It will likely emerge as a highly lucrative market for marine excipient manufacturers across South East Asia. As per the latest analysis, demand for marine excipients in India is anticipated to rise at 6.2% CAGR during the forecast period.
NEWARK, Del, Dec. 07, 2023 (GLOBE NEWSWIRE) — The global marine excipient market value is projected to increase from US$ 716.3 million in 2023 to US$ 1,344.94 million by 2033. Over the forecast period, global demand for marine excipients is predicted to rise at 6.5% CAGR.
The marine excipient market is an expansive industry that benefits from using a wide selection of marine-derived compounds. An array of industries, from food and beverages to pharmaceuticals, cosmetics, and personal care, depend upon these precious resources.
Viable options vary, from seaweed and algae to fish and crab shells. Each choice serves a vital purpose in the production of excipients. Marine-derived excipients are gaining popularity due to their natural and sustainable nature and potential health benefits.
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Customer preference for environmentally friendly products is also contributing to the rise of marine excipient industry. Producers from diverse fields seek marine excipients for their multifunctional qualities, which include stabilizing, thickening, gelling, and emulsifying.
The market also confronts several problems, including variations in the composition and quality of marine-derived products due to environmental conditions and sourcing complications. Also, legal regulations and sustainability concerns place constraints on the industry.
Key Takeaways from the Report:
- The global marine excipient market is expected to reach US$ 1,344.9 million by 2033.
- By product type, alginate segment is poised to thrive at 5.6% CAGR through 2033.
- Based on source, sea weed segment will likely progress at 8.9% CAGR.
- The United States market value is set to total US$ 287.4 million by 2033.
- China’s marine excipient market is poised for a CAGR of 7.4% through 2033.
- India is estimated to register a value CAGR of 6.2% during the prediction period.
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“The marine excipient market is expanding rapidly due to rising demand for natural and sustainable components in several industries. Key companies are expected to integrate novel manufacturing and extraction technologies to stay ahead of the competition”, -says Nandini Roy Choudhury ( client Partner for Food and Beverages at Future Market Insights, Inc.)
Key Companies Profiled
- Blue Biotech
- Earthrise
- Roquette Kloetze
- Rizhao Jiejing Ocean Biotechnology Development Co., LTD, China
- AlgaNovo International Co., Ltd, China
- Yigeda Bio-Technology Co., Ltd, China
- EID Parry
- BASF (Cognis Australia, Betatene/BASF (DE)
- Natural Beta Technologies
- Cyanotech
- Mera Pharma
- BioReal
- US Nutra
- AlgaTech
- Blue Biotech
- SandaKing
- DIC Lifetec
- Marcel Carrageenan
- Zamboanga Carrageenan
- Multicipta Infodevindo,
- PT Sumber Alam Lestari
- Meck Pharmaceuticals & Chemicals Pvt. Ltd.
Acquisitions and mergers benefit companies by improving their product quality and expanding their market reach.
Combining resources, expertise, and customer base can lead to access to new technology, distribution channels, manufacturing facilities, and talent. Similarly, launching new products can help businesses stay competitive and meet the changing consumer demand.
Recent developments:
- In 2021, Satiagel™ VPC 614 Kappa Carrageenan was introduced by Cargill.
- In March 2020, Hispanagar introduced QSol, a highly soluble agar that enables low-temperature dissolution.
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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global marine excipient market, presenting past demand data from 2018 to 2022 and projecting forecast statistics for the 2023 to 2033 period.
The study incorporates compelling insights on the marine excipient market based on product type (alginate, carrageenan, agar, fucoidan, chitosan, gelatin, and marine polysaccharides), end-use industry (pharmaceutical industry, food and beverage industry personal care and cosmetics industry, agriculture industry, veterinary industry, nutraceutical, dietary supplements), functionality (fillers and diluents, suspending and viscosity agents, binders, flavoring agents, disintegrate, colorants, gelling agent, film forming agents, and coating agents), source (algae, cladosiphon, sea weed, crustacean, corals, freshwater chlorophyta, polysaccharide), form (liquid, powder, granular, and semi-solid), and region.
About the Food and Beverage Division at Future Market Insights (FMI)
FMI’s Food & Beverage team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.
Marine Excipient Market Outlook by Category
By Product Type:
- Alginate
- Carrageenan
- Agar
- Fucoidan
- Chitosan
- Gelatin
- Marine polysaccharides
By End-use Industry:
- Pharmaceutical Industry
- Oral Formulations
- Tablets
- Capsules
- Liquid Formulations
- Topical Formulation
- Others
- Food and Beverage Industry
- Personal Care and Cosmetics Industry
- Agriculture Industry
- Veterinary industry
- Nutraceutical
- Dietary Supplements
By Functionality:
- Fillers and Dilutents
- Suspending and Viscosity Agents
- Binders
- Flavoring Agents
- Disintegrants
- Colorants
- Gelling Agent
- Film forming Agent
- Coating Agents
By Source:
- Algae
- Green Algae
- Green Microalgae
- Blue Green Algae
- Haemattococcus algae
- Cladosiphon
- Seaweed
- Brown seaweed
- Red seaweed
- Crustacean
- Corals
- Freshwater Chlorophyta
- Polysaccharide
By Form:
- Liquid
- Powder
- Granular
- Semi Solid
By Region:
- North America
- Europe
- Latin America
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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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- The fish meal market trend is estimated to be valued at USD 8,000 Million in the year 2022 and is estimated to grow at an unprecedented rate to achieve a value of USD 15,000 Million by the year 2032 with a CAGR of 7.7% during the assessment period.
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