Surging Demand for Eco-Friendly Lifestyles Drives Marine-derived Protein Market with a Projected 6.4% CAGR Until 2033 | Persistence Market Research

New York, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Market Size & Overview:

The global market for marine-derived proteins is poised for substantial growth, with a projected CAGR of 6.4%, soaring from US$7.33 billion in 2023 to an estimated US$11.32 billion by 2030. These proteins, sourced from marine life such as fish, shellfish, and algae, undergo extraction and processing to yield various forms, including concentrates, hydrolysates, and isolates. This transformative shift in the global food sector encapsulates innovation, sustainability, and nutrition seamlessly.

The market for marine-derived protein market is experiencing increased diversity, fueled by a growing consumer demand for alternative protein sources, particularly within the health and wellness domain. The surge in market growth is attributed to heightened awareness of the nutritional advantages offered by marine proteins.

Factors such as a rising interest in environmentally sustainable food choices, heightened awareness of nutrition and fitness, and advancements in processing techniques contribute to this positive trajectory.

Marine-based proteins are gaining popularity, especially among health-conscious consumers, owing to their rich content of essential elements like vitamins, minerals, and omega-3 fatty acids. Beyond nutritional benefits, these proteins are considered more environmentally friendly than traditional livestock-based alternatives due to their low ecological impact and efficient production methods.

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Market Scope: 

Market Growth Drivers:

Rising Demand for Alternative Protein Sources: The market is propelled by an increasing consumer preference for alternative protein sources, especially as individuals seek diverse and sustainable options beyond traditional meat products.

Growing Health and Wellness Awareness: With a heightened awareness of the health benefits associated with marine-derived proteins, consumers are making conscious choices to incorporate these proteins into their diets. The rich nutritional profile, including essential vitamins, minerals, and omega-3 fatty acids, aligns with the growing focus on health and wellness.

Environmental Sustainability Concerns: The eco-friendly nature of marine-based proteins, characterized by lower ecological impact and efficient production techniques, appeals to environmentally conscious consumers. The market benefits from the global shift toward sustainable and environmentally friendly food choices.

Innovations in Processing Techniques: Advances in extraction and processing technologies contribute to the diversification of marine-derived protein products. Innovations in these techniques enhance the quality and variety of protein forms, meeting the evolving demands of consumers and manufacturers.

Increasing Awareness of Nutritional Benefits: As knowledge about the nutritional advantages of marine proteins expands, consumers are more inclined to incorporate these proteins into their diets. This heightened awareness is a significant driver for market growth.

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Market Restraints:

Cost Challenges: The production and extraction processes for marine-derived proteins can be costly, impacting the final pricing of these products. Higher costs may limit widespread consumer adoption, especially in price-sensitive markets.

Perception and Taste Concerns: Consumer perception and taste preferences play a crucial role in the success of new food products. Some individuals may be hesitant to embrace marine-derived proteins due to unfamiliar taste profiles or preconceived notions about seafood-related flavors.

Supply Chain Vulnerabilities: The market is susceptible to supply chain disruptions, including overfishing, environmental changes affecting marine life, and geopolitical factors. These vulnerabilities can impact the availability and consistency of marine-derived protein sources.

Allergen Concerns: Some individuals may have allergies to seafood or specific marine organisms, limiting the market's appeal to a segment of the population. Addressing allergen concerns becomes crucial to expanding market reach.

Regulatory Challenges: Compliance with evolving food safety and regulatory standards poses a challenge for market participants. Navigating regulatory frameworks and ensuring product quality and safety may require substantial investments and efforts.

Opportunities:

Expanding Product Portfolio: There is an opportunity to diversify and expand the range of marine-derived protein products. Developing new formulations, flavors, and applications can cater to different consumer preferences and increase market penetration.

Innovation in Processing Technologies: Continued innovation in extraction and processing technologies can enhance the efficiency and cost-effectiveness of producing marine-derived proteins. Research and development efforts can lead to improved production methods and novel protein forms.

Investment in Sustainable Practices: Emphasizing and investing in sustainable and environmentally friendly practices in fishing and aquaculture can contribute to a positive market image. Companies adopting responsible sourcing and production methods may gain a competitive advantage.

Health and Wellness Trends: Aligning marketing strategies with prevailing health and wellness trends can attract health-conscious consumers. Highlighting the nutritional benefits of marine-derived proteins, such as omega-3 fatty acids and essential minerals, can capitalize on the growing demand for functional foods.

