manufacturers are focusing on launching new extracts with improved properties to expand their presence.” – says Nandini Roy Choudhury ( client Partner for Food and Beverages at Future Market Insights, Inc.)
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Competitive Landscape of the Marine Extract Market
Leading companies are concentrating on expanding their portfolios by launching new products. They would also prioritize sustainable and responsible sourcing of marine ingredients, aligning with environmental and ethical standards to ensure a long-term supply of marine extracts.
Key Companies Profiled
- Aker BioMarine
- Lonza
- BioActor BV
- Marinova Pty Ltd.
- Neptune Wellness Solutions Inc.
- Rousselot S.A.S.
- CP Kelco
- Taiko Group of Companies
- Ashland Global Holdings Inc.
- FMC Corporation
- Seaweed Energy Solutions AS
- Extract & Ingredients Ltd.
- GlycoMar Ltd.
- Biolume Inc.
- Aquapharm Bio-Discovery Limited.
For instance,
- In March 2019, Lonza Group launched a new line of marine-based omega-3 fatty acid products for the dietary supplement market called Oceanix.
- In November 2019, MRC commended Sanford for growing its marine extract factory. Since buying ENZAQ in 2017, Sandford has begun developing a Greenshell mussel powder. Two of the founders of its Marlborough Food and Beverage Technology Hub were Sanford and ENZAQ.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global marine extract market, presenting historical demand data (2018 to 2022) and forecast statistics from 2023 to 2033.
The study incorporates compelling insights on the marine extract market based on extract type (protein, lipid, carbohydrate, ash, others), source (macroalgae, microalgae, aquatic animals, others), and application (functional food & beverages, pharmaceuticals, cosmetics & personal care, animal feed & pet food, and others) across several regions.
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Marine Extract Market Outlook by Category
By Extract Type:
- Protein
- Lipid
- Carbohydrate
- Ash
- Others
By Source:
- Macroalgae
- Microalgae
- Marine Animals
- Others
By Application:
- Functional Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Animal Feed & Pet Food
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Author
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.
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