Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "Marine Biotechnology - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Marine Biotechnology Market to Reach $13.1 Billion by 2030
The global market for Marine Biotechnology estimated at US$6.7 Billion in the year 2022, is projected to reach a revised size of US$13.1 Billion by 2030, growing at a CAGR of 8.7% over the analysis period 2022-2030. Biomaterials, one of the segments analyzed in the report, is projected to record a 9.4% CAGR and reach US$6.6 Billion by the end of the analysis period. Growth in the Bioactive Substances segment is estimated at 8.5% CAGR for the next 8-year period.
The report delves into the advancements in marine biotechnology, particularly in the development of wellness products. Against the backdrop of a shifting global economic landscape, characterized by efforts to manage the ongoing COVID-19 pandemic and geopolitical tensions such as the Russia-Ukraine war, the report provides insights into the marine biotechnology market.
It examines the impact of COVID-19 on the marine biotechnology sector and analyzes the competitive landscape, detailing the market presence of 230 players worldwide in 2023. Despite challenges, the global marine biotechnology market is projected to experience healthy growth, with developed regions currently dominating but developing countries poised for rapid expansion.
The report explores various applications of marine biotechnology, including the production of biomaterials, bioactive substances, marine enzymes for pharmaceutical applications, lipid and biofuel production, and bioremediation. It also highlights recent market activities and profiles select global brands in the marine biotechnology industry.
The U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 11.9% CAGR
The Marine Biotechnology market in the U.S. is estimated at US$2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 11.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 8.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 786 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $6.7 Billion |
| Forecasted Market Value (USD) by 2030 | $13.1 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Industry Witnesses a Rise in Sea Farming Operations
- Artificial Intelligence (AI) Emerging to be a Critical Tool for Marine Biology
- Data Science and Big Data Step In to Simplify Marine Biotech Processes
- Active Participation of Investors to Steer Marine Biotechnology Sector
- Select Recent Start-ups in the Marine Biotechnology Space
- Focus on Biofuels as the Future Energy Security Solution Drives Strong Demand
- Innovative Technologies and Strategies Fuel Demand for Algal Fuel
- Healthcare: A Fast Growing Avenue
- Select Marine Bio-Products Commercially Available
- Health-Promoting Benefits of Marine Algal Proteins
- Sea Anemone Toxins: Opportunities in the Pharma Sector
- Marine Worm: Potential Role in Medical Applications
- Biopharmaceutical Companies Shift Focus to Marine Natural Products
- Technology Advancements Aid Research Activities
- Research Focus Entrenched on Marine Drugs
- Anti-Cancer Drugs Dominate Drug Development Pipeline
- Select List of Marine-Sources-Isolated Compounds with Potential Anticancer Effect
- Cardiovascular Marine Products
- An Overview of Select Cardiovascular Marine Products
- Cardiovascular Marine Products by Marine Source
- Coral Reefs Offer Abundant Opportunities
- Rise in Application of Seaweeds
- Marine Microalgae: Promising Potential in Varied Industries
- Commercially Cultivated Marine Microalgae Species and their Applications
- Major Applications of Marine Microalgae Biomass or their Extracts
- Polysaccharides from Marine Microalgae Hold Significant Potential
- Select Marine Microalgae Species Producing Polysaccharides
- Carotenoids of Marine Origin Find Increased Application as Natural Colorants in Supplements and Foods
- Major Commercially Available Carotenoids
- Carotenoids of Marine Origin and Growing Opportunities in Cosmetics
- Select Carotenoids and their Functional Benefits in Nutricosmetics Market
- Research on Rise for Marine Ingredients for Bonding Applications
- Underwater Geolocation Charting Gains Ground
- Partnerships: Vital for Development of Marine Biotechnology Research
- R&D ACTIVITY IN MARINE BIOTECHNOLOGY - A REVIEW
- Overview
- R&D Initiatives, Programs & Research Priorities for Marine Biotechnology
- COST Action Ocean4Biotech: A Blue Technology Effort to Tap Hidden Wealth of Oceans
- COST Action Ocean4Biotech to Advance Marine Biotechnology
- COST Action Ocean4Biotech: Primary Goals
- Europe to Stay at Forefront of Global Marine Biotechnology Market
- Recent Technological Breakthroughs in Marine Science and Conservation
- A REVIEW OF END-USE MARKETS/APPLICATIONS
- Consumer Products
- Marine Biotechnology for Sustainable Production of Healthy Food Products
- Aquaculture
- How Marine Biotechnology is Helping in Modernizing Traditional Aquaculture?
- Marine Resources as Functional Food Ingredients
- Health Benefits of Few Marine-derived Functional Food Ingredients
- Marine-Derived Nutraceuticals
- Major Marine Nutraceutical Products: A Glance
- Cosmetics: An Important Growth Market
- Focus Shifts to Sustainable Sourcing of Marine Ingredients in Cosmetics Industry
- Marine Biotechnology Application in Industrial Processing
- Marine Microbial Enzymes
- Marine-Derived Biopolymers & Biomaterials
- Marine Micro & Macro Algae
- Chitin & Chitosan
- Marine Bacteria
- Extremozymes Hold an Edge
- Marine-Derived Pharmaceuticals
- Major Marine Sources for Drugs
- Applications of Marine Products in the Pharmaceutical Industry
- Key Challenges in Discovery of Marine-derived Drugs
- Marine Biotechnology for Energy Supply
- Marine Biotechnology for Protecting Marine Ecosystems
- Key Innovative Technologies Contributing in Saving the Ocean
FOCUS ON SELECT PLAYERS (Total 230 Featured)
- Aker BioMarine AS
- Aqua Bio Technology ASA
- BASF SE
- CP Kelco
- Cyanotech Corp.
- GlycoMar Ltd.
- Marinova Pty Ltd
- Nutrex Hawaii Inc.,
- oceanBASIS GmbH
- PharmaMar S.A
- Royal DSM N.V
- SEPPIC
For more information about this report visit https://www.researchandmarkets.com/r/qv3fw6
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