Educational Campaigns: Educational initiatives aimed at informing consumers about the nutritional advantages and environmental sustainability of marine-derived proteins can foster greater acceptance. Raising awareness about the positive aspects of these proteins can contribute to increased market share.

Analyst’s Viewpoint:

The market for proteins derived from marine sources is flourishing, buoyed by consumers' increasing awareness of sustainable and eco-friendly protein options. This trend aligns seamlessly with the global shift towards adopting environmentally conscious practices. Collaborations between food producers, researchers, and the marine industry are fostering innovation, ensuring the sustainable sourcing and processing of these proteins. This market not only meets the evolving demands of both industries and consumers but also serves as a symbol of sustainability and well-being. As further research unfolds the full potential of these proteins, their market share is poised to grow, shaping future dietary choices and promoting environmentally friendly behaviors.

Market Segmentation

Which Source is Expected to Benefit the Most from Revenue Generation?

In 2022, the fish-derived proteins category emerged as a leader in the marine-derived protein market, showcasing its dominance. This category encompasses proteins from various fish species like cod, haddock, salmon, and tuna. Renowned for their high-quality amino acids and notably abundant in beneficial omega-3 fatty acids, fish-derived proteins are widely recognized for their positive impact on overall health. Notably, these proteins are versatile in culinary applications due to their neutral flavor profile.

Additionally, mollusks such as clams, mussels, and oysters, along with crustaceans like shrimp, crab, and lobster, remain popular choices in the marine protein landscape. Meanwhile, the algae-derived proteins category is poised for significant growth in the forecast period.

Which End-user Will Be Targeted the Most for Sales?

In 2022, the food and beverage industry led the marine-derived protein market, driven by the industry's preference for these proteins to enhance nutritional value without altering taste significantly. There's a rising demand for marine proteins in functional foods and beverages, appealing to health-conscious consumers seeking natural protein supplements. Additionally, the pharmaceutical sector is poised for substantial growth, leveraging marine proteins for niche applications. These proteins, sourced from marine environments, provide a rich chemical diversity, holding promise for the development of potentially beneficial drugs through innovative mechanisms.

Which Extraction Technique Are the Most Sales-focused?

In 2022, the enzymatic hydrolysis category emerged as the market leader, favored for its effectiveness in preserving protein integrity. This extraction technique employs enzymes to break down proteins into peptides and amino acids, enhancing the production of bioactive substances. Meanwhile, ultrasound-assisted extraction is projected to witness substantial growth during the forecast period. Recognized for its ability to enhance extraction efficiency and yield higher-quality proteins from marine sources, it appeals to a growing audience seeking sustainable and high-quality protein options due to its non-invasiveness and shortened processing times.

Which Type will Contribute to the Most in Market Revenue?

In 2022, hydrolysates dominated the market due to increased demand from the sports sector, favored for their fast absorption and bioavailability. Hydrolyzed marine protein, known for medicinal qualities, is also utilized in pharmaceuticals. Simultaneously, isolates gained a significant share, offering a refined protein option for those seeking minimal processing. The rise in protein-focused diets and awareness of health benefits contributes to the growing market share of marine-derived proteins.

Top Regional Markets

Growing Popularity of Marine-themed Cuisines in South Asia & Oceania to Fuel Growth Market

South Asia & Oceania are set to maintain dominance in the marine-derived protein market due to growing well-being awareness and disposable income. The region benefits from easy access to raw materials, while collaborative efforts in China between food producers and seafood suppliers have expanded product variety and improved processing methods. This has resulted in the creation of innovative and high-quality marine-derived protein products, fueling market growth and increasing accessibility to a broader consumer base.

What Opportunities Lies in North America for Manufacturers?

The North America marine-derived protein market is poised for significant growth due to the increasing awareness of well-being. The region sees a surge in popularity for marine-themed cuisines, driven by consumers' growing knowledge of the health benefits of seafood. There is also a rising demand for environmentally friendly and sustainable protein sources in North America. The region's diverse seafood-eating practices, encompassing fish, seaweed, shellfish, and algae, contribute to this demand. Consumers and regulatory agencies support responsible buying practices and certifications, such as the Marine Stewardship Council (MSC), to ensure environmental sustainability in marine protein production. The aquaculture industry in North America is expanding to meet the growing demand for marine proteins, with a particular focus on sustainable practices like salmon farming.

Key Recent Developments:

Sustainable Sourcing Initiatives: Several companies in the marine-derived protein industry have recently announced sustainable sourcing initiatives, emphasizing responsible and eco-friendly practices in fishing and aquaculture.

Innovative Product Launches: The market has witnessed a slew of innovative product launches, introducing novel marine-derived protein products such as fish protein isolates, hydrolysates, and concentrates. These products cater to diverse nutritional preferences and dietary requirements.

Research Advancements: Ongoing research efforts have focused on unlocking the full potential of marine-derived proteins. This includes exploring new extraction and processing technologies to enhance the efficiency and quality of protein production from marine sources.

Global Partnerships: Collaborations between food producers, seafood suppliers, and research institutions on a global scale have played a crucial role in expanding the range of marine-derived protein products. These partnerships aim to combine expertise and knowledge for the development of appealing and nutrient-dense offerings.

Consumer Education Campaigns: Companies and industry stakeholders have initiated educational campaigns to raise consumer awareness about the nutritional benefits and environmental sustainability of marine-derived proteins. These efforts seek to influence consumer choices and preferences.

Expansion of Aquaculture Practices: The aquaculture industry, especially in North America, has experienced growth to meet the increasing demand for marine proteins. Sustainable practices, such as salmon farming, have gained popularity as a means of balancing fish production and conservation of wild fish stocks.

Some of the market players:

• Omega Protein Corporation: Omega Protein Corporation is a leading provider of marine-based nutritional products, specializing in the extraction of omega-3 fatty acids from marine sources. The company is known for its commitment to sustainable practices in the fishing industry.
• Aroma NZ Ltd.: Aroma NZ Ltd. is a New Zealand-based company specializing in marine-based ingredients, particularly fish oils and marine proteins. The company focuses on delivering high-quality, natural products for various industries, including dietary supplements and functional foods.
• Hofseth BioCare ASA: Hofseth BioCare ASA is a Norwegian biotech company that specializes in the development and production of marine-derived ingredients, including proteins and oils. The company is recognized for its innovative approach to utilizing the entire fish for nutritional purposes.
• GC Rieber Oils: GC Rieber Oils is a global supplier of marine oils, focusing on the production of high-quality omega-3-rich fish oils. The company is committed to sustainable and responsible fishing practices to ensure the preservation of marine ecosystems.
• Scanbio Marine Group: Scanbio Marine Group is a Norwegian company engaged in the production of marine-based proteins and oils. The company places emphasis on environmentally friendly practices and collaborates with the fishing industry to ensure responsible sourcing.
• Golden Omega: Golden Omega is a Chilean company known for its expertise in producing omega-3 concentrates from marine sources. The company is dedicated to sustainability and has a strong presence in the global omega-3 market.
• Marine Ingredients: Marine Ingredients is a key player in the marine-derived protein market, offering a range of protein products sourced from marine life. The company is recognized for its commitment to quality and nutritional excellence.
• Sea Run Holdings Inc.: Sea Run Holdings Inc. is involved in aquaculture and the production of marine-based ingredients, including proteins and oils. The company focuses on sustainable practices in aquaculture to meet the growing demand for marine proteins.
• Arctic Nutrition AS: Arctic Nutrition AS is a Norwegian company specializing in marine ingredients, with a focus on extracting nutritional components from marine raw materials. The company's products cater to the dietary supplement and functional food industries.
• CP Kelco: CP Kelco is a global ingredient solutions provider, offering a range of hydrocolloid products, including those derived from marine sources. The company's diverse portfolio includes ingredients used in food and beverage, pharmaceuticals, and personal care products.

Marine-derived Protein Market Segmentation

By Source:

Fish-derived Proteins

Algae-derived Proteins

Shellfish-derived Proteins

Marine Invertebrate Proteins

By End-user:

Food and Beverage Industry

Pharmaceutical Industry

Cosmetics and Skincare Industry

By Extraction Technique:

Enzymatic Hydrolysis

Supercritical Fluid Extraction

High-Pressure Processing (HPP)

Ultrasound-assisted Extraction

Microwave-assisted Extraction

By Type:

Concentrates

Isolates

Hydrolysates

By Region:

North America

Europe

East Asia

South Asia & Oceania

Latin America

Middle East & Africa

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